Credit Union Lending Source Mortgage Rates, Fees & Info
Littleton, COLEI: 549300LBEG1CKJKP5S53
Tax ID: 46-3942332
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Credit Union Lending Source is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Credit Union Lending Source has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Cañon City, Greeley, Pueblo, and Fort Morgan among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Lending Source has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Lending Source 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.
Originations
69Origination Dollar Volume (All Markets)
$345,000Top 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) | 58 | $290,000 | $5,000 | $2,562 | 4.67% |
| Outside of Metro Areas | 6 | $30,000 | $5,000 | $3,411 | 4.68% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $4,910 | 4.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,814 | 5.13% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,722 | 4.88% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,885 | 5.13% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,245 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Credit Union Lending Source based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 493
Similarity Rank: 548
Similarity Rank: 614
Similarity Rank: 985
Similarity Rank: 1080
Similarity Rank: 1148
Similarity Rank: 1404
Similarity Rank: 1470
Similarity Rank: 1776
Similarity Rank: 1927
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $340,000 | $5,000 | $2,697 | 4.68% |
| HELOC | 1 | $5,000 | $5,000 | n/a | 0.00% |
For 2018, Credit Union Lending Source's most frequently originated type of loan was Conventional, with 68 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 38 | $190,000 | $5,000 | $2,369 | 4.67% |
| Cash Out Refi | 27 | $135,000 | $5,000 | $3,122 | 4.70% |
| Refi | 4 | $20,000 | $5,000 | $3,152 | 4.69% |
For 2018, Credit Union Lending Source's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
For 2018, Credit Union Lending Source's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 37 | $185,000 | $5,000 |
| $<1k | 22 | $110,000 | $5,000 |
| $2k-3k | 4 | $20,000 | $5,000 |
| $3k-4k | 3 | $15,000 | $5,000 |
| $5k+ | 1 | $5,000 | $5,000 |
Credit Union Lending Source's average total fees were $3,247, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 37 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 55 | $275,000 | $5,000 |
| 5-6% | 10 | $50,000 | $5,000 |
| 3-4% | 3 | $15,000 | $5,000 |
During 2018, Credit Union Lending Source's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 55 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 69 | $345,000 | $5,000 | $2,697 | 4.68% |
2018 saw Credit Union Lending Source place emphasis on $100,000 or less loans with 69 originations, totaling $345,000 in origination value.
Applicant Income
Credit Union Lending Source lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $50k-75k, with 23 originations.
Applicant Debt to Income Ratio
Credit Union Lending Source lent most frequently to those with DTI ratios of 30-36%, with 15 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Credit Union Lending Source has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.06%
Credit Union Lending Source has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5659.0 | 1 | $5,000 | $5,000 |
| NA | 68 | $340,000 | $5,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 69 | $345,000 | $5,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 69 | $345,000 | $5,000 | $2,697 | 4.68% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Union Mortgage Association, Inc. | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| Credit Union Mortgage Association, Inc. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |