Premier Members Credit Union Mortgage Rates, Fees & Info

Boulder, CO

LEI: 549300LG5340S24M4N89

Tax ID: 84-0500890

3.3 stars - Updated: 12/16/24 - out of 5 stars, based on 35 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Premier Members Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Premier Members Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Denver, Boulder, Greeley, Fort Collins, and Colorado Springs among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Premier Members Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Premier Members 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 6.32% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    30 Year Cash-out Refi 6.55% 12/16/24
    30 Year FHA Purchase 7.14% 12/16/24
    15 Year Conventional Purchase 5.73% 12/16/24
    15 Year Conventional Refi 5.80% 12/16/24
    15 Year Cash-out Refi 5.80% 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.

    Premier Members Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Premier Members 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

    1,195

    Origination Dollar Volume (All Markets)

    $209,965,000

    Awards

    PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans silver PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans gold PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans gold PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans gold
    Show all (4) awards

    Relative Rate

    Premier Members Credit Union's average 30 year fixed mortgage rate was 7.68%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 1.2%.

    Relative Fees (Closing Costs)

    Premier Members Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,184.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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) 560 $100,050,000 $178,661 $7,654 7.79%
    BOULDER, CO (FHA|USDA|VA) 281 $52,385,000 $186,423 $7,209 7.51%
    GREELEY, CO (FHA|USDA|VA) 168 $28,280,000 $168,333 $7,512 7.61%
    FORT COLLINS, CO (FHA|USDA|VA) 117 $17,685,000 $151,154 $7,038 7.67%
    Outside of Metro Areas 19 $3,625,000 $190,789 $5,473 7.50%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 16 $3,040,000 $190,000 $6,853 6.74%
    GRAND JUNCTION, CO (FHA|USDA|VA) 7 $1,155,000 $165,000 $6,108 6.49%
    PUEBLO, CO (FHA|USDA|VA) 12 $890,000 $74,167 $0 8.14%
    Steamboat Springs, CO (FHA|USDA|VA) 6 $680,000 $113,333 $0 7.75%
    Montrose, CO (FHA|USDA|VA) 4 $650,000 $162,500 $5,733 7.59%
    Breckenridge, CO (FHA|USDA|VA) 1 $615,000 $615,000 $9,242 6.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $505,000 $505,000 $15,562 5.25%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $255,000 $255,000 $5,868 5.00%
    Durango, CO (FHA|USDA|VA) 2 $150,000 $75,000 $0 7.37%
    Premier Members Credit Union's top markets include Denver, Boulder, Greeley, Fort Collins, and Colorado Springs among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PREMIER MEMBERS CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SunWest Credit Union
    Similarity Rank: 22
    PREMIER MORTGAGE SERVICES, INC.
    Similarity Rank: 100
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    Shea Mortgage Inc.
    Similarity Rank: 589
    HOME MORTGAGE ALLIANCE, LLC
    Similarity Rank: 942
    ON TAP
    Similarity Rank: 1140
    WESTERRA CREDIT UNION
    Similarity Rank: 1275
    CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION
    Similarity Rank: 1900
    IDEAL HOME LOANS LLC
    Similarity Rank: 2093
    Raymond James Bank
    Similarity Rank: 2124

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,027 $127,605,000 $124,250 n/a 7.97%
    Conventional 167 $81,855,000 $490,150 $7,329 5.77%
    FHA 1 $505,000 $505,000 $15,562 5.25%

    For 2023, Premier Members Credit Union's most frequently originated type of loan was HELOC, with 1,027 originations. Their 2nd most popular type was Conventional, with 167 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 484 $61,260,000 $126,570 $0 7.78%
    Other 454 $52,490,000 $115,617 $0 8.25%
    Home Purchase 184 $73,880,000 $401,522 $7,823 6.30%
    Refi 43 $10,615,000 $246,860 $6,596 6.80%
    Cash Out Refi 30 $11,720,000 $390,667 $5,931 6.32%

    For 2023, Premier Members Credit Union's most frequently cited loan purpose was Home Improvement, with 484 originations. The 2nd most popular reason was Other, with 454 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 963 $161,865,000 $168,084 $7,184 7.68%
    Other 193 $27,375,000 $141,839 $0 8.03%
    15 Year 36 $18,670,000 $518,611 $8,146 5.12%
    1 Year 2 $1,820,000 $910,000 $0 9.25%
    20 Year 1 $235,000 $235,000 $4,645 4.50%

    For 2023, Premier Members Credit Union's most frequently cited loan duration was 30 Year, with 963 originations. The 2nd most popular length was Other, with 193 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 72 $44,740,000 $621,389
    $4k-5k 25 $9,145,000 $365,800
    $3k-4k 24 $6,500,000 $270,833
    $2k-3k 13 $2,295,000 $176,538
    $1k-2k 8 $3,330,000 $416,250
    $<1k 2 $750,000 $375,000

    Premier Members Credit Union's average total fees were $7,184, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 72 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 516 $59,000,000 $114,341
    6-7% 354 $58,670,000 $165,734
    7-8% 211 $33,715,000 $159,787
    5-6% 78 $42,130,000 $540,128
    4-5% 33 $15,355,000 $465,303
    3-4% 3 $1,095,000 $365,000

    During 2023, Premier Members Credit Union's average interest rate for loans was 7.68%, while their most frequently originated rate bucket for loans was Over 8%, with 516 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 668 $47,600,000 $71,257 $3,416 8.08%
    $200k-400k 205 $54,745,000 $267,049 $5,942 7.12%
    $100k-200k 200 $30,390,000 $151,950 $4,034 7.73%
    $400k-600k 78 $37,650,000 $482,692 $7,942 6.42%
    $600k-1MM 36 $26,560,000 $737,778 $10,043 5.48%
    $1MM+ 8 $13,020,000 $1,627,500 $13,032 6.45%

    2023 saw Premier Members Credit Union place emphasis on $100,000 or less loans with 668 originations, totaling $47,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 339 $67,215,000 $198,274 $7,986 7.75%
    $100k-150k 294 $48,100,000 $163,605 $7,538 7.61%
    $75k-100k 194 $24,460,000 $126,082 $5,853 7.76%
    $50k-75k 158 $16,610,000 $105,127 $5,584 7.67%
    $250k+ 140 $44,350,000 $316,786 $10,467 7.34%
    $50k or less 59 $5,055,000 $85,678 $4,113 7.76%

    Premier Members Credit Union lent most frequently to those with incomes in the $150k-250k range, with 339 originations. The second most popular income band? $100k-150k, with 294 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 214 $33,020,000 $154,299 $7,056 7.60%
    30-36% 210 $40,300,000 $191,905 $7,896 7.49%
    50-60% 167 $21,555,000 $129,072 $5,398 8.00%
    <20% 103 $17,125,000 $166,262 $9,459 7.44%
    42% 49 $10,775,000 $219,898 $7,078 7.55%
    >60% 46 $8,100,000 $176,087 $0 8.05%
    44% 42 $10,990,000 $261,667 $5,996 7.37%
    39% 40 $5,970,000 $149,250 $7,686 7.76%
    38% 35 $5,095,000 $145,571 $5,339 7.66%
    41% 34 $7,400,000 $217,647 $7,082 7.75%
    36% 31 $7,835,000 $252,742 $10,750 7.38%
    46% 31 $4,255,000 $137,258 $6,510 8.26%
    48% 30 $5,680,000 $189,333 $8,690 7.73%
    47% 29 $4,395,000 $151,552 $7,735 8.07%
    40% 28 $6,000,000 $214,286 $7,263 7.26%
    45% 27 $4,795,000 $177,593 $9,485 7.79%
    37% 27 $5,015,000 $185,741 $5,813 7.73%
    49% 24 $3,350,000 $139,583 $6,002 7.93%
    43% 23 $5,055,000 $219,783 $6,975 6.86%

    Premier Members Credit Union lent most frequently to those with DTI ratios of 20-30%, with 214 originations. The next most common DTI ratio? 30-36%, with 210 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,040 $177,180,000 $170,365 $7,615 7.65%
    Not provided 76 $16,970,000 $223,289 $6,259 7.49%
    Asian 34 $7,970,000 $234,412 $6,312 7.54%
    Not applicable 5 $3,255,000 $651,000 $0 8.15%
    Black 17 $2,355,000 $138,529 $8,481 8.56%
    American Indian 18 $1,670,000 $92,778 $8,437 8.38%
    Asian Indian 2 $290,000 $145,000 $0 7.12%
    Other Asian 2 $180,000 $90,000 $0 6.49%
    Other Pacific Islander 1 $95,000 $95,000 $0 6.49%

    Approval Rates

    Total approvals of all applications
    88.04%

    Premier Members Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.76%

    Premier Members Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,195 $209,965,000 $175,703

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,195 $209,965,000 $175,703

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 285 $55,405,000 $194,404 $4,148 7.78%
    40-60% 62 $21,890,000 $353,065 $6,333 6.84%
    60-80% 70 $35,800,000 $511,429 $7,631 5.99%
    80-100% 67 $37,515,000 $559,925 $8,416 5.73%
    Under 20% 711 $59,355,000 $83,481 $3,586 8.03%