Rocky Mountain Law Enforcement Fcu Mortgage Rates, Fees & Info

DENVER, CO

LEI: 549300EB335VA0W9HB45

Tax ID: 84-0425202

5 stars - Updated: 11/21/24 - out of 5 stars, based on 7 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Rocky Mountain Law Enforcement Fcu is a smaller credit union specializing in Other, Cash Out Refi, and Home Purchase loans. Rocky Mountain Law Enforcement Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, and Fort Collins among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rocky Mountain Law Enforcement Fcu 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. Rocky Mountain Law Enforcement Fcu 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.28% 11/21/24
    30 Year Conventional Refi 5.60% 11/21/24
    30 Year Cash-out Refi 6.34% 11/21/24
    15 Year Conventional Purchase 6.77% 11/21/24
    15 Year Conventional Refi 5.75% 11/21/24
    15 Year Cash-out Refi 5.75% 11/21/24
    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.

    Rocky Mountain Law Enforcement Fcu Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Rocky Mountain Law Enforcement Fcu. 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

    55

    Origination Dollar Volume (All Markets)

    $7,675,000

    Relative Rate

    Rocky Mountain Law Enforcement Fcu's average 30 year fixed mortgage rate was 6.4%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.08%.

    Relative Fees (Closing Costs)

    Rocky Mountain Law Enforcement Fcu's average total fees/closing costs for a 30 year fixed rate mortgage were $4,490.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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) 50 $7,330,000 $146,600 $1,191 9.75%
    GREELEY, CO (FHA|USDA|VA) 2 $160,000 $80,000 $207 11.13%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $140,000 $70,000 $207 12.25%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $45,000 $45,000 $424 14.50%
    Rocky Mountain Law Enforcement Fcu's top markets include Denver, Greeley, Colorado Springs, and Fort Collins among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ROCKY MOUNTAIN LAW ENFORCEMENT FCU 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
    Similarity Rank: 1140
    WESTERRA CREDIT UNION
    Similarity Rank: 1275
    Ent Credit Union
    Similarity Rank: 1296
    PREMIER MEMBERS CREDIT UNION
    Similarity Rank: 1792
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1804
    CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION
    Similarity Rank: 1900
    IDEAL HOME LOANS LLC
    Similarity Rank: 2093

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $7,675,000 $139,545 $1,105 9.98%

    For 2023, Rocky Mountain Law Enforcement Fcu's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 24 $1,590,000 $66,250 $227 11.33%
    Home Improvement 10 $700,000 $70,000 $209 10.90%
    Cash Out Refi 9 $2,045,000 $227,222 $2,048 9.40%
    Home Purchase 6 $2,490,000 $415,000 $4,341 6.63%
    Refi 6 $850,000 $141,667 $1,461 7.23%

    For 2023, Rocky Mountain Law Enforcement Fcu's most frequently cited loan purpose was Other, with 24 originations. The 2nd most popular reason was Home Improvement, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 41 $3,345,000 $81,585 $439 10.93%
    30 Year 9 $3,905,000 $433,889 $4,490 6.40%
    10 Year 4 $220,000 $55,000 $204 9.81%
    Other 1 $205,000 $205,000 $1,557 3.85%

    For 2023, Rocky Mountain Law Enforcement Fcu's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 30 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 6 $2,190,000 $365,000
    $1k-2k 2 $290,000 $145,000
    $2k-3k 2 $470,000 $235,000
    $3k-4k 1 $365,000 $365,000
    $4k-5k 1 $505,000 $505,000
    $5k+ 1 $785,000 $785,000

    Rocky Mountain Law Enforcement Fcu's average total fees were $4,490, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 41 $3,325,000 $81,098
    6-7% 6 $2,590,000 $431,667
    5-6% 3 $785,000 $261,667
    7-8% 3 $375,000 $125,000
    2.5-3% 1 $395,000 $395,000
    3-4% 1 $205,000 $205,000

    During 2023, Rocky Mountain Law Enforcement Fcu's average interest rate for loans was 6.40%, while their most frequently originated rate bucket for loans was Over 8%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $2,010,000 $59,118 $214 11.15%
    $100k-200k 9 $1,115,000 $123,889 $849 9.64%
    $200k-400k 8 $2,250,000 $281,250 $2,653 7.28%
    $400k-600k 3 $1,515,000 $505,000 $4,676 6.00%
    $600k-1MM 1 $785,000 $785,000 $10,631 6.50%

    2023 saw Rocky Mountain Law Enforcement Fcu place emphasis on $100,000 or less loans with 34 originations, totaling $2,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $1,750,000 $109,375 $1,061 10.01%
    $150k-250k 13 $2,265,000 $174,231 $1,230 9.29%
    $75k-100k 11 $1,105,000 $100,455 $643 11.07%
    $50k-75k 10 $1,170,000 $117,000 $646 9.64%
    $250k+ 4 $1,320,000 $330,000 $3,525 9.31%
    $50k or less 1 $65,000 $65,000 $172 12.50%

    Rocky Mountain Law Enforcement Fcu lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $1,485,000 $87,353 $834 10.03%
    30-36% 12 $1,970,000 $164,167 $1,570 11.86%
    <20% 6 $840,000 $140,000 $1,040 9.71%
    36% 5 $415,000 $83,000 $239 10.80%
    40% 2 $210,000 $105,000 $230 8.88%
    44% 2 $360,000 $180,000 $1,002 8.75%
    46% 2 $1,090,000 $545,000 $5,806 6.38%
    43% 2 $460,000 $230,000 $974 6.00%
    >60% 1 $125,000 $125,000 $172 10.25%
    37% 1 $105,000 $105,000 $177 14.25%
    41% 1 $25,000 $25,000 $242 9.50%
    42% 1 $205,000 $205,000 $1,557 3.85%
    45% 1 $75,000 $75,000 $267 8.00%
    47% 1 $275,000 $275,000 $1,798 6.25%
    50-60% 1 $35,000 $35,000 $100 11.50%

    Rocky Mountain Law Enforcement Fcu lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $4,480,000 $172,308 $1,543 9.84%
    Not provided 24 $2,250,000 $93,750 $382 10.09%
    Black 2 $810,000 $405,000 $5,437 8.00%
    Not applicable 3 $135,000 $45,000 $204 11.58%

    Approval Rates

    Total approvals of all applications
    88.04%

    Rocky Mountain Law Enforcement Fcu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.82%

    Rocky Mountain Law Enforcement Fcu 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 55 $7,675,000 $139,545

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $7,675,000 $139,545

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,470,000 $183,750 $1,695 8.26%
    40-60% 2 $730,000 $365,000 $2,090 5.75%
    60-80% 4 $1,820,000 $455,000 $5,095 6.53%
    80-100% 2 $1,090,000 $545,000 $5,806 6.38%
    Under 20% 39 $2,565,000 $65,769 $284 11.08%