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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Omaha, Lincoln, Vermillion, Fremont, and Columbus among others. We have data for 7 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% 12/16/24
    30 Year Conventional Purchase 6.25% 12/16/24
    30 Year Conventional Refi 6.45% 12/16/24
    30 Year Cash-out Refi 6.50% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 5.56% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 6.10% 12/16/24
    15 Year Cash-out Refi 6.10% 12/16/24
    15 Year FHA Purchase 5.68% 12/16/24
    15 Year VA Refi 5.73% 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.

    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

    555

    Origination Dollar Volume (All Markets)

    $84,485,000
    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) 528 $80,540,000 $152,538 $2,276 3.29%
    Outside of Metro Areas 13 $1,455,000 $111,923 $2,685 3.24%
    LINCOLN, NE (FHA|USDA|VA) 7 $915,000 $130,714 $1,317 3.53%
    Vermillion, SD (FHA|USDA|VA) 1 $725,000 $725,000 $0 3.50%
    Fremont, NE (FHA|USDA|VA) 4 $660,000 $165,000 $2,256 3.03%
    Columbus, NE (FHA|USDA|VA) 1 $155,000 $155,000 $3,454 2.00%
    Beatrice, NE (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.50%
    Cobalt Credit Union's top markets include Omaha, Lincoln, Vermillion, Fremont, and Columbus among others.

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

    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 322
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 413
    MUTUAL FIRST
    Similarity Rank: 484
    Cobalt Credit Union
    Similarity Rank: 490
    Five Points Bank
    Similarity Rank: 572
    METRO CU
    Similarity Rank: 720
    CORNHUSKER BANK
    Similarity Rank: 782
    Central National Bank
    Similarity Rank: 792
    Security First Bank
    Similarity Rank: 812
    LIBERTY FIRST
    Similarity Rank: 882

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 333 $60,545,000 $181,817 $1,998 3.26%
    HELOC 159 $11,025,000 $69,340 n/a 3.69%
    VA 52 $11,420,000 $219,615 $3,418 2.43%
    FHA 11 $1,495,000 $135,909 $4,591 2.47%

    For 2021, Cobalt Credit Union's most frequently originated type of loan was Conventional, with 333 originations. Their 2nd most popular type was HELOC, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 161 $35,515,000 $220,590 $2,731 3.00%
    Home Improvement 129 $7,675,000 $59,496 $496 3.91%
    Other 90 $8,070,000 $89,667 $1,502 3.59%
    Cash Out Refi 89 $16,895,000 $189,831 $2,688 3.09%
    Refi 86 $16,330,000 $189,884 $2,154 2.80%

    For 2021, Cobalt Credit Union's most frequently cited loan purpose was Home Purchase, with 161 originations. The 2nd most popular reason was Home Improvement, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 234 $45,390,000 $193,974 $2,697 2.89%
    20 Year 169 $12,465,000 $73,757 $2,279 3.64%
    15 Year 82 $11,070,000 $135,000 $1,906 2.87%
    5 Year 25 $9,505,000 $380,200 $307 3.91%
    10 Year 22 $2,540,000 $115,455 $1,017 4.03%
    Other 21 $3,465,000 $165,000 $400 5.00%
    3 Year 2 $50,000 $25,000 $158 3.88%

    For 2021, Cobalt Credit Union's most frequently cited loan duration was 30 Year, with 234 originations. The 2nd most popular length was 20 Year, with 169 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $51,920,000 $164,304
    $1k-2k 29 $4,145,000 $142,931
    $2k-3k 4 $1,160,000 $290,000
    $5k+ 2 $1,720,000 $860,000
    $3k-4k 1 $395,000 $395,000

    Cobalt Credit Union's average total fees were $2,697, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 257 $35,555,000 $138,346
    2.5-3% 161 $27,405,000 $170,217
    <2.5% 96 $17,690,000 $184,271
    4-5% 25 $3,055,000 $122,200
    5-6% 8 $350,000 $43,750
    6-7% 5 $235,000 $47,000
    7-8% 3 $195,000 $65,000

    During 2021, Cobalt Credit Union's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was 3-4%, with 257 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 233 $13,125,000 $56,330 $1,265 3.74%
    $100k-200k 205 $29,755,000 $145,146 $2,404 2.99%
    $200k-400k 101 $27,405,000 $271,337 $2,776 2.90%
    $400k-600k 8 $3,600,000 $450,000 $3,045 2.69%
    $1MM+ 5 $8,375,000 $1,675,000 $12,999 3.35%
    $600k-1MM 3 $2,225,000 $741,667 $9,507 3.58%

    2021 saw Cobalt Credit Union place emphasis on $100,000 or less loans with 233 originations, totaling $13,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 138 $16,110,000 $116,739 $2,339 3.17%
    $100k-150k 125 $20,045,000 $160,360 $2,050 3.26%
    $75k-100k 103 $12,215,000 $118,592 $2,101 3.36%
    $50k or less 71 $8,085,000 $113,873 $2,395 3.05%
    $150k-250k 68 $10,630,000 $156,324 $2,384 3.41%
    $250k+ 16 $3,960,000 $247,500 $4,493 3.51%

    Cobalt Credit Union lent most frequently to those with incomes in the $50k-75k range, with 138 originations. The second most popular income band? $100k-150k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 160 $20,970,000 $131,063 $2,270 3.21%
    30-36% 102 $12,000,000 $117,647 $2,069 3.45%
    <20% 76 $9,670,000 $127,237 $2,162 3.16%
    42% 23 $3,205,000 $139,348 $3,003 3.41%
    36% 22 $3,560,000 $161,818 $1,979 3.21%
    40% 19 $3,465,000 $182,368 $2,015 3.19%
    37% 19 $3,155,000 $166,053 $2,536 3.18%
    44% 17 $2,555,000 $150,294 $2,949 3.20%
    41% 15 $1,875,000 $125,000 $2,113 3.57%
    39% 12 $1,510,000 $125,833 $1,672 3.81%
    43% 12 $1,680,000 $140,000 $1,920 3.06%
    45% 11 $1,715,000 $155,909 $3,136 2.61%
    38% 10 $1,050,000 $105,000 $1,967 3.25%
    49% 5 $735,000 $147,000 $2,032 2.75%
    46% 4 $750,000 $187,500 $2,311 3.03%
    47% 4 $440,000 $110,000 $2,283 2.94%
    48% 4 $680,000 $170,000 $2,337 2.87%
    50-60% 4 $1,480,000 $370,000 $5,063 2.50%
    >60% 1 $135,000 $135,000 $1,645 2.25%

    Cobalt Credit Union lent most frequently to those with DTI ratios of 20-30%, with 160 originations. The next most common DTI ratio? 30-36%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 435 $60,035,000 $138,011 $2,223 3.24%
    Not applicable 33 $13,385,000 $405,606 $0 3.90%
    Not provided 57 $7,295,000 $127,982 $2,276 3.32%
    Black 24 $3,340,000 $139,167 $3,242 3.27%
    Asian 5 $365,000 $73,000 $4,091 3.14%
    Asian Indian 1 $65,000 $65,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    87.18%

    Cobalt Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.77%

    Cobalt Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 555 $84,485,000 $152,225

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    555 $84,485,000 $152,225

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $6,715,000 $77,184 $1,252 3.75%
    40-60% 76 $9,580,000 $126,053 $2,016 2.94%
    60-80% 141 $29,515,000 $209,326 $2,330 3.12%
    80-100% 132 $30,670,000 $232,348 $2,950 2.86%
    Over 100% 9 $3,105,000 $345,000 $8,091 3.38%
    Under 20% 110 $4,900,000 $44,545 $226 3.90%