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 Home Improvement and Other loans. Sooper Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Denver, Boulder, Grand Junction, Greeley, and Colorado Springs among others. We have data for 17 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. Sooper 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.
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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
1,421Origination Dollar Volume (All Markets)
$231,775,000Top 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) | 1,036 | $173,250,000 | $167,230 | $5,680 | 5.63% |
| BOULDER, CO (FHA|USDA|VA) | 59 | $13,765,000 | $233,305 | $0 | 5.65% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 136 | $13,130,000 | $96,544 | $3,148 | 5.47% |
| GREELEY, CO (FHA|USDA|VA) | 65 | $9,475,000 | $145,769 | $0 | 5.79% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 40 | $5,960,000 | $149,000 | $0 | 5.72% |
| FORT COLLINS, CO (FHA|USDA|VA) | 35 | $5,775,000 | $165,000 | $0 | 5.63% |
| Breckenridge, CO (FHA|USDA|VA) | 11 | $3,845,000 | $349,545 | $0 | 5.02% |
| Outside of Metro Areas | 16 | $3,150,000 | $196,875 | $9,741 | 4.98% |
| Edwards, CO (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $0 | 6.86% |
| Steamboat Springs, CO (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 5.50% |
| Glenwood Springs, CO (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $0 | 6.14% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 6.94% |
| Durango, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.49% |
| Montrose, CO (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 5.72% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 6.22% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.94% |
| Craig, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.44% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 1,391 | $224,515,000 | $161,405 | n/a | 5.65% |
| Conventional | 29 | $7,105,000 | $245,000 | $5,613 | 4.53% |
| VA | 1 | $155,000 | $155,000 | $0 | 6.49% |
For 2022, Sooper Credit Union's most frequently originated type of loan was HELOC, with 1,391 originations. Their 2nd most popular type was Conventional, with 29 originations.
Loan Reason
For 2022, Sooper Credit Union's most frequently cited loan purpose was Home Improvement, with 832 originations. The 2nd most popular reason was Other, with 387 originations.
Loan Duration/Length
For 2022, Sooper Credit Union's most frequently cited loan duration was Other, with 1,352 originations. The 2nd most popular length was 15 Year, with 52 originations.
Origination Fees/Closing Costs
Sooper Credit Union's average total fees were $6,489, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 4 originations.
Interest Rates
During 2022, Sooper Credit Union's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 4-5%, with 443 originations.
Loan Sizing
2022 saw Sooper Credit Union place emphasis on $100,000 or less loans with 542 originations, totaling $34,380,000 in origination value.
Applicant Income
Sooper Credit Union lent most frequently to those with incomes in the $150k-250k range, with 401 originations. The second most popular income band? $100k-150k, with 383 originations.
Applicant Debt to Income Ratio
Sooper Credit Union lent most frequently to those with DTI ratios of 20-30%, with 207 originations. The next most common DTI ratio? 30-36%, with 205 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.13%
Sooper Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.07%
Sooper Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 577 | $91,805,000 | $159,107 |
| 1.38 | 1 | $505,000 | $505,000 |
| NA | 843 | $139,465,000 | $165,439 |