Cobalt Credit Union Mortgage Rates, Fees & Info

Papillion, NE

LEI: 549300XUFWU3F35PWM42

Tax ID: 47-0376486

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
  • Similar Lenders
  • 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

    Cobalt Credit Union is a smaller credit union specializing in Home Purchase loans. Cobalt Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Lincoln, Fremont, and Grand Island among others. We have data for 5 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 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.

    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% 11/17/24
    30 Year Conventional Purchase 6.25% 11/17/24
    30 Year Conventional Refi 6.45% 11/17/24
    30 Year Cash-out Refi 6.50% 11/17/24
    30 Year FHA Purchase 6.27% 11/17/24
    30 Year VA Purchase 5.56% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    15 Year Conventional Purchase 5.68% 11/17/24
    15 Year Conventional Refi 6.10% 11/17/24
    15 Year Cash-out Refi 6.10% 11/17/24
    15 Year FHA Purchase 5.68% 11/17/24
    15 Year VA Refi 5.73% 11/17/24
    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

    969

    Origination Dollar Volume (All Markets)

    $131,515,000
    Show all (7) awards

    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) 899 $123,045,000 $136,869 $2,590 4.28%
    Outside of Metro Areas 31 $2,925,000 $94,355 $2,954 4.52%
    LINCOLN, NE (FHA|USDA|VA) 15 $2,905,000 $193,667 $2,736 4.71%
    Fremont, NE (FHA|USDA|VA) 23 $2,435,000 $105,870 $2,380 3.99%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $205,000 $205,000 $3,184 4.50%
    Cobalt Credit Union's top markets include Omaha, Lincoln, Fremont, and Grand Island 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.

    LIBERTY FIRST
    Similarity Rank: 153
    CHARTER WEST BANK
    Similarity Rank: 246
    Washington County Bank
    Similarity Rank: 255
    Central National Bank
    Similarity Rank: 290
    MUTUAL FIRST
    Similarity Rank: 297
    Lincoln FSB of Nebraska
    Similarity Rank: 304
    First State Bank
    Similarity Rank: 312
    CORNHUSKER BANK
    Similarity Rank: 392
    Cobalt Credit Union
    Similarity Rank: 465
    VERIDIAN CREDIT UNION
    Similarity Rank: 966

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 630 $87,860,000 $139,460 $1,887 4.55%
    HELOC 135 $7,915,000 $58,630 n/a 3.05%
    FHA 103 $14,465,000 $140,437 $4,748 4.42%
    VA 100 $21,190,000 $211,900 $4,455 4.16%
    USDA 1 $85,000 $85,000 $3,076 4.38%

    For 2018, Cobalt Credit Union's most frequently originated type of loan was Conventional, with 630 originations. Their 2nd most popular type was HELOC, with 135 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 621 $102,705,000 $165,386 $3,009 4.41%
    Other 144 $10,930,000 $75,903 $1,156 3.91%
    Home Improvement 116 $5,350,000 $46,121 $502 3.80%
    Cash Out Refi 70 $10,570,000 $151,000 $2,775 4.69%
    Refi 14 $1,630,000 $116,429 $1,883 4.05%
    NA 4 $330,000 $82,500 $0 5.63%

    For 2018, Cobalt Credit Union's most frequently cited loan purpose was Home Purchase, with 621 originations. The 2nd most popular reason was Other, with 144 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 579 $100,055,000 $172,807 $3,187 4.60%
    20 Year 154 $10,800,000 $70,130 $2,208 3.21%
    15 Year 73 $9,275,000 $127,055 $1,709 4.79%
    10 Year 69 $6,245,000 $90,507 $1,025 2.83%
    Other 68 $3,210,000 $47,206 $417 4.82%
    5 Year 22 $1,560,000 $70,909 $319 4.41%
    1 Year 2 $230,000 $115,000 $0 5.88%
    3 Year 2 $140,000 $70,000 $908 5.13%

    For 2018, Cobalt Credit Union's most frequently cited loan duration was 30 Year, with 579 originations. The 2nd most popular length was 20 Year, with 154 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 581 $78,795,000 $135,620
    $1k-2k 169 $30,725,000 $181,805
    $2k-3k 9 $1,765,000 $196,111
    $3k-4k 6 $1,450,000 $241,667
    $5k+ 3 $1,535,000 $511,667
    $4k-5k 1 $805,000 $805,000

    Cobalt Credit Union's average total fees were $3,187, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 581 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 556 $91,260,000 $164,137
    2.5-3% 143 $9,015,000 $63,042
    5-6% 127 $14,265,000 $112,323
    3-4% 101 $16,205,000 $160,446
    <2.5% 29 $145,000 $5,000
    6-7% 12 $570,000 $47,500
    Over 8% 1 $55,000 $55,000

    During 2018, Cobalt Credit Union's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was 4-5%, with 556 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 386 $19,970,000 $51,736 $1,323 3.99%
    $100k-200k 379 $54,905,000 $144,868 $3,034 4.49%
    $200k-400k 191 $50,015,000 $261,859 $3,385 4.46%
    $400k-600k 10 $4,460,000 $446,000 $3,480 4.29%
    $600k-1MM 3 $2,165,000 $721,667 $8,576 4.96%

    2018 saw Cobalt Credit Union place emphasis on $100,000 or less loans with 386 originations, totaling $19,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 240 $29,180,000 $121,583 $2,750 4.24%
    $50k or less 212 $20,180,000 $95,189 $2,487 4.29%
    $100k-150k 185 $28,325,000 $153,108 $2,520 4.20%
    $75k-100k 176 $26,890,000 $152,784 $2,930 4.27%
    $150k-250k 112 $18,000,000 $160,714 $1,940 4.20%
    $250k+ 13 $3,635,000 $279,615 $2,916 4.22%

    Cobalt Credit Union lent most frequently to those with incomes in the $50k-75k range, with 240 originations. The second most popular income band? $50k or less, with 212 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 221 $27,145,000 $122,828 $2,078 4.15%
    30-36% 166 $22,990,000 $138,494 $2,664 4.28%
    <20% 100 $8,460,000 $84,600 $1,476 3.28%
    42% 49 $5,935,000 $121,122 $2,808 4.46%
    40% 43 $6,205,000 $144,302 $2,466 4.59%
    41% 41 $6,375,000 $155,488 $3,026 4.58%
    36% 37 $5,055,000 $136,622 $2,464 4.50%
    37% 35 $5,505,000 $157,286 $2,095 4.42%
    39% 34 $5,330,000 $156,765 $2,673 4.45%
    43% 32 $4,770,000 $149,063 $2,787 4.48%
    44% 31 $5,325,000 $171,774 $4,109 4.37%
    45% 27 $4,115,000 $152,407 $2,549 4.61%
    38% 25 $3,135,000 $125,400 $2,974 4.48%
    49% 22 $3,580,000 $162,727 $3,476 4.68%
    50-60% 22 $3,970,000 $180,455 $4,435 4.24%
    46% 19 $3,605,000 $189,737 $3,769 4.54%
    48% 13 $1,775,000 $136,538 $3,505 4.46%
    47% 12 $1,420,000 $118,333 $3,266 4.74%
    >60% 6 $1,090,000 $181,667 $2,459 3.60%

    Cobalt Credit Union lent most frequently to those with DTI ratios of 20-30%, with 221 originations. The next most common DTI ratio? 30-36%, with 166 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 784 $104,600,000 $133,418 $2,553 4.23%
    Not provided 113 $16,295,000 $144,204 $2,889 4.31%
    Not applicable 31 $5,305,000 $171,129 $0 5.50%
    Black 25 $3,185,000 $127,400 $3,094 4.27%
    American Indian 10 $1,090,000 $109,000 $2,069 4.29%
    Asian 5 $925,000 $185,000 $2,321 4.65%
    Korean 1 $115,000 $115,000 $0 5.63%

    Approval Rates

    Total approvals of all applications
    89.28%

    Cobalt Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.40%

    Cobalt Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 969 $131,515,000 $135,722

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $3,375,000 $306,818
    Single Family (1-4 Units):Manufactured 6 $800,000 $133,333
    Single Family (1-4 Units):Site-Built 952 $127,340,000 $133,761

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 82 $5,220,000 $63,659 $756 3.98%
    40-60% 57 $6,625,000 $116,228 $1,972 4.13%
    60-80% 160 $28,340,000 $177,125 $2,441 4.52%
    80-100% 476 $80,370,000 $168,845 $3,070 4.59%
    Over 100% 21 $4,625,000 $220,238 $7,788 4.13%
    Under 20% 166 $5,370,000 $32,349 $367 3.41%