Rocky Mountain Law Enforcement Fcu Mortgage Rates, Fees & Info
DENVER, COLEI: 549300EB335VA0W9HB45
Tax ID: 84-0425202
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Mortgage Data
Review & Overview
Rocky Mountain Law Enforcement Fcu is a smaller credit union specializing in 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, Fort Collins, Edwards, and Colorado Springs among others. We have data for 8 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 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 |
|---|---|---|
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
106Origination Dollar Volume (All Markets)
$20,270,000Top 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) | 93 | $17,255,000 | $185,538 | $4,293 | 4.13% |
| GREELEY, CO (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $4,795 | 4.18% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,434 | 4.05% |
| Edwards, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $6,698 | 3.85% |
| Outside of Metro Areas | 2 | $300,000 | $150,000 | $3,468 | 4.94% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,850 | 4.85% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,882 | 4.50% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 106 | $20,270,000 | $191,226 | $4,311 | 4.17% |
For 2019, Rocky Mountain Law Enforcement Fcu's most frequently originated type of loan was Conventional, with 106 originations.
Loan Reason
For 2019, Rocky Mountain Law Enforcement Fcu's most frequently cited loan purpose was Refi, with 50 originations. The 2nd most popular reason was Other, with 26 originations.
Loan Duration/Length
For 2019, Rocky Mountain Law Enforcement Fcu's most frequently cited loan duration was 30 Year, with 59 originations. The 2nd most popular length was Other, with 39 originations.
Origination Fees/Closing Costs
Rocky Mountain Law Enforcement Fcu's average total fees were $4,524, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 35 | $8,775,000 | $250,714 |
| 4-5% | 28 | $8,110,000 | $289,643 |
| 5-6% | 3 | $935,000 | $311,667 |
| 6-7% | 1 | $185,000 | $185,000 |
During 2019, Rocky Mountain Law Enforcement Fcu's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 3-4%, with 35 originations.
Loan Sizing
2019 saw Rocky Mountain Law Enforcement Fcu place emphasis on $100,000 or less loans with 43 originations, totaling $2,455,000 in origination value.
Applicant Income
Rocky Mountain Law Enforcement Fcu lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $150k-250k, with 22 originations.
Applicant Debt to Income Ratio
Rocky Mountain Law Enforcement Fcu lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.45%
Rocky Mountain Law Enforcement Fcu has an average approval rate.
Pick Rate
Approvals leading to origination77.36%
Rocky Mountain Law Enforcement Fcu has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 106 | $20,270,000 | $191,226 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 106 | $20,270,000 | $191,226 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ROCKY MOUNTAIN MORTGAGE COMPANY | FHA mortgage | Closing on a mortgage | 1 | 100.0% |