Sooper Credit Union Mortgage Rates, Fees & Info
ARVADA, COLEI: 549300RWXIW3CFTANH88
Tax ID: 84-0419976
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Mortgage Data
Review & Overview
Sooper Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Sooper Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Grand Junction, Boulder, Colorado Springs, and Fort Collins among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Sooper Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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) | 8.64% | 5/4/24 |
| 30 Year Conventional Purchase | 6.65% | 5/4/24 |
| 30 Year Conventional Refi | 6.98% | 5/4/24 |
| 30 Year Cash-out Refi | 6.61% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 6.45% | 5/4/24 |
| 15 Year Cash-out Refi | 6.45% | 5/4/24 |
| 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. | ||
Sooper Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
107Origination Dollar Volume (All Markets)
$17,935,000Top 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) | 73 | $11,215,000 | $153,630 | $0 | 0.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 16 | $2,250,000 | $140,625 | $0 | 0.00% |
| BOULDER, CO (FHA|USDA|VA) | 3 | $1,435,000 | $478,333 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $0 | 0.00% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Montrose, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Sterling, CO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 107 | $17,935,000 | $167,617 | $0 | 0.00% |
For 2019, Sooper Credit Union's most frequently originated type of loan was Conventional, with 107 originations.
Loan Reason
For 2019, Sooper Credit Union's most frequently cited loan purpose was Cash Out Refi, with 45 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 107 | $17,935,000 | $167,617 | $0 | 0.00% |
For 2019, Sooper Credit Union's most frequently cited loan duration was Other, with 107 originations.
Loan Sizing
2019 saw Sooper Credit Union place emphasis on $100k-200k loans with 42 originations, totaling $6,170,000 in origination value.
Applicant Income
Sooper Credit Union lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 107 | $17,935,000 | $167,617 | $0 | 0.00% |
Sooper Credit Union lent most frequently to those with DTI ratios of Exempt%, with 107 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.35%
Sooper Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination51.40%
Sooper 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 |
|---|---|---|---|
| Exempt | 107 | $17,935,000 | $167,617 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Sovereign Lending Group, Incorporated | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| Sovereign Lending Group, Incorporated | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| Sovereign Lending Group, Incorporated | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 60.0% |