Colorado Credit Union Mortgage Rates, Fees & Info
Littleton, COLEI: 549300278QYT0O65D265
Tax ID: 84-0660269
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Colorado Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Colorado Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, Boulder, and Fort Collins among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Colorado 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. Colorado 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/19/23 |
| 30 Year Conventional Purchase | 6.31% | 3/19/23 |
| 30 Year Conventional Refi | 6.18% | 3/19/23 |
| 30 Year Cash-out Refi | 6.25% | 3/19/23 |
| 15 Year Conventional Purchase | 6.01% | 3/19/23 |
| 15 Year Conventional Refi | 5.63% | 3/19/23 |
| 15 Year Cash-out Refi | 5.63% | 3/19/23 |
| 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. | ||
Originations
1,286Origination Dollar Volume (All Markets)
$232,820,000Relative Rate
Colorado Credit Union's average 30 year fixed mortgage rate was
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
Colorado Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,323.
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 $4,750.
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) | 1,029 | $185,495,000 | $180,267 | $713 | 3.68% |
| GREELEY, CO (FHA|USDA|VA) | 57 | $9,915,000 | $173,947 | $1,674 | 3.72% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 50 | $8,920,000 | $178,400 | $460 | 3.82% |
| BOULDER, CO (FHA|USDA|VA) | 37 | $7,445,000 | $201,216 | $0 | 3.75% |
| Outside of Metro Areas | 39 | $7,345,000 | $188,333 | $0 | 3.84% |
| FORT COLLINS, CO (FHA|USDA|VA) | 24 | $3,980,000 | $165,833 | $310 | 3.81% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 10 | $1,380,000 | $138,000 | $0 | 3.78% |
| Breckenridge, CO (FHA|USDA|VA) | 6 | $1,170,000 | $195,000 | $0 | 3.67% |
| Durango, CO (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $0 | 3.50% |
| Steamboat Springs, CO (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $0 | 3.71% |
| Edwards, CO (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $0 | 3.38% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 3.67% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 2.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 2.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 2.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 3.13% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 2.38% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 2.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 2.88% |
| Sterling, CO (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 2.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 2.75% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 4.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.13% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.13% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.88% |
| Athens, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.00% |
| Montrose, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 900 | $111,970,000 | $124,411 | n/a | 3.98% |
| Conventional | 386 | $120,850,000 | $313,083 | $758 | 3.00% |
For 2021, Colorado Credit Union's most frequently originated type of loan was HELOC, with 900 originations. Their 2nd most popular type was Conventional, with 386 originations.
Loan Reason
For 2021, Colorado Credit Union's most frequently cited loan purpose was Home Improvement, with 416 originations. The 2nd most popular reason was Home Purchase, with 263 originations.
Loan Duration/Length
For 2021, Colorado Credit Union's most frequently cited loan duration was Other, with 909 originations. The 2nd most popular length was 30 Year, with 258 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 250 | $75,950,000 | $303,800 |
| $1k-2k | 1 | $375,000 | $375,000 |
| $4k-5k | 1 | $295,000 | $295,000 |
Colorado Credit Union's average total fees were $3,323, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.
Interest Rates
During 2021, Colorado Credit Union's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 3-4%, with 803 originations.
Loan Sizing
2021 saw Colorado Credit Union place emphasis on $100,000 or less loans with 485 originations, totaling $29,365,000 in origination value.
Applicant Income
Colorado Credit Union lent most frequently to those with incomes in the $150k-250k range, with 423 originations. The second most popular income band? $100k-150k, with 350 originations.
Applicant Debt to Income Ratio
Colorado Credit Union lent most frequently to those with DTI ratios of 20-30%, with 336 originations. The next most common DTI ratio? 30-36%, with 259 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.19%
Colorado Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.76%
Colorado Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1350.0 | 1 | $265,000 | $265,000 |
| 1860.0 | 1 | $375,000 | $375,000 |
| 4275.0 | 1 | $855,000 | $855,000 |
| 4485.0 | 1 | $295,000 | $295,000 |
| 680.0 | 1 | $135,000 | $135,000 |
| 698.0 | 1 | $235,000 | $235,000 |
| NA | 1,280 | $230,660,000 | $180,203 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COLORADO HOUSING AND FINANCE AUTHORITY | Conventional home mortgage | Trouble during payment process | 4 | 33.3% |
| COLORADO HOUSING AND FINANCE AUTHORITY | FHA mortgage | Incorrect information on your report | 1 | 8.3% |
| COLORADO HOUSING AND FINANCE AUTHORITY | FHA mortgage | Struggling to pay mortgage | 3 | 25.0% |
| COLORADO HOUSING AND FINANCE AUTHORITY | FHA mortgage | Trouble during payment process | 4 | 33.3% |