Credit Union Of Colorado A Federal Credit Union Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300ABEFRFKC9S8368

Tax ID: 84-0174408

5 stars - out of 5 stars, based on 49 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Credit Union Of Colorado A Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Other, and Refi loans. Credit Union Of Colorado A Federal Credit Union has a high proportion of conventional loans. Their top markets include Denver, Greeley, Fort Collins, Grand Junction, and Colorado Springs among others. Credit Union Of Colorado A Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Credit Union Of Colorado A Federal Credit Union is typically an average fee lendor.


Originations

2,373

Origination Dollar Volume (All Markets)

$411,615,000
Show all (7) awards

Relative Rate

Credit Union Of Colorado A Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.97%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.18%.

Relative Fees

Credit Union Of Colorado A Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,419.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1,327 $243,355,000 $183,387 $3,024 3.35%
GREELEY, CO (FHA|USDA|VA) 228 $39,570,000 $173,553 $3,119 3.34%
FORT COLLINS, CO (FHA|USDA|VA) 133 $23,155,000 $174,098 $2,974 3.37%
GRAND JUNCTION, CO (FHA|USDA|VA) 161 $22,365,000 $138,913 $2,862 3.28%
COLORADO SPRINGS, CO (FHA|USDA|VA) 109 $17,705,000 $162,431 $3,003 3.36%
PUEBLO, CO (FHA|USDA|VA) 111 $15,495,000 $139,595 $2,778 3.13%
Outside of Metro Areas 81 $11,685,000 $144,259 $2,931 3.35%
Cañon City, CO (FHA|USDA|VA) 81 $10,545,000 $130,185 $2,891 3.22%
Durango, CO (FHA|USDA|VA) 55 $9,195,000 $167,182 $2,669 3.46%
BOULDER, CO (FHA|USDA|VA) 31 $7,165,000 $231,129 $3,061 3.29%
Glenwood Springs, CO (FHA|USDA|VA) 20 $4,160,000 $208,000 $3,819 3.42%
Montrose, CO (FHA|USDA|VA) 13 $2,385,000 $183,462 $2,095 2.85%
Breckenridge, CO (FHA|USDA|VA) 7 $1,735,000 $247,857 $3,300 2.93%
Steamboat Springs, CO (FHA|USDA|VA) 6 $1,610,000 $268,333 $4,211 2.98%
Sterling, CO (FHA|USDA|VA) 3 $545,000 $181,667 $2,755 2.50%
Edwards, CO (FHA|USDA|VA) 4 $510,000 $127,500 $0 3.69%
Craig, CO (FHA|USDA|VA) 1 $245,000 $245,000 $2,528 2.88%
Fort Morgan, CO (FHA|USDA|VA) 2 $190,000 $95,000 $3,843 3.94%

Credit Union Of Colorado A Federal Credit Union's top markets include Denver, Greeley, Fort Collins, Grand Junction, and Colorado Springs among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,373 $411,615,000 $173,458 $2,993 3.33%

For the 2021 period, Credit Union Of Colorado A Federal Credit Union's most frequently originated loan type of loans were Conventional, with 2,373 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 810 $141,270,000 $174,407 $2,937 3.40%
Other 669 $89,165,000 $133,281 $2,643 3.54%
Home Improvement 394 $57,730,000 $146,523 $3,207 3.43%
Refi 357 $87,235,000 $244,356 $2,985 2.71%
Home Purchase 143 $36,215,000 $253,252 $3,615 3.18%

For the 2021, Credit Union Of Colorado A Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 810 originations. The 2nd most popular reason of loans were Other, with 669 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 1,162 $99,720,000 $85,818 $510 3.82%
30 Year 768 $223,500,000 $291,016 $3,419 2.97%
15 Year 220 $45,040,000 $204,727 $2,789 2.51%
20 Year 121 $29,705,000 $245,496 $2,986 2.72%
10 Year 88 $12,850,000 $146,023 $2,275 2.84%
5 Year 14 $800,000 $57,143 $922 3.36%

For the 2021, Credit Union Of Colorado A Federal Credit Union's most frequently cited loan length of loans were Other, with 1,162 originations. The 2nd most popular length of loans were 30 Year, with 768 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 721 $175,805,000 $243,835
$3k-4k 202 $57,500,000 $284,653
$2k-3k 179 $35,825,000 $200,140
$1k-2k 126 $21,790,000 $172,937
$5k+ 59 $27,105,000 $459,407

$3,419 of loans were Credit Union Of Colorado A Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 721 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,131 $142,855,000 $126,309
2.5-3% 574 $169,330,000 $295,000
<2.5% 352 $74,400,000 $211,364
4-5% 203 $17,845,000 $87,906
5-6% 96 $6,650,000 $69,271
7-8% 4 $210,000 $52,500
Over 8% 4 $200,000 $50,000
6-7% 1 $45,000 $45,000

During 2021, Credit Union Of Colorado A Federal Credit Union's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 3-4%, with 1,131 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 912 $47,530,000 $52,116 $1,121 3.79%
$200k-400k 667 $184,935,000 $277,264 $3,438 2.95%
$100k-200k 628 $90,170,000 $143,583 $2,608 3.18%
$400k-600k 125 $59,065,000 $472,520 $4,297 2.93%
$600k-1MM 38 $26,660,000 $701,579 $4,446 2.84%
$1MM+ 3 $3,255,000 $1,085,000 $3,168 2.67%

2021 saw Credit Union Of Colorado A Federal Credit Union place emphasis on $100,000 or less loans with 912 originations, totaling $47,530,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 602 $110,590,000 $183,704 $3,178 3.40%
$50k-75k 534 $77,940,000 $145,955 $2,791 3.28%
$75k-100k 468 $78,470,000 $167,671 $3,052 3.32%
$150k-250k 394 $88,330,000 $224,188 $3,269 3.40%
$50k or less 301 $33,985,000 $112,907 $2,474 3.17%
$250k+ 72 $22,030,000 $305,972 $3,816 3.43%

Credit Union Of Colorado A Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 602 originations. The second most popular income band? $50k-75k, with 534 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 624 $110,610,000 $177,260 $3,141 3.25%
30-36% 419 $78,335,000 $186,957 $3,078 3.26%
<20% 363 $54,005,000 $148,774 $2,798 3.22%
43% 77 $15,415,000 $200,195 $3,201 3.39%
44% 74 $12,810,000 $173,108 $3,324 3.62%
36% 73 $13,035,000 $178,562 $2,539 3.40%
42% 71 $13,105,000 $184,577 $3,318 3.38%
37% 68 $11,340,000 $166,765 $2,722 3.31%
38% 67 $12,465,000 $186,045 $2,481 3.30%
40% 66 $10,960,000 $166,061 $2,730 3.46%
48% 65 $11,735,000 $180,538 $3,554 3.46%
41% 65 $10,755,000 $165,462 $2,500 3.20%
39% 65 $13,065,000 $201,000 $3,311 3.32%
49% 61 $6,515,000 $106,803 $2,440 3.84%
45% 52 $8,630,000 $165,962 $2,483 3.62%
46% 51 $8,635,000 $169,314 $2,519 3.54%
47% 49 $7,205,000 $147,041 $3,103 3.56%
50-60% 48 $9,390,000 $195,625 $3,130 3.42%
>60% 15 $3,605,000 $240,333 $3,586 3.66%

Credit Union Of Colorado A Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 624 originations. The next most common DTI ratio? 30-36%, with 419 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,867 $316,135,000 $169,328 $2,959 3.33%
Not provided 362 $66,160,000 $182,762 $3,002 3.36%
Black 62 $13,070,000 $210,806 $2,977 3.15%
American Indian 43 $7,135,000 $165,930 $3,846 3.37%
Asian 27 $6,365,000 $235,741 $3,878 3.32%
Native Hawaiian 9 $1,025,000 $113,889 $4,485 3.51%
Asian Indian 1 $1,005,000 $1,005,000 $3,148 2.38%
Other Asian 1 $475,000 $475,000 $2,513 2.88%
Filipino 1 $245,000 $245,000 $2,398 2.75%

Approval Rates

Total approvals of all applications
87.77%

Credit Union Of Colorado A Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
50.76%

Credit Union Of Colorado A Federal 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 63 $5,965,000 $94,683
1006.0 1 $105,000 $105,000
1068.0 1 $65,000 $65,000
1091.0 16 $2,860,000 $178,750
1103.0 1 $325,000 $325,000
1116.0 1 $115,000 $115,000
1118.0 1 $155,000 $155,000
1168.0 1 $255,000 $255,000
117.0 8 $860,000 $107,500
1243.0 1 $75,000 $75,000
1268.0 3 $545,000 $181,667
1291.0 1 $55,000 $55,000
1293.0 1 $125,000 $125,000
1318.0 1 $255,000 $255,000
1368.0 2 $440,000 $220,000
1593.0 1 $255,000 $255,000
168.0 177 $9,965,000 $56,299
1768.0 1 $205,000 $205,000
178.0 1 $35,000 $35,000
183.0 5 $195,000 $39,000
193.0 44 $3,250,000 $73,864
208.0 2 $130,000 $65,000
218.0 9 $1,255,000 $139,444
223.0 1 $55,000 $55,000
243.0 9 $1,965,000 $218,333
258.0 1 $205,000 $205,000
284.5 1 $105,000 $105,000
285.0 81 $5,375,000 $66,358
300.0 1 $65,000 $65,000
310.0 2 $70,000 $35,000
343.0 1 $105,000 $105,000
368.0 2 $140,000 $70,000
398.0 1 $105,000 $105,000
418.0 1 $65,000 $65,000
435.0 3 $385,000 $128,333
468.0 27 $4,815,000 $178,333
485.0 1 $105,000 $105,000
493.0 6 $1,270,000 $211,667
503.0 2 $510,000 $255,000
508.0 1 $155,000 $155,000
585.0 22 $3,850,000 $175,000
600.0 3 $475,000 $158,333
610.0 2 $330,000 $165,000
615.0 1 $185,000 $185,000
623.0 1 $45,000 $45,000
663.0 1 $205,000 $205,000
668.0 3 $455,000 $151,667
718.0 1 $155,000 $155,000
775.0 1 $55,000 $55,000
785.0 2 $460,000 $230,000
791.0 70 $4,430,000 $63,286
801.0 2 $70,000 $35,000
806.0 3 $145,000 $48,333
816.0 2 $250,000 $125,000
821.0 1 $55,000 $55,000
841.0 2 $250,000 $125,000
848.0 6 $380,000 $63,333
850.0 1 $255,000 $255,000
868.47 1 $25,000 $25,000
891.0 1 $45,000 $45,000
908.0 1 $55,000 $55,000
918.0 1 $45,000 $45,000
943.0 5 $375,000 $75,000
968.0 5 $605,000 $121,000
983.0 1 $35,000 $35,000
991.0 3 $215,000 $71,667
NA 1,748 $355,180,000 $203,192

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,373 $411,615,000 $173,458

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 435 $65,255,000 $150,011 $2,349 3.26%
40-60% 427 $98,195,000 $229,965 $2,994 2.83%
60-80% 455 $148,695,000 $326,802 $3,750 2.97%
80-100% 121 $41,875,000 $346,074 $3,941 3.08%
Under 20% 935 $57,595,000 $61,599 $835 3.80%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%