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 Cash Out Refi, Refi, and Home Purchase loans. Westerra Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Denver, Boulder, Greeley, Colorado Springs, and Fort Collins among others. We have data for 16 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% 4/28/24
    30 Year Conventional Purchase 6.34% 4/28/24
    30 Year Conventional Refi 6.33% 4/28/24
    30 Year Cash-out Refi 6.47% 4/28/24
    30 Year FHA Purchase 6.27% 4/28/24
    30 Year VA Purchase 6.54% 4/28/24
    15 Year Conventional Purchase 5.74% 4/28/24
    15 Year Conventional Refi 5.88% 4/28/24
    15 Year Cash-out Refi 5.88% 4/28/24
    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

    2,296

    Origination Dollar Volume (All Markets)

    $528,160,000
    Show all (7) 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) 2,084 $466,990,000 $224,083 $3,071 3.44%
    BOULDER, CO (FHA|USDA|VA) 35 $14,515,000 $414,714 $3,878 3.35%
    GREELEY, CO (FHA|USDA|VA) 39 $10,765,000 $276,026 $3,347 3.30%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 36 $8,200,000 $227,778 $3,801 3.18%
    Outside of Metro Areas 32 $8,110,000 $253,438 $3,325 3.07%
    FORT COLLINS, CO (FHA|USDA|VA) 17 $4,835,000 $284,412 $4,338 2.99%
    PUEBLO, CO (FHA|USDA|VA) 15 $3,045,000 $203,000 $2,717 3.00%
    Breckenridge, CO (FHA|USDA|VA) 8 $2,660,000 $332,500 $4,347 3.36%
    Edwards, CO (FHA|USDA|VA) 5 $2,545,000 $509,000 $7,568 2.93%
    Glenwood Springs, CO (FHA|USDA|VA) 6 $2,090,000 $348,333 $3,972 3.13%
    Steamboat Springs, CO (FHA|USDA|VA) 4 $1,520,000 $380,000 $2,983 2.94%
    Montrose, CO (FHA|USDA|VA) 2 $1,060,000 $530,000 $5,049 3.06%
    GRAND JUNCTION, CO (FHA|USDA|VA) 5 $755,000 $151,000 $2,674 3.07%
    Durango, CO (FHA|USDA|VA) 3 $715,000 $238,333 $2,437 3.29%
    Cañon City, CO (FHA|USDA|VA) 4 $330,000 $82,500 $3,113 3.31%
    Craig, CO (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%
    Westerra Credit Union's top markets include Denver, Boulder, Greeley, Colorado Springs, 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: 882
    AVENTA Credit Union
    Similarity Rank: 930
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1344
    DENVER COMMUNITY
    Similarity Rank: 1540
    Red Rocks Credit Union
    Similarity Rank: 1830
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1984
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 2170
    Shea Mortgage Inc.
    Similarity Rank: 2432
    FOOTHILLS
    Similarity Rank: 2604
    FIRST NATIONS HOME FINANCE CORPORATION
    Similarity Rank: 2670

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,298 $423,230,000 $326,063 $3,089 2.83%
    HELOC 980 $99,350,000 $101,378 n/a 4.19%
    VA 15 $4,615,000 $307,667 $6,496 2.67%
    FHA 3 $965,000 $321,667 $8,696 2.71%

    For 2021, Westerra Credit Union's most frequently originated type of loan was Conventional, with 1,298 originations. Their 2nd most popular type was HELOC, with 980 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 795 $217,115,000 $273,101 $3,192 3.21%
    Home Improvement 566 $58,090,000 $102,633 $3,053 4.08%
    Refi 423 $119,745,000 $283,085 $2,716 2.67%
    Home Purchase 284 $111,750,000 $393,486 $3,793 3.13%
    Other 228 $21,460,000 $94,123 $3,171 4.22%

    For 2021, Westerra Credit Union's most frequently cited loan purpose was Cash Out Refi, with 795 originations. The 2nd most popular reason was Home Improvement, with 566 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,042 $116,940,000 $112,226 $2,699 4.08%
    30 Year 936 $342,670,000 $366,100 $3,368 2.96%
    15 Year 257 $58,455,000 $227,451 $2,580 2.55%
    10 Year 58 $9,680,000 $166,897 $2,523 2.34%
    1 Year 2 $350,000 $175,000 $0 5.87%
    Other 1 $65,000 $65,000 $0 4.00%

    For 2021, Westerra Credit Union's most frequently cited loan duration was 20 Year, with 1,042 originations. The 2nd most popular length was 30 Year, with 936 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 691 $225,945,000 $326,983
    $1k-2k 332 $88,630,000 $266,958
    $2k-3k 106 $42,080,000 $396,981
    $3k-4k 47 $21,585,000 $459,255
    $5k+ 37 $22,085,000 $596,892
    $4k-5k 21 $9,545,000 $454,524

    Westerra Credit Union's average total fees were $3,368, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 691 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,014 $187,590,000 $185,000
    2.5-3% 629 $200,445,000 $318,672
    <2.5% 348 $111,740,000 $321,092
    4-5% 216 $21,850,000 $101,157
    5-6% 44 $3,420,000 $77,727
    6-7% 29 $1,935,000 $66,724
    7-8% 11 $825,000 $75,000
    Over 8% 5 $355,000 $71,000

    During 2021, Westerra Credit Union's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 3-4%, with 1,014 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 701 $200,485,000 $285,999 $2,973 2.99%
    $100k-200k 675 $97,885,000 $145,015 $2,560 3.46%
    $100,000 or less 580 $30,550,000 $52,672 $2,159 4.17%
    $400k-600k 255 $122,525,000 $480,490 $3,628 2.99%
    $600k-1MM 69 $52,935,000 $767,174 $5,028 2.71%
    $1MM+ 16 $23,780,000 $1,486,250 $7,094 2.59%

    2021 saw Westerra Credit Union place emphasis on $200k-400k loans with 701 originations, totaling $200,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 554 $125,430,000 $226,408 $3,072 3.42%
    $150k-250k 476 $127,350,000 $267,542 $3,437 3.51%
    $50k-75k 428 $79,250,000 $185,164 $2,889 3.35%
    $75k-100k 414 $81,330,000 $196,449 $3,234 3.45%
    $50k or less 222 $32,380,000 $145,856 $2,646 3.22%
    $250k+ 181 $73,325,000 $405,110 $4,265 3.49%

    Westerra Credit Union lent most frequently to those with incomes in the $100k-150k range, with 554 originations. The second most popular income band? $150k-250k, with 476 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 599 $127,715,000 $213,214 $2,945 3.35%
    30-36% 402 $99,180,000 $246,716 $3,295 3.47%
    <20% 276 $55,980,000 $202,826 $2,751 3.24%
    41% 87 $26,105,000 $300,057 $3,391 3.38%
    44% 86 $19,920,000 $231,628 $2,917 3.21%
    39% 79 $16,895,000 $213,861 $3,154 3.40%
    40% 78 $21,490,000 $275,513 $3,707 3.48%
    37% 76 $19,550,000 $257,237 $2,960 3.37%
    42% 73 $19,895,000 $272,534 $3,315 3.35%
    38% 73 $18,595,000 $254,726 $3,506 3.41%
    43% 68 $16,540,000 $243,235 $3,215 3.53%
    36% 67 $15,975,000 $238,433 $2,729 3.40%
    45% 63 $13,775,000 $218,651 $3,467 3.69%
    48% 58 $11,680,000 $201,379 $3,181 3.65%
    50-60% 57 $8,315,000 $145,877 $6,496 3.96%
    47% 50 $12,680,000 $253,600 $3,199 3.46%
    46% 49 $12,235,000 $249,694 $3,987 3.67%
    49% 48 $11,030,000 $229,792 $2,859 3.42%
    >60% 6 $570,000 $95,000 $0 4.00%

    Westerra Credit Union lent most frequently to those with DTI ratios of 20-30%, with 599 originations. The next most common DTI ratio? 30-36%, with 402 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,769 $402,285,000 $227,408 $3,128 3.42%
    Not provided 359 $92,075,000 $256,476 $3,331 3.35%
    Black 86 $14,930,000 $173,605 $2,744 3.70%
    Asian 41 $8,585,000 $209,390 $2,690 3.36%
    American Indian 25 $6,325,000 $253,000 $3,302 3.31%
    Other Asian 5 $1,015,000 $203,000 $2,384 3.37%
    Filipino 3 $825,000 $275,000 $4,733 3.87%
    Native Hawaiian or Islander 2 $530,000 $265,000 $3,389 2.50%
    Other Pacific Islander 1 $475,000 $475,000 $2,680 2.75%
    Chinese 2 $380,000 $190,000 $3,147 2.63%
    Japanese 1 $325,000 $325,000 $2,061 3.50%
    Korean 1 $325,000 $325,000 $2,790 2.50%
    Vietnamese 1 $85,000 $85,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    89.26%

    Westerra Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.51%

    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 2,296 $528,160,000 $230,035

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,296 $528,160,000 $230,035

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 532 $94,930,000 $178,440 $2,717 3.36%
    40-60% 453 $131,215,000 $289,658 $2,691 2.90%
    60-80% 437 $180,205,000 $412,368 $3,595 2.97%
    80-100% 157 $69,925,000 $445,382 $4,099 2.90%
    Under 20% 717 $51,885,000 $72,364 $2,215 4.16%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 1 100.0%