Landings Credit Union Mortgage Rates, Fees & Info
,LEI: 984500DA79C1B97ACF16
Tax ID: 86-0133773
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Mortgage Data
Review & Overview
Landings Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Landings Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Show Low, Tucson, Prescott Valley, and Flagstaff among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Landings Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Landings Credit Union is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.42% | 11/17/24 |
| 30 Year Conventional Refi | 6.89% | 11/17/24 |
| 30 Year Cash-out Refi | 6.95% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Landings Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
100Origination Dollar Volume (All Markets)
$9,760,000Relative Rate
Landings Credit Union's average 30 year fixed mortgage rate was
6.61%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
Landings Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,113.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 92 | $8,530,000 | $92,717 | $1,984 | 8.61% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $14,530 | 7.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $480 | 9.00% |
| Outside of Metro Areas | 1 | $155,000 | $155,000 | $306 | 8.25% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 10.25% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.50% |
| Payson, AZ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.75% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $770 | 6.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $6,465,000 | $117,545 | $2,188 | 8.13% |
| HELOC | 45 | $3,295,000 | $73,222 | n/a | 9.18% |
For 2023, Landings Credit Union's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was HELOC, with 45 originations.
Loan Reason
For 2023, Landings Credit Union's most frequently cited loan purpose was Other, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
For 2023, Landings Credit Union's most frequently cited loan duration was 20 Year, with 48 originations. The 2nd most popular length was Other, with 42 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $255,000 | $255,000 |
Landings Credit Union's average total fees were $10,113, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 88 | $6,640,000 | $75,455 |
| 6-7% | 10 | $2,900,000 | $290,000 |
| 7-8% | 2 | $220,000 | $110,000 |
During 2023, Landings Credit Union's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was Over 8%, with 88 originations.
Loan Sizing
2023 saw Landings Credit Union place emphasis on $100,000 or less loans with 69 originations, totaling $3,535,000 in origination value.
Applicant Income
Landings Credit Union lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 20 originations.
Applicant Debt to Income Ratio
Landings Credit Union lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.73%
Landings Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination63.00%
Landings Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $75,000 | $75,000 |
| 12999.43 | 1 | $475,000 | $475,000 |
| 16011.62 | 1 | $525,000 | $525,000 |
| 1642.0 | 1 | $105,000 | $105,000 |
| 1725.0 | 1 | $55,000 | $55,000 |
| 270.0 | 2 | $130,000 | $65,000 |
| 320.0 | 1 | $105,000 | $105,000 |
| 395.0 | 1 | $35,000 | $35,000 |
| 425.0 | 1 | $45,000 | $45,000 |
| 430.0 | 1 | $25,000 | $25,000 |
| 480.0 | 1 | $255,000 | $255,000 |
| 580.0 | 1 | $45,000 | $45,000 |
| 620.0 | 7 | $235,000 | $33,571 |
| 645.0 | 1 | $45,000 | $45,000 |
| 770.0 | 3 | $115,000 | $38,333 |
| 898.3 | 1 | $115,000 | $115,000 |
| 920.0 | 1 | $105,000 | $105,000 |
| NA | 74 | $7,270,000 | $98,243 |