Premier Members Credit Union Mortgage Rates, Fees & Info
Boulder, COLEI: 549300LG5340S24M4N89
Tax ID: 84-0500890
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Premier Members Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Premier Members Credit Union has a high proportion of conventional loans. Their top markets include Denver, Boulder, Greeley, Fort Collins, and Colorado Springs among others. Premier Members Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Premier Members Credit Union is typically an average fee lendor.Originations
1,753Origination Dollar Volume (All Markets)
$341,855,000Relative Rate
Premier Members Credit Union's average 30 year fixed rate mortgage of loans were
3.08%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.07%.
Relative Fees
Premier Members Credit Union's average total fees for a 30 year fixed rate
mortgage are $4,894.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 816 | $156,350,000 | $191,605 | $4,771 | 3.84% |
| BOULDER, CO (FHA|USDA|VA) | 466 | $99,040,000 | $212,532 | $4,402 | 3.48% |
| GREELEY, CO (FHA|USDA|VA) | 202 | $33,650,000 | $166,584 | $4,314 | 3.80% |
| FORT COLLINS, CO (FHA|USDA|VA) | 134 | $25,740,000 | $192,090 | $4,666 | 3.61% |
| Outside of Metro Areas | 40 | $6,910,000 | $172,750 | $4,272 | 3.85% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 21 | $5,515,000 | $262,619 | $5,961 | 3.95% |
| PUEBLO, CO (FHA|USDA|VA) | 32 | $4,420,000 | $138,125 | $3,961 | 4.03% |
| Edwards, CO (FHA|USDA|VA) | 5 | $1,665,000 | $333,000 | $11,664 | 4.13% |
| Breckenridge, CO (FHA|USDA|VA) | 7 | $1,485,000 | $212,143 | $0 | 3.89% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $4,966 | 3.21% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $4,705 | 2.79% |
| BILLINGS, MT (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $4,871 | 3.13% |
| Gillette, WY (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $6,214 | 2.83% |
| Montrose, CO (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $4,591 | 4.53% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $0 | 3.75% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $4,869 | 3.92% |
| Steamboat Springs, CO (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $10,549 | 3.19% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,929 | 3.13% |
| Taos, NM (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,209 | 2.75% |
| Durango, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,566 | 3.25% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,409 | 3.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,417 | 2.75% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
Premier Members Credit Union's top markets include Denver, Boulder, Greeley, Fort Collins, and Colorado Springs among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,753 | $341,855,000 | $195,011 | $4,585 | 3.72% |
For the 2021 period, Premier Members Credit Union's most frequently originated loan type of loans were Conventional, with 1,753 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 598 | $71,640,000 | $119,799 | $0 | 3.98% |
| Refi | 516 | $147,970,000 | $286,764 | $4,276 | 3.07% |
| Other | 380 | $42,410,000 | $111,605 | $0 | 4.22% |
| Home Purchase | 249 | $77,125,000 | $309,739 | $5,719 | 3.70% |
| Cash Out Refi | 10 | $2,710,000 | $271,000 | $4,332 | 2.83% |
For the 2021, Premier Members Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 598 originations. The 2nd most popular reason of loans were Refi, with 516 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 1,160 | $146,660,000 | $126,431 | $8,930 | 4.12% |
| 30 Year | 441 | $157,035,000 | $356,088 | $4,894 | 3.08% |
| 15 Year | 95 | $22,475,000 | $236,579 | $3,585 | 2.49% |
| 20 Year | 41 | $9,755,000 | $237,927 | $3,677 | 2.78% |
| 10 Year | 15 | $4,035,000 | $269,000 | $3,968 | 2.29% |
| 5 Year | 1 | $1,895,000 | $1,895,000 | $0 | 4.25% |
For the 2021, Premier Members Credit Union's most frequently cited loan length of loans were Other, with 1,160 originations. The 2nd most popular length of loans were 30 Year, with 441 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 210 | $63,440,000 | $302,095 |
| $3k-4k | 140 | $41,730,000 | $298,071 |
| $1k-2k | 86 | $23,390,000 | $271,977 |
| $5k+ | 81 | $50,315,000 | $621,173 |
| $2k-3k | 73 | $13,945,000 | $191,027 |
$4,894 of loans were Premier Members Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 210 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,091 | $193,585,000 | $177,438 |
| 2.5-3% | 293 | $95,335,000 | $325,375 |
| 4-5% | 159 | $20,715,000 | $130,283 |
| <2.5% | 85 | $22,295,000 | $262,294 |
| 5-6% | 68 | $5,180,000 | $76,176 |
| 6-7% | 43 | $3,745,000 | $87,093 |
| 7-8% | 13 | $955,000 | $73,462 |
| Over 8% | 1 | $45,000 | $45,000 |
During 2021, Premier Members Credit Union's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 3-4%, with 1,091 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 751 | $52,225,000 | $69,541 | $2,653 | 4.15% |
| $200k-400k | 488 | $135,900,000 | $278,484 | $4,153 | 3.34% |
| $100k-200k | 331 | $49,965,000 | $150,952 | $3,403 | 3.58% |
| $400k-600k | 137 | $65,945,000 | $481,350 | $5,464 | 3.29% |
| $600k-1MM | 40 | $29,250,000 | $731,250 | $9,046 | 3.04% |
| $1MM+ | 6 | $8,570,000 | $1,428,333 | $15,335 | 3.04% |
2021 saw Premier Members Credit Union place emphasis on $100,000 or less loans with 751 originations, totaling $52,225,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 451 | $82,315,000 | $182,517 | $4,491 | 3.72% |
| $150k-250k | 451 | $94,855,000 | $210,322 | $5,479 | 3.83% |
| $75k-100k | 293 | $50,715,000 | $173,089 | $3,965 | 3.67% |
| $50k-75k | 251 | $39,885,000 | $158,904 | $3,982 | 3.64% |
| $250k+ | 187 | $55,295,000 | $295,695 | $7,205 | 3.76% |
| $50k or less | 106 | $13,050,000 | $123,113 | $3,601 | 3.53% |
Premier Members Credit Union lent most frequently to those with incomes in the $100k-150k range, with 451 originations. The second most popular income band? $150k-250k, with 451 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 404 | $79,410,000 | $196,559 | $4,376 | 3.54% |
| 30-36% | 294 | $53,090,000 | $180,578 | $4,354 | 3.78% |
| <20% | 182 | $34,730,000 | $190,824 | $4,555 | 3.52% |
| 50-60% | 149 | $19,115,000 | $128,289 | $7,088 | 4.29% |
| 39% | 69 | $17,025,000 | $246,739 | $5,996 | 3.50% |
| 37% | 59 | $11,385,000 | $192,966 | $3,862 | 3.77% |
| 43% | 57 | $15,245,000 | $267,456 | $4,918 | 3.69% |
| 40% | 54 | $9,400,000 | $174,074 | $4,324 | 3.91% |
| 38% | 54 | $11,990,000 | $222,037 | $4,748 | 3.71% |
| 44% | 51 | $11,495,000 | $225,392 | $5,575 | 3.82% |
| 41% | 50 | $10,400,000 | $208,000 | $4,282 | 3.73% |
| 36% | 50 | $11,000,000 | $220,000 | $4,433 | 3.50% |
| 42% | 49 | $10,145,000 | $207,041 | $4,039 | 3.85% |
| 47% | 46 | $7,750,000 | $168,478 | $4,270 | 3.64% |
| 48% | 45 | $7,695,000 | $171,000 | $5,227 | 3.91% |
| 45% | 42 | $10,240,000 | $243,810 | $4,608 | 3.51% |
| 46% | 39 | $8,085,000 | $207,308 | $5,372 | 3.71% |
| >60% | 30 | $5,690,000 | $189,667 | $0 | 4.00% |
| 49% | 28 | $6,070,000 | $216,786 | $4,446 | 3.80% |
Premier Members Credit Union lent most frequently to those with DTI ratios of 20-30%, with 404 originations. The next most common DTI ratio? 30-36%, with 294 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,580 | $299,860,000 | $189,785 | $4,646 | 3.75% |
| Not provided | 97 | $24,465,000 | $252,216 | $4,278 | 3.28% |
| Asian | 43 | $8,375,000 | $194,767 | $3,582 | 3.72% |
| Black | 16 | $3,680,000 | $230,000 | $5,064 | 3.91% |
| American Indian | 11 | $2,705,000 | $245,909 | $5,875 | 3.33% |
| Not applicable | 2 | $2,100,000 | $1,050,000 | $0 | 4.50% |
| Native Hawaiian | 2 | $280,000 | $140,000 | $4,607 | 3.19% |
| Japanese | 1 | $245,000 | $245,000 | $2,104 | 2.88% |
| 1 | $145,000 | $145,000 | $2,046 | 3.00% |
Approval Rates
Total approvals of all applications85.39%
Premier Members Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination74.86%
Premier Members Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,753 | $341,855,000 | $195,011 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,753 | $341,855,000 | $195,011 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 438 | $83,740,000 | $191,187 | $3,515 | 3.73% |
| 40-60% | 233 | $66,575,000 | $285,730 | $4,046 | 3.14% |
| 60-80% | 219 | $85,715,000 | $391,393 | $5,132 | 3.10% |
| 80-100% | 106 | $44,890,000 | $423,491 | $5,637 | 3.17% |
| Under 20% | 757 | $60,935,000 | $80,495 | $2,872 | 4.15% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Premier Mortgage, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Premier Mortgage, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
