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 Cash Out Refi and Home Improvement loans. The District Federal Credit Union has a high proportion of conventional loans. Their top two markets are Denver and Colorado Springs .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 an average 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 relatively high 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% | 11/17/24 |
| 15 Year Conventional Refi | 7.09% | 11/17/24 |
| 15 Year Cash-out Refi | 7.09% | 11/17/24 |
| 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
15Origination Dollar Volume (All Markets)
$2,775,000Top 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) | 14 | $2,520,000 | $180,000 | $2,422 | 5.46% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $249 | 5.00% |
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 | 15 | $2,775,000 | $185,000 | $2,277 | 5.43% |
For 2022, The District Federal Credit Union's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
For 2022, The District Federal Credit Union's most frequently cited loan purpose was Other, with 5 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
For 2022, The District Federal Credit Union's most frequently cited loan duration was 20 Year, with 6 originations. The 2nd most popular length was 30 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 2 | $360,000 | $180,000 |
| $5k+ | 2 | $1,030,000 | $515,000 |
| $4k-5k | 1 | $275,000 | $275,000 |
The District Federal Credit Union's average total fees were $7,070, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 4 | $960,000 | $240,000 |
| 6-7% | 4 | $290,000 | $72,500 |
| 5-6% | 3 | $645,000 | $215,000 |
| 3-4% | 2 | $210,000 | $105,000 |
| 2.5-3% | 1 | $165,000 | $165,000 |
| 7-8% | 1 | $505,000 | $505,000 |
During 2022, The District Federal Credit Union's average interest rate for loans was 5.25%, while their most frequently originated rate bucket for loans was 4-5%, with 4 originations.
Loan Sizing
2022 saw The District Federal Credit Union place emphasis on $100,000 or less loans with 6 originations, totaling $220,000 in origination value.
Applicant Income
The District Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
The District Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15 | $2,775,000 | $185,000 |