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 Other loans. Red Rocks Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, Boulder, and Fort Collins 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 above 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

    668

    Origination Dollar Volume (All Markets)

    $86,020,000

    Awards

    Red Rocks Credit Union 30 Year Conventional Loans gold Red Rocks Credit Union 30 Year Conventional Loans bronze Red Rocks Credit Union 30 Year Conventional Loans gold Red Rocks Credit Union 30 Year Conventional Loans gold
    Show all (4) 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) 510 $66,690,000 $130,765 $846 5.38%
    GREELEY, CO (FHA|USDA|VA) 52 $5,760,000 $110,769 $395 5.95%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 30 $4,390,000 $146,333 $937 5.51%
    BOULDER, CO (FHA|USDA|VA) 20 $3,560,000 $178,000 $694 4.78%
    FORT COLLINS, CO (FHA|USDA|VA) 33 $3,405,000 $103,182 $635 5.85%
    Glenwood Springs, CO (FHA|USDA|VA) 9 $785,000 $87,222 $358 6.55%
    Montrose, CO (FHA|USDA|VA) 5 $445,000 $89,000 $860 4.95%
    Outside of Metro Areas 3 $375,000 $125,000 $148 4.66%
    GRAND JUNCTION, CO (FHA|USDA|VA) 2 $290,000 $145,000 $0 6.00%
    Edwards, CO (FHA|USDA|VA) 2 $200,000 $100,000 $489 6.30%
    PUEBLO, CO (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.25%
    Durango, CO (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%
    Red Rocks Credit Union's top markets include Denver, Greeley, Colorado Springs, Boulder, and Fort Collins 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.

    Red Rocks Credit Union
    Similarity Rank: 384
    Credit Union of Denver
    Similarity Rank: 450
    DENVER COMMUNITY
    Similarity Rank: 651
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1020
    ON TAP
    Similarity Rank: 1056
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1624
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1755
    PARTNER COLORADO
    Similarity Rank: 2004
    DHA FINANCIAL, LLC
    Similarity Rank: 2052
    AVENTA Credit Union
    Similarity Rank: 2065

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 516 $63,200,000 $122,481 n/a 5.19%
    Conventional 152 $22,820,000 $150,132 $764 6.35%

    For 2022, Red Rocks Credit Union's most frequently originated type of loan was HELOC, with 516 originations. Their 2nd most popular type was Conventional, with 152 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 315 $34,975,000 $111,032 $225 5.19%
    Other 182 $19,250,000 $105,769 $247 5.79%
    Cash Out Refi 81 $14,325,000 $176,852 $1,314 5.50%
    Home Purchase 63 $14,205,000 $225,476 $1,424 5.87%
    Refi 26 $3,190,000 $122,692 $923 5.05%
    NA 1 $75,000 $75,000 $0 4.00%

    For 2022, Red Rocks Credit Union's most frequently cited loan purpose was Home Improvement, with 315 originations. The 2nd most popular reason was Other, with 182 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 642 $77,670,000 $120,981 $424 5.50%
    30 Year 19 $7,295,000 $383,947 $2,831 3.98%
    15 Year 6 $940,000 $156,667 $1,090 4.83%
    10 Year 1 $115,000 $115,000 $2,467 2.75%

    For 2022, Red Rocks Credit Union's most frequently cited loan duration was Other, with 642 originations. The 2nd most popular length was 30 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 116 $11,420,000 $98,448
    $1k-2k 28 $10,780,000 $385,000

    Red Rocks Credit Union's average total fees were $2,831, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 116 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 191 $27,395,000 $143,429
    5-6% 155 $21,075,000 $135,968
    4-5% 116 $15,850,000 $136,638
    6-7% 77 $8,235,000 $106,948
    7-8% 56 $5,000,000 $89,286
    Over 8% 54 $5,020,000 $92,963
    2.5-3% 6 $2,450,000 $408,333
    <2.5% 1 $55,000 $55,000

    During 2022, Red Rocks Credit Union's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 3-4%, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 334 $19,430,000 $58,174 $262 5.70%
    $100k-200k 207 $27,175,000 $131,280 $703 5.32%
    $200k-400k 96 $24,660,000 $256,875 $1,439 5.25%
    $400k-600k 29 $13,425,000 $462,931 $2,609 4.25%
    $600k-1MM 2 $1,330,000 $665,000 $3,327 3.81%

    2022 saw Red Rocks Credit Union place emphasis on $100,000 or less loans with 334 originations, totaling $19,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 218 $30,810,000 $141,330 $701 5.54%
    $100k-150k 184 $18,480,000 $100,435 $749 5.50%
    $250k+ 106 $23,210,000 $218,962 $1,043 4.97%
    $75k-100k 101 $9,645,000 $95,495 $828 5.66%
    $50k-75k 48 $3,320,000 $69,167 $552 5.50%
    $50k or less 11 $555,000 $50,455 $1,308 5.18%

    Red Rocks Credit Union lent most frequently to those with incomes in the $150k-250k range, with 218 originations. The second most popular income band? $100k-150k, with 184 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 140 $16,120,000 $115,143 $881 5.52%
    20-30% 128 $17,670,000 $138,047 $667 5.08%
    50-60% 37 $5,805,000 $156,892 $524 5.24%
    45% 33 $4,125,000 $125,000 $186 5.71%
    39% 33 $4,055,000 $122,879 $411 6.23%
    48% 29 $3,045,000 $105,000 $488 5.97%
    46% 27 $3,325,000 $123,148 $855 5.86%
    38% 26 $4,130,000 $158,846 $1,314 5.17%
    40% 24 $3,700,000 $154,167 $775 5.58%
    <20% 24 $4,040,000 $168,333 $1,257 4.36%
    43% 23 $3,985,000 $173,261 $2,679 5.85%
    42% 23 $2,665,000 $115,870 $1,356 5.44%
    44% 23 $2,525,000 $109,783 $265 5.25%
    47% 22 $2,400,000 $109,091 $148 5.52%
    36% 22 $2,360,000 $107,273 $358 5.76%
    41% 21 $2,555,000 $121,667 $463 5.60%
    49% 16 $1,800,000 $112,500 $490 5.48%
    37% 12 $1,300,000 $108,333 $1,020 5.32%
    Exempt% 2 $90,000 $45,000 $0 5.13%
    >60% 1 $105,000 $105,000 $0 4.00%

    Red Rocks Credit Union lent most frequently to those with DTI ratios of 30-36%, with 140 originations. The next most common DTI ratio? 20-30%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 632 $81,730,000 $129,320 $776 5.42%
    Asian 10 $1,480,000 $148,000 $444 6.73%
    Not provided 11 $1,325,000 $120,455 $410 5.28%
    Black 10 $1,000,000 $100,000 $740 6.69%
    Asian Indian 3 $355,000 $118,333 $0 4.00%
    American Indian 1 $105,000 $105,000 $0 3.50%
    Other Pacific Islander 1 $25,000 $25,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    93.01%

    Red Rocks Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.02%

    Red Rocks Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 668 $86,020,000 $128,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    668 $86,020,000 $128,772

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 147 $32,595,000 $221,735 $1,061 5.26%
    40-60% 18 $5,740,000 $318,889 $2,617 4.82%
    60-80% 7 $3,595,000 $513,571 $3,207 3.41%
    80-100% 6 $2,530,000 $421,667 $3,521 4.00%
    Over 100% 2 $140,000 $70,000 $148 5.50%
    Under 20% 488 $41,420,000 $84,877 $331 5.58%