Premier Members Credit Union Mortgage Interest Rate and Cost Review

Is Premier Members Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Premier Members Credit Union to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Premier Members Credit Union nationally:

Review ItemPremier Members Credit Union
Interest Ratelower than other lenders (-0.21%)
Loan Related Closing Costshigher than other lenders (+$711)
National Rate and Closing Cost Star Rating(4.5)

On average, Premier Members Credit Union’s interest rates were lower than those of other lenders (-0.21%) for a comparable set of borrowers. On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$711. Overall, combining interest rates and closing costs we estimate that Premier Members Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. To visit Premier Members Credit Union, its website is located at: https://www.pmcu.org.

Premier Members Credit Union’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Premier Members Credit Union was most active in:

  1. Denver, CO
  2. Fort Collins, CO
  3. Colorado Springs, CO
  4. Phoenix, AZ
  5. Omaha, NE

You can click through to check out Premier Members Credit Union’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.

Premier Members Credit Union’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Premier Members Credit Union originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingJumbo
Interest Rate Difference-0.11%-0.03%
Loan Related Closing Cost Difference+$590+$25
Cost Adjusted Rate Difference-0.09%-0.03%
National Star Rating(4)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.26%-0.04%
Loan Related Closing Cost Difference+$782+$483
Cost Adjusted Rate Difference-0.22%-0.03%
Average Star Rating(4.5)(3.5)

As a summary, Premier Members Credit Union is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Premier Members Credit Union is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Premier Members Credit Union:

Registered name: Premier Members Credit Union
Registered city and state: BOULDER, CO, 80303
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Premier Members Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.