Westerra Credit Union Mortgage Rates, Fees & Info
Denver, COLEI: 549300GYQ8ZT1NUXRM52
Tax ID: 84-0188017
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Mortgage Data
Review & Overview
Westerra Credit Union is a smaller credit union specializing in Home Improvement, Home Purchase, and Cash Out Refi loans. Westerra Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Fort Collins, Colorado Springs, Boulder, and Greeley among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Westerra Credit Union 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. Westerra Credit Union 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.37% | 4/22/24 |
| 30 Year Conventional Purchase | 6.34% | 4/22/24 |
| 30 Year Conventional Refi | 6.33% | 4/22/24 |
| 30 Year Cash-out Refi | 6.47% | 4/22/24 |
| 30 Year FHA Purchase | 6.27% | 4/22/24 |
| 30 Year VA Purchase | 6.54% | 4/22/24 |
| 15 Year Conventional Purchase | 5.74% | 4/22/24 |
| 15 Year Conventional Refi | 5.88% | 4/22/24 |
| 15 Year Cash-out Refi | 5.88% | 4/22/24 |
| 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. | ||
Westerra Credit Union Mortgage Calculator
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This is not an official calculator from Westerra Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,759Origination Dollar Volume (All Markets)
$211,545,000Top 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) | 1,650 | $195,150,000 | $118,273 | $3,626 | 5.12% |
| FORT COLLINS, CO (FHA|USDA|VA) | 20 | $3,480,000 | $174,000 | $4,011 | 4.77% |
| Outside of Metro Areas | 19 | $3,325,000 | $175,000 | $3,544 | 4.84% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 18 | $2,330,000 | $129,444 | $2,800 | 5.01% |
| BOULDER, CO (FHA|USDA|VA) | 16 | $2,000,000 | $125,000 | $2,159 | 4.86% |
| GREELEY, CO (FHA|USDA|VA) | 17 | $1,905,000 | $112,059 | $3,558 | 5.66% |
| Edwards, CO (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $3,158 | 4.88% |
| Breckenridge, CO (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $4,144 | 4.97% |
| Cañon City, CO (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $6,853 | 4.81% |
| Fort Morgan, CO (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,727 | 5.00% |
| Durango, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,792 | 4.50% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $2,509 | 6.46% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,633 | 4.63% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against WESTERRA CREDIT UNION 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 |
|---|---|---|---|---|---|
| HELOC | 1,230 | $88,330,000 | $71,813 | n/a | 5.18% |
| Conventional | 529 | $123,215,000 | $232,921 | $3,608 | 4.95% |
For 2018, Westerra Credit Union's most frequently originated type of loan was HELOC, with 1,230 originations. Their 2nd most popular type was Conventional, with 529 originations.
Loan Reason
For 2018, Westerra Credit Union's most frequently cited loan purpose was Home Improvement, with 687 originations. The 2nd most popular reason was Other, with 328 originations.
Loan Duration/Length
For 2018, Westerra Credit Union's most frequently cited loan duration was 10 Year, with 1,211 originations. The 2nd most popular length was 30 Year, with 391 originations.
Origination Fees/Closing Costs
Westerra Credit Union's average total fees were $3,985, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 303 originations.
Interest Rates
During 2018, Westerra Credit Union's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 3-4%, with 558 originations.
Loan Sizing
2018 saw Westerra Credit Union place emphasis on $100,000 or less loans with 940 originations, totaling $46,220,000 in origination value.
Applicant Income
Westerra Credit Union lent most frequently to those with incomes in the $100k-150k range, with 436 originations. The second most popular income band? $50k-75k, with 416 originations.
Applicant Debt to Income Ratio
Westerra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 464 originations. The next most common DTI ratio? 30-36%, with 298 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.24%
Westerra Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination72.31%
Westerra Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,759 | $211,545,000 | $120,264 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $235,000 | $235,000 |
| Single Family (1-4 Units):Site-Built | 1,758 | $211,310,000 | $120,199 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WESTERN UNION COMPANY, THE | Conventional home mortgage | Trouble during payment process | 15 | 65.2% |
| WESTERN UNION COMPANY, THE | FHA mortgage | Trouble during payment process | 1 | 4.3% |
| WESTERN UNION COMPANY, THE | Other type of mortgage | Trouble during payment process | 3 | 13.0% |
| WESTERN UNION COMPANY, THE | VA mortgage | Trouble during payment process | 4 | 17.4% |