Elevations Credit Union Mortgage Rates, Fees & Info

Boulder, CO

LEI: 54930067MGJBFNEN1P47

Tax ID: 84-0459116

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Colorado Springs among others. We have data for 16 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.64% 11/17/24
    30 Year Conventional Purchase 6.23% 11/17/24
    30 Year Conventional Refi 6.30% 11/17/24
    30 Year Cash-out Refi 6.43% 11/17/24
    30 Year FHA Purchase 7.35% 11/17/24
    30 Year VA Purchase 5.86% 11/17/24
    15 Year Conventional Purchase 6.21% 11/17/24
    15 Year Conventional Refi 5.82% 11/17/24
    15 Year Cash-out Refi 5.82% 11/17/24
    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.

    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

    5,428

    Origination Dollar Volume (All Markets)

    $1,236,470,000
    Show all (9) awards

    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) 1,176 $456,590,000 $388,257 $2,852 4.63%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 745 $246,555,000 $330,946 $2,909 4.69%
    Outside of Metro Areas 2,425 $222,785,000 $91,870 $794 5.84%
    FORT COLLINS, CO (FHA|USDA|VA) 624 $181,770,000 $291,298 $2,921 4.67%
    GREELEY, CO (FHA|USDA|VA) 354 $99,380,000 $280,734 $3,185 4.70%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 35 $8,615,000 $246,143 $2,576 4.70%
    Breckenridge, CO (FHA|USDA|VA) 19 $8,505,000 $447,632 $2,776 4.60%
    Glenwood Springs, CO (FHA|USDA|VA) 7 $2,935,000 $419,286 $3,070 4.96%
    Fort Morgan, CO (FHA|USDA|VA) 12 $2,310,000 $192,500 $3,246 4.64%
    GRAND JUNCTION, CO (FHA|USDA|VA) 9 $1,835,000 $203,889 $2,614 4.86%
    Steamboat Springs, CO (FHA|USDA|VA) 6 $1,390,000 $231,667 $2,966 4.83%
    Edwards, CO (FHA|USDA|VA) 3 $1,265,000 $421,667 $2,842 4.29%
    PUEBLO, CO (FHA|USDA|VA) 8 $1,110,000 $138,750 $3,300 4.98%
    Durango, CO (FHA|USDA|VA) 3 $1,105,000 $368,333 $2,286 4.58%
    Montrose, CO (FHA|USDA|VA) 1 $205,000 $205,000 $2,316 4.88%
    Cañon City, CO (FHA|USDA|VA) 1 $115,000 $115,000 $2,432 4.75%
    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)
  • California (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.

    Pioneer Bank
    Similarity Rank: 294
    DENVER COMMUNITY
    Similarity Rank: 548
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    Guaranty Bank and Trust Co
    Similarity Rank: 833
    First American State Bank
    Similarity Rank: 985
    Aurora Financial, LLC
    Similarity Rank: 1080
    Credit Union Lending Source
    Similarity Rank: 1148
    Calatlantic Morgage Inc.
    Similarity Rank: 1404
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1470
    HUNT MORTGAGE CORPORATION
    Similarity Rank: 1890

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,939 $1,073,315,000 $272,484 $2,721 4.97%
    HELOC 1,449 $150,565,000 $103,910 n/a 5.79%
    FHA 39 $12,175,000 $312,179 $8,150 4.41%
    VA 1 $415,000 $415,000 $2,316 5.00%

    For 2018, Elevations Credit Union's most frequently originated type of loan was Conventional, with 3,939 originations. Their 2nd most popular type was HELOC, with 1,449 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,364 $809,910,000 $342,602 $2,929 4.70%
    Home Improvement 1,108 $93,470,000 $84,359 $213 5.77%
    Other 990 $84,500,000 $85,354 $239 5.92%
    Refi 936 $241,500,000 $258,013 $2,750 4.99%
    Cash Out Refi 30 $7,090,000 $236,333 $3,115 4.55%

    For 2018, Elevations Credit Union's most frequently cited loan purpose was Home Purchase, with 2,364 originations. The 2nd most popular reason was Home Improvement, with 1,108 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,749 $952,815,000 $346,604 $2,939 4.67%
    20 Year 2,528 $238,380,000 $94,296 $1,121 5.80%
    15 Year 119 $27,825,000 $233,824 $2,756 4.24%
    Other 17 $16,265,000 $956,765 $0 6.03%
    10 Year 15 $1,185,000 $79,000 $2,243 5.04%

    For 2018, Elevations Credit Union's most frequently cited loan duration was 30 Year, with 2,749 originations. The 2nd most popular length was 20 Year, with 2,528 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,954 $830,090,000 $281,005
    $1k-2k 323 $109,575,000 $339,241
    $2k-3k 135 $46,925,000 $347,593
    $3k-4k 72 $25,030,000 $347,639
    $5k+ 40 $17,930,000 $448,250
    $4k-5k 31 $11,835,000 $381,774

    Elevations Credit Union's average total fees were $2,939, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,954 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,618 $832,320,000 $317,922
    5-6% 1,926 $261,570,000 $135,810
    6-7% 475 $39,515,000 $83,189
    3-4% 246 $94,070,000 $382,398
    7-8% 89 $5,165,000 $58,034
    Over 8% 74 $3,830,000 $51,757

    During 2018, Elevations Credit Union's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 2,618 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,881 $554,075,000 $294,564 $2,956 4.76%
    $100,000 or less 1,764 $90,590,000 $51,355 $1,006 5.89%
    $100k-200k 972 $139,740,000 $143,765 $2,370 5.23%
    $400k-600k 651 $308,225,000 $473,464 $3,023 4.65%
    $600k-1MM 129 $94,525,000 $732,752 $2,961 4.46%
    $1MM+ 31 $49,315,000 $1,590,806 $4,362 4.39%

    2018 saw Elevations Credit Union place emphasis on $200k-400k loans with 1,881 originations, totaling $554,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,527 $344,585,000 $225,661 $2,784 5.19%
    $150k-250k 1,149 $304,355,000 $264,887 $2,774 5.19%
    $50k-75k 991 $170,885,000 $172,437 $2,721 5.21%
    $75k-100k 969 $193,255,000 $199,438 $2,923 5.23%
    $250k+ 398 $159,730,000 $401,332 $2,991 5.02%
    $50k or less 370 $46,460,000 $125,568 $2,513 5.11%

    Elevations Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,527 originations. The second most popular income band? $150k-250k, with 1,149 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,179 $256,055,000 $217,180 $2,717 5.10%
    30-36% 1,082 $225,310,000 $208,235 $2,651 5.27%
    <20% 379 $75,515,000 $199,248 $2,738 4.97%
    42% 257 $58,005,000 $225,700 $2,678 5.37%
    40% 219 $49,145,000 $224,406 $2,648 5.33%
    43% 213 $54,915,000 $257,817 $2,831 5.19%
    38% 213 $46,985,000 $220,587 $2,879 5.30%
    41% 210 $50,200,000 $239,048 $2,880 5.18%
    39% 204 $49,890,000 $244,559 $2,593 5.38%
    44% 194 $47,630,000 $245,515 $2,877 5.31%
    37% 192 $39,100,000 $203,646 $2,775 5.31%
    45% 192 $42,630,000 $222,031 $2,940 5.14%
    36% 180 $38,430,000 $213,500 $2,625 5.36%
    49% 159 $47,155,000 $296,572 $2,965 4.93%
    48% 149 $38,375,000 $257,550 $2,958 4.96%
    47% 135 $39,205,000 $290,407 $3,040 4.89%
    46% 135 $35,085,000 $259,889 $3,033 5.10%
    50-60% 110 $23,000,000 $209,091 $5,023 5.32%
    >60% 5 $2,475,000 $495,000 $2,819 4.45%

    Elevations Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,179 originations. The next most common DTI ratio? 30-36%, with 1,082 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,654 $1,028,540,000 $221,001 $2,765 5.22%
    Not provided 478 $126,870,000 $265,418 $2,912 4.94%
    Asian 199 $49,135,000 $246,910 $2,870 4.94%
    Not applicable 18 $16,490,000 $916,111 $205 5.57%
    American Indian 36 $6,360,000 $176,667 $2,774 5.27%
    Black 30 $6,110,000 $203,667 $3,110 5.23%
    Native Hawaiian or Islander 4 $660,000 $165,000 $2,605 5.53%
    Other Asian 2 $620,000 $310,000 $0 6.95%
    Asian Indian 2 $470,000 $235,000 $2,902 4.13%
    Chinese 2 $460,000 $230,000 $2,633 5.06%
    Other Pacific Islander 1 $415,000 $415,000 $10,194 4.88%
    Native Hawaiian 1 $285,000 $285,000 $2,320 4.50%
    Korean 1 $55,000 $55,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    86.12%

    Elevations Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.73%

    Elevations Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 11 $715,000 $65,000
    NA 5,417 $1,235,755,000 $228,125

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $10,610,000 $2,652,500
    Single Family (1-4 Units):Manufactured 41 $4,115,000 $100,366
    Single Family (1-4 Units):Site-Built 5,383 $1,221,745,000 $226,964

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 801 $129,705,000 $161,929 $2,146 5.41%
    40-60% 486 $140,090,000 $288,251 $2,607 4.70%
    60-80% 1,232 $454,200,000 $368,669 $2,936 4.73%
    80-100% 1,136 $402,670,000 $354,463 $3,114 4.72%
    Over 100% 2 $1,050,000 $525,000 $4,041 4.63%
    Under 20% 1,771 $108,755,000 $61,409 $773 5.84%