Denver Fire Department Federal Credit Union Mortgage Rates, Fees & Info
Denver, COLEI: 549300BJPOL64WXEFY56
Tax ID: 84-0404725
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Mortgage Data
Review & Overview
Denver Fire Department Federal Credit Union is a smaller credit union specializing in Other loans. Denver Fire Department Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Fort Collins, Breckenridge, Greeley, and Edwards among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Denver Fire Department Federal 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. Denver Fire Department Federal Credit Union is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 30 Year Conventional Purchase | 6.70% | 5/4/24 |
| 30 Year Cash-out Refi | 6.75% | 5/4/24 |
| 15 Year Conventional Refi | 5.56% | 5/4/24 |
| 15 Year Cash-out Refi | 5.56% | 5/4/24 |
| 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. | ||
Denver Fire Department Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
91Origination Dollar Volume (All Markets)
$13,035,000Top 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) | 76 | $11,750,000 | $154,605 | $1,979 | 4.69% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $0 | 4.58% |
| Outside of Metro Areas | 2 | $250,000 | $125,000 | $2,958 | 3.44% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 5.50% |
| GREELEY, CO (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $464 | 6.31% |
| Edwards, CO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $425 | 4.50% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $576 | 3.75% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 6.25% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against DENVER FIRE DEPARTMENT FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 384
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 60 | $7,340,000 | $122,333 | n/a | 5.03% |
| Conventional | 31 | $5,695,000 | $183,710 | $1,806 | 4.29% |
For 2022, Denver Fire Department Federal Credit Union's most frequently originated type of loan was HELOC, with 60 originations. Their 2nd most popular type was Conventional, with 31 originations.
Loan Reason
For 2022, Denver Fire Department Federal Credit Union's most frequently cited loan purpose was Other, with 74 originations. The 2nd most popular reason was Home Improvement, with 10 originations.
Loan Duration/Length
For 2022, Denver Fire Department Federal Credit Union's most frequently cited loan duration was Other, with 73 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 14 | $2,820,000 | $201,429 |
| $5k+ | 3 | $1,375,000 | $458,333 |
| $1k-2k | 1 | $125,000 | $125,000 |
| $3k-4k | 1 | $315,000 | $315,000 |
Denver Fire Department Federal Credit Union's average total fees were $6,083, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.
Interest Rates
During 2022, Denver Fire Department Federal Credit Union's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 3-4%, with 37 originations.
Loan Sizing
2022 saw Denver Fire Department Federal Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $3,210,000 in origination value.
Applicant Income
Denver Fire Department Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 30 originations. The second most popular income band? $100k-150k, with 28 originations.
Applicant Debt to Income Ratio
Denver Fire Department Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 90 | $12,600,000 | $140,000 | $1,621 | 4.77% |
| American Indian | 1 | $435,000 | $435,000 | $6,987 | 5.75% |
Approval Rates
Total approvals of all applications93.06%
Denver Fire Department Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination59.34%
Denver Fire Department 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 |
|---|---|---|---|
| NA | 91 | $13,035,000 | $143,242 |