Red Rocks Credit Union Mortgage Rates, Fees & Info

Littleton, CO

LEI: 5493009NZUFSRFRWTY71

Tax ID: 84-0808889

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Mortgage Data

Review & Overview

Red Rocks Credit Union is a smaller credit union specializing in Home Improvement, Other, and Cash Out Refi loans. Red Rocks Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, Greeley, Fort Collins, and Glenwood Springs among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Red Rocks Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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) 6.96% 6/9/24
30 Year Conventional Purchase 6.54% 6/9/24
30 Year Conventional Refi 5.96% 6/9/24
30 Year Cash-out Refi 6.16% 6/9/24
15 Year Conventional Purchase 5.92% 6/9/24
15 Year Conventional Refi 5.68% 6/9/24
15 Year Cash-out Refi 5.68% 6/9/24
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.

Red Rocks Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Red Rocks 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

192

Origination Dollar Volume (All Markets)

$18,620,000

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) 160 $15,990,000 $99,938 $140 9.47%
COLORADO SPRINGS, CO (FHA|USDA|VA) 12 $690,000 $57,500 $322 10.38%
GREELEY, CO (FHA|USDA|VA) 4 $540,000 $135,000 $0 10.31%
FORT COLLINS, CO (FHA|USDA|VA) 5 $415,000 $83,000 $198 9.04%
Glenwood Springs, CO (FHA|USDA|VA) 3 $325,000 $108,333 $0 10.16%
BOULDER, CO (FHA|USDA|VA) 3 $235,000 $78,333 $0 9.49%
Edwards, CO (FHA|USDA|VA) 2 $210,000 $105,000 $0 10.98%
Outside of Metro Areas 1 $115,000 $115,000 $0 9.25%
Montrose, CO (FHA|USDA|VA) 1 $55,000 $55,000 $198 9.25%
Fort Morgan, CO (FHA|USDA|VA) 1 $45,000 $45,000 $148 12.30%
Red Rocks Credit Union's top markets include Denver, Colorado Springs, Greeley, Fort Collins, and Glenwood Springs among others.

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

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

    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    Shea Mortgage Inc.
    Similarity Rank: 589
    HOME MORTGAGE ALLIANCE, LLC
    Similarity Rank: 942
    ON TAP
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    WESTERRA CREDIT UNION
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    Ent Credit Union
    Similarity Rank: 1296
    PREMIER MEMBERS CREDIT UNION
    Similarity Rank: 1792
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1804
    IDEAL HOME LOANS LLC
    Similarity Rank: 2093

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 160 $16,190,000 $101,188 n/a 9.45%
    Conventional 32 $2,430,000 $75,938 $152 10.20%

    For 2023, Red Rocks Credit Union's most frequently originated type of loan was HELOC, with 160 originations. Their 2nd most popular type was Conventional, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 68 $6,260,000 $92,059 $167 9.20%
    Other 58 $4,240,000 $73,103 $117 9.72%
    Cash Out Refi 58 $7,310,000 $126,034 $165 9.66%
    Refi 5 $495,000 $99,000 $148 11.83%
    Home Purchase 3 $315,000 $105,000 $310 9.83%

    For 2023, Red Rocks Credit Union's most frequently cited loan purpose was Home Improvement, with 68 originations. The 2nd most popular reason was Other, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 192 $18,620,000 $96,979 $152 9.57%

    For 2023, Red Rocks Credit Union's most frequently cited loan duration was Other, with 192 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 32 $2,430,000 $75,938

    Red Rocks 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 32 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 187 $18,105,000 $96,818
    7-8% 5 $515,000 $103,000

    During 2023, Red Rocks Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 111 $6,355,000 $57,252 $173 9.66%
    $100k-200k 63 $8,195,000 $130,079 $40 9.48%
    $200k-400k 18 $4,070,000 $226,111 $0 9.34%

    2023 saw Red Rocks Credit Union place emphasis on $100,000 or less loans with 111 originations, totaling $6,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 74 $7,470,000 $100,946 $136 9.49%
    $100k-150k 44 $4,070,000 $92,500 $100 9.78%
    $250k+ 31 $4,165,000 $134,355 $395 9.66%
    $75k-100k 27 $2,065,000 $76,481 $107 9.57%
    $50k-75k 13 $635,000 $48,846 $198 9.20%
    $50k or less 3 $215,000 $71,667 $74 9.41%

    Red Rocks Credit Union lent most frequently to those with incomes in the $150k-250k range, with 74 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 37 $3,155,000 $85,270 $186 9.73%
    20-30% 35 $3,505,000 $100,143 $289 9.12%
    <20% 16 $1,700,000 $106,250 $0 9.22%
    50-60% 11 $1,005,000 $91,364 $0 9.24%
    45% 10 $1,290,000 $129,000 $198 9.74%
    37% 9 $1,015,000 $112,778 $0 9.57%
    39% 9 $915,000 $101,667 $136 10.18%
    47% 7 $565,000 $80,714 $148 10.51%
    46% 7 $365,000 $52,143 $0 10.14%
    43% 7 $635,000 $90,714 $0 9.10%
    >60% 6 $400,000 $66,667 $149 9.90%
    36% 5 $415,000 $83,000 $198 9.69%
    38% 5 $625,000 $125,000 $0 9.63%
    44% 5 $475,000 $95,000 $148 10.65%
    41% 5 $565,000 $113,000 $0 9.55%
    48% 5 $885,000 $177,000 $0 8.87%
    49% 5 $455,000 $91,000 $0 10.34%
    42% 4 $350,000 $87,500 $0 9.23%
    40% 4 $300,000 $75,000 $173 9.06%

    Red Rocks Credit Union lent most frequently to those with DTI ratios of 30-36%, with 37 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 185 $18,175,000 $98,243 $152 9.53%
    Black 5 $255,000 $51,000 $0 11.00%
    Not provided 1 $115,000 $115,000 $0 9.20%
    Asian 1 $75,000 $75,000 $148 10.25%

    Approval Rates

    Total approvals of all applications
    93.77%

    Red Rocks Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.85%

    Red Rocks 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
    0.0 160 $16,190,000 $101,188
    NA 32 $2,430,000 $75,938

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    192 $18,620,000 $96,979

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $4,210,000 $175,417 $66 9.60%
    40-60% 1 $395,000 $395,000 $0 8.99%
    Under 20% 167 $14,015,000 $83,922 $161 9.57%