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 and Refi 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, Kansas City, Fremont, and Sioux City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cobalt Credit Union has an above 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% 4/21/24
    30 Year Conventional Purchase 6.25% 4/21/24
    30 Year Conventional Refi 6.45% 4/21/24
    30 Year Cash-out Refi 6.50% 4/21/24
    30 Year FHA Purchase 6.27% 4/21/24
    30 Year VA Purchase 5.56% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 5.68% 4/21/24
    15 Year Conventional Refi 6.10% 4/21/24
    15 Year Cash-out Refi 6.10% 4/21/24
    15 Year FHA Purchase 5.68% 4/21/24
    15 Year VA Refi 5.73% 4/21/24
    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

    1,032

    Origination Dollar Volume (All Markets)

    $181,220,000
    Show all (8) 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) 969 $168,835,000 $174,236 $2,813 3.15%
    LINCOLN, NE (FHA|USDA|VA) 15 $3,575,000 $238,333 $2,647 3.42%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $3,525,000 $3,525,000 $0 4.17%
    Outside of Metro Areas 26 $2,500,000 $96,154 $3,244 3.26%
    Fremont, NE (FHA|USDA|VA) 17 $2,105,000 $123,824 $2,186 3.31%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $265,000 $265,000 $2,787 2.63%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $165,000 $165,000 $2,512 3.25%
    Columbus, NE (FHA|USDA|VA) 1 $145,000 $145,000 $2,163 3.13%
    Beatrice, NE (FHA|USDA|VA) 1 $105,000 $105,000 $3,938 3.25%
    Cobalt Credit Union's top markets include Omaha, Lincoln, Kansas City, Fremont, and Sioux City among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Missouri (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.

    CREIGHTON FEDERAL CREDIT UNION
    Similarity Rank: 207
    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 252
    MUTUAL FIRST
    Similarity Rank: 288
    LIBERTY FIRST
    Similarity Rank: 396
    CORNHUSKER BANK
    Similarity Rank: 495
    South Metro Federal Credit Union
    Similarity Rank: 564
    Cobalt Credit Union
    Similarity Rank: 855
    METRO CU
    Similarity Rank: 880
    Central National Bank
    Similarity Rank: 900
    Union Bank and Trust Company
    Similarity Rank: 1240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 633 $119,425,000 $188,665 $2,188 3.18%
    VA 159 $38,535,000 $242,358 $3,667 2.63%
    HELOC 150 $9,040,000 $60,267 n/a 3.72%
    FHA 86 $13,660,000 $158,837 $5,266 2.96%
    USDA 4 $560,000 $140,000 $4,177 3.34%

    For 2020, Cobalt Credit Union's most frequently originated type of loan was Conventional, with 633 originations. Their 2nd most popular type was VA, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 433 $83,755,000 $193,430 $3,135 2.91%
    Refi 246 $52,750,000 $214,431 $2,480 2.93%
    Cash Out Refi 160 $30,490,000 $190,563 $2,924 3.30%
    Home Improvement 108 $5,900,000 $54,630 $910 4.02%
    Other 85 $8,325,000 $97,941 $1,810 3.70%

    For 2020, Cobalt Credit Union's most frequently cited loan purpose was Home Purchase, with 433 originations. The 2nd most popular reason was Refi, with 246 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 652 $130,270,000 $199,801 $3,083 2.97%
    20 Year 185 $16,015,000 $86,568 $2,890 3.53%
    15 Year 105 $17,805,000 $169,571 $2,054 3.05%
    10 Year 54 $7,960,000 $147,407 $492 3.37%
    Other 19 $7,065,000 $371,842 $535 4.91%
    5 Year 16 $1,950,000 $121,875 $324 4.36%
    1 Year 1 $155,000 $155,000 $0 6.25%

    For 2020, Cobalt Credit Union's most frequently cited loan duration was 30 Year, with 652 originations. The 2nd most popular length was 20 Year, with 185 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 683 $125,865,000 $184,283
    $1k-2k 110 $18,970,000 $172,455
    $2k-3k 8 $1,930,000 $241,250
    $3k-4k 6 $1,930,000 $321,667
    $5k+ 6 $4,260,000 $710,000

    Cobalt Credit Union's average total fees were $3,083, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 683 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 433 $64,465,000 $148,880
    2.5-3% 325 $64,655,000 $198,938
    <2.5% 193 $37,255,000 $193,031
    4-5% 59 $13,285,000 $225,169
    5-6% 10 $720,000 $72,000
    6-7% 9 $685,000 $76,111
    7-8% 3 $155,000 $51,667

    During 2020, Cobalt Credit Union's average interest rate for loans was 2.97%, while their most frequently originated rate bucket for loans was 3-4%, with 433 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 424 $63,220,000 $149,104 $2,785 3.16%
    $100,000 or less 286 $15,480,000 $54,126 $1,531 3.43%
    $200k-400k 286 $77,960,000 $272,587 $3,269 2.89%
    $400k-600k 26 $11,850,000 $455,769 $3,836 2.87%
    $1MM+ 5 $8,845,000 $1,769,000 $14,333 3.88%
    $600k-1MM 5 $3,865,000 $773,000 $9,995 3.38%

    2020 saw Cobalt Credit Union place emphasis on $100k-200k loans with 424 originations, totaling $63,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 257 $49,135,000 $191,187 $2,722 3.13%
    $50k-75k 216 $30,580,000 $141,574 $2,605 3.11%
    $50k or less 174 $18,160,000 $104,368 $2,554 2.92%
    $75k-100k 170 $27,970,000 $164,529 $3,153 3.18%
    $150k-250k 146 $31,780,000 $217,671 $3,043 3.16%
    $250k+ 27 $7,795,000 $288,704 $4,852 3.47%

    Cobalt Credit Union lent most frequently to those with incomes in the $100k-150k range, with 257 originations. The second most popular income band? $50k-75k, with 216 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 277 $45,775,000 $165,253 $2,502 3.00%
    30-36% 203 $35,845,000 $176,576 $2,854 3.25%
    <20% 144 $19,030,000 $132,153 $2,268 2.79%
    40% 45 $6,715,000 $149,222 $3,115 3.52%
    36% 43 $7,675,000 $178,488 $3,279 3.35%
    42% 35 $5,825,000 $166,429 $2,725 3.53%
    38% 35 $6,735,000 $192,429 $2,852 2.94%
    41% 33 $5,385,000 $163,182 $3,286 3.26%
    39% 30 $5,540,000 $184,667 $3,006 3.20%
    37% 30 $5,100,000 $170,000 $2,817 3.47%
    43% 27 $4,815,000 $178,333 $3,041 3.15%
    45% 18 $2,770,000 $153,889 $3,285 3.01%
    50-60% 15 $2,965,000 $197,667 $4,222 2.93%
    44% 14 $2,080,000 $148,571 $2,790 3.20%
    46% 11 $2,105,000 $191,364 $3,682 2.84%
    47% 11 $2,795,000 $254,091 $3,777 3.03%
    49% 9 $2,355,000 $261,667 $3,258 2.96%
    48% 9 $1,725,000 $191,667 $4,252 2.92%
    >60% 1 $185,000 $185,000 $5,850 3.50%

    Cobalt Credit Union lent most frequently to those with DTI ratios of 20-30%, with 277 originations. The next most common DTI ratio? 30-36%, with 203 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 733 $121,075,000 $165,177 $2,690 3.17%
    Not provided 217 $37,455,000 $172,604 $3,288 2.94%
    Not applicable 42 $15,800,000 $376,190 $0 4.26%
    Black 23 $3,725,000 $161,957 $2,371 3.15%
    American Indian 9 $1,445,000 $160,556 $3,214 2.84%
    Asian 4 $820,000 $205,000 $2,623 3.00%
    Native Hawaiian or Islander 2 $400,000 $200,000 $2,611 2.94%
    Asian Indian 1 $345,000 $345,000 $2,354 2.13%
    Other Asian 1 $155,000 $155,000 $2,226 2.99%

    Approval Rates

    Total approvals of all applications
    91.82%

    Cobalt Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.36%

    Cobalt Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,032 $181,220,000 $175,601

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $12,015,000 $924,231
    Single Family (1-4 Units):Manufactured 4 $540,000 $135,000
    Single Family (1-4 Units):Site-Built 1,015 $168,665,000 $166,172

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 91 $7,505,000 $82,473 $1,516 3.92%
    40-60% 100 $16,510,000 $165,100 $2,129 3.14%
    60-80% 269 $60,795,000 $226,004 $2,682 3.16%
    80-100% 422 $85,990,000 $203,768 $3,284 3.03%
    Over 100% 9 $2,215,000 $246,111 $7,881 2.60%
    Under 20% 125 $4,005,000 $32,040 $152 3.14%