Elevations Credit Union Mortgage Rates, Fees & Info
Boulder, COLEI: 54930067MGJBFNEN1P47
Tax ID: 84-0459116
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Elevations Credit Union is a small credit union specializing in Refi and Home Purchase loans. Elevations Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Boulder, Denver, Fort Collins, Greeley, and Colorado Springs among others. Elevations Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Elevations Credit Union is typically a low fee lendor.Originations
7,774Origination Dollar Volume (All Markets)
$2,635,180,000Awards
Elevations Credit Union - 2021
Elevations Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Elevations Credit Union's average 30 year fixed rate mortgage of loans were
3%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.15%.
Relative Fees
Elevations Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,139.
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 |
|---|---|---|---|---|---|
| BOULDER, CO (FHA|USDA|VA) | 2,993 | $1,160,045,000 | $387,586 | $2,893 | 3.03% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1,994 | $746,260,000 | $374,253 | $3,059 | 3.07% |
| FORT COLLINS, CO (FHA|USDA|VA) | 864 | $267,370,000 | $309,456 | $2,863 | 3.06% |
| GREELEY, CO (FHA|USDA|VA) | 605 | $205,795,000 | $340,157 | $3,237 | 3.07% |
| Outside of Metro Areas | 1,038 | $142,500,000 | $137,283 | $2,167 | 4.14% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 145 | $53,225,000 | $367,069 | $3,964 | 2.93% |
| Breckenridge, CO (FHA|USDA|VA) | 38 | $21,790,000 | $573,421 | $3,544 | 2.90% |
| Edwards, CO (FHA|USDA|VA) | 16 | $9,480,000 | $592,500 | $3,252 | 2.96% |
| Glenwood Springs, CO (FHA|USDA|VA) | 16 | $7,840,000 | $490,000 | $3,466 | 3.18% |
| Steamboat Springs, CO (FHA|USDA|VA) | 16 | $7,170,000 | $448,125 | $2,946 | 2.97% |
| PUEBLO, CO (FHA|USDA|VA) | 13 | $3,255,000 | $250,385 | $2,977 | 2.88% |
| Durango, CO (FHA|USDA|VA) | 6 | $2,620,000 | $436,667 | $2,585 | 2.88% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 11 | $2,365,000 | $215,000 | $2,893 | 3.07% |
| Montrose, CO (FHA|USDA|VA) | 7 | $2,315,000 | $330,714 | $3,716 | 2.96% |
| Fort Morgan, CO (FHA|USDA|VA) | 7 | $1,955,000 | $279,286 | $2,837 | 2.75% |
| Sterling, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,980 | 3.50% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,255 | 2.54% |
| Craig, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,530 | 3.00% |
Elevations Credit Union's top markets include Boulder, Denver, Fort Collins, Greeley, and Colorado Springs among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 7,625 | $2,573,455,000 | $337,502 | $2,844 | 3.20% |
| FHA | 76 | $29,910,000 | $393,553 | $10,921 | 2.94% |
| VA | 73 | $31,815,000 | $435,822 | $9,033 | 2.49% |
For the 2021 period, Elevations Credit Union's most frequently originated loan type of loans were Conventional, with 7,625 originations. Their 2nd most popular type is FHA, with 76 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 3,112 | $1,031,830,000 | $331,565 | $2,657 | 2.93% |
| Home Purchase | 2,621 | $1,198,525,000 | $457,278 | $3,464 | 2.98% |
| Home Improvement | 841 | $91,245,000 | $108,496 | $83 | 4.23% |
| Cash Out Refi | 664 | $249,100,000 | $375,151 | $2,830 | 2.99% |
| Other | 536 | $64,480,000 | $120,299 | $123 | 4.31% |
For the 2021, Elevations Credit Union's most frequently cited loan purpose of loans were Refi, with 3,112 originations. The 2nd most popular reason of loans were Home Purchase, with 2,621 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5,091 | $2,139,115,000 | $420,176 | $3,139 | 3.00% |
| 20 Year | 1,786 | $250,760,000 | $140,403 | $2,140 | 4.04% |
| 15 Year | 693 | $183,595,000 | $264,928 | $2,484 | 2.44% |
| Other | 105 | $45,455,000 | $432,905 | $2,206 | 3.19% |
| 10 Year | 98 | $16,240,000 | $165,714 | $2,040 | 2.65% |
| 5 Year | 1 | $15,000 | $15,000 | $103 | 5.24% |
For the 2021, Elevations Credit Union's most frequently cited loan length of loans were 30 Year, with 5,091 originations. The 2nd most popular length of loans were 20 Year, with 1,786 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 4,825 | $1,880,825,000 | $389,808 |
| $1k-2k | 854 | $295,990,000 | $346,593 |
| $2k-3k | 263 | $104,885,000 | $398,802 |
| $3k-4k | 216 | $89,550,000 | $414,583 |
| $5k+ | 123 | $72,555,000 | $589,878 |
$3,139 of loans were Elevations Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 4,825 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 3,505 | $1,388,235,000 | $396,073 |
| 3-4% | 2,858 | $886,940,000 | $310,336 |
| <2.5% | 876 | $301,700,000 | $344,406 |
| 4-5% | 382 | $46,890,000 | $122,749 |
| 5-6% | 136 | $9,750,000 | $71,691 |
| 6-7% | 11 | $1,045,000 | $95,000 |
| Over 8% | 6 | $620,000 | $103,333 |
During 2021, Elevations Credit Union's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 3,505 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 3,092 | $926,290,000 | $299,576 | $2,810 | 3.00% |
| $400k-600k | 1,783 | $865,435,000 | $485,381 | $3,378 | 2.96% |
| $100k-200k | 1,380 | $204,790,000 | $148,399 | $2,348 | 3.44% |
| $100,000 or less | 816 | $47,500,000 | $58,211 | $1,485 | 4.20% |
| $600k-1MM | 578 | $424,030,000 | $733,616 | $3,542 | 2.98% |
| $1MM+ | 125 | $167,135,000 | $1,337,080 | $4,498 | 2.81% |
2021 saw Elevations Credit Union place emphasis on $200k-400k loans with 3,092 originations, totaling $926,290,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 2,153 | $716,425,000 | $332,757 | $2,913 | 3.20% |
| $150k-250k | 1,877 | $723,055,000 | $385,218 | $3,087 | 3.27% |
| $75k-100k | 1,328 | $393,830,000 | $296,559 | $3,005 | 3.15% |
| $50k-75k | 1,247 | $318,335,000 | $255,281 | $2,915 | 3.10% |
| $250k+ | 672 | $378,030,000 | $562,545 | $3,444 | 3.27% |
| $50k or less | 460 | $82,660,000 | $179,696 | $2,525 | 3.02% |
Elevations Credit Union lent most frequently to those with incomes in the $100k-150k range, with 2,153 originations. The second most popular income band? $150k-250k, with 1,877 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,965 | $636,245,000 | $323,789 | $2,776 | 3.17% |
| 30-36% | 1,494 | $519,460,000 | $347,697 | $2,964 | 3.19% |
| <20% | 754 | $238,560,000 | $316,393 | $2,610 | 3.03% |
| 42% | 283 | $108,705,000 | $384,117 | $3,017 | 3.21% |
| 41% | 282 | $100,170,000 | $355,213 | $3,082 | 3.26% |
| 40% | 274 | $104,620,000 | $381,825 | $3,137 | 3.22% |
| 37% | 274 | $94,400,000 | $344,526 | $3,175 | 3.22% |
| 36% | 264 | $91,650,000 | $347,159 | $3,141 | 3.23% |
| 39% | 260 | $91,190,000 | $350,731 | $2,943 | 3.32% |
| 43% | 259 | $83,175,000 | $321,139 | $3,085 | 3.27% |
| 38% | 259 | $101,085,000 | $390,290 | $3,009 | 3.21% |
| 44% | 248 | $79,570,000 | $320,847 | $3,180 | 3.31% |
| 45% | 243 | $75,095,000 | $309,033 | $3,278 | 3.27% |
| 46% | 195 | $65,095,000 | $333,821 | $3,148 | 3.22% |
| 49% | 193 | $65,115,000 | $337,383 | $3,569 | 3.15% |
| 47% | 184 | $57,730,000 | $313,750 | $3,089 | 3.20% |
| 48% | 164 | $54,640,000 | $333,171 | $3,124 | 3.05% |
| 50-60% | 139 | $42,915,000 | $308,741 | $5,347 | 3.30% |
| >60% | 3 | $825,000 | $275,000 | $3,822 | 2.96% |
Elevations Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,965 originations. The next most common DTI ratio? 30-36%, with 1,494 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 6,425 | $2,149,885,000 | $334,612 | $2,980 | 3.20% |
| Not provided | 866 | $307,230,000 | $354,769 | $2,945 | 3.15% |
| Asian | 341 | $124,545,000 | $365,235 | $3,072 | 3.08% |
| American Indian | 58 | $19,890,000 | $342,931 | $3,344 | 3.23% |
| Black | 58 | $17,250,000 | $297,414 | $3,209 | 3.09% |
| Not applicable | 16 | $14,320,000 | $895,000 | $0 | 3.94% |
| Native Hawaiian | 7 | $1,685,000 | $240,714 | $3,075 | 3.48% |
| Asian Indian | 2 | $320,000 | $160,000 | $0 | 4.62% |
| Filipino | 1 | $55,000 | $55,000 | $0 | 3.99% |
Approval Rates
Total approvals of all applications88.60%
Elevations Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination79.40%
Elevations Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 5 | $365,000 | $73,000 |
| NA | 7,769 | $2,634,815,000 | $339,145 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7,774 | $2,635,180,000 | $338,974 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1,168 | $251,680,000 | $215,479 | $2,458 | 3.19% |
| 40-60% | 1,520 | $528,310,000 | $347,572 | $2,587 | 2.88% |
| 60-80% | 2,365 | $1,053,025,000 | $445,254 | $3,059 | 3.03% |
| 80-100% | 1,487 | $682,415,000 | $458,921 | $3,638 | 2.99% |
| Over 100% | 10 | $4,640,000 | $464,000 | $15,493 | 2.61% |
| Under 20% | 1,224 | $115,110,000 | $94,044 | $1,656 | 4.12% |
