Minnequa Works Credit Union Mortgage Rates, Fees & Info

Pueblo, CO

LEI: 549300T5KC70WN8M2956

Tax ID: 84-0398950

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Minnequa Works Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Minnequa Works Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Pueblo, Cañon City, and Colorado Springs among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Minnequa Works Credit Union 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.

    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
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Minnequa Works Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    88

    Origination Dollar Volume (All Markets)

    $7,960,000

    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
    PUEBLO, CO (FHA|USDA|VA) 84 $7,470,000 $88,929 $0 0.00%
    Cañon City, CO (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Outside of Metro Areas 2 $160,000 $80,000 $0 0.00%
    Minnequa Works Credit Union's top markets include Pueblo, Cañon City, and Colorado Springs among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $7,960,000 $90,455 $0 0.00%

    For 2019, Minnequa Works Credit Union's most frequently originated type of loan was Conventional, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 57 $5,295,000 $92,895 $0 0.00%
    Refi 17 $1,635,000 $96,176 $0 0.00%
    Home Improvement 10 $570,000 $57,000 $0 0.00%
    Home Purchase 2 $360,000 $180,000 $0 0.00%
    Other 2 $100,000 $50,000 $0 0.00%

    For 2019, Minnequa Works Credit Union's most frequently cited loan purpose was Cash Out Refi, with 57 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 88 $7,960,000 $90,455 $0 0.00%

    For 2019, Minnequa Works Credit Union's most frequently cited loan duration was Other, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 61 $3,295,000 $54,016 $0 0.00%
    $100k-200k 20 $3,050,000 $152,500 $0 0.00%
    $200k-400k 7 $1,615,000 $230,714 $0 0.00%

    2019 saw Minnequa Works Credit Union place emphasis on $100,000 or less loans with 61 originations, totaling $3,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,845,000 $68,333 $0 0.00%
    $50k-75k 21 $1,985,000 $94,524 $0 0.00%
    $75k-100k 21 $2,245,000 $106,905 $0 0.00%
    $100k-150k 14 $1,700,000 $121,429 $0 0.00%
    $150k-250k 5 $185,000 $37,000 $0 0.00%

    Minnequa Works Credit Union lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 88 $7,960,000 $90,455 $0 0.00%

    Minnequa Works Credit Union lent most frequently to those with DTI ratios of Exempt%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 82 $7,450,000 $90,854 $0 0.00%
    Asian 2 $270,000 $135,000 $0 0.00%
    American Indian 2 $170,000 $85,000 $0 0.00%
    Black 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Minnequa Works Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.50%

    Minnequa Works Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 88 $7,960,000 $90,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 88 $7,960,000 $90,455

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MONEY SOURCE, THE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.4%
    MONEY SOURCE, THE Conventional home mortgage Closing on a mortgage 1 1.2%
    MONEY SOURCE, THE Conventional home mortgage Struggling to pay mortgage 3 3.7%
    MONEY SOURCE, THE Conventional home mortgage Trouble during payment process 18 22.0%
    MONEY SOURCE, THE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.4%
    MONEY SOURCE, THE FHA mortgage Closing on a mortgage 1 1.2%
    MONEY SOURCE, THE FHA mortgage Struggling to pay mortgage 10 12.2%
    MONEY SOURCE, THE FHA mortgage Trouble during payment process 17 20.7%
    MONEY SOURCE, THE Other type of mortgage Struggling to pay mortgage 1 1.2%
    MONEY SOURCE, THE Other type of mortgage Trouble during payment process 1 1.2%
    MONEY SOURCE, THE VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.4%
    MONEY SOURCE, THE VA mortgage Closing on a mortgage 4 4.9%
    MONEY SOURCE, THE VA mortgage Struggling to pay mortgage 7 8.5%
    MONEY SOURCE, THE VA mortgage Trouble during payment process 13 15.9%