Aero Federal Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Aero Federal Credit Union of Glendale, AZ reported 163 mortgage applications totaling $11.7 million, down 41% from 2022. The average application was for $71,932, and applicants reported an average income of $119,889. 63% of its applications resulted in an originated loan and 25% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (150), Prescott Valley-Prescott, AZ (4) and Flagstaff, AZ (2) (applications in parentheses).
| Mortgage Company & Address | Aero Federal Credit Union 18301 N 79th Ave, A-100 Glendale, AZ 85306 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2004 |
| Total Number of Mortgage Applications | 163 |
| Total Mortgage Loan Application Amount | $11,725,000 |
| Average Mortgage Loan Application Amount | $71,932 |
| Highest Mortgage Loan Application Amount | $455,000 |
| Average Applicant Income | $119,889 |
| Highest Applicant Income | $503,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Aero Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Phoenix-Mesa-Scottsdale, AZ | 150 | $ 10,430,000 | $ 69,533 | $ 118,000 |
| Prescott Valley-Prescott, AZ | 4 | $ 610,000 | $ 152,500 | $ 113,000 |
| Flagstaff, AZ | 2 | $ 100,000 | $ 50,000 | $ 83,000 |
| Sierra Vista-Douglas, AZ | 2 | $ 340,000 | $ 170,000 | $ 308,000 |
| Tucson, AZ | 2 | $ 50,000 | $ 25,000 | $ 98,000 |
| Albuquerque, NM | 1 | $ 95,000 | $ 95,000 | $ 198,000 |
| Outside any metro area | 1 | $ 95,000 | $ 95,000 | $ 192,000 |
| San Diego-Carlsbad, CA | 1 | $ 5,000 | $ 5,000 | $ 60,000 |
Mortgage Loan Application Detail Totals for Aero Federal Credit Union in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Other Purpose | 102 | $6,690,000 | $65,000 | $255,000 | $117,000 | $503,000 |
| Home Improvement | 44 | $2,840,000 | $64,000 | $255,000 | $125,000 | $360,000 |
| Home Purchase | 10 | $1,410,000 | $141,000 | $455,000 | $123,000 | $220,000 |
| Refinancing | 5 | $615,000 | $123,000 | $255,000 | $146,000 | $244,000 |
| Cash-out Refinancing | 2 | $170,000 | $85,000 | $105,000 | $74,000 | $89,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 108 | $7,520,000 | $69,000 | $255,000 | $124,000 | $503,000 |
| Hispanic | 31 | $2,155,000 | $69,000 | $255,000 | $117,000 | $270,000 |
| Not Provided | 12 | $1,420,000 | $118,000 | $455,000 | $112,000 | $220,000 |
| Black or African American | 9 | $495,000 | $55,000 | $95,000 | $100,000 | $198,000 |
| Asian | 3 | $135,000 | $45,000 | $65,000 | $87,000 | $189,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 163 | $11,725,000 | $71,000 | $455,000 | $120,000 | $503,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 102 | $8,080,000 | $79,000 | $455,000 | $132,000 | $503,000 |
| Application Denied By Financial Institution | 41 | $2,205,000 | $53,000 | $155,000 | $88,000 | $360,000 |
| Application Withdrawn By Applicant | 16 | $1,290,000 | $80,000 | $255,000 | $124,000 | $270,000 |
| Application Approved But Not Accepted | 3 | $145,000 | $48,000 | $75,000 | $137,000 | $206,000 |
| File Closed For Incompleteness | 1 | $5,000 | $5,000 | $5,000 | $60,000 | $60,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 122 | $9,520,000 | $78,000 | $455,000 | $131,000 | $503,000 |
| Debt-To-Income Ratio | 23 | $1,295,000 | $56,000 | $155,000 | $77,000 | $145,000 |
| Credit History | 10 | $400,000 | $40,000 | $95,000 | $94,000 | $198,000 |
| Other | 5 | $365,000 | $73,000 | $115,000 | $71,000 | $187,000 |
| Collateral | 3 | $145,000 | $48,000 | $65,000 | $182,000 | $360,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Aero Federal Credit Union's 2023 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Aero Federal Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Arizona, download the full spreadsheet
with aggregated HMDA statistics today.
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