Aventa Credit Union Mortgage Rates, Fees & Info
Colorado Springs, COLEI: 5493000GJZZTT2UPGG82
Tax ID: 84-0485197
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Mortgage Data
Review & Overview
Aventa Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Aventa Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Denver, Pueblo, Breckenridge, and Fort Collins among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Aventa 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.77% | 5/4/24 |
| 30 Year Conventional Purchase | 6.44% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 5.76% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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. | ||
Aventa 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
76Origination Dollar Volume (All Markets)
$7,060,000Top 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 |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 36 | $3,550,000 | $98,611 | $0 | 4.59% |
| Outside of Metro Areas | 14 | $1,460,000 | $104,286 | $0 | 4.46% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 9 | $1,055,000 | $117,222 | $0 | 5.43% |
| PUEBLO, CO (FHA|USDA|VA) | 10 | $500,000 | $50,000 | $0 | 4.76% |
| Breckenridge, CO (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 4.46% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 5.44% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.38% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against AVENTA Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $7,060,000 | $92,895 | $0 | 4.72% |
For 2019, Aventa Credit Union's most frequently originated type of loan was Conventional, with 76 originations.
Loan Reason
For 2019, Aventa Credit Union's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
For 2019, Aventa Credit Union's most frequently cited loan duration was 20 Year, with 37 originations. The 2nd most popular length was 30 Year, with 23 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 60 | $3,750,000 | $62,500 |
| $1k-2k | 9 | $1,315,000 | $146,111 |
| $2k-3k | 6 | $1,640,000 | $273,333 |
| $3k-4k | 1 | $355,000 | $355,000 |
Aventa Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 60 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 37 | $3,065,000 | $82,838 |
| 3-4% | 20 | $2,630,000 | $131,500 |
| 5-6% | 15 | $1,185,000 | $79,000 |
| 6-7% | 4 | $180,000 | $45,000 |
During 2019, Aventa Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 37 originations.
Loan Sizing
2019 saw Aventa Credit Union place emphasis on $100,000 or less loans with 50 originations, totaling $2,420,000 in origination value.
Applicant Income
Aventa Credit Union lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $50k or less, with 15 originations.
Applicant Debt to Income Ratio
Aventa Credit Union lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 19 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 74 | $6,940,000 | $93,784 | $0 | 4.71% |
| Chinese | 1 | $85,000 | $85,000 | $0 | 4.13% |
| Black | 1 | $35,000 | $35,000 | $0 | 6.50% |
Approval Rates
Total approvals of all applications92.37%
Aventa Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination57.89%
Aventa Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 76 | $7,060,000 | $92,895 |