Elevations Credit Union Mortgage Rates, Fees & Info

Boulder, CO

LEI: 54930067MGJBFNEN1P47

Tax ID: 84-0459116

5 stars - out of 5 stars, based on 88 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Boulder, Denver, Fort Collins, Greeley, and Colorado Springs among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Elevations 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. Elevations 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 8.06% 12/4/22
    30 Year Conventional Purchase 6.67% 12/4/22
    30 Year Conventional Refi 6.76% 12/4/22
    30 Year Cash-out Refi 6.74% 12/4/22
    30 Year FHA Purchase 7.60% 12/4/22
    30 Year FHA Refi 7.43% 12/4/22
    30 Year VA Purchase 6.32% 12/4/22
    30 Year VA Refi 6.23% 12/4/22
    15 Year Conventional Purchase 5.79% 12/4/22
    15 Year Conventional Refi 5.94% 12/4/22
    15 Year Cash-out Refi 5.94% 12/4/22
    15 Year VA Refi 5.76% 12/4/22
    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

    7,774

    Origination Dollar Volume (All Markets)

    $2,635,180,000
    Show all (12) awards

    Relative Rate

    Elevations Credit Union's average 30 year fixed mortgage rate was 3%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.15%.

    Relative Fees (Closing Costs)

    Elevations Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,139.

    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
    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.

    Their top states include:
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Elevations Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The District Federal Credit Union
    Similarity Rank: 882
    AVENTA Credit Union
    Similarity Rank: 930
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1344
    DENVER COMMUNITY
    Similarity Rank: 1540
    Red Rocks Credit Union
    Similarity Rank: 1830
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1984
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 2170
    Shea Mortgage Inc.
    Similarity Rank: 2432
    FOOTHILLS
    Similarity Rank: 2604
    FIDELIS CATHOLIC
    Similarity Rank: 2700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,168 $2,406,090,000 $390,092 $2,844 2.96%
    HELOC 1,457 $167,365,000 $114,870 n/a 4.23%
    FHA 76 $29,910,000 $393,553 $10,921 2.94%
    VA 73 $31,815,000 $435,822 $9,033 2.49%

    For 2021, Elevations Credit Union's most frequently originated type of loan was Conventional, with 6,168 originations. Their 2nd most popular type was HELOC, with 1,457 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Elevations Credit Union's most frequently cited loan purpose was Refi, with 3,112 originations. The 2nd most popular reason was 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 2021, Elevations Credit Union's most frequently cited loan duration was 30 Year, with 5,091 originations. The 2nd most popular length was 20 Year, with 1,786 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 133 $52,915,000 $397,857
    $5k+ 123 $72,555,000 $589,878
    $4k-5k 83 $36,635,000 $441,386

    Elevations Credit Union's average total fees were $3,139, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.00%, while their most frequently originated rate bucket for loans was 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 or Islander 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 applications
    89.53%

    Elevations Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.82%

    Elevations Credit Union has an 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%