Red Rocks Credit Union Mortgage Rates, Fees & Info

Littleton, CO

LEI: 5493009NZUFSRFRWTY71

Tax ID: 84-0808889

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

Jump to:

  • 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

    Red Rocks Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Red Rocks Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, Greeley, Fort Collins, and Boulder among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Red Rocks 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. Red Rocks 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) 6.96% 12/16/24
    30 Year Conventional Purchase 6.54% 12/16/24
    30 Year Conventional Refi 5.96% 12/16/24
    30 Year Cash-out Refi 6.16% 12/16/24
    15 Year Conventional Purchase 5.92% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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

    802

    Origination Dollar Volume (All Markets)

    $71,050,000

    Awards

    Red Rocks Credit Union 30 Year Conventional Loans silver Red Rocks Credit Union 30 Year Conventional Loans bronze Red Rocks Credit Union 30 Year Conventional Loans silver
    Show all (3) 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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 650 $57,700,000 $88,769 $584 6.26%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 39 $3,765,000 $96,538 $587 6.02%
    GREELEY, CO (FHA|USDA|VA) 39 $3,045,000 $78,077 $538 6.44%
    FORT COLLINS, CO (FHA|USDA|VA) 29 $2,035,000 $70,172 $249 6.95%
    BOULDER, CO (FHA|USDA|VA) 15 $1,715,000 $114,333 $688 6.04%
    Glenwood Springs, CO (FHA|USDA|VA) 9 $875,000 $97,222 $384 6.52%
    Edwards, CO (FHA|USDA|VA) 4 $850,000 $212,500 $620 5.68%
    Montrose, CO (FHA|USDA|VA) 8 $410,000 $51,250 $1,712 5.78%
    Outside of Metro Areas 4 $410,000 $102,500 $744 6.43%
    GRAND JUNCTION, CO (FHA|USDA|VA) 2 $130,000 $65,000 $148 5.00%
    Cañon City, CO (FHA|USDA|VA) 2 $80,000 $40,000 $0 6.00%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.50%
    Red Rocks Credit Union's top markets include Denver, Colorado Springs, Greeley, Fort Collins, and Boulder 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.

    ARAPAHOE CREDIT UNION
    Similarity Rank: 256
    The District Federal Credit Union
    Similarity Rank: 372
    DENVER COMMUNITY
    Similarity Rank: 480
    INTELLILOAN, INC.
    Similarity Rank: 1053
    Red Rocks Credit Union
    Similarity Rank: 1188
    First American State Bank
    Similarity Rank: 1539
    DENVER FIRE DEPARTMENT FEDERAL CREDIT UNION
    Similarity Rank: 2136
    PULTE MORTGAGE LLC
    Similarity Rank: 2331
    Ent Credit Union
    Similarity Rank: 2700
    CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION
    Similarity Rank: 2772

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 441 $37,775,000 $85,658 n/a 5.79%
    Conventional 361 $33,275,000 $92,175 $567 6.84%

    For 2019, Red Rocks Credit Union's most frequently originated type of loan was HELOC, with 441 originations. Their 2nd most popular type was Conventional, with 361 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 330 $23,930,000 $72,515 $270 6.15%
    Cash Out Refi 209 $22,045,000 $105,478 $702 6.45%
    Other 142 $9,060,000 $63,803 $286 6.42%
    Home Purchase 97 $12,665,000 $130,567 $917 6.17%
    Refi 24 $3,350,000 $139,583 $719 5.72%

    For 2019, Red Rocks Credit Union's most frequently cited loan purpose was Home Improvement, with 330 originations. The 2nd most popular reason was Cash Out Refi, with 209 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 780 $64,630,000 $82,859 $429 6.32%
    30 Year 14 $5,100,000 $364,286 $3,207 3.91%
    15 Year 5 $1,215,000 $243,000 $2,598 3.30%
    10 Year 1 $15,000 $15,000 $213 8.49%
    20 Year 1 $65,000 $65,000 $584 6.74%
    5 Year 1 $25,000 $25,000 $213 6.74%

    For 2019, Red Rocks Credit Union's most frequently cited loan duration was Other, with 780 originations. The 2nd most popular length was 30 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 343 $27,925,000 $81,414
    $1k-2k 15 $4,985,000 $332,333
    $2k-3k 1 $165,000 $165,000

    Red Rocks Credit Union's average total fees were $3,207, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 343 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 379 $33,765,000 $89,090
    6-7% 186 $14,740,000 $79,247
    4-5% 80 $7,500,000 $93,750
    Over 8% 75 $4,585,000 $61,133
    7-8% 65 $4,635,000 $71,308
    3-4% 17 $5,825,000 $342,647

    During 2019, Red Rocks Credit Union's average interest rate for loans was 3.91%, while their most frequently originated rate bucket for loans was 5-6%, with 379 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 548 $27,810,000 $50,748 $360 6.45%
    $100k-200k 188 $24,710,000 $131,436 $633 6.04%
    $200k-400k 60 $15,610,000 $260,167 $1,785 5.53%
    $400k-600k 6 $2,920,000 $486,667 $2,999 3.89%

    2019 saw Red Rocks Credit Union place emphasis on $100,000 or less loans with 548 originations, totaling $27,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 258 $21,050,000 $81,589 $504 6.17%
    $150k-250k 248 $26,700,000 $107,661 $668 6.12%
    $75k-100k 121 $7,105,000 $58,719 $467 6.57%
    $50k-75k 82 $3,720,000 $45,366 $470 6.78%
    $250k+ 76 $11,690,000 $153,816 $795 6.05%
    $50k or less 16 $760,000 $47,500 $445 6.14%

    Red Rocks Credit Union lent most frequently to those with incomes in the $100k-150k range, with 258 originations. The second most popular income band? $150k-250k, with 248 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 205 $18,615,000 $90,805 $576 6.35%
    20-30% 158 $14,070,000 $89,051 $638 6.11%
    <20% 45 $4,945,000 $109,889 $1,039 5.46%
    41% 41 $2,715,000 $66,220 $404 6.65%
    36% 40 $3,660,000 $91,500 $414 6.16%
    42% 35 $3,285,000 $93,857 $467 6.97%
    45% 34 $3,250,000 $95,588 $515 6.16%
    43% 32 $2,430,000 $75,938 $427 6.65%
    44% 31 $2,295,000 $74,032 $541 6.40%
    38% 31 $2,725,000 $87,903 $611 6.06%
    39% 26 $2,640,000 $101,538 $708 6.64%
    37% 26 $1,960,000 $75,385 $661 6.34%
    40% 22 $1,800,000 $81,818 $455 6.57%
    46% 22 $1,870,000 $85,000 $511 6.29%
    47% 21 $1,675,000 $79,762 $553 5.96%
    50-60% 19 $2,215,000 $116,579 $400 5.85%
    48% 9 $535,000 $59,444 $310 6.13%
    49% 5 $365,000 $73,000 $442 5.79%

    Red Rocks Credit Union lent most frequently to those with DTI ratios of 30-36%, with 205 originations. The next most common DTI ratio? 20-30%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 775 $68,035,000 $87,787 $548 6.28%
    Not provided 6 $1,350,000 $225,000 $1,367 4.87%
    Asian 9 $885,000 $98,333 $907 5.70%
    Black 11 $675,000 $61,364 $440 6.72%
    Asian Indian 1 $105,000 $105,000 $610 7.24%

    Approval Rates

    Total approvals of all applications
    85.68%

    Red Rocks Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.18%

    Red Rocks Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 802 $71,050,000 $88,591

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 802 $71,050,000 $88,591

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 184 $25,430,000 $138,207 $601 6.09%
    40-60% 21 $5,375,000 $255,952 $2,635 4.74%
    60-80% 10 $3,710,000 $371,000 $2,884 4.77%
    80-100% 3 $865,000 $288,333 $3,609 4.00%
    Over 100% 1 $225,000 $225,000 $3,357 3.75%
    Under 20% 583 $35,445,000 $60,798 $398 6.42%