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Desert Financial Credit Union

Phoenix, AZ

Desert Financial Credit Union processed 14,881 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 8,747 loans with a 30.3% denial rate. Home Improvement was the primary loan purpose. Based in Phoenix, AZ. The approval rate of 58.8% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Desert Financial Credit Union's 58.8% origination rate tells you how often an application turned into funded money; the 30.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (14,814 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

14,881
Applications
8,747
Originated
30.3%
Denial Rate
$129,270
Avg Loan Amount
Avg Interest Rate: 6.541% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 14,814 8,747 4,477 $128,532
FHA 62 0 33 $284,839
VA 5 0 2 $385,000

Top loan types - Desert Financial Credit Union

Top loan types - Desert Financial Credit Union Horizontal bar chart of the top 3 items by value (applications). Top loan types - Desert Financial Credit Union Top 3 1. Conventional 14,814 2. FHA 62 3. VA 5 Top 5 loan types by application volume at Desert Financial Credit Union (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Desert Financial Credit Union (LEI: 549300HFXTV55C2HHM89) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
2,507
Credit history
1,458
Collateral
1,063
Other
174
Unverifiable information
113
Credit application incomplete
74
Insufficient cash
19
Employment history
15

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 6,644 4,191 $113,116
Other 5,416 2,985 $100,168
Refinancing 2,126 1,300 $185,988
Home Purchase 464 226 $371,293
Cash-out Refinancing 231 45 $268,074

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 11,725 60.6% 29.2%
Black or African American 515 46.2% 43.9%
Asian 427 52.0% 38.2%
Joint 321 64.2% 25.2%
American Indian or Alaska Native 190 52.6% 37.9%
Native Hawaiian or Other Pacific Islander 53 58.5% 35.9%
2 or more minority races * 12 41.7% 50.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 8,472 63.4% 26.9%
Hispanic or Latino 3,572 50.8% 40.5%
Joint 579 64.4% 24.2%

Nearby Lenders in AZ

Other HMDA-reporting lenders in AZ with similar activity. Compare any two side-by-side.

The Loan Store, Inc

Tucson, AZ

37,522 apps 23,548 originated 12.7% denied

V.I.P. Mortgage, INC.

SCOTTSDALE, AZ

10,272 apps 6,989 originated 2.0% denied

Geneva Financial LLC

Chandler, AZ

9,015 apps 5,938 originated 2.7% denied

Nova Financial & Investment Corporation

Tucson, AZ

6,917 apps 4,748 originated 5.3% denied

Southwest Stage Funding LLC

CHANDLER, AZ

6,386 apps 2,241 originated 11.4% denied
Compare Desert Financial Credit Union vs The Loan Store, Inc →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Desert Financial Credit Union process?
Desert Financial Credit Union processed 14,881 mortgage applications in the 2024 HMDA reporting year. Of these, 8,747 were originated (approved and funded), 425 were withdrawn by the applicant, and 4,512 were denied.
What is Desert Financial Credit Union's mortgage approval rate?
Desert Financial Credit Union has an approval (origination) rate of 58.8%, meaning 58.8% of all applications resulted in a funded mortgage. The denial rate is 30.3%.
What is the average loan amount at Desert Financial Credit Union?
The average mortgage loan amount at Desert Financial Credit Union is $129,270. The average interest rate is 6.541%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at Desert Financial Credit Union?
The most common reasons for mortgage denial at Desert Financial Credit Union are: Debt-to-income ratio, Credit history, Collateral. In total, 4,512 applications were denied out of 14,881 total applications.
What types of mortgage loans does Desert Financial Credit Union offer?
Desert Financial Credit Union processes Conventional, FHA, VA loans. The most common type is Conventional with 14,814 applications and an average loan amount of $128,532.
What loan purposes does Desert Financial Credit Union serve?
Desert Financial Credit Union serves the following loan purposes: Home Improvement (6,644 applications), Other (5,416 applications), Refinancing (2,126 applications), Home Purchase (464 applications), Cash-out Refinancing (231 applications). Home Improvement is the most common purpose.
Where is Desert Financial Credit Union located?
Desert Financial Credit Union is headquartered in Phoenix, AZ. The lender is identified by LEI 549300HFXTV55C2HHM89 in HMDA data.
How does Desert Financial Credit Union compare in lending across racial demographics?
Desert Financial Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 60.6% and denial rate of 29.2%; Black or African American applicants have an approval rate of 46.2% and denial rate of 43.9%; Asian applicants have an approval rate of 52.0% and denial rate of 38.2%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.