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

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  • 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 Refi and Cash Out Refi loans. Westerra Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Boulder, Colorado Springs, Greeley, and Fort Collins 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    2,645

    Origination Dollar Volume (All Markets)

    $664,295,000
    Show all (10) 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) 2,415 $598,035,000 $247,634 $2,879 3.35%
    BOULDER, CO (FHA|USDA|VA) 45 $15,745,000 $349,889 $3,158 3.05%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 44 $11,690,000 $265,682 $2,936 3.47%
    GREELEY, CO (FHA|USDA|VA) 37 $10,165,000 $274,730 $2,802 3.22%
    Outside of Metro Areas 32 $7,910,000 $247,188 $3,004 3.24%
    FORT COLLINS, CO (FHA|USDA|VA) 27 $7,205,000 $266,852 $2,491 3.21%
    Breckenridge, CO (FHA|USDA|VA) 14 $4,660,000 $332,857 $3,653 2.93%
    Glenwood Springs, CO (FHA|USDA|VA) 5 $2,445,000 $489,000 $2,991 2.88%
    GRAND JUNCTION, CO (FHA|USDA|VA) 7 $1,965,000 $280,714 $2,733 3.11%
    Edwards, CO (FHA|USDA|VA) 5 $1,625,000 $325,000 $4,599 3.62%
    Steamboat Springs, CO (FHA|USDA|VA) 3 $1,035,000 $345,000 $2,974 3.46%
    Durango, CO (FHA|USDA|VA) 3 $615,000 $205,000 $3,874 3.33%
    Cañon City, CO (FHA|USDA|VA) 2 $440,000 $220,000 $2,666 2.88%
    PUEBLO, CO (FHA|USDA|VA) 3 $395,000 $131,667 $2,267 3.04%
    Montrose, CO (FHA|USDA|VA) 3 $365,000 $121,667 $2,274 3.63%
    Westerra Credit Union's top markets include Denver, Boulder, Colorado Springs, Greeley, and Fort Collins 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.

    The District Federal Credit Union
    Similarity Rank: 441
    DENVER COMMUNITY
    Similarity Rank: 732
    United Fidelity Bank, fsb
    Similarity Rank: 792
    AVENTA Credit Union
    Similarity Rank: 915
    LANDED HOME LOANS LLC
    Similarity Rank: 1040
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1175
    FOOTHILLS
    Similarity Rank: 1336
    FIRST NATIONS HOME FINANCE CORPORATION
    Similarity Rank: 1936
    WHITE CROWN FEDERAL CREDIT UNION
    Similarity Rank: 2260
    DHA FINANCIAL, LLC
    Similarity Rank: 2616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,989 $601,615,000 $302,471 $2,863 3.02%
    HELOC 620 $51,600,000 $83,226 n/a 4.42%
    VA 36 $11,080,000 $307,778 $4,209 2.67%

    For 2020, Westerra Credit Union's most frequently originated type of loan was Conventional, with 1,989 originations. Their 2nd most popular type was HELOC, with 620 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,069 $301,145,000 $281,707 $2,676 3.06%
    Cash Out Refi 894 $221,900,000 $248,210 $3,171 3.36%
    Home Improvement 356 $30,850,000 $86,657 $2,447 4.32%
    Home Purchase 249 $88,825,000 $356,727 $3,032 3.09%
    Other 77 $21,575,000 $280,195 $2,550 3.25%

    For 2020, Westerra Credit Union's most frequently cited loan purpose was Refi, with 1,069 originations. The 2nd most popular reason was Cash Out Refi, with 894 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,325 $443,885,000 $335,008 $3,052 3.13%
    20 Year 858 $115,960,000 $135,152 $2,723 4.00%
    15 Year 385 $92,045,000 $239,078 $2,557 2.74%
    10 Year 76 $12,320,000 $162,105 $2,326 2.61%
    5 Year 1 $85,000 $85,000 $1,150 5.50%

    For 2020, Westerra Credit Union's most frequently cited loan duration was 30 Year, with 1,325 originations. The 2nd most popular length was 20 Year, with 858 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,123 $329,395,000 $293,317
    $1k-2k 500 $146,210,000 $292,420
    $2k-3k 149 $52,315,000 $351,107
    $3k-4k 65 $24,345,000 $374,538
    $5k+ 38 $17,850,000 $469,737
    $4k-5k 35 $15,095,000 $431,286

    Westerra Credit Union's average total fees were $3,052, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,123 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,210 $292,360,000 $241,620
    2.5-3% 904 $279,580,000 $309,270
    <2.5% 281 $69,555,000 $247,527
    4-5% 165 $17,165,000 $104,030
    5-6% 46 $3,190,000 $69,348
    6-7% 26 $1,630,000 $62,692
    7-8% 7 $475,000 $67,857
    Over 8% 6 $340,000 $56,667

    During 2020, Westerra Credit Union's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 1,210 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,150 $336,710,000 $292,791 $2,891 3.05%
    $100k-200k 641 $94,735,000 $147,793 $2,419 3.37%
    $100,000 or less 459 $23,805,000 $51,863 $2,040 4.30%
    $400k-600k 318 $148,470,000 $466,887 $3,369 3.05%
    $600k-1MM 69 $49,835,000 $722,246 $3,984 2.96%
    $1MM+ 8 $10,740,000 $1,342,500 $4,768 2.95%

    2020 saw Westerra Credit Union place emphasis on $200k-400k loans with 1,150 originations, totaling $336,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 713 $185,665,000 $260,400 $2,944 3.35%
    $150k-250k 545 $167,695,000 $307,697 $3,028 3.29%
    $50k-75k 493 $94,185,000 $191,045 $2,729 3.36%
    $75k-100k 482 $109,220,000 $226,598 $2,804 3.32%
    $50k or less 231 $32,355,000 $140,065 $2,428 3.43%
    $250k+ 165 $70,195,000 $425,424 $3,656 3.38%

    Westerra Credit Union lent most frequently to those with incomes in the $100k-150k range, with 713 originations. The second most popular income band? $150k-250k, with 545 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 769 $196,155,000 $255,078 $2,844 3.28%
    30-36% 516 $126,340,000 $244,845 $2,903 3.40%
    <20% 397 $90,965,000 $229,131 $2,699 3.23%
    42% 104 $25,580,000 $245,962 $3,082 3.60%
    38% 94 $25,360,000 $269,787 $3,003 3.50%
    43% 86 $18,520,000 $215,349 $2,715 3.52%
    44% 84 $21,020,000 $250,238 $3,388 3.47%
    40% 80 $19,530,000 $244,125 $3,067 3.51%
    36% 78 $20,780,000 $266,410 $3,044 3.40%
    37% 67 $17,575,000 $262,313 $3,161 3.40%
    41% 66 $17,060,000 $258,485 $3,116 3.47%
    39% 63 $18,255,000 $289,762 $3,137 3.35%
    49% 55 $16,065,000 $292,091 $2,765 3.06%
    47% 49 $14,775,000 $301,531 $2,694 3.09%
    46% 41 $11,445,000 $279,146 $2,737 3.16%
    48% 37 $10,685,000 $288,784 $3,004 3.11%
    45% 37 $8,445,000 $228,243 $2,560 3.46%
    50-60% 7 $1,395,000 $199,286 $1,760 3.41%
    >60% 2 $330,000 $165,000 $0 4.38%

    Westerra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 769 originations. The next most common DTI ratio? 30-36%, with 516 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,042 $515,240,000 $252,321 $2,899 3.34%
    Not provided 430 $108,550,000 $252,442 $2,865 3.32%
    Black 93 $20,365,000 $218,978 $2,685 3.55%
    Asian 40 $10,760,000 $269,000 $3,111 3.10%
    American Indian 27 $5,725,000 $212,037 $2,812 3.31%
    Asian Indian 3 $1,415,000 $471,667 $2,709 3.33%
    Other Asian 2 $670,000 $335,000 $2,422 3.00%
    Native Hawaiian or Islander 3 $625,000 $208,333 $2,349 2.88%
    Chinese 3 $615,000 $205,000 $2,106 3.58%
    Japanese 1 $285,000 $285,000 $6,497 2.63%
    Filipino 1 $45,000 $45,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    89.18%

    Westerra Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.97%

    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 2,645 $664,295,000 $251,151

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $970,000 $242,500
    Single Family (1-4 Units):Site-Built 2,641 $663,325,000 $251,164

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 481 $75,945,000 $157,890 $2,446 3.38%
    40-60% 701 $196,125,000 $279,779 $2,634 2.98%
    60-80% 794 $285,920,000 $360,101 $3,208 3.12%
    80-100% 204 $78,010,000 $382,402 $3,301 3.07%
    Under 20% 465 $28,295,000 $60,849 $2,024 4.34%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 1 50.0%
    WESTERN UNION COMPANY, THE Other type of mortgage Trouble during payment process 1 50.0%