Colorado Credit Union Mortgage Rates, Fees & Info
Littleton, COLEI: 549300278QYT0O65D265
Tax ID: 84-0660269
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Mortgage Data
Review & Overview
Colorado Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Colorado Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, Fort Collins, and Breckenridge among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Colorado Credit Union has an 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.00% | 4/18/24 |
| 30 Year Conventional Refi | 6.05% | 4/18/24 |
| 30 Year Cash-out Refi | 6.16% | 4/18/24 |
| 15 Year Conventional Purchase | 5.68% | 4/18/24 |
| 15 Year Conventional Refi | 5.93% | 4/18/24 |
| 15 Year Cash-out Refi | 5.93% | 4/18/24 |
| 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. | ||
Colorado 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
507Origination Dollar Volume (All Markets)
$86,845,000Relative Rate
Colorado Credit Union's average 30 year fixed mortgage rate was
6.55%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.07%.
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) | 421 | $73,125,000 | $173,694 | $286 | 8.39% |
| Outside of Metro Areas | 12 | $2,530,000 | $210,833 | $225 | 7.58% |
| GREELEY, CO (FHA|USDA|VA) | 26 | $2,530,000 | $97,308 | $143 | 8.94% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 15 | $2,105,000 | $140,333 | $380 | 8.90% |
| FORT COLLINS, CO (FHA|USDA|VA) | 9 | $1,625,000 | $180,556 | $0 | 8.29% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $0 | 7.88% |
| BOULDER, CO (FHA|USDA|VA) | 6 | $820,000 | $136,667 | $0 | 8.21% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $380 | 9.16% |
| Edwards, CO (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $0 | 8.08% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 6.13% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 7.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.13% |
| Taos, NM (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 6.75% |
| Glenwood Springs, CO (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 9.13% |
| Sterling, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.00% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 8.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 342 | $47,320,000 | $138,363 | n/a | 8.74% |
| Conventional | 165 | $39,525,000 | $239,545 | $271 | 7.68% |
For 2023, Colorado Credit Union's most frequently originated type of loan was HELOC, with 342 originations. Their 2nd most popular type was Conventional, with 165 originations.
Loan Reason
For 2023, Colorado Credit Union's most frequently cited loan purpose was Home Improvement, with 188 originations. The 2nd most popular reason was Other, with 181 originations.
Loan Duration/Length
For 2023, Colorado Credit Union's most frequently cited loan duration was Other, with 345 originations. The 2nd most popular length was 30 Year, with 77 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 86 | $6,860,000 | $79,767 |
| $5k+ | 2 | $900,000 | $450,000 |
| $1k-2k | 1 | $735,000 | $735,000 |
| $3k-4k | 1 | $385,000 | $385,000 |
Colorado 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 86 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 346 | $42,760,000 | $123,584 |
| 7-8% | 94 | $16,600,000 | $176,596 |
| 6-7% | 49 | $19,885,000 | $405,816 |
| 5-6% | 18 | $7,600,000 | $422,222 |
During 2023, Colorado Credit Union's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was Over 8%, with 346 originations.
Loan Sizing
2023 saw Colorado Credit Union place emphasis on $100,000 or less loans with 209 originations, totaling $11,925,000 in origination value.
Applicant Income
Colorado Credit Union lent most frequently to those with incomes in the $150k-250k range, with 181 originations. The second most popular income band? $100k-150k, with 138 originations.
Applicant Debt to Income Ratio
Colorado Credit Union lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.37%
Colorado Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination59.57%
Colorado 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 |
|---|---|---|---|
| 1526.85 | 1 | $505,000 | $505,000 |
| 1550.0 | 1 | $625,000 | $625,000 |
| 1680.0 | 1 | $565,000 | $565,000 |
| 1816.0 | 1 | $735,000 | $735,000 |
| 214.8 | 1 | $125,000 | $125,000 |
| 2550.0 | 1 | $345,000 | $345,000 |
| 3810.0 | 1 | $385,000 | $385,000 |
| 500.0 | 1 | $305,000 | $305,000 |
| 820.0 | 1 | $165,000 | $165,000 |
| 8500.0 | 1 | $465,000 | $465,000 |
| NA | 497 | $82,625,000 | $166,247 |