Blue Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 254900XZCT60J2G3HK85

Tax ID: 83-0173508

Latest/2022 | 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 Refi, Home Purchase, and Cash Out Refi 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 19 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 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.

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% 3/24/24
30 Year Conventional Purchase 6.52% 3/24/24
30 Year Conventional Refi 6.38% 3/24/24
30 Year Cash-out Refi 6.50% 3/24/24
15 Year Conventional Purchase 7.48% 3/24/24
15 Year Conventional Refi 5.08% 3/24/24
15 Year Cash-out Refi 5.08% 3/24/24
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

632

Origination Dollar Volume (All Markets)

$78,460,000

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) 213 $23,125,000 $108,568 $1,244 4.97%
CHEYENNE, WY (FHA|USDA|VA) 159 $18,275,000 $114,937 $2,364 4.81%
FORT COLLINS, CO (FHA|USDA|VA) 106 $14,370,000 $135,566 $2,348 4.88%
BOULDER, CO (FHA|USDA|VA) 64 $10,580,000 $165,313 $2,185 4.82%
GREELEY, CO (FHA|USDA|VA) 52 $5,570,000 $107,115 $1,525 4.92%
Outside of Metro Areas 10 $2,830,000 $283,000 $3,909 4.85%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $750,000 $375,000 $8,174 5.13%
Laramie, WY (FHA|USDA|VA) 8 $690,000 $86,250 $2,014 4.84%
Glenwood Springs, CO (FHA|USDA|VA) 1 $385,000 $385,000 $6,410 4.75%
PUEBLO, CO (FHA|USDA|VA) 3 $375,000 $125,000 $2,402 5.08%
COLORADO SPRINGS, CO (FHA|USDA|VA) 4 $350,000 $87,500 $1,346 4.96%
Riverton, WY (FHA|USDA|VA) 2 $210,000 $105,000 $2,230 4.25%
Breckenridge, CO (FHA|USDA|VA) 2 $190,000 $95,000 $485 4.24%
Steamboat Springs, CO (FHA|USDA|VA) 1 $185,000 $185,000 $4,115 4.25%
North Platte, NE (FHA|USDA|VA) 1 $165,000 $165,000 $4,116 4.88%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.50%
LINCOLN, NE (FHA|USDA|VA) 1 $125,000 $125,000 $2,589 4.63%
CASPER, WY (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.75%
Edwards, CO (FHA|USDA|VA) 1 $35,000 $35,000 $132 4.49%
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)
  • Arizona (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.

    Pinnacle Bank - Wyoming
    Similarity Rank: 96
    WESTERN VISTA
    Similarity Rank: 187
    Jonah Bank of Wyoming
    Similarity Rank: 432
    DENVER COMMUNITY
    Similarity Rank: 548
    Guaranty Bank and Trust Co
    Similarity Rank: 833
    First American State Bank
    Similarity Rank: 985
    Aurora Financial, LLC
    Similarity Rank: 1080
    Credit Union Lending Source
    Similarity Rank: 1148
    Calatlantic Morgage Inc.
    Similarity Rank: 1404

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 464 $69,020,000 $148,750 $1,968 4.71%
    HELOC 168 $9,440,000 $56,190 n/a 5.37%

    For 2018, Blue Federal Credit Union's most frequently originated type of loan was Conventional, with 464 originations. Their 2nd most popular type was HELOC, with 168 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 169 $8,505,000 $50,325 $188 5.09%
    Refi 150 $17,310,000 $115,400 $934 4.61%
    Other 121 $5,485,000 $45,331 $208 5.10%
    Home Purchase 108 $26,110,000 $241,759 $4,586 4.88%
    Cash Out Refi 84 $21,050,000 $250,595 $4,587 4.65%

    For 2018, Blue Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 169 originations. The 2nd most popular reason was Refi, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 213 $13,725,000 $64,437 $1,269 5.40%
    30 Year 130 $36,190,000 $278,385 $4,992 4.74%
    10 Year 123 $7,125,000 $57,927 $272 4.72%
    15 Year 83 $16,415,000 $197,771 $1,783 4.56%
    Other 79 $4,615,000 $58,418 $205 4.38%
    5 Year 3 $145,000 $48,333 $130 3.99%
    1 Year 1 $245,000 $245,000 $2,508 4.99%

    For 2018, Blue Federal Credit Union's most frequently cited loan duration was 20 Year, with 213 originations. The 2nd most popular length was 30 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 277 $18,715,000 $67,563
    $2k-3k 51 $8,765,000 $171,863
    $3k-4k 43 $10,435,000 $242,674
    $1k-2k 28 $7,480,000 $267,143
    $4k-5k 24 $7,920,000 $330,000
    $5k+ 15 $7,335,000 $489,000

    Blue Federal Credit Union's average total fees were $4,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 277 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 353 $50,445,000 $142,904
    5-6% 126 $14,860,000 $117,937
    3-4% 109 $10,365,000 $95,092
    6-7% 31 $1,925,000 $62,097
    Over 8% 7 $395,000 $56,429
    7-8% 5 $405,000 $81,000

    During 2018, Blue Federal Credit Union's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 353 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 380 $18,180,000 $47,842 $350 5.00%
    $100k-200k 121 $16,985,000 $140,372 $2,451 4.73%
    $200k-400k 107 $30,075,000 $281,075 $4,591 4.66%
    $400k-600k 17 $7,745,000 $455,588 $6,920 4.86%
    $600k-1MM 6 $4,350,000 $725,000 $6,966 4.79%
    $1MM+ 1 $1,125,000 $1,125,000 $0 5.25%

    2018 saw Blue Federal Credit Union place emphasis on $100,000 or less loans with 380 originations, totaling $18,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 188 $20,710,000 $110,160 $1,717 4.92%
    $75k-100k 147 $15,885,000 $108,061 $1,769 4.78%
    $50k-75k 119 $14,765,000 $124,076 $2,355 4.87%
    $150k-250k 82 $8,990,000 $109,634 $1,299 5.04%
    $50k or less 61 $6,135,000 $100,574 $2,469 4.79%
    $250k+ 21 $6,095,000 $290,238 $3,927 5.05%

    Blue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $75k-100k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 163 $14,875,000 $91,258 $1,114 4.75%
    30-36% 118 $15,740,000 $133,390 $1,984 4.96%
    <20% 76 $5,390,000 $70,921 $810 4.77%
    39% 27 $3,175,000 $117,593 $2,220 4.81%
    44% 25 $3,175,000 $127,000 $2,340 4.95%
    50-60% 25 $3,555,000 $142,200 $2,984 5.10%
    43% 24 $3,300,000 $137,500 $2,184 5.18%
    37% 20 $2,920,000 $146,000 $2,456 5.15%
    48% 20 $3,930,000 $196,500 $4,429 5.01%
    38% 20 $2,260,000 $113,000 $1,366 4.83%
    47% 18 $2,610,000 $145,000 $2,859 5.07%
    40% 16 $2,160,000 $135,000 $2,517 4.92%
    42% 15 $2,535,000 $169,000 $3,082 4.63%
    36% 15 $1,915,000 $127,667 $2,047 4.93%
    41% 15 $2,355,000 $157,000 $3,597 4.86%
    46% 10 $1,680,000 $168,000 $4,288 5.12%
    49% 9 $1,515,000 $168,333 $3,860 4.89%
    45% 4 $580,000 $145,000 $3,283 4.53%
    >60% 3 $385,000 $128,333 $4,230 5.08%

    Blue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 163 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 564 $60,470,000 $107,216 $1,651 4.89%
    Not provided 32 $10,360,000 $323,750 $5,443 4.80%
    Not applicable 6 $3,480,000 $580,000 $0 4.98%
    Asian 14 $2,020,000 $144,286 $2,878 4.67%
    Black 9 $1,015,000 $112,778 $2,191 5.01%
    Asian Indian 1 $445,000 $445,000 $5,196 3.75%
    American Indian 3 $305,000 $101,667 $4,387 4.79%
    Korean 1 $245,000 $245,000 $2,508 4.99%
    Native Hawaiian or Islander 2 $120,000 $60,000 $0 4.63%

    Approval Rates

    Total approvals of all applications
    79.15%

    Blue Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.53%

    Blue Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 168 $9,440,000 $56,190
    NA 464 $69,020,000 $148,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,265,000 $755,000
    Single Family (1-4 Units):Manufactured 4 $650,000 $162,500
    Single Family (1-4 Units):Site-Built 625 $75,545,000 $120,872

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 109 $10,075,000 $92,431 $987 4.97%
    40-60% 59 $11,405,000 $193,305 $2,618 4.62%
    60-80% 99 $27,635,000 $279,141 $4,148 4.69%
    80-100% 59 $15,915,000 $269,746 $5,140 4.76%
    Under 20% 306 $13,430,000 $43,889 $212 4.99%