Westerra Credit Union Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300GYQ8ZT1NUXRM52

Tax ID: 84-0188017

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
  • Complaints
  • 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

    Westerra Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Westerra Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Fort Collins, Boulder, Colorado Springs, and Greeley among others. We have data for 14 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.

    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
    Home Equity Line of Credit (HELOC) 6.37% 12/3/24
    30 Year Conventional Purchase 6.34% 12/3/24
    30 Year Conventional Refi 6.33% 12/3/24
    30 Year Cash-out Refi 6.47% 12/3/24
    30 Year FHA Purchase 6.27% 12/3/24
    30 Year VA Purchase 6.54% 12/3/24
    15 Year Conventional Purchase 5.74% 12/3/24
    15 Year Conventional Refi 5.88% 12/3/24
    15 Year Cash-out Refi 5.88% 12/3/24
    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






    Your Estimates

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

    This is not an official calculator from Westerra Credit Union. 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

    1,485

    Origination Dollar Volume (All Markets)

    $245,845,000

    Awards

    WESTERRA CREDIT UNION VA Loans gold WESTERRA CREDIT UNION VA Loans gold
    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) 1,392 $227,370,000 $163,341 $3,505 5.15%
    FORT COLLINS, CO (FHA|USDA|VA) 19 $4,695,000 $247,105 $3,876 4.37%
    BOULDER, CO (FHA|USDA|VA) 14 $3,830,000 $273,571 $3,444 5.18%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 21 $3,775,000 $179,762 $3,497 4.96%
    Outside of Metro Areas 13 $2,335,000 $179,615 $3,332 4.88%
    GREELEY, CO (FHA|USDA|VA) 11 $1,265,000 $115,000 $2,586 5.32%
    GRAND JUNCTION, CO (FHA|USDA|VA) 3 $605,000 $201,667 $3,166 4.75%
    PUEBLO, CO (FHA|USDA|VA) 5 $545,000 $109,000 $2,668 5.43%
    Glenwood Springs, CO (FHA|USDA|VA) 2 $410,000 $205,000 $3,121 5.81%
    Breckenridge, CO (FHA|USDA|VA) 1 $355,000 $355,000 $3,431 3.63%
    Fort Morgan, CO (FHA|USDA|VA) 1 $245,000 $245,000 $2,792 4.75%
    Cañon City, CO (FHA|USDA|VA) 1 $245,000 $245,000 $2,950 5.00%
    Montrose, CO (FHA|USDA|VA) 1 $105,000 $105,000 $2,589 4.75%
    Sterling, CO (FHA|USDA|VA) 1 $65,000 $65,000 $1,382 3.75%
    Westerra Credit Union's top markets include Denver, Fort Collins, Boulder, Colorado Springs, and Greeley among others.

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

    • 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.

    ARAPAHOE CREDIT UNION
    Similarity Rank: 256
    The District Federal Credit Union
    Similarity Rank: 372
    DENVER COMMUNITY
    Similarity Rank: 480
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 735
    INTELLILOAN, INC.
    Similarity Rank: 1053
    Red Rocks Credit Union
    Similarity Rank: 1188
    Adams Bank & Trust
    Similarity Rank: 1404
    First American State Bank
    Similarity Rank: 1539
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 1560
    FIRST NATIONS HOME FINANCE CORPORATION
    Similarity Rank: 1869

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 747 $51,765,000 $69,297 n/a 6.13%
    Conventional 718 $187,030,000 $260,487 $3,392 4.14%
    VA 20 $7,050,000 $352,500 $6,905 3.48%

    For 2019, Westerra Credit Union's most frequently originated type of loan was HELOC, with 747 originations. Their 2nd most popular type was Conventional, with 718 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 400 $26,150,000 $65,375 $1,950 6.10%
    Cash Out Refi 355 $95,055,000 $267,761 $3,930 3.98%
    Refi 319 $56,015,000 $175,596 $3,076 4.85%
    Home Purchase 217 $54,615,000 $251,682 $3,593 4.76%
    Other 194 $14,010,000 $72,216 $1,924 6.12%

    For 2019, Westerra Credit Union's most frequently cited loan purpose was Home Improvement, with 400 originations. The 2nd most popular reason was Cash Out Refi, with 355 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 613 $44,015,000 $71,803 $2,158 6.10%
    30 Year 525 $152,385,000 $290,257 $3,749 4.08%
    20 Year 157 $18,985,000 $120,924 $3,438 5.37%
    15 Year 155 $28,565,000 $184,290 $2,841 4.35%
    Other 27 $1,165,000 $43,148 $0 6.28%
    5 Year 7 $305,000 $43,571 $660 6.53%
    1 Year 1 $425,000 $425,000 $0 7.75%

    For 2019, Westerra Credit Union's most frequently cited loan duration was 10 Year, with 613 originations. The 2nd most popular length was 30 Year, with 525 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 295 $74,435,000 $252,322
    $<1k 233 $53,695,000 $230,451
    $2k-3k 80 $24,780,000 $309,750
    $3k-4k 53 $18,165,000 $342,736
    $5k+ 25 $9,935,000 $397,400
    $4k-5k 21 $6,685,000 $318,333

    Westerra Credit Union's average total fees were $3,749, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 295 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 442 $36,360,000 $82,262
    3-4% 422 $117,740,000 $279,005
    4-5% 312 $69,180,000 $221,731
    6-7% 148 $8,710,000 $58,851
    7-8% 85 $5,035,000 $59,235
    Over 8% 48 $2,240,000 $46,667
    2.5-3% 27 $6,575,000 $243,519
    <2.5% 1 $5,000 $5,000

    During 2019, Westerra Credit Union's average interest rate for loans was 4.08%, while their most frequently originated rate bucket for loans was 5-6%, with 442 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 612 $29,380,000 $48,007 $1,592 6.18%
    $200k-400k 398 $114,210,000 $286,960 $3,768 4.00%
    $100k-200k 370 $50,530,000 $136,568 $3,013 4.94%
    $400k-600k 97 $45,225,000 $466,237 $4,263 3.97%
    $600k-1MM 7 $5,145,000 $735,000 $7,669 4.16%
    $1MM+ 1 $1,355,000 $1,355,000 $11,314 4.63%

    2019 saw Westerra Credit Union place emphasis on $100,000 or less loans with 612 originations, totaling $29,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 390 $69,110,000 $177,205 $3,694 5.17%
    $50k-75k 328 $53,130,000 $161,982 $3,327 4.95%
    $75k-100k 295 $50,195,000 $170,153 $3,305 5.07%
    $150k-250k 218 $39,680,000 $182,018 $4,179 5.35%
    $50k or less 210 $22,070,000 $105,095 $3,019 5.12%
    $250k+ 42 $11,100,000 $264,286 $4,897 5.56%

    Westerra Credit Union lent most frequently to those with incomes in the $100k-150k range, with 390 originations. The second most popular income band? $50k-75k, with 328 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 305 $48,665,000 $159,557 $3,499 4.95%
    30-36% 268 $42,620,000 $159,030 $3,535 5.07%
    <20% 115 $14,105,000 $122,652 $3,344 5.39%
    50-60% 81 $7,875,000 $97,222 $3,791 6.12%
    43% 76 $14,650,000 $192,763 $3,540 5.00%
    44% 69 $14,145,000 $205,000 $3,749 4.75%
    42% 62 $11,350,000 $183,065 $3,228 5.11%
    37% 51 $8,775,000 $172,059 $3,213 5.31%
    40% 50 $9,400,000 $188,000 $3,804 5.07%
    39% 48 $8,830,000 $183,958 $3,405 5.11%
    41% 47 $8,655,000 $184,149 $3,024 5.13%
    38% 47 $7,845,000 $166,915 $3,567 4.77%
    36% 46 $9,320,000 $202,609 $3,446 5.23%
    49% 45 $10,445,000 $232,111 $3,413 4.92%
    45% 43 $6,685,000 $155,465 $3,514 5.36%
    47% 40 $6,180,000 $154,500 $2,883 5.23%
    48% 32 $6,220,000 $194,375 $3,774 5.17%
    46% 30 $5,030,000 $167,667 $2,988 5.09%
    >60% 25 $4,245,000 $169,800 $4,014 5.46%

    Westerra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 305 originations. The next most common DTI ratio? 30-36%, with 268 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,148 $190,330,000 $165,793 $3,452 5.14%
    Not provided 202 $35,800,000 $177,228 $3,594 4.92%
    Black 88 $13,680,000 $155,455 $3,736 5.26%
    Asian 14 $2,300,000 $164,286 $4,067 5.63%
    American Indian 9 $1,995,000 $221,667 $3,388 4.61%
    Not applicable 19 $1,065,000 $56,053 $0 6.38%
    Native Hawaiian or Islander 2 $480,000 $240,000 $2,895 3.69%
    Japanese 2 $130,000 $65,000 $675 6.00%
    Korean 1 $65,000 $65,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    83.41%

    Westerra Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    59.66%

    Westerra 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 1,485 $245,845,000 $165,552

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $400,000 $200,000
    Single Family (1-4 Units):Site-Built 1,483 $245,445,000 $165,506

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 276 $33,230,000 $120,399 $2,842 5.21%
    40-60% 209 $50,385,000 $241,077 $3,167 3.99%
    60-80% 296 $93,320,000 $315,270 $4,174 4.09%
    80-100% 110 $36,480,000 $331,636 $3,681 4.11%
    Over 100% 3 $1,285,000 $428,333 $12,054 3.58%
    Under 20% 589 $30,705,000 $52,131 $1,235 6.23%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 7 70.0%
    WESTERN UNION COMPANY, THE Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    WESTERN UNION COMPANY, THE Other type of mortgage Trouble during payment process 2 20.0%