Blue Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 254900XZCT60J2G3HK85

Tax ID: 83-0173508

5 stars - Updated: 12/6/24 - out of 5 stars, based on 27 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Blue Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Blue Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Cheyenne, Fort Collins, Boulder, and Greeley among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Blue Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Blue Federal Credit Union 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.49% 12/6/24
30 Year Conventional Purchase 6.52% 12/6/24
30 Year Conventional Refi 6.38% 12/6/24
30 Year Cash-out Refi 6.50% 12/6/24
15 Year Conventional Purchase 7.48% 12/6/24
15 Year Conventional Refi 5.08% 12/6/24
15 Year Cash-out Refi 5.08% 12/6/24
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.

Blue Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Blue Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

733

Origination Dollar Volume (All Markets)

$106,735,000

Relative Rate

Blue Federal Credit Union's average 30 year fixed mortgage rate was 6.85%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.37%.

Relative Fees (Closing Costs)

Blue Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,972.

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
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 273 $42,355,000 $155,147 $1,812 6.28%
CHEYENNE, WY (FHA|USDA|VA) 182 $21,110,000 $115,989 $3,095 6.39%
FORT COLLINS, CO (FHA|USDA|VA) 88 $11,680,000 $132,727 $1,063 6.30%
BOULDER, CO (FHA|USDA|VA) 58 $7,880,000 $135,862 $2,637 6.42%
Outside of Metro Areas 42 $6,530,000 $155,476 $2,148 5.88%
GREELEY, CO (FHA|USDA|VA) 58 $6,170,000 $106,379 $572 6.38%
Breckenridge, CO (FHA|USDA|VA) 10 $4,080,000 $408,000 $4,295 6.92%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $2,245,000 $748,333 $4,591 7.61%
Heber, UT (FHA|USDA|VA) 1 $975,000 $975,000 $0 7.50%
Laramie, WY (FHA|USDA|VA) 5 $905,000 $181,000 $4,711 6.56%
Edwards, CO (FHA|USDA|VA) 2 $810,000 $405,000 $0 6.64%
Sheridan, WY (FHA|USDA|VA) 1 $705,000 $705,000 $6,557 6.81%
COLORADO SPRINGS, CO (FHA|USDA|VA) 8 $700,000 $87,500 $436 6.49%
Durango, CO (FHA|USDA|VA) 1 $385,000 $385,000 $4,704 6.46%
Cañon City, CO (FHA|USDA|VA) 1 $205,000 $205,000 $5,283 7.50%
Blue Federal Credit Union's top markets include Denver, Cheyenne, Fort Collins, Boulder, and Greeley among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Blue Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CENTENNIAL LENDING, LLC
    Similarity Rank: 126
    Blue Federal Credit Union
    Similarity Rank: 255
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    Jonah Bank of Wyoming
    Similarity Rank: 442
    Shea Mortgage Inc.
    Similarity Rank: 589
    West Gate Bank
    Similarity Rank: 840
    HOME MORTGAGE ALLIANCE, LLC
    Similarity Rank: 942
    ON TAP
    Similarity Rank: 1140
    WESTERRA CREDIT UNION
    Similarity Rank: 1275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 544 $64,420,000 $118,419 n/a 6.27%
    Conventional 189 $42,315,000 $223,889 $2,351 6.50%

    For 2023, Blue Federal Credit Union's most frequently originated type of loan was HELOC, with 544 originations. Their 2nd most popular type was Conventional, with 189 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 303 $31,505,000 $103,977 $193 6.26%
    Other 234 $23,910,000 $102,179 $353 6.25%
    Home Purchase 96 $30,750,000 $320,313 $5,709 6.66%
    Refi 74 $11,220,000 $151,622 $738 6.25%
    Cash Out Refi 26 $9,350,000 $359,615 $4,157 6.96%

    For 2023, Blue Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 303 originations. The 2nd most popular reason was Other, with 234 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 544 $63,010,000 $115,827 $13,199 6.27%
    15 Year 58 $10,550,000 $181,897 $685 6.79%
    30 Year 56 $21,290,000 $380,179 $5,972 6.85%
    10 Year 37 $2,855,000 $77,162 $274 4.93%
    Other 35 $5,825,000 $166,429 $212 7.01%
    3 Year 2 $2,230,000 $1,115,000 $0 8.38%
    5 Year 1 $975,000 $975,000 $0 7.50%

    For 2023, Blue Federal Credit Union's most frequently cited loan duration was 30+ year, with 544 originations. The 2nd most popular length was 15 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 107 $8,045,000 $75,187
    $3k-4k 19 $6,505,000 $342,368
    $2k-3k 14 $3,780,000 $270,000
    $5k+ 11 $6,845,000 $622,273
    $4k-5k 9 $4,375,000 $486,111
    $1k-2k 5 $825,000 $165,000

    Blue Federal Credit Union's average total fees were $5,972, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 107 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 362 $53,530,000 $147,873
    5-6% 231 $27,955,000 $121,017
    7-8% 85 $16,575,000 $195,000
    Over 8% 25 $5,515,000 $220,600
    <2.5% 20 $1,810,000 $90,500
    3-4% 10 $1,350,000 $135,000

    During 2023, Blue Federal Credit Union's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was 6-7%, with 362 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 385 $20,435,000 $53,078 $313 6.28%
    $100k-200k 186 $25,200,000 $135,484 $1,083 6.23%
    $200k-400k 111 $30,345,000 $273,378 $5,160 6.45%
    $400k-600k 37 $17,065,000 $461,216 $7,121 6.73%
    $600k-1MM 11 $8,815,000 $801,364 $8,321 6.86%
    $1MM+ 3 $4,875,000 $1,625,000 $10,572 7.09%

    2023 saw Blue Federal Credit Union place emphasis on $100,000 or less loans with 385 originations, totaling $20,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 209 $25,495,000 $121,986 $2,142 6.38%
    $150k-250k 205 $29,995,000 $146,317 $2,399 6.17%
    $75k-100k 115 $9,345,000 $81,261 $1,642 6.37%
    $250k+ 96 $28,510,000 $296,979 $3,784 6.36%
    $50k-75k 85 $6,485,000 $76,294 $2,910 6.31%
    $50k or less 14 $1,270,000 $90,714 $1,616 6.76%

    Blue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 209 originations. The second most popular income band? $150k-250k, with 205 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 176 $23,330,000 $132,557 $2,075 6.33%
    30-36% 149 $22,115,000 $148,423 $2,262 6.19%
    <20% 58 $7,060,000 $121,724 $3,364 6.12%
    43% 33 $4,725,000 $143,182 $4,648 6.37%
    40% 30 $4,390,000 $146,333 $3,329 6.76%
    50-60% 29 $3,625,000 $125,000 $699 6.43%
    41% 28 $4,350,000 $155,357 $1,570 5.60%
    37% 28 $3,440,000 $122,857 $4,073 6.23%
    44% 24 $2,990,000 $124,583 $2,077 6.67%
    39% 22 $3,690,000 $167,727 $3,011 6.15%
    36% 22 $2,500,000 $113,636 $1,959 6.78%
    38% 22 $3,120,000 $141,818 $4,160 6.32%
    46% 22 $2,000,000 $90,909 $1,311 6.48%
    42% 21 $1,755,000 $83,571 $1,105 6.37%
    45% 16 $2,100,000 $131,250 $1,756 6.67%
    48% 14 $2,400,000 $171,429 $2,686 6.46%
    49% 12 $2,060,000 $171,667 $2,012 5.82%
    >60% 10 $4,760,000 $476,000 $111 7.14%
    47% 8 $690,000 $86,250 $2,149 6.57%

    Blue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 659 $89,605,000 $135,971 $2,435 6.30%
    Not applicable 9 $5,635,000 $626,111 $0 7.42%
    Not provided 34 $5,610,000 $165,000 $2,326 6.59%
    Black 10 $2,100,000 $210,000 $511 5.86%
    Asian 13 $2,095,000 $161,154 $119 6.29%
    Vietnamese 2 $1,210,000 $605,000 $0 8.05%
    American Indian 5 $405,000 $81,000 $583 6.49%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 6.49%

    Approval Rates

    Total approvals of all applications
    81.18%

    Blue Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.67%

    Blue Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 733 $106,735,000 $145,614

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    733 $106,735,000 $145,614

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 169 $33,855,000 $200,325 $1,172 6.26%
    40-60% 35 $10,275,000 $293,571 $4,228 6.29%
    60-80% 41 $18,825,000 $459,146 $6,652 6.72%
    80-100% 30 $11,840,000 $394,667 $6,059 7.03%
    Under 20% 458 $31,940,000 $69,738 $252 6.28%