The District Federal Credit Union Mortgage Rates, Fees & Info

Aurora, CO

LEI: 549300JPN8RD09QJ6366

Tax ID: 84-0519975

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
  • 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

    The District Federal Credit Union is a smaller credit union specializing in Cash Out Refi and 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 Pueblo 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. The District Federal 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
    30 Year Cash-out Refi 6.86% 12/16/24
    15 Year Conventional Refi 7.09% 12/16/24
    15 Year Cash-out Refi 7.09% 12/16/24
    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






    Your Estimates

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

    This is not an official calculator from The District Federal 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

    63

    Origination Dollar Volume (All Markets)

    $12,035,000

    Awards

    The District Federal Credit Union 30 Year Conventional Loans bronze The District Federal Credit Union 30 Year Conventional Loans bronze
    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) 60 $11,390,000 $189,833 $2,631 3.06%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $345,000 $345,000 $4,613 3.88%
    PUEBLO, CO (FHA|USDA|VA) 2 $300,000 $150,000 $2,148 2.94%
    The District Federal Credit Union's top markets include Denver, Colorado Springs, and Pueblo among others.

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

    • 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.

    The District Federal Credit Union
    Similarity Rank: 441
    DENVER COMMUNITY
    Similarity Rank: 732
    United Fidelity Bank, fsb
    Similarity Rank: 792
    LANDED HOME LOANS LLC
    Similarity Rank: 1040
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1175
    FOOTHILLS
    Similarity Rank: 1336
    WHITE CROWN FEDERAL CREDIT UNION
    Similarity Rank: 2260
    Adams Bank & Trust
    Similarity Rank: 2550
    DHA FINANCIAL, LLC
    Similarity Rank: 2616
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2808

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 63 $12,035,000 $191,032 $2,648 3.07%

    For 2020, The District Federal Credit Union's most frequently originated type of loan was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 43 $8,835,000 $205,465 $2,835 3.00%
    Refi 16 $3,000,000 $187,500 $2,578 2.90%
    Other 3 $145,000 $48,333 $594 4.38%
    Home Improvement 1 $55,000 $55,000 $0 5.00%

    For 2020, The District Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 43 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 35 $8,035,000 $229,571 $3,195 3.09%
    15 Year 11 $1,935,000 $175,909 $2,387 2.31%
    20 Year 8 $1,080,000 $135,000 $1,513 4.27%
    10 Year 4 $400,000 $100,000 $1,529 2.25%
    Other 4 $530,000 $132,500 $1,999 2.97%
    5 Year 1 $55,000 $55,000 $249 5.00%

    For 2020, The District Federal Credit Union's most frequently cited loan duration was 30 Year, with 35 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 24 $3,900,000 $162,500
    $2k-3k 20 $4,860,000 $243,000
    $<1k 9 $775,000 $86,111
    $3k-4k 7 $2,355,000 $336,429

    The District Federal Credit Union's average total fees were $3,195, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 25 $6,035,000 $241,400
    3-4% 18 $3,470,000 $192,778
    <2.5% 15 $2,245,000 $149,667
    4-5% 3 $155,000 $51,667
    5-6% 1 $85,000 $85,000
    6-7% 1 $45,000 $45,000

    During 2020, The District Federal Credit Union's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 29 $7,715,000 $266,034 $3,597 2.92%
    $100k-200k 23 $3,595,000 $156,304 $2,144 2.88%
    $100,000 or less 11 $725,000 $65,909 $880 3.86%

    2020 saw The District Federal Credit Union place emphasis on $200k-400k loans with 29 originations, totaling $7,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $4,085,000 $177,609 $2,436 3.29%
    $100k-150k 15 $2,905,000 $193,667 $2,685 2.97%
    $75k-100k 10 $2,140,000 $214,000 $2,807 3.00%
    $50k or less 8 $970,000 $121,250 $1,790 2.73%
    $150k-250k 7 $1,935,000 $276,429 $3,992 3.04%

    The District Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $4,100,000 $205,000 $2,965 2.94%
    30-36% 10 $2,010,000 $201,000 $2,718 2.86%
    <20% 6 $950,000 $158,333 $2,495 3.10%
    50-60% 4 $1,030,000 $257,500 $3,365 2.94%
    37% 4 $550,000 $137,500 $1,619 3.47%
    39% 4 $670,000 $167,500 $2,385 2.75%
    38% 3 $595,000 $198,333 $2,481 3.50%
    41% 2 $480,000 $240,000 $2,820 3.06%
    42% 2 $260,000 $130,000 $1,318 3.56%
    43% 2 $290,000 $145,000 $4,105 4.88%
    44% 2 $330,000 $165,000 $2,297 3.00%
    40% 1 $105,000 $105,000 $1,550 2.13%
    45% 1 $205,000 $205,000 $2,652 3.38%
    49% 1 $295,000 $295,000 $2,655 3.00%
    36% 1 $165,000 $165,000 $2,285 2.75%

    The District Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $11,310,000 $188,500 $2,605 3.06%
    Asian 1 $365,000 $365,000 $5,480 3.00%
    American Indian 1 $245,000 $245,000 $3,180 3.50%
    Black 1 $115,000 $115,000 $1,762 3.13%

    Approval Rates

    Total approvals of all applications
    98.44%

    The District Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 63 $12,035,000 $191,032

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 63 $12,035,000 $191,032

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,700,000 $121,429 $1,709 2.86%
    40-60% 24 $4,950,000 $206,250 $2,802 2.91%
    60-80% 11 $2,885,000 $262,273 $3,449 2.93%
    80-100% 8 $2,210,000 $276,250 $3,784 3.06%
    Under 20% 6 $290,000 $48,333 $531 4.46%