The District Federal Credit Union Mortgage Rates, Fees & Info
Aurora, COLEI: 549300JPN8RD09QJ6366
Tax ID: 84-0519975
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The District Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Cash Out Refi loans. The District Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, and Breckenridge among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)The District Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. 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 |
|---|---|---|
| 30 Year Cash-out Refi | 6.86% | 5/26/24 |
| 15 Year Conventional Refi | 7.09% | 5/26/24 |
| 15 Year Cash-out Refi | 7.09% | 5/26/24 |
| 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. | ||
The District Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
35Origination Dollar Volume (All Markets)
$4,295,000Top 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) | 33 | $3,765,000 | $114,091 | $0 | 4.82% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 4.88% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against The District Federal 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 |
|---|---|---|---|---|---|
| Conventional | 35 | $4,295,000 | $122,714 | $0 | 4.82% |
For 2018, The District Federal Credit Union's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
For 2018, The District Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 14 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2018, The District Federal Credit Union's most frequently cited loan duration was 15 Year, with 14 originations. The 2nd most popular length was 20 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 22 | $2,190,000 | $99,545 |
| $2k-3k | 4 | $960,000 | $240,000 |
| $1k-2k | 1 | $145,000 | $145,000 |
| $3k-4k | 1 | $345,000 | $345,000 |
The District Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 26 | $3,220,000 | $123,846 |
| 3-4% | 3 | $385,000 | $128,333 |
| 5-6% | 3 | $445,000 | $148,333 |
| 6-7% | 2 | $110,000 | $55,000 |
| 7-8% | 1 | $135,000 | $135,000 |
During 2018, The District Federal Credit Union's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 26 originations.
Loan Sizing
2018 saw The District Federal Credit Union place emphasis on $100,000 or less loans with 17 originations, totaling $815,000 in origination value.
Applicant Income
The District Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
The District Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? 40%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 32 | $3,860,000 | $120,625 | $0 | 4.82% |
| Black | 3 | $435,000 | $145,000 | $0 | 4.92% |
Approval Rates
Total approvals of all applications92.50%
The District Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.29%
The District Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 13 | $885,000 | $68,077 |
| 139.0 | 4 | $410,000 | $102,500 |
| 1849.0 | 1 | $145,000 | $145,000 |
| 250.0 | 3 | $585,000 | $195,000 |
| 2560.0 | 1 | $215,000 | $215,000 |
| 2802.0 | 1 | $255,000 | $255,000 |
| 2870.0 | 1 | $245,000 | $245,000 |
| 339.0 | 4 | $660,000 | $165,000 |
| 3815.0 | 1 | $345,000 | $345,000 |
| 39.0 | 1 | $35,000 | $35,000 |
| 89.0 | 1 | $55,000 | $55,000 |
| NA | 4 | $460,000 | $115,000 |