Credit Union Of Denver Mortgage Rates, Fees & Info

Lakewood, CO

LEI: 254900Y0J7L9XMNKTX90

Tax ID: 84-0186846

5 stars - Updated: 6/9/24 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

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

Credit Union Of Denver has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Credit Union Of Denver is typically a low 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) 5.09% 6/9/24
30 Year Conventional Purchase 6.01% 6/9/24
30 Year Conventional Refi 6.38% 6/9/24
30 Year Cash-out Refi 6.41% 6/9/24
15 Year Conventional Purchase 5.68% 6/9/24
15 Year Conventional Refi 6.89% 6/9/24
15 Year Cash-out Refi 6.89% 6/9/24
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.

Credit Union Of Denver Mortgage Calculator






Your Estimates

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

This is not an official calculator from Credit Union Of Denver. 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

803

Origination Dollar Volume (All Markets)

$93,985,000

Relative Rate

Credit Union Of Denver's average 30 year fixed mortgage rate was 6.33%.

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

This yields a difference of -0.15%.

Relative Fees (Closing Costs)

Credit Union Of Denver's average total fees/closing costs for a 30 year fixed rate mortgage were $850.

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) 702 $81,580,000 $116,211 $240 6.49%
BOULDER, CO (FHA|USDA|VA) 19 $3,905,000 $205,526 $0 5.97%
COLORADO SPRINGS, CO (FHA|USDA|VA) 19 $2,265,000 $119,211 $0 7.34%
GREELEY, CO (FHA|USDA|VA) 22 $1,680,000 $76,364 $151 7.19%
Outside of Metro Areas 11 $1,215,000 $110,455 $0 6.02%
FORT COLLINS, CO (FHA|USDA|VA) 10 $900,000 $90,000 $0 6.02%
Edwards, CO (FHA|USDA|VA) 4 $820,000 $205,000 $0 5.93%
Glenwood Springs, CO (FHA|USDA|VA) 4 $630,000 $157,500 $0 6.62%
Steamboat Springs, CO (FHA|USDA|VA) 2 $280,000 $140,000 $0 6.37%
Breckenridge, CO (FHA|USDA|VA) 2 $220,000 $110,000 $0 5.99%
PUEBLO, CO (FHA|USDA|VA) 2 $180,000 $90,000 $175 6.93%
Durango, CO (FHA|USDA|VA) 2 $160,000 $80,000 $0 7.87%
Sterling, CO (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.99%
Montrose, CO (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.75%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $40,000 $20,000 $0 6.62%
Credit Union Of Denver's top markets include Denver, Boulder, Colorado Springs, Greeley, and Fort Collins among others.

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

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

    SOUTHERN LENDING SERVICES, LTD.
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    HOME MORTGAGE ALLIANCE, LLC
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    WESTERRA CREDIT UNION
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    PREMIER MEMBERS CREDIT UNION
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    HOMEAMERICAN MORTGAGE CORPORATION
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    IDEAL HOME LOANS LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 740 $87,110,000 $117,716 n/a 6.37%
    Conventional 63 $6,875,000 $109,127 $223 8.08%

    For 2023, Credit Union Of Denver's most frequently originated type of loan was HELOC, with 740 originations. Their 2nd most popular type was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 444 $45,460,000 $102,387 $281 6.36%
    Refi 185 $27,555,000 $148,946 $232 6.83%
    Other 155 $17,125,000 $110,484 $135 6.51%
    Home Purchase 19 $3,845,000 $202,368 $0 6.69%

    For 2023, Credit Union Of Denver's most frequently cited loan purpose was Home Improvement, with 444 originations. The 2nd most popular reason was Refi, with 185 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 771 $90,735,000 $117,685 $335 6.48%
    10 Year 13 $1,045,000 $80,385 $58 6.83%
    15 Year 13 $1,665,000 $128,077 $81 7.55%
    Other 4 $130,000 $32,500 $63 7.54%
    30 Year 2 $410,000 $205,000 $850 6.33%

    For 2023, Credit Union Of Denver's most frequently cited loan duration was 20 Year, with 771 originations. The 2nd most popular length was 10 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 62 $6,390,000 $103,065

    Credit Union Of Denver's average total fees were $850, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 369 $44,565,000 $120,772
    6-7% 238 $27,830,000 $116,933
    7-8% 105 $12,115,000 $115,381
    Over 8% 76 $7,550,000 $99,342
    3-4% 8 $1,380,000 $172,500
    4-5% 7 $545,000 $77,857

    During 2023, Credit Union Of Denver's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 5-6%, with 369 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 399 $22,405,000 $56,153 $71 6.59%
    $100k-200k 343 $50,105,000 $146,079 $295 6.43%
    $200k-400k 44 $12,400,000 $281,818 $925 6.42%
    $400k-600k 14 $6,520,000 $465,714 $1,480 6.36%
    $600k-1MM 2 $1,350,000 $675,000 $0 5.99%
    $1MM+ 1 $1,205,000 $1,205,000 $0 5.49%

    2023 saw Credit Union Of Denver place emphasis on $100,000 or less loans with 399 originations, totaling $22,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 252 $32,460,000 $128,810 $285 6.41%
    $100k-150k 220 $21,430,000 $97,409 $245 6.48%
    $250k+ 108 $22,940,000 $212,407 $970 6.33%
    $75k-100k 107 $8,935,000 $83,505 $100 6.69%
    $50k-75k 88 $6,240,000 $70,909 $74 6.82%
    $50k or less 25 $1,205,000 $48,200 $0 6.51%

    Credit Union Of Denver lent most frequently to those with incomes in the $150k-250k range, with 252 originations. The second most popular income band? $100k-150k, with 220 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 147 $16,385,000 $111,463 $296 6.39%
    30-36% 139 $17,165,000 $123,489 $294 6.60%
    50-60% 76 $8,820,000 $116,053 $0 6.50%
    <20% 44 $4,030,000 $91,591 $0 6.35%
    36% 37 $4,365,000 $117,973 $150 6.44%
    43% 32 $5,060,000 $158,125 $63 6.62%
    40% 32 $4,000,000 $125,000 $0 6.56%
    38% 31 $2,825,000 $91,129 $0 6.92%
    44% 29 $2,895,000 $99,828 $0 6.69%
    47% 28 $3,200,000 $114,286 $333 6.55%
    37% 28 $3,570,000 $127,500 $850 6.25%
    42% 27 $3,115,000 $115,370 $0 6.43%
    45% 27 $3,155,000 $116,852 $332 6.74%
    41% 25 $2,585,000 $103,400 $283 6.27%
    48% 25 $2,915,000 $116,600 $650 6.79%
    49% 24 $3,730,000 $155,417 $0 6.29%
    46% 22 $2,450,000 $111,364 $63 6.70%
    39% 22 $2,280,000 $103,636 $850 6.19%
    >60% 7 $955,000 $136,429 $0 6.28%

    Credit Union Of Denver lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 139 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 713 $81,945,000 $114,930 $236 6.51%
    Black 30 $3,650,000 $121,667 $213 6.58%
    Not provided 25 $3,255,000 $130,200 $0 6.40%
    Asian 22 $2,990,000 $135,909 $0 6.29%
    Native Hawaiian or Islander 6 $790,000 $131,667 $0 7.23%
    American Indian 4 $490,000 $122,500 $0 6.18%
    Not applicable 1 $485,000 $485,000 $0 6.00%
    Asian Indian 2 $380,000 $190,000 $0 6.12%

    Approval Rates

    Total approvals of all applications
    75.78%

    Credit Union Of Denver has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    95.27%

    Credit Union Of Denver has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 803 $93,985,000 $117,042

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    803 $93,985,000 $117,042

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 238 $40,540,000 $170,336 $373 6.49%
    40-60% 37 $10,535,000 $284,730 $885 6.65%
    60-80% 7 $2,335,000 $333,571 $425 6.14%
    Under 20% 521 $40,575,000 $77,879 $75 6.51%