Minnequa Works Credit Union Mortgage Rates, Fees & Info
Pueblo, COLEI: 549300T5KC70WN8M2956
Tax ID: 84-0398950
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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. Their top markets by origination volume include: Pueblo, Denver, and Cañon City 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 an above 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
88Origination Dollar Volume (All Markets)
$11,790,000Top 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) | 83 | $11,125,000 | $134,036 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $290,000 | $145,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 88 | $11,790,000 | $133,977 | $0 | 0.00% |
For 2020, 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 | 83 | $11,105,000 | $133,795 | $0 | 0.00% |
| Home Purchase | 5 | $685,000 | $137,000 | $0 | 0.00% |
For 2020, Minnequa Works Credit Union's most frequently cited loan purpose was Cash Out Refi, with 83 originations. The 2nd most popular reason was Home Purchase, with 5 originations.
Loan Duration/Length
For 2020, Minnequa Works Credit Union's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 20 Year, with 27 originations.
Loan Sizing
2020 saw Minnequa Works Credit Union place emphasis on $100k-200k loans with 35 originations, totaling $4,915,000 in origination value.
Applicant Income
Minnequa Works Credit Union lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $100k-150k, with 20 originations.
Applicant Debt to Income Ratio
Minnequa Works Credit Union lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.46%
Minnequa Works Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.59%
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 | 88 | $11,790,000 | $133,977 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 87 | $11,715,000 | $134,655 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MONEY SOURCE, THE | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 2.6% |
| MONEY SOURCE, THE | Conventional home mortgage | Closing on a mortgage | 2 | 1.3% |
| MONEY SOURCE, THE | Conventional home mortgage | Incorrect information on your report | 1 | 0.6% |
| MONEY SOURCE, THE | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.6% |
| MONEY SOURCE, THE | Conventional home mortgage | Struggling to pay mortgage | 11 | 7.1% |
| MONEY SOURCE, THE | Conventional home mortgage | Trouble during payment process | 70 | 44.9% |
| MONEY SOURCE, THE | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 1.3% |
| MONEY SOURCE, THE | FHA mortgage | Closing on a mortgage | 1 | 0.6% |
| MONEY SOURCE, THE | FHA mortgage | Incorrect information on your report | 4 | 2.6% |
| MONEY SOURCE, THE | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.6% |
| MONEY SOURCE, THE | FHA mortgage | Struggling to pay mortgage | 9 | 5.8% |
| MONEY SOURCE, THE | FHA mortgage | Trouble during payment process | 20 | 12.8% |
| MONEY SOURCE, THE | Other type of mortgage | Trouble during payment process | 1 | 0.6% |
| MONEY SOURCE, THE | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 1.3% |
| MONEY SOURCE, THE | VA mortgage | Closing on a mortgage | 2 | 1.3% |
| MONEY SOURCE, THE | VA mortgage | Incorrect information on your report | 3 | 1.9% |
| MONEY SOURCE, THE | VA mortgage | Problem with a credit reporting company's investigation into an existing problem | 2 | 1.3% |
| MONEY SOURCE, THE | VA mortgage | Struggling to pay mortgage | 4 | 2.6% |
| MONEY SOURCE, THE | VA mortgage | Trouble during payment process | 16 | 10.3% |