Blue Federal Credit Union Mortgage Rates, Fees & Info

Cheyenne, WY

LEI: 254900XZCT60J2G3HK85

Tax ID: 83-0173508

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

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Mortgage Data

Review & Overview

Blue Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Blue Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cheyenne, Denver, Fort Collins, Greeley, and Boulder among others. We have data for 17 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.49% 3/27/24
30 Year Conventional Purchase 6.52% 3/27/24
30 Year Conventional Refi 6.38% 3/27/24
30 Year Cash-out Refi 6.50% 3/27/24
15 Year Conventional Purchase 7.48% 3/27/24
15 Year Conventional Refi 5.08% 3/27/24
15 Year Cash-out Refi 5.08% 3/27/24
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

729

Origination Dollar Volume (All Markets)

$134,385,000

Awards

Blue Federal Credit Union 30 Year Conventional Loans bronze
Show all (1) awards

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
CHEYENNE, WY (FHA|USDA|VA) 295 $48,745,000 $165,237 $3,626 3.41%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 188 $35,460,000 $188,617 $3,696 3.69%
FORT COLLINS, CO (FHA|USDA|VA) 94 $23,730,000 $252,447 $4,527 3.69%
GREELEY, CO (FHA|USDA|VA) 68 $12,250,000 $180,147 $3,810 3.83%
BOULDER, CO (FHA|USDA|VA) 47 $8,155,000 $173,511 $4,465 3.73%
Outside of Metro Areas 14 $2,230,000 $159,286 $3,525 3.63%
Breckenridge, CO (FHA|USDA|VA) 3 $965,000 $321,667 $7,622 3.13%
Laramie, WY (FHA|USDA|VA) 8 $850,000 $106,250 $2,963 3.69%
Edwards, CO (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.63%
Gillette, WY (FHA|USDA|VA) 2 $400,000 $200,000 $4,623 2.50%
Riverton, WY (FHA|USDA|VA) 2 $330,000 $165,000 $4,048 3.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.88%
Rock Springs, WY (FHA|USDA|VA) 1 $185,000 $185,000 $3,841 2.63%
Glenwood Springs, CO (FHA|USDA|VA) 2 $160,000 $80,000 $3,654 3.94%
Steamboat Springs, CO (FHA|USDA|VA) 1 $135,000 $135,000 $4,277 2.88%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $75,000 $75,000 $110 3.99%
Sterling, CO (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.63%
Blue Federal Credit Union's top markets include Cheyenne, Denver, Fort Collins, Greeley, and Boulder among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Arizona (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.

    WESTERN VISTA
    Similarity Rank: 60
    Pinnacle Bank - Wyoming
    Similarity Rank: 252
    The District Federal Credit Union
    Similarity Rank: 441
    DENVER COMMUNITY
    Similarity Rank: 732
    United Fidelity Bank, fsb
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    Jonah Bank of Wyoming
    Similarity Rank: 812
    LANDED HOME LOANS LLC
    Similarity Rank: 1040
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1175
    FOOTHILLS
    Similarity Rank: 1336
    WHITE CROWN FEDERAL CREDIT UNION
    Similarity Rank: 2260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 541 $121,385,000 $224,372 $3,805 3.31%
    HELOC 188 $13,000,000 $69,149 n/a 4.39%

    For 2020, Blue Federal Credit Union's most frequently originated type of loan was Conventional, with 541 originations. Their 2nd most popular type was HELOC, with 188 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 218 $50,390,000 $231,147 $4,418 3.18%
    Refi 200 $43,420,000 $217,100 $3,890 3.18%
    Home Improvement 119 $6,485,000 $54,496 $197 4.48%
    Home Purchase 115 $28,775,000 $250,217 $4,387 3.62%
    Other 77 $5,315,000 $69,026 $269 4.48%

    For 2020, Blue Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 218 originations. The 2nd most popular reason was Refi, with 200 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 251 $26,985,000 $107,510 $3,641 4.04%
    30 Year 203 $56,225,000 $276,970 $5,070 3.15%
    15 Year 150 $37,880,000 $252,533 $3,979 3.05%
    Other 62 $7,070,000 $114,032 $636 4.54%
    10 Year 57 $5,995,000 $105,175 $1,953 3.68%
    5 Year 6 $230,000 $38,333 $115 3.91%

    For 2020, Blue Federal Credit Union's most frequently cited loan duration was 20 Year, with 251 originations. The 2nd most popular length was 30 Year, with 203 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 125 $30,175,000 $241,400
    $2k-3k 110 $17,260,000 $156,909
    $<1k 103 $6,705,000 $65,097
    $4k-5k 73 $24,715,000 $338,562
    $1k-2k 36 $7,150,000 $198,611
    $5k+ 35 $15,735,000 $449,571

    Blue Federal Credit Union's average total fees were $5,070, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 125 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 270 $56,920,000 $210,815
    2.5-3% 169 $42,335,000 $250,503
    4-5% 112 $10,640,000 $95,000
    <2.5% 90 $19,340,000 $214,889
    5-6% 38 $2,240,000 $58,947
    6-7% 13 $835,000 $64,231
    Over 8% 5 $155,000 $31,000
    7-8% 3 $145,000 $48,333

    During 2020, Blue Federal Credit Union's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 3-4%, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 249 $12,045,000 $48,373 $675 4.47%
    $200k-400k 230 $65,240,000 $283,652 $5,108 3.08%
    $100k-200k 201 $29,235,000 $145,448 $3,362 3.26%
    $400k-600k 42 $19,490,000 $464,048 $6,996 3.11%
    $1MM+ 4 $6,220,000 $1,555,000 $3,787 3.78%
    $600k-1MM 3 $2,155,000 $718,333 $11,047 3.75%

    2020 saw Blue Federal Credit Union place emphasis on $100,000 or less loans with 249 originations, totaling $12,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 215 $39,575,000 $184,070 $4,064 3.49%
    $50k-75k 147 $21,925,000 $149,150 $3,507 3.44%
    $75k-100k 138 $22,320,000 $161,739 $3,866 3.77%
    $150k-250k 103 $19,435,000 $188,689 $3,897 3.79%
    $50k or less 57 $7,355,000 $129,035 $3,100 3.47%
    $250k+ 38 $9,940,000 $261,579 $6,010 3.52%

    Blue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $50k-75k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 182 $32,930,000 $180,934 $3,780 3.32%
    30-36% 119 $18,235,000 $153,235 $3,432 3.63%
    <20% 84 $12,330,000 $146,786 $3,438 3.39%
    39% 32 $7,500,000 $234,375 $4,280 3.18%
    50-60% 29 $5,785,000 $199,483 $3,911 3.86%
    44% 28 $5,180,000 $185,000 $4,872 3.75%
    37% 26 $3,270,000 $125,769 $2,694 3.68%
    42% 25 $5,565,000 $222,600 $4,350 4.00%
    36% 25 $4,045,000 $161,800 $4,037 3.63%
    40% 22 $3,790,000 $172,273 $4,041 3.83%
    38% 21 $3,525,000 $167,857 $3,726 3.67%
    45% 20 $3,260,000 $163,000 $4,024 3.84%
    43% 19 $3,365,000 $177,105 $4,549 3.78%
    41% 17 $2,775,000 $163,235 $4,163 4.03%
    49% 15 $3,045,000 $203,000 $4,578 3.50%
    >60% 12 $3,150,000 $262,500 $6,647 3.75%
    47% 12 $2,240,000 $186,667 $3,920 3.10%
    48% 12 $1,930,000 $160,833 $3,148 4.03%
    46% 9 $795,000 $88,333 $4,692 4.75%

    Blue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 641 $105,935,000 $165,265 $3,644 3.62%
    Not provided 50 $14,600,000 $292,000 $5,148 2.92%
    Not applicable 18 $10,230,000 $568,333 $0 3.99%
    Black 6 $1,240,000 $206,667 $4,921 3.50%
    Asian 7 $1,225,000 $175,000 $3,519 3.12%
    American Indian 3 $775,000 $258,333 $4,955 2.75%
    Guamanian 1 $175,000 $175,000 $4,022 2.75%
    Filipino 1 $105,000 $105,000 $0 3.50%
    Korean 1 $85,000 $85,000 $0 5.25%
    Japanese 1 $15,000 $15,000 $0 9.25%

    Approval Rates

    Total approvals of all applications
    85.58%

    Blue Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.07%

    Blue Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 188 $13,000,000 $69,149
    NA 541 $121,385,000 $224,372

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $7,535,000 $1,076,429
    Single Family (1-4 Units):Manufactured 17 $2,545,000 $149,706
    Single Family (1-4 Units):Site-Built 705 $124,305,000 $176,319

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 100 $12,230,000 $122,300 $2,547 3.61%
    40-60% 131 $31,795,000 $242,710 $4,011 3.06%
    60-80% 209 $58,545,000 $280,120 $5,094 3.11%
    80-100% 67 $20,595,000 $307,388 $5,227 3.13%
    Under 20% 221 $11,185,000 $50,611 $632 4.55%