Space Age Federal Credit Union Mortgage Rates, Fees & Info
Aurora, COLEI: 254900CCA1QSI5J1ZY32
Tax ID: 84-0424981
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Mortgage Data
Review & Overview
Space Age Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Space Age Federal Credit Union has a high proportion of conventional loans. Their top two markets are Denver and Fort Collins .Space Age Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.66% | 4/22/24 |
| 15 Year Conventional Refi | 5.76% | 4/22/24 |
| 15 Year Cash-out Refi | 5.76% | 4/22/24 |
| 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. | ||
Space Age Federal 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
31Origination Dollar Volume (All Markets)
$2,025,000Top 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) | 30 | $1,970,000 | $65,667 | $523 | 8.21% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $293 | 6.49% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $1,715,000 | $68,600 | $514 | 7.99% |
| HELOC | 6 | $310,000 | $51,667 | n/a | 8.83% |
For 2023, Space Age Federal Credit Union's most frequently originated type of loan was Conventional, with 25 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
For 2023, Space Age Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Other, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 30 | $1,990,000 | $66,333 | $523 | 8.21% |
| 10 Year | 1 | $35,000 | $35,000 | $293 | 6.49% |
For 2023, Space Age Federal Credit Union's most frequently cited loan duration was 15 Year, with 30 originations. The 2nd most popular length was 10 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 15 | $945,000 | $63,000 |
| 6-7% | 13 | $865,000 | $66,538 |
| 5-6% | 2 | $160,000 | $80,000 |
| 7-8% | 1 | $55,000 | $55,000 |
During 2023, Space Age Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 15 originations.
Loan Sizing
2023 saw Space Age Federal Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,285,000 in origination value.
Applicant Income
Space Age Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
Space Age Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.56%
Space Age Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.97%
Space Age Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 257.75 | 1 | $35,000 | $35,000 |
| 282.75 | 2 | $110,000 | $55,000 |
| 295.75 | 1 | $35,000 | $35,000 |
| 318.75 | 1 | $25,000 | $25,000 |
| 589.0 | 1 | $105,000 | $105,000 |
| NA | 25 | $1,715,000 | $68,600 |