Elevations Credit Union Mortgage Rates, Fees & Info

Boulder, CO

LEI: 54930067MGJBFNEN1P47

Tax ID: 84-0459116

5 stars - out of 5 stars, based on 68 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 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 Breckenridge among others. We have data for 17 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 a low 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) 6.64% 6/7/23
    30 Year Conventional Purchase 6.23% 6/7/23
    30 Year Conventional Refi 6.30% 6/7/23
    30 Year Cash-out Refi 6.43% 6/7/23
    30 Year FHA Purchase 7.35% 6/7/23
    30 Year VA Purchase 5.86% 6/7/23
    15 Year Conventional Purchase 6.21% 6/7/23
    15 Year Conventional Refi 5.82% 6/7/23
    15 Year Cash-out Refi 5.82% 6/7/23
    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.

    Elevations Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Elevations Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    4,565

    Origination Dollar Volume (All Markets)

    $1,478,925,000
    Show all (12) awards

    Relative Rate

    Elevations Credit Union's average 30 year fixed mortgage rate was 4.53%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.23%.

    Relative Fees (Closing Costs)

    Elevations Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,978.

    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) 1,922 $666,870,000 $346,967 $3,504 4.91%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1,384 $466,600,000 $337,139 $3,471 4.92%
    FORT COLLINS, CO (FHA|USDA|VA) 654 $166,840,000 $255,107 $2,978 5.07%
    GREELEY, CO (FHA|USDA|VA) 428 $114,120,000 $266,636 $3,133 5.10%
    Outside of Metro Areas 70 $24,130,000 $344,714 $3,393 4.68%
    Breckenridge, CO (FHA|USDA|VA) 20 $11,220,000 $561,000 $3,831 4.49%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 30 $9,960,000 $332,000 $2,647 5.18%
    Edwards, CO (FHA|USDA|VA) 12 $6,950,000 $579,167 $4,436 4.96%
    Steamboat Springs, CO (FHA|USDA|VA) 10 $3,190,000 $319,000 $3,174 4.32%
    Glenwood Springs, CO (FHA|USDA|VA) 10 $2,450,000 $245,000 $3,120 5.09%
    GRAND JUNCTION, CO (FHA|USDA|VA) 6 $2,010,000 $335,000 $4,266 4.50%
    Fort Morgan, CO (FHA|USDA|VA) 6 $1,990,000 $331,667 $4,145 4.85%
    PUEBLO, CO (FHA|USDA|VA) 4 $920,000 $230,000 $1,940 4.69%
    Durango, CO (FHA|USDA|VA) 2 $890,000 $445,000 $2,960 5.18%
    Montrose, CO (FHA|USDA|VA) 5 $565,000 $113,000 $1,742 5.29%
    Cañon City, CO (FHA|USDA|VA) 1 $125,000 $125,000 $4,030 5.38%
    Sterling, CO (FHA|USDA|VA) 1 $95,000 $95,000 $3,974 7.13%
    Elevations Credit Union's top markets include Boulder, Denver, Fort Collins, Greeley, and Breckenridge 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: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 768
    DENVER COMMUNITY
    Similarity Rank: 1078
    AVENTA Credit Union
    Similarity Rank: 1085
    FOOTHILLS
    Similarity Rank: 1116
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 1178
    Red Rocks Credit Union
    Similarity Rank: 1464
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1488
    PARTNERS UNITED FINANCIAL, LLC
    Similarity Rank: 1962
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,746 $1,210,510,000 $440,827 $3,223 4.69%
    HELOC 1,774 $246,820,000 $139,132 n/a 5.36%
    FHA 26 $12,090,000 $465,000 $14,021 4.93%
    VA 19 $9,505,000 $500,263 $10,653 4.42%

    For 2022, Elevations Credit Union's most frequently originated type of loan was Conventional, with 2,746 originations. Their 2nd most popular type was HELOC, with 1,774 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,881 $962,215,000 $511,544 $4,107 4.69%
    Home Improvement 1,264 $157,850,000 $124,881 $165 5.36%
    Other 747 $93,805,000 $125,576 $143 5.66%
    Cash Out Refi 346 $141,580,000 $409,191 $3,358 4.01%
    Refi 327 $123,475,000 $377,599 $3,051 4.17%

    For 2022, Elevations Credit Union's most frequently cited loan purpose was Home Purchase, with 1,881 originations. The 2nd most popular reason was Home Improvement, with 1,264 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 2,227 $296,265,000 $133,033 $410 5.41%
    30 Year 2,218 $1,137,860,000 $513,012 $3,978 4.53%
    15 Year 73 $20,445,000 $280,068 $3,681 3.53%
    Other 31 $22,735,000 $733,387 $5,745 5.01%
    10 Year 16 $1,620,000 $101,250 $1,190 4.97%

    For 2022, Elevations Credit Union's most frequently cited loan duration was 20 Year, with 2,227 originations. The 2nd most popular length was 30 Year, with 2,218 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,770 $758,370,000 $428,458
    $1k-2k 475 $185,415,000 $390,347
    $2k-3k 176 $86,470,000 $491,307
    $5k+ 170 $99,780,000 $586,941
    $3k-4k 93 $40,875,000 $439,516
    $4k-5k 77 $39,385,000 $511,494

    Elevations Credit Union's average total fees were $3,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,770 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,291 $460,765,000 $356,905
    5-6% 1,225 $331,655,000 $270,739
    4-5% 1,185 $469,535,000 $396,232
    6-7% 436 $103,870,000 $238,234
    7-8% 207 $29,335,000 $141,715
    2.5-3% 119 $61,495,000 $516,765
    Over 8% 65 $5,315,000 $81,769
    <2.5% 37 $16,955,000 $458,243

    During 2022, Elevations Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 3-4%, with 1,291 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,027 $148,145,000 $144,250 $1,827 5.08%
    $200k-400k 1,015 $299,195,000 $294,773 $3,353 4.78%
    $100,000 or less 1,010 $56,320,000 $55,762 $220 5.64%
    $400k-600k 856 $417,250,000 $487,442 $4,377 4.64%
    $600k-1MM 522 $380,150,000 $728,257 $4,097 4.38%
    $1MM+ 135 $177,865,000 $1,317,519 $5,150 4.14%

    2022 saw Elevations Credit Union place emphasis on $100k-200k loans with 1,027 originations, totaling $148,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,432 $499,200,000 $348,603 $3,427 4.94%
    $100k-150k 1,207 $323,095,000 $267,684 $3,180 5.09%
    $250k+ 680 $379,530,000 $558,132 $3,906 4.79%
    $75k-100k 635 $149,945,000 $236,134 $3,423 5.01%
    $50k-75k 453 $91,325,000 $201,600 $3,127 4.81%
    $50k or less 129 $18,105,000 $140,349 $2,719 4.61%

    Elevations Credit Union lent most frequently to those with incomes in the $150k-250k range, with 1,432 originations. The second most popular income band? $100k-150k, with 1,207 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 900 $280,230,000 $311,367 $2,973 4.85%
    30-36% 849 $271,335,000 $319,594 $3,149 4.93%
    <20% 277 $76,505,000 $276,191 $2,884 4.67%
    42% 223 $80,175,000 $359,529 $3,046 4.98%
    44% 218 $65,180,000 $298,991 $3,800 5.16%
    41% 198 $72,720,000 $367,273 $3,945 5.00%
    45% 198 $55,900,000 $282,323 $3,834 5.17%
    40% 181 $65,555,000 $362,182 $3,858 4.98%
    39% 180 $68,780,000 $382,111 $3,309 5.03%
    38% 175 $49,245,000 $281,400 $2,845 5.09%
    37% 166 $47,490,000 $286,084 $2,747 5.06%
    36% 159 $50,915,000 $320,220 $3,039 5.01%
    49% 155 $50,945,000 $328,677 $3,962 5.01%
    43% 147 $52,945,000 $360,170 $4,140 5.05%
    48% 136 $51,030,000 $375,221 $3,872 4.87%
    46% 132 $41,410,000 $313,712 $4,079 4.85%
    50-60% 122 $36,920,000 $302,623 $7,060 4.94%
    47% 120 $41,630,000 $346,917 $4,086 4.83%
    >60% 5 $2,065,000 $413,000 $2,957 4.77%

    Elevations Credit Union lent most frequently to those with DTI ratios of 20-30%, with 900 originations. The next most common DTI ratio? 30-36%, with 849 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,637 $1,172,245,000 $322,311 $3,371 4.94%
    Not provided 635 $191,595,000 $301,724 $3,184 5.00%
    Asian 182 $74,970,000 $411,923 $3,925 4.78%
    Not applicable 22 $16,010,000 $727,727 $0 5.03%
    American Indian 29 $11,315,000 $390,172 $4,161 4.94%
    Black 43 $10,725,000 $249,419 $2,805 5.18%
    Native Hawaiian or Islander 7 $695,000 $99,286 $5,356 5.12%
    Other Asian 3 $575,000 $191,667 $61 6.40%
    Asian Indian 4 $500,000 $125,000 $0 5.80%
    Chinese 1 $175,000 $175,000 $0 5.24%
    Filipino 1 $85,000 $85,000 $108 5.99%
    Japanese 1 $35,000 $35,000 $0 5.74%

    Approval Rates

    Total approvals of all applications
    80.48%

    Elevations Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.53%

    Elevations Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 2 $140,000 $70,000
    8375.0 1 $1,675,000 $1,675,000
    NA 4,562 $1,477,110,000 $323,786

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,565 $1,478,925,000 $323,970

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 699 $158,515,000 $226,774 $2,505 4.99%
    40-60% 432 $183,900,000 $425,694 $3,391 4.39%
    60-80% 1,010 $556,200,000 $550,693 $3,897 4.49%
    80-100% 769 $420,175,000 $546,391 $4,470 4.65%
    Over 100% 3 $1,395,000 $465,000 $14,051 5.00%
    Under 20% 1,652 $158,740,000 $96,090 $336 5.49%