Colorado Credit Union Mortgage Rates, Fees & Info
Littleton, COLEI: 549300278QYT0O65D265
Tax ID: 84-0660269
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 include Denver, Greeley, Colorado Springs, Boulder, and Fort Collins among others. Colorado Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Colorado Credit Union is typically an average fee lendor.Originations
1,286Origination Dollar Volume (All Markets)
$232,820,000Relative Rate
Colorado Credit Union's average 30 year fixed rate mortgage of loans were
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.19%.
Relative Fees
Colorado Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,323.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| 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% |
Colorado Credit Union's top markets include Denver, Greeley, Colorado Springs, Boulder, and Fort Collins among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,286 | $232,820,000 | $181,042 | $758 | 3.69% |
For the 2021 period, Colorado Credit Union's most frequently originated loan type of loans were Conventional, with 1,286 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 416 | $45,350,000 | $109,014 | $235 | 4.01% |
| Home Purchase | 263 | $56,425,000 | $214,544 | $4,212 | 3.70% |
| Other | 235 | $27,795,000 | $118,277 | $432 | 4.13% |
| Refi | 229 | $54,255,000 | $236,921 | $2,270 | 3.17% |
| Cash Out Refi | 143 | $48,995,000 | $342,622 | $0 | 2.84% |
For the 2021, Colorado Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 416 originations. The 2nd most popular reason of loans were Home Purchase, with 263 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 909 | $115,335,000 | $126,881 | $0 | 3.97% |
| 30 Year | 258 | $89,310,000 | $346,163 | $3,323 | 2.96% |
| 15 Year | 63 | $16,225,000 | $257,540 | $314 | 2.63% |
| 20 Year | 43 | $9,425,000 | $219,186 | $347 | 3.76% |
| 10 Year | 13 | $2,525,000 | $194,231 | $298 | 3.57% |
For the 2021, Colorado Credit Union's most frequently cited loan length of loans were Other, with 909 originations. The 2nd most popular length of loans were 30 Year, with 258 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 250 | $75,950,000 | $303,800 |
| $1k-2k | 1 | $375,000 | $375,000 |
| $3k-4k | 1 | $295,000 | $295,000 |
$3,323 of loans were Colorado Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 250 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 803 | $121,865,000 | $151,762 |
| 2.5-3% | 195 | $66,865,000 | $342,897 |
| 4-5% | 133 | $12,745,000 | $95,827 |
| <2.5% | 88 | $25,500,000 | $289,773 |
| 5-6% | 65 | $5,395,000 | $83,000 |
| 6-7% | 1 | $105,000 | $105,000 |
During 2021, Colorado Credit Union's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 3-4%, with 803 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 485 | $29,365,000 | $60,546 | $356 | 4.06% |
| $100k-200k | 368 | $51,160,000 | $139,022 | $279 | 3.81% |
| $200k-400k | 299 | $87,125,000 | $291,388 | $3,106 | 3.19% |
| $400k-600k | 131 | $63,025,000 | $481,107 | $3,976 | 3.12% |
| $600k-1MM | 3 | $2,145,000 | $715,000 | $0 | 2.79% |
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
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 423 | $72,575,000 | $171,572 | $308 | 3.89% |
| $100k-150k | 350 | $60,310,000 | $172,314 | $380 | 3.64% |
| $250k+ | 198 | $41,890,000 | $211,566 | $0 | 3.85% |
| $75k-100k | 149 | $30,245,000 | $202,987 | $2,024 | 3.39% |
| $50k-75k | 120 | $19,900,000 | $165,833 | $5,105 | 3.43% |
| $50k or less | 46 | $7,900,000 | $171,739 | $190 | 3.16% |
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
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 336 | $61,640,000 | $183,452 | $270 | 3.62% |
| 30-36% | 259 | $44,965,000 | $173,610 | $536 | 3.81% |
| <20% | 143 | $25,775,000 | $180,245 | $0 | 3.53% |
| 36% | 56 | $11,190,000 | $199,821 | $0 | 3.70% |
| 37% | 47 | $8,475,000 | $180,319 | $0 | 3.81% |
| 44% | 46 | $8,530,000 | $185,435 | $685 | 3.86% |
| 38% | 45 | $7,575,000 | $168,333 | $380 | 3.77% |
| 41% | 45 | $7,355,000 | $163,444 | $0 | 3.64% |
| 39% | 44 | $8,300,000 | $188,636 | $380 | 3.66% |
| 43% | 39 | $7,035,000 | $180,385 | $0 | 3.85% |
| 45% | 38 | $5,670,000 | $149,211 | $810 | 3.82% |
| 42% | 37 | $5,775,000 | $156,081 | $0 | 3.89% |
| 46% | 33 | $6,645,000 | $201,364 | $3,976 | 3.62% |
| 40% | 33 | $6,715,000 | $203,485 | $560 | 3.74% |
| 47% | 23 | $4,475,000 | $194,565 | $0 | 3.34% |
| 50-60% | 20 | $4,860,000 | $243,000 | $0 | 3.55% |
| 48% | 19 | $3,445,000 | $181,316 | $2,553 | 3.45% |
| >60% | 11 | $1,515,000 | $137,727 | $0 | 3.70% |
| 49% | 8 | $1,780,000 | $222,500 | $0 | 3.86% |
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
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,008 | $185,520,000 | $184,048 | $465 | 3.66% |
| Not provided | 219 | $36,875,000 | $168,379 | $1,365 | 3.79% |
| Asian | 30 | $6,180,000 | $206,000 | $3,976 | 3.60% |
| Black | 11 | $1,545,000 | $140,455 | $560 | 4.06% |
| Asian Indian | 7 | $1,255,000 | $179,286 | $0 | 4.11% |
| American Indian | 9 | $985,000 | $109,444 | $0 | 3.47% |
| Korean | 1 | $375,000 | $375,000 | $0 | 2.13% |
| Not applicable | 1 | $85,000 | $85,000 | $0 | 3.75% |
Approval Rates
Total approvals of all applications91.91%
Colorado Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.78%
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 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,286 | $232,820,000 | $181,042 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 231 | $53,025,000 | $229,545 | $0 | 3.66% |
| 40-60% | 118 | $37,700,000 | $319,492 | $405 | 2.95% |
| 60-80% | 163 | $59,655,000 | $365,982 | $0 | 2.92% |
| 80-100% | 52 | $19,580,000 | $376,538 | $4,431 | 3.06% |
| Under 20% | 722 | $62,860,000 | $87,064 | $323 | 4.04% |
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% |
