Cobalt Credit Union Mortgage Rates, Fees & Info

Papillion, NE

LEI: 549300XUFWU3F35PWM42

Tax ID: 47-0376486

5 stars - Updated: 12/4/24 - out of 5 stars, based on 22 reviews

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

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Mortgage Data

Review & Overview

Cobalt Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Cobalt Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Lincoln, Fremont, Des Moines, and Beatrice among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cobalt 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. Cobalt Credit Union is typically a low 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.34% 12/4/24
30 Year Conventional Purchase 6.25% 12/4/24
30 Year Conventional Refi 6.45% 12/4/24
30 Year Cash-out Refi 6.50% 12/4/24
30 Year FHA Purchase 6.27% 12/4/24
30 Year VA Purchase 5.56% 12/4/24
30 Year VA Refi 6.27% 12/4/24
15 Year Conventional Purchase 5.68% 12/4/24
15 Year Conventional Refi 6.10% 12/4/24
15 Year Cash-out Refi 6.10% 12/4/24
15 Year FHA Purchase 5.68% 12/4/24
15 Year VA Refi 5.73% 12/4/24
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.

Cobalt Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Cobalt 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

504

Origination Dollar Volume (All Markets)

$84,740,000
Show all (8) awards

Relative Rate

Cobalt Credit Union's average 30 year fixed mortgage rate was 6.22%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.26%.

Relative Fees (Closing Costs)

Cobalt Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,170.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 461 $80,075,000 $173,698 $2,271 6.83%
LINCOLN, NE (FHA|USDA|VA) 20 $1,980,000 $99,000 $971 7.21%
Outside of Metro Areas 12 $1,210,000 $100,833 $2,079 6.76%
Fremont, NE (FHA|USDA|VA) 9 $1,065,000 $118,333 $1,762 6.68%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $325,000 $325,000 $4,236 6.63%
Beatrice, NE (FHA|USDA|VA) 1 $85,000 $85,000 $2,283 5.63%
Cobalt Credit Union's top markets include Omaha, Lincoln, Fremont, Des Moines, and Beatrice among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Cobalt Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METRO CU
    Similarity Rank: 56
    South Metro Federal Credit Union
    Similarity Rank: 75
    Cobalt Credit Union
    Similarity Rank: 192
    FOUR POINTS
    Similarity Rank: 240
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 243
    First State Bank
    Similarity Rank: 396
    Exchange Bank
    Similarity Rank: 510
    Central National Bank
    Similarity Rank: 550
    Five Points Bank
    Similarity Rank: 702
    CORNHUSKER BANK
    Similarity Rank: 765

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 266 $24,100,000 $90,602 n/a 6.86%
    Conventional 225 $56,045,000 $249,089 $2,117 6.88%
    VA 13 $4,595,000 $353,462 $4,382 5.48%

    For 2023, Cobalt Credit Union's most frequently originated type of loan was HELOC, with 266 originations. Their 2nd most popular type was Conventional, with 225 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 363 $31,185,000 $85,909 $885 7.10%
    Home Purchase 125 $32,455,000 $259,640 $3,049 6.19%
    Refi 16 $21,100,000 $1,318,750 $4,721 6.04%

    For 2023, Cobalt Credit Union's most frequently cited loan purpose was Cash Out Refi, with 363 originations. The 2nd most popular reason was Home Purchase, with 125 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 268 $24,540,000 $91,567 $2,601 6.86%
    30 Year 138 $37,480,000 $271,594 $3,170 6.22%
    15 Year 38 $3,700,000 $97,368 $1,302 8.16%
    5 Year 31 $16,605,000 $535,645 $470 6.84%
    Other 28 $1,740,000 $62,143 $639 7.90%
    10 Year 1 $675,000 $675,000 $0 7.35%

    For 2023, Cobalt Credit Union's most frequently cited loan duration was 20 Year, with 268 originations. The 2nd most popular length was 30 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 122 $12,750,000 $104,508
    $1k-2k 90 $21,130,000 $234,778
    $3k-4k 10 $4,450,000 $445,000
    $2k-3k 6 $2,470,000 $411,667
    $4k-5k 3 $2,385,000 $795,000
    $5k+ 2 $1,280,000 $640,000

    Cobalt Credit Union's average total fees were $3,170, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 339 $42,105,000 $124,204
    5-6% 61 $29,225,000 $479,098
    7-8% 58 $7,180,000 $123,793
    Over 8% 36 $2,310,000 $64,167
    4-5% 9 $3,845,000 $427,222
    3-4% 1 $75,000 $75,000

    During 2023, Cobalt Credit Union's average interest rate for loans was 6.22%, while their most frequently originated rate bucket for loans was 6-7%, with 339 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 273 $15,125,000 $55,403 $738 7.14%
    $100k-200k 115 $16,555,000 $143,957 $2,555 6.77%
    $200k-400k 88 $23,300,000 $264,773 $3,169 6.29%
    $400k-600k 19 $9,155,000 $481,842 $3,962 5.97%
    $600k-1MM 7 $4,895,000 $699,286 $5,935 5.83%
    $1MM+ 2 $15,710,000 $7,855,000 $8,652 5.69%

    2023 saw Cobalt Credit Union place emphasis on $100,000 or less loans with 273 originations, totaling $15,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 140 $19,250,000 $137,500 $2,104 6.86%
    $75k-100k 99 $10,075,000 $101,768 $2,007 6.92%
    $50k-75k 96 $10,350,000 $107,813 $2,157 6.82%
    $150k-250k 94 $17,490,000 $186,064 $2,411 6.73%
    $50k or less 41 $3,255,000 $79,390 $1,812 7.02%
    $250k+ 30 $8,570,000 $285,667 $3,815 6.58%

    Cobalt Credit Union lent most frequently to those with incomes in the $100k-150k range, with 140 originations. The second most popular income band? $75k-100k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 84 $13,670,000 $162,738 $2,581 6.57%
    30-36% 75 $8,815,000 $117,533 $2,139 6.76%
    49% 46 $4,380,000 $95,217 $1,299 7.26%
    48% 32 $3,360,000 $105,000 $1,783 7.05%
    <20% 27 $5,055,000 $187,222 $3,373 6.54%
    47% 26 $3,200,000 $123,077 $1,670 7.25%
    45% 24 $3,200,000 $133,333 $3,044 6.93%
    41% 23 $3,065,000 $133,261 $2,223 6.75%
    44% 22 $2,460,000 $111,818 $1,464 7.01%
    38% 22 $3,320,000 $150,909 $2,331 6.66%
    43% 20 $2,280,000 $114,000 $2,226 6.81%
    37% 18 $2,770,000 $153,889 $1,733 7.23%
    40% 18 $1,980,000 $110,000 $1,825 6.79%
    46% 17 $2,525,000 $148,529 $2,015 6.96%
    39% 13 $1,945,000 $149,615 $2,224 6.47%
    42% 12 $1,900,000 $158,333 $2,001 6.74%
    36% 12 $2,810,000 $234,167 $4,959 6.55%
    50-60% 6 $1,560,000 $260,000 $3,361 6.96%
    >60% 2 $270,000 $135,000 $0 7.00%

    Cobalt Credit Union lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 445 $59,625,000 $133,989 $2,219 6.86%
    Not applicable 4 $15,750,000 $3,937,500 $0 7.02%
    Not provided 18 $3,870,000 $215,000 $3,005 5.96%
    Asian 18 $3,250,000 $180,556 $2,124 6.76%
    Black 17 $2,075,000 $122,059 $1,954 7.11%
    Native Hawaiian or Islander 1 $105,000 $105,000 $0 7.00%
    American Indian 1 $65,000 $65,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    81.35%

    Cobalt Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.53%

    Cobalt Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $35,000 $35,000
    1002.5 1 $95,000 $95,000
    1040.9 1 $145,000 $145,000
    1053.5 1 $255,000 $255,000
    1057.9 1 $205,000 $205,000
    1061.7 1 $105,000 $105,000
    1067.9 1 $255,000 $255,000
    1068.5 1 $85,000 $85,000
    1070.9 1 $205,000 $205,000
    1103.5 1 $255,000 $255,000
    1113.75 1 $255,000 $255,000
    1170.9 1 $255,000 $255,000
    1182.9 1 $205,000 $205,000
    1232.9 1 $205,000 $205,000
    1296.9 1 $125,000 $125,000
    1317.9 1 $165,000 $165,000
    1332.5 1 $145,000 $145,000
    1395.9 1 $155,000 $155,000
    1397.5 1 $255,000 $255,000
    1578.5 1 $255,000 $255,000
    1739.9 1 $255,000 $255,000
    2110.9 1 $125,000 $125,000
    247.4 6 $370,000 $61,667
    266.7 1 $85,000 $85,000
    303.4 9 $415,000 $46,111
    307.5 2 $140,000 $70,000
    313.4 1 $25,000 $25,000
    327.4 3 $135,000 $45,000
    330.0 7 $425,000 $60,714
    332.25 4 $270,000 $67,500
    3367.9 1 $255,000 $255,000
    355.0 1 $35,000 $35,000
    361.0 1 $75,000 $75,000
    380.0 6 $290,000 $48,333
    383.4 2 $90,000 $45,000
    386.0 9 $555,000 $61,667
    410.0 3 $115,000 $38,333
    430.0 12 $650,000 $54,167
    436.0 8 $490,000 $61,250
    436.7 1 $105,000 $105,000
    444.4 1 $55,000 $55,000
    447.4 18 $880,000 $48,889
    455.9 1 $115,000 $115,000
    461.5 2 $60,000 $30,000
    466.0 1 $45,000 $45,000
    486.0 12 $740,000 $61,667
    487.9 1 $105,000 $105,000
    490.0 1 $45,000 $45,000
    498.7 1 $105,000 $105,000
    503.4 22 $1,200,000 $54,545
    510.0 1 $75,000 $75,000
    511.9 1 $125,000 $125,000
    514.5 1 $105,000 $105,000
    516.0 1 $55,000 $55,000
    525.6 1 $125,000 $125,000
    526.3 1 $85,000 $85,000
    527.4 6 $270,000 $45,000
    534.5 1 $85,000 $85,000
    539.9 1 $75,000 $75,000
    540.0 1 $145,000 $145,000
    552.6 1 $15,000 $15,000
    559.4 1 $75,000 $75,000
    559.9 1 $65,000 $65,000
    560.4 1 $25,000 $25,000
    565.9 1 $145,000 $145,000
    566.0 2 $70,000 $35,000
    567.0 1 $65,000 $65,000
    583.4 4 $180,000 $45,000
    584.5 1 $85,000 $85,000
    589.5 1 $55,000 $55,000
    595.9 1 $85,000 $85,000
    596.5 1 $95,000 $95,000
    604.9 1 $85,000 $85,000
    611.9 1 $255,000 $255,000
    612.3 1 $135,000 $135,000
    614.9 1 $105,000 $105,000
    619.9 1 $175,000 $175,000
    631.9 2 $200,000 $100,000
    633.1 1 $105,000 $105,000
    636.75 1 $205,000 $205,000
    655.9 1 $235,000 $235,000
    656.5 1 $135,000 $135,000
    657.7 1 $135,000 $135,000
    661.9 1 $125,000 $125,000
    664.75 1 $95,000 $95,000
    667.9 1 $255,000 $255,000
    669.9 1 $95,000 $95,000
    670.5 3 $445,000 $148,333
    670.9 1 $105,000 $105,000
    672.1 1 $45,000 $45,000
    674.25 1 $105,000 $105,000
    674.5 2 $310,000 $155,000
    676.3 2 $270,000 $135,000
    687.9 2 $170,000 $85,000
    696.75 1 $255,000 $255,000
    697.9 1 $155,000 $155,000
    699.75 1 $105,000 $105,000
    702.3 1 $115,000 $115,000
    703.5 1 $55,000 $55,000
    703.9 1 $165,000 $165,000
    704.5 1 $175,000 $175,000
    706.5 1 $135,000 $135,000
    711.9 1 $125,000 $125,000
    714.15 1 $75,000 $75,000
    717.9 1 $125,000 $125,000
    720.9 1 $125,000 $125,000
    724.9 1 $75,000 $75,000
    728.1 1 $145,000 $145,000
    728.3 1 $75,000 $75,000
    728.5 1 $75,000 $75,000
    738.9 1 $155,000 $155,000
    750.5 1 $255,000 $255,000
    775.5 1 $255,000 $255,000
    776.7 1 $175,000 $175,000
    777.5 1 $145,000 $145,000
    780.9 1 $75,000 $75,000
    786.0 1 $55,000 $55,000
    791.1 1 $225,000 $225,000
    792.9 1 $165,000 $165,000
    800.7 1 $195,000 $195,000
    804.7 1 $115,000 $115,000
    811.0 2 $80,000 $40,000
    811.9 2 $510,000 $255,000
    814.9 1 $105,000 $105,000
    820.5 1 $105,000 $105,000
    821.05 1 $175,000 $175,000
    825.5 1 $145,000 $145,000
    830.0 1 $45,000 $45,000
    833.1 1 $205,000 $205,000
    843.5 1 $115,000 $115,000
    863.0 1 $75,000 $75,000
    866.9 1 $235,000 $235,000
    870.9 1 $105,000 $105,000
    872.4 1 $35,000 $35,000
    888.5 1 $55,000 $55,000
    897.4 1 $55,000 $55,000
    915.5 1 $185,000 $185,000
    960.3 1 $85,000 $85,000
    970.9 1 $105,000 $105,000
    978.5 1 $75,000 $75,000
    NA 238 $60,640,000 $254,790

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    504 $84,740,000 $168,135

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 136 $14,410,000 $105,956 $919 7.11%
    40-60% 50 $23,150,000 $463,000 $2,866 6.74%
    60-80% 63 $16,565,000 $262,937 $3,179 6.38%
    80-100% 81 $21,925,000 $270,679 $3,162 6.19%
    Over 100% 1 $225,000 $225,000 $7,543 6.25%
    Under 20% 173 $8,465,000 $48,931 $481 7.12%