Premier Members Credit Union Mortgage Rates, Fees & Info

Boulder, CO

LEI: 549300LG5340S24M4N89

Tax ID: 84-0500890

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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, Home Purchase, and Refi 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 Breckenridge among others. We have data for 19 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 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 10/29/24
    30 Year Conventional Purchase 6.32% 10/29/24
    30 Year Conventional Refi 6.36% 10/29/24
    30 Year Cash-out Refi 6.55% 10/29/24
    30 Year FHA Purchase 7.14% 10/29/24
    15 Year Conventional Purchase 5.73% 10/29/24
    15 Year Conventional Refi 5.80% 10/29/24
    15 Year Cash-out Refi 5.80% 10/29/24
    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

    1,771

    Origination Dollar Volume (All Markets)

    $318,625,000

    Awards

    PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans silver PREMIER MEMBERS CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) awards

    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) 906 $161,190,000 $177,914 $6,407 4.93%
    BOULDER, CO (FHA|USDA|VA) 387 $79,565,000 $205,594 $6,493 4.61%
    GREELEY, CO (FHA|USDA|VA) 239 $37,165,000 $155,502 $6,503 5.03%
    FORT COLLINS, CO (FHA|USDA|VA) 132 $20,530,000 $155,530 $5,786 4.80%
    Breckenridge, CO (FHA|USDA|VA) 9 $4,365,000 $485,000 $8,009 4.32%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 29 $4,135,000 $142,586 $4,446 4.91%
    Outside of Metro Areas 20 $4,000,000 $200,000 $4,255 4.66%
    PUEBLO, CO (FHA|USDA|VA) 22 $2,700,000 $122,727 $3,747 5.57%
    Edwards, CO (FHA|USDA|VA) 8 $2,050,000 $256,250 $3,294 4.97%
    Steamboat Springs, CO (FHA|USDA|VA) 2 $620,000 $310,000 $0 5.13%
    Glenwood Springs, CO (FHA|USDA|VA) 2 $440,000 $220,000 $0 5.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $400,000 $200,000 $3,908 5.25%
    GRAND JUNCTION, CO (FHA|USDA|VA) 5 $355,000 $71,000 $0 5.50%
    Cañon City, CO (FHA|USDA|VA) 2 $350,000 $175,000 $7,139 4.69%
    Durango, CO (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.75%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $225,000 $225,000 $7,149 5.63%
    Montrose, CO (FHA|USDA|VA) 2 $120,000 $60,000 $0 5.25%
    Scottsbluff, NE (FHA|USDA|VA) 1 $105,000 $105,000 $3,779 3.25%
    LAS CRUCES, NM (FHA|USDA|VA) 1 $55,000 $55,000 $2,561 5.38%
    Premier Members Credit Union's top markets include Denver, Boulder, Greeley, Fort Collins, and Breckenridge among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • New Mexico (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: 48
    PREMIER MORTGAGE SERVICES, INC.
    Similarity Rank: 258
    Red Rocks Credit Union
    Similarity Rank: 384
    Credit Union of Denver
    Similarity Rank: 450
    DENVER COMMUNITY
    Similarity Rank: 651
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1020
    ON TAP
    Similarity Rank: 1056
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1624
    Midwest Mortgage Associates Corporation
    Similarity Rank: 1705
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,513 $202,965,000 $134,147 n/a 4.97%
    Conventional 257 $115,145,000 $448,035 $6,140 4.23%
    FHA 1 $515,000 $515,000 $13,984 6.75%

    For 2022, Premier Members Credit Union's most frequently originated type of loan was HELOC, with 1,513 originations. Their 2nd most popular type was Conventional, with 257 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 846 $110,620,000 $130,757 $9,953 4.84%
    Other 475 $58,945,000 $124,095 $0 5.27%
    Home Purchase 231 $78,675,000 $340,584 $6,980 4.67%
    Refi 212 $68,290,000 $322,123 $5,539 4.29%
    Cash Out Refi 7 $2,095,000 $299,286 $5,262 4.54%

    For 2022, Premier Members Credit Union's most frequently cited loan purpose was Home Improvement, with 846 originations. The 2nd most popular reason was Other, with 475 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,515 $203,375,000 $134,241 $3,660 4.97%
    30 Year 157 $67,605,000 $430,605 $5,670 4.34%
    15 Year 80 $39,460,000 $493,250 $7,558 4.03%
    20 Year 11 $2,565,000 $233,182 $4,068 3.91%
    10 Year 6 $3,690,000 $615,000 $4,255 3.52%
    1 Year 2 $1,930,000 $965,000 $9,953 8.88%

    For 2022, Premier Members Credit Union's most frequently cited loan duration was Other, with 1,515 originations. The 2nd most popular length was 30 Year, with 157 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 79 $46,895,000 $593,608
    $<1k 67 $32,805,000 $489,627
    $1k-2k 28 $8,370,000 $298,929
    $2k-3k 27 $6,575,000 $243,519
    $3k-4k 27 $8,705,000 $322,407
    $4k-5k 25 $9,315,000 $372,600

    Premier Members Credit Union's average total fees were $5,670, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 79 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 798 $145,850,000 $182,769
    5-6% 305 $51,815,000 $169,885
    4-5% 279 $65,215,000 $233,746
    6-7% 235 $29,795,000 $126,787
    7-8% 65 $5,845,000 $89,923
    Over 8% 53 $6,145,000 $115,943
    2.5-3% 31 $11,825,000 $381,452
    <2.5% 5 $2,135,000 $427,000

    During 2022, Premier Members Credit Union's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 3-4%, with 798 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 902 $64,990,000 $72,051 $2,943 5.14%
    $200k-400k 351 $93,895,000 $267,507 $4,988 4.49%
    $100k-200k 325 $47,645,000 $146,600 $3,540 4.78%
    $400k-600k 149 $71,465,000 $479,631 $7,047 4.49%
    $600k-1MM 32 $23,410,000 $731,563 $8,452 4.09%
    $1MM+ 12 $17,220,000 $1,435,000 $11,682 4.38%

    2022 saw Premier Members Credit Union place emphasis on $100,000 or less loans with 902 originations, totaling $64,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 494 $82,810,000 $167,632 $6,346 5.02%
    $150k-250k 486 $97,320,000 $200,247 $6,718 4.74%
    $75k-100k 272 $37,270,000 $137,022 $4,806 4.96%
    $50k-75k 219 $25,395,000 $115,959 $5,484 4.95%
    $250k+ 213 $64,135,000 $301,103 $8,158 4.73%
    $50k or less 76 $6,480,000 $85,263 $4,043 4.60%

    Premier Members Credit Union lent most frequently to those with incomes in the $100k-150k range, with 494 originations. The second most popular income band? $150k-250k, with 486 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 362 $62,010,000 $171,298 $5,380 4.62%
    30-36% 305 $51,975,000 $170,410 $6,427 4.73%
    50-60% 250 $34,520,000 $138,080 $2,025 5.11%
    <20% 131 $26,745,000 $204,160 $4,840 4.48%
    41% 60 $11,250,000 $187,500 $6,633 5.13%
    37% 58 $9,740,000 $167,931 $7,209 5.01%
    >60% 57 $12,195,000 $213,947 $9,953 5.11%
    40% 57 $12,175,000 $213,596 $6,272 5.07%
    42% 57 $13,565,000 $237,982 $6,344 4.72%
    43% 52 $12,490,000 $240,192 $5,410 4.94%
    44% 52 $9,800,000 $188,462 $7,640 5.09%
    48% 47 $7,235,000 $153,936 $6,867 5.17%
    45% 44 $8,960,000 $203,636 $7,210 4.76%
    36% 44 $9,200,000 $209,091 $5,068 5.10%
    38% 42 $10,530,000 $250,714 $8,022 5.03%
    49% 39 $5,875,000 $150,641 $9,016 5.33%
    39% 38 $7,770,000 $204,474 $7,293 4.74%
    46% 38 $7,520,000 $197,895 $4,976 4.89%
    47% 34 $4,430,000 $130,294 $7,617 5.46%

    Premier Members Credit Union lent most frequently to those with DTI ratios of 20-30%, with 362 originations. The next most common DTI ratio? 30-36%, with 305 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,592 $283,200,000 $177,889 $6,303 4.85%
    Not provided 55 $15,565,000 $283,000 $6,334 4.71%
    Asian 54 $11,130,000 $206,111 $5,120 5.14%
    Black 36 $4,580,000 $127,222 $3,077 5.32%
    American Indian 24 $3,080,000 $128,333 $4,375 4.95%
    Native Hawaiian or Islander 5 $435,000 $87,000 $0 5.55%
    Asian Indian 2 $300,000 $150,000 $0 3.75%
    Not applicable 2 $240,000 $120,000 $0 4.50%
    Other Asian 1 $95,000 $95,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    87.58%

    Premier Members Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.08%

    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 1,771 $318,625,000 $179,912

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,771 $318,625,000 $179,912

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 479 $97,915,000 $204,415 $3,718 4.71%
    40-60% 110 $35,190,000 $319,909 $5,374 4.30%
    60-80% 120 $60,980,000 $508,167 $7,065 4.30%
    80-100% 72 $39,360,000 $546,667 $6,715 4.53%
    Under 20% 990 $85,180,000 $86,040 $2,925 5.09%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    PRIMARY RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 1 50.0%
    PRIMARY RESIDENTIAL MORTGAGE VA mortgage Trouble during payment process 1 50.0%