Colorado Credit Union Mortgage Rates, Fees & Info

Littleton, CO

LEI: 549300278QYT0O65D265

Tax ID: 84-0660269

5 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

1,286

Origination Dollar Volume (All Markets)

$232,820,000

Relative 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 applications
91.91%

Colorado Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
81.78%

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%