Peak Financial Mortgage Rates, Fees & Info
DENVER, COLEI: 254900A6XS8JBOVU9C33
Tax ID: 87-0783934
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Mortgage Data
Review & Overview
Peak Financial is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Peak Financial has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Denver, Cheyenne, Greeley, Fort Collins, and Colorado Springs among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Peak Financial 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. Peak Financial is typically an average 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 about average 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 | 6.13% | 5/4/24 |
| 30 Year Conventional Refi | 6.09% | 5/4/24 |
| 30 Year Cash-out Refi | 6.57% | 5/4/24 |
| 30 Year FHA Purchase | 7.04% | 5/4/24 |
| 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. | ||
Peak Financial Mortgage Calculator
Your Estimates
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This is not an official calculator from Peak Financial. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
57Origination Dollar Volume (All Markets)
$13,395,000Top 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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 22 | $6,320,000 | $287,273 | $5,147 | 5.10% |
| CHEYENNE, WY (FHA|USDA|VA) | 6 | $1,200,000 | $200,000 | $5,507 | 5.30% |
| Outside of Metro Areas | 8 | $1,170,000 | $146,250 | $3,961 | 5.06% |
| GREELEY, CO (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $4,696 | 5.16% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $2,603 | 4.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,518 | 4.96% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $10,822 | 4.00% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $12,694 | 5.25% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,846 | 4.81% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $2,212 | 4.96% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $3,760 | 5.17% |
| Sterling, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,901 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Peak Financial based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Peak Financial's most frequently originated type of loan was Conventional, with 29 originations. Their 2nd most popular type was FHA, with 23 originations.
Loan Reason
For 2018, Peak Financial's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 51 | $11,845,000 | $232,255 | $4,998 | 5.12% |
| 20 Year | 3 | $785,000 | $261,667 | $3,149 | 4.75% |
| Other | 3 | $765,000 | $255,000 | $0 | 4.54% |
For 2018, Peak Financial's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 20 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 46 | $10,550,000 | $229,348 |
| $3k-4k | 3 | $835,000 | $278,333 |
| $5k+ | 3 | $965,000 | $321,667 |
| $2k-3k | 2 | $280,000 | $140,000 |
Peak Financial's average total fees were $4,998, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 46 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 27 | $6,455,000 | $239,074 |
| 5-6% | 25 | $5,265,000 | $210,600 |
| 3-4% | 3 | $1,045,000 | $348,333 |
| 6-7% | 1 | $375,000 | $375,000 |
| 7-8% | 1 | $255,000 | $255,000 |
During 2018, Peak Financial's average interest rate for loans was 5.12%, while their most frequently originated rate bucket for loans was 4-5%, with 27 originations.
Loan Sizing
2018 saw Peak Financial place emphasis on $200k-400k loans with 25 originations, totaling $6,945,000 in origination value.
Applicant Income
Peak Financial lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $50k or less, with 20 originations.
Applicant Debt to Income Ratio
Peak Financial lent most frequently to those with DTI ratios of 50-60%, with 10 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.89%
Peak Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination-73.68%
Peak Financial 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 |
|---|---|---|---|
| NA | 57 | $13,395,000 | $235,000 |