Minnequa Works Credit Union Mortgage Rates, Fees & Info
Pueblo, COLEI: 549300T5KC70WN8M2956
Tax ID: 84-0398950
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Minnequa Works Credit Union is a smaller credit union specializing in Cash Out Refi loans. Minnequa Works Credit Union has a high proportion of conventional loans. Minnequa Works Credit Union has an average proportion of conventional loans. Their top two markets are Pueblo and Edwards .Minnequa Works Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 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. | ||
Minnequa Works Credit Union Mortgage Calculator
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Originations
50Origination Dollar Volume (All Markets)
$5,700,000Top 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 |
|---|---|---|---|---|---|
| PUEBLO, CO (FHA|USDA|VA) | 48 | $5,210,000 | $108,542 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Edwards, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $4,760,000 | $125,263 | $0 | 0.00% |
| Conventional | 12 | $940,000 | $78,333 | $0 | 0.00% |
For 2023, Minnequa Works Credit Union's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was Conventional, with 12 originations.
Loan Reason
For 2023, Minnequa Works Credit Union's most frequently cited loan purpose was Cash Out Refi, with 34 originations. The 2nd most popular reason was Other, with 7 originations.
Loan Duration/Length
For 2023, Minnequa Works Credit Union's most frequently cited loan duration was 10 Year, with 14 originations. The 2nd most popular length was 15 Year, with 14 originations.
Loan Sizing
2023 saw Minnequa Works Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,175,000 in origination value.
Applicant Income
Minnequa Works Credit Union lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $150k-250k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $5,700,000 | $114,000 | $0 | 0.00% |
Minnequa Works Credit Union lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 45 | $5,385,000 | $119,667 | $0 | 0.00% |
| Not provided | 5 | $315,000 | $63,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.73%
Minnequa Works Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination98.00%
Minnequa Works Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $5,700,000 | $114,000 |