Rocky Mountain Law Enforcement Fcu Mortgage Rates, Fees & Info

DENVER, CO

LEI: 549300EB335VA0W9HB45

Tax ID: 84-0425202

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

    Rocky Mountain Law Enforcement Fcu is a smaller credit union specializing in 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, Grand Junction, Pueblo, and Edwards 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 above 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 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.

    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% 11/22/24
    30 Year Conventional Refi 5.60% 11/22/24
    30 Year Cash-out Refi 6.34% 11/22/24
    15 Year Conventional Purchase 6.77% 11/22/24
    15 Year Conventional Refi 5.75% 11/22/24
    15 Year Cash-out Refi 5.75% 11/22/24
    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

    119

    Origination Dollar Volume (All Markets)

    $28,565,000

    Awards

    ROCKY MOUNTAIN LAW ENFORCEMENT FCU 30 Year Conventional Loans bronze ROCKY MOUNTAIN LAW ENFORCEMENT FCU 30 Year Conventional Loans silver
    Show all (2) 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) 104 $25,260,000 $242,885 $3,406 6.35%
    GREELEY, CO (FHA|USDA|VA) 9 $2,355,000 $261,667 $3,787 6.40%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $455,000 $455,000 $7,099 3.24%
    Outside of Metro Areas 1 $245,000 $245,000 $5,501 6.10%
    PUEBLO, CO (FHA|USDA|VA) 1 $85,000 $85,000 $282 10.50%
    Edwards, CO (FHA|USDA|VA) 1 $65,000 $65,000 $192 4.00%
    BOULDER, CO (FHA|USDA|VA) 1 $55,000 $55,000 $197 8.25%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $45,000 $45,000 $242 11.25%
    Rocky Mountain Law Enforcement Fcu's top markets include Denver, Greeley, Grand Junction, Pueblo, and Edwards among others.

    Their top states include:
  • Colorado (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.

    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
    Conventional 119 $28,565,000 $240,042 $3,376 6.39%

    For 2022, Rocky Mountain Law Enforcement Fcu's most frequently originated type of loan was Conventional, with 119 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 36 $9,960,000 $276,667 $4,194 5.22%
    Home Purchase 27 $11,875,000 $439,815 $6,540 4.88%
    Other 26 $1,700,000 $65,385 $298 9.87%
    Home Improvement 24 $2,950,000 $122,917 $1,397 6.76%
    Refi 6 $2,080,000 $346,667 $5,154 3.79%

    For 2022, Rocky Mountain Law Enforcement Fcu's most frequently cited loan purpose was Cash Out Refi, with 36 originations. The 2nd most popular reason was Home Purchase, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 57 $24,285,000 $426,053 $6,426 4.22%
    15 Year 52 $3,660,000 $70,385 $470 8.69%
    5 Year 4 $120,000 $30,000 $219 8.69%
    Other 3 $185,000 $61,667 $241 4.58%
    20 Year 2 $290,000 $145,000 $3,011 4.88%
    10 Year 1 $25,000 $25,000 $242 10.50%

    For 2022, Rocky Mountain Law Enforcement Fcu's most frequently cited loan duration was 30 Year, with 57 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $4k-5k 14 $6,400,000 $457,143
    $3k-4k 13 $5,215,000 $401,154
    $5k+ 13 $8,085,000 $621,923
    $2k-3k 12 $3,930,000 $327,500
    $1k-2k 9 $1,485,000 $165,000
    $<1k 1 $95,000 $95,000

    Rocky Mountain Law Enforcement Fcu's average total fees were $6,426, while their most frequently occuring range of origination fees (closing costs) were in the $4k-5k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 33 $2,245,000 $68,030
    3-4% 22 $8,610,000 $391,364
    5-6% 20 $4,360,000 $218,000
    4-5% 15 $5,715,000 $381,000
    2.5-3% 13 $4,975,000 $382,692
    6-7% 8 $1,180,000 $147,500
    7-8% 7 $1,135,000 $162,143
    <2.5% 1 $345,000 $345,000

    During 2022, Rocky Mountain Law Enforcement Fcu's average interest rate for loans was 4.22%, while their most frequently originated rate bucket for loans was Over 8%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,225,000 $45,408 $302 8.83%
    $400k-600k 27 $13,465,000 $498,704 $7,383 4.33%
    $200k-400k 22 $6,900,000 $313,636 $5,003 4.18%
    $100k-200k 16 $2,150,000 $134,375 $1,751 6.15%
    $600k-1MM 4 $2,580,000 $645,000 $7,811 4.15%
    $1MM+ 1 $1,245,000 $1,245,000 $15,177 4.38%

    2022 saw Rocky Mountain Law Enforcement Fcu place emphasis on $100,000 or less loans with 49 originations, totaling $2,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 35 $9,835,000 $281,000 $3,780 6.38%
    $100k-150k 33 $9,865,000 $298,939 $4,242 6.10%
    $75k-100k 23 $4,115,000 $178,913 $2,731 7.04%
    $50k-75k 18 $2,140,000 $118,889 $1,617 6.18%
    $50k or less 7 $1,155,000 $165,000 $2,843 5.56%
    $250k+ 3 $1,455,000 $485,000 $5,304 8.13%

    Rocky Mountain Law Enforcement Fcu lent most frequently to those with incomes in the $150k-250k range, with 35 originations. The second most popular income band? $100k-150k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $8,465,000 $291,897 $3,974 5.97%
    30-36% 24 $4,890,000 $203,750 $2,671 6.73%
    <20% 11 $1,835,000 $166,818 $2,223 5.50%
    36% 7 $895,000 $127,857 $2,056 7.89%
    50-60% 6 $1,600,000 $266,667 $4,533 6.16%
    37% 6 $1,740,000 $290,000 $4,202 7.04%
    44% 6 $1,580,000 $263,333 $3,689 5.36%
    38% 5 $1,545,000 $309,000 $3,853 8.08%
    41% 5 $965,000 $193,000 $2,546 6.55%
    39% 4 $420,000 $105,000 $1,661 8.06%
    42% 3 $855,000 $285,000 $4,758 3.24%
    45% 3 $615,000 $205,000 $3,631 5.83%
    40% 3 $95,000 $31,667 $242 9.25%
    43% 2 $1,040,000 $520,000 $7,676 3.49%
    47% 2 $450,000 $225,000 $3,413 8.45%
    49% 2 $840,000 $420,000 $6,554 4.72%

    Rocky Mountain Law Enforcement Fcu lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 50 $18,040,000 $360,800 $5,484 4.71%
    Not provided 60 $8,010,000 $133,500 $1,576 7.83%
    Other Pacific Islander 2 $1,060,000 $530,000 $6,450 5.15%
    Native Hawaiian or Islander 1 $605,000 $605,000 $8,451 4.50%
    Black 4 $550,000 $137,500 $2,040 6.06%
    American Indian 1 $285,000 $285,000 $5,298 4.25%
    Not applicable 1 $15,000 $15,000 $242 12.00%

    Approval Rates

    Total approvals of all applications
    93.96%

    Rocky Mountain Law Enforcement Fcu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.03%

    Rocky Mountain Law Enforcement Fcu has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 119 $28,565,000 $240,042

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    119 $28,565,000 $240,042

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,195,000 $170,714 $2,875 5.18%
    40-60% 11 $3,905,000 $355,000 $5,052 4.98%
    60-80% 25 $10,285,000 $411,400 $6,611 3.94%
    80-100% 20 $10,080,000 $504,000 $6,880 4.54%
    Under 20% 56 $3,100,000 $55,357 $360 8.58%