Denver Community Mortgage Rates, Fees & Info
Denver, COLEI: 549300N6Q6IC190UPB76
Tax ID: 84-0405947
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Mortgage Data
Review & Overview
Denver Community is a smaller mortgage company specializing in Cash Out Refi and Home Improvement loans. Denver Community has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, Greeley, Fort Collins, and Glenwood Springs among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Denver Community 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. Denver Community 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.42% | 4/18/24 |
| 30 Year Cash-out Refi | 5.80% | 4/18/24 |
| 15 Year Conventional Refi | 5.68% | 4/18/24 |
| 15 Year Cash-out Refi | 5.68% | 4/18/24 |
| 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. | ||
Denver Community Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Denver Community. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
162Origination Dollar Volume (All Markets)
$14,380,000Relative Rate
Denver Community's average 30 year fixed mortgage rate was
6.9%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.42%.
Relative Fees (Closing Costs)
Denver Community's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,907.
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) | 152 | $13,130,000 | $86,382 | $1,189 | 8.11% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 6.88% |
| Outside of Metro Areas | 3 | $385,000 | $128,333 | $1,174 | 7.50% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $1,564 | 7.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $511 | 7.75% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against DENVER COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 300
Similarity Rank: 589
Similarity Rank: 942
Similarity Rank: 1140
Similarity Rank: 1275
Similarity Rank: 1296
Similarity Rank: 1792
Similarity Rank: 1804
Similarity Rank: 1900
Similarity Rank: 2093
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 119 | $8,415,000 | $70,714 | n/a | 8.29% |
| Conventional | 43 | $5,965,000 | $138,721 | $1,174 | 7.48% |
For 2023, Denver Community's most frequently originated type of loan was HELOC, with 119 originations. Their 2nd most popular type was Conventional, with 43 originations.
Loan Reason
For 2023, Denver Community's most frequently cited loan purpose was Cash Out Refi, with 103 originations. The 2nd most popular reason was Home Improvement, with 49 originations.
Loan Duration/Length
For 2023, Denver Community's most frequently cited loan duration was Other, with 111 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 1 | $305,000 | $305,000 |
Denver Community's average total fees were $2,907, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 88 | $6,130,000 | $69,659 |
| 7-8% | 42 | $3,540,000 | $84,286 |
| 6-7% | 26 | $3,900,000 | $150,000 |
| 5-6% | 6 | $810,000 | $135,000 |
During 2023, Denver Community's average interest rate for loans was 6.90%, while their most frequently originated rate bucket for loans was Over 8%, with 88 originations.
Loan Sizing
2023 saw Denver Community place emphasis on $100,000 or less loans with 111 originations, totaling $5,645,000 in origination value.
Applicant Income
Denver Community lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $150k-250k, with 38 originations.
Applicant Debt to Income Ratio
Denver Community lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.02%
Denver Community has a below average approval rate.
Pick Rate
Approvals leading to origination82.72%
Denver Community has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 162 | $14,380,000 | $88,765 |