Credit Union Of The Rockies Mortgage Rates, Fees & Info
Golden, COLEI: 549300Q4S6BX5BFNR019
Tax ID: 84-0402825
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Mortgage Data
Review & Overview
Credit Union Of The Rockies is a smaller credit union specializing in Other and Home Improvement loans. Credit Union Of The Rockies has a high proportion of conventional loans. Their top two markets are Denver and Breckenridge .Credit Union Of The Rockies 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.77% | 11/17/24 |
| 15 Year Conventional Purchase | 5.69% | 11/17/24 |
| 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. | ||
Credit Union Of The Rockies Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
17Origination Dollar Volume (All Markets)
$895,000Top 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) | 9 | $485,000 | $53,889 | $14 | 8.76% |
| Outside of Metro Areas | 6 | $300,000 | $50,000 | $283 | 7.70% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 7.37% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $895,000 | $52,647 | $114 | 8.22% |
For 2023, Credit Union Of The Rockies's most frequently originated type of loan was Conventional, with 17 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 9 | $505,000 | $56,111 | $22 | 8.56% |
| Home Improvement | 5 | $235,000 | $47,000 | $406 | 7.79% |
| Refi | 3 | $155,000 | $51,667 | $0 | 7.91% |
For 2023, Credit Union Of The Rockies's most frequently cited loan purpose was Other, with 9 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
For 2023, Credit Union Of The Rockies's most frequently cited loan duration was 10 Year, with 6 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 16 | $840,000 | $52,500 |
Credit Union Of The Rockies's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 11 | $595,000 | $54,091 |
| 7-8% | 5 | $265,000 | $53,000 |
| 5-6% | 1 | $35,000 | $35,000 |
During 2023, Credit Union Of The Rockies's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 11 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 16 | $760,000 | $47,500 | $113 | 8.05% |
| $100k-200k | 1 | $135,000 | $135,000 | $125 | 10.99% |
2023 saw Credit Union Of The Rockies place emphasis on $100,000 or less loans with 16 originations, totaling $760,000 in origination value.
Applicant Income
Credit Union Of The Rockies lent most frequently to those with incomes in the $150k-250k range, with 5 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
Credit Union Of The Rockies lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 40%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $805,000 | $53,667 | $130 | 8.20% |
| Not provided | 1 | $65,000 | $65,000 | $0 | 8.49% |
| Asian | 1 | $25,000 | $25,000 | $0 | 8.24% |
Approval Rates
Total approvals of all applications70.59%
Credit Union Of The Rockies has a below average approval rate.
Pick Rate
Approvals leading to origination70.59%
Credit Union Of The Rockies has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 17 | $895,000 | $52,647 |