Credit Union Lending Source Mortgage Rates, Fees & Info

Littleton, CO

LEI: 549300LBEG1CKJKP5S53

Tax ID: 46-3942332

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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.

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Originations

69

Origination Dollar Volume (All Markets)

$345,000

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) 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%
Credit Union Lending Source's top markets include Denver, Cañon City, Greeley, Pueblo, and Fort Morgan among others.

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

    Guaranty Bank and Trust Co
    Similarity Rank: 493
    DENVER COMMUNITY
    Similarity Rank: 548
    First American State Bank
    Similarity Rank: 985
    Aurora Financial, LLC
    Similarity Rank: 1080
    Credit Union Lending Source
    Similarity Rank: 1148
    Calatlantic Morgage Inc.
    Similarity Rank: 1404
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1470
    Elevations Credit Union
    Similarity Rank: 1776
    U S WIDE FINANCIAL LLC
    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $245,000 $5,000 $3,247 4.75%
    20 Year 13 $65,000 $5,000 $736 4.68%
    15 Year 5 $25,000 $5,000 $2,786 3.93%
    Other 2 $10,000 $5,000 $1,319 5.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 42 $210,000 $5,000 $2,631 4.74%
    $50k-75k 23 $115,000 $5,000 $2,960 4.65%
    $75k-100k 2 $10,000 $5,000 $2,543 4.56%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 15 $75,000 $5,000 $3,282 4.69%
    <20% 6 $30,000 $5,000 $1,752 4.80%
    37% 5 $25,000 $5,000 $3,030 4.60%
    42% 5 $25,000 $5,000 $2,599 4.75%
    20-30% 5 $25,000 $5,000 $2,921 4.08%
    39% 4 $20,000 $5,000 $2,603 4.66%
    49% 4 $20,000 $5,000 $3,346 4.88%
    50-60% 4 $20,000 $5,000 $1,758 5.00%
    48% 3 $15,000 $5,000 $2,869 4.75%
    47% 3 $15,000 $5,000 $3,105 5.00%
    44% 3 $15,000 $5,000 $1,482 4.54%
    41% 3 $15,000 $5,000 $1,906 5.04%
    36% 2 $10,000 $5,000 $2,064 4.25%
    43% 2 $10,000 $5,000 $3,544 5.00%
    46% 1 $5,000 $5,000 $3,319 4.50%
    40% 1 $5,000 $5,000 $3,645 4.75%
    45% 1 $5,000 $5,000 $4,139 4.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $300,000 $5,000 $2,599 4.71%
    Black 4 $20,000 $5,000 $2,864 4.31%
    Not provided 3 $15,000 $5,000 $3,597 4.58%
    1 $5,000 $5,000 $4,133 5.13%
    Asian 1 $5,000 $5,000 $3,579 4.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    84.06%

    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%