Colten Mortgage Rates, Fees & Info
Englewood, COLEI: 549300YBQQ97B6Y7LE69
Tax ID: 82-0758546
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Mortgage Data
Review & Overview
Colten Mortgage is a smaller mortgage company specializing in Home Purchase loans. Colten Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Denver, Colorado Springs, Nashville, Charlotte, and Greeley among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Colten Mortgage 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. Colten Mortgage is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.83% | 3/24/24 |
| 30 Year Conventional Refi | 6.58% | 3/24/24 |
| 30 Year Cash-out Refi | 6.96% | 3/24/24 |
| 30 Year FHA Purchase | 7.60% | 3/24/24 |
| 30 Year FHA Refi | 7.04% | 3/24/24 |
| 30 Year VA Purchase | 6.46% | 3/24/24 |
| 30 Year USDA Purchase | 6.99% | 3/24/24 |
| 30 Year USDA Refi | 6.64% | 3/24/24 |
| 15 Year Conventional Purchase | 6.44% | 3/24/24 |
| 15 Year Conventional Refi | 6.18% | 3/24/24 |
| 15 Year Cash-out Refi | 6.18% | 3/24/24 |
| 15 Year VA Refi | 6.03% | 3/24/24 |
| 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. | ||
Colten Mortgage Mortgage Calculator
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This is not an official calculator from Colten Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
162Origination Dollar Volume (All Markets)
$52,630,000Awards
Colten Mortgage - 2018
Colten Mortgage is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 122 | $41,960,000 | $343,934 | $4,775 | 4.91% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 16 | $5,090,000 | $318,125 | $5,924 | 4.69% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 12 | $3,030,000 | $252,500 | $4,087 | 5.10% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 6 | $1,510,000 | $251,667 | $1,957 | 5.19% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,739 | 4.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,940 | 4.63% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,670 | 5.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,759 | 4.88% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,268 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Colten Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 99 | $31,945,000 | $322,677 | $3,189 | 4.98% |
| FHA | 45 | $14,615,000 | $324,778 | $7,730 | 4.86% |
| VA | 18 | $6,070,000 | $337,222 | $5,411 | 4.64% |
For 2018, Colten Mortgage's most frequently originated type of loan was Conventional, with 99 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2018, Colten Mortgage's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
For 2018, Colten Mortgage's most frequently cited loan duration was 30 Year, with 157 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Colten Mortgage's average total fees were $4,762, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 108 | $36,080,000 | $334,074 |
| 5-6% | 53 | $16,385,000 | $309,151 |
| 6-7% | 1 | $165,000 | $165,000 |
During 2018, Colten Mortgage's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 4-5%, with 108 originations.
Loan Sizing
2018 saw Colten Mortgage place emphasis on $200k-400k loans with 105 originations, totaling $32,445,000 in origination value.
Applicant Income
Colten Mortgage lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $75k-100k, with 40 originations.
Applicant Debt to Income Ratio
Colten Mortgage lent most frequently to those with DTI ratios of 30-36%, with 25 originations. The next most common DTI ratio? 20-30%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.52%
Colten Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination64.20%
Colten Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4737.53 | 1 | $365,000 | $365,000 |
| NA | 161 | $52,265,000 | $324,627 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $135,000 | $135,000 |
| Single Family (1-4 Units):Site-Built | 161 | $52,495,000 | $326,056 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Colten Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Colten Mortgage, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |