Wasatch Peaks Federal Credit Union Mortgage Rates, Fees & Info
Ogden, UTLEI: 2549008CBS11KBKU4Z95
Tax ID: 87-0135033
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Mortgage Data
Review & Overview
Wasatch Peaks Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Wasatch Peaks Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Ogden, Salt Lake City, Idaho Falls, Kennewick, and Evanston among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Wasatch Peaks Federal Credit Union has an above average approval rate when compared to the average across all lenders. Wasatch Peaks Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 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. | ||
Wasatch Peaks Federal Credit Union Mortgage Calculator
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This is not an official calculator from Wasatch Peaks Federal 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
136Origination Dollar Volume (All Markets)
$27,000,000Top 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 |
|---|---|---|---|---|---|
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 123 | $23,635,000 | $192,154 | $3,442 | 4.22% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $6,567 | 4.08% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,990 | 4.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,298 | 4.25% |
| Outside of Metro Areas | 2 | $410,000 | $205,000 | $3,954 | 3.38% |
| Evanston, WY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,943 | 3.50% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,238 | 3.25% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,625 | 3.99% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,190 | 4.38% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,604 | 4.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Wasatch Peaks Federal Credit Union 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 | 135 | $26,775,000 | $198,333 | $3,508 | 4.20% |
| USDA | 1 | $225,000 | $225,000 | $6,566 | 3.63% |
For 2019, Wasatch Peaks Federal Credit Union's most frequently originated type of loan was Conventional, with 135 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Wasatch Peaks Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 84 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
For 2019, Wasatch Peaks Federal Credit Union's most frequently cited loan duration was 10 Year, with 98 originations. The 2nd most popular length was 30 Year, with 22 originations.
Origination Fees/Closing Costs
Wasatch Peaks Federal Credit Union's average total fees were $4,494, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 49 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 75 | $15,865,000 | $211,533 |
| 4-5% | 50 | $9,840,000 | $196,800 |
| 5-6% | 8 | $990,000 | $123,750 |
| Over 8% | 2 | $120,000 | $60,000 |
| 6-7% | 1 | $185,000 | $185,000 |
During 2019, Wasatch Peaks Federal Credit Union's average interest rate for loans was 4.17%, while their most frequently originated rate bucket for loans was 3-4%, with 75 originations.
Loan Sizing
2019 saw Wasatch Peaks Federal Credit Union place emphasis on $100k-200k loans with 55 originations, totaling $8,495,000 in origination value.
Applicant Income
Wasatch Peaks Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $50k-75k, with 35 originations.
Applicant Debt to Income Ratio
Wasatch Peaks Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 46 originations. The next most common DTI ratio? 30-36%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.27%
Wasatch Peaks Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 136 | $27,000,000 | $198,529 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 136 | $27,000,000 | $198,529 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WESTSTAR MORTGAGE CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 20.0% |
| WESTSTAR MORTGAGE CORPORATION | FHA mortgage | Trouble during payment process | 1 | 20.0% |
| WESTSTAR MORTGAGE CORPORATION | Other type of mortgage | Trouble during payment process | 2 | 40.0% |
| WESTSTAR MORTGAGE CORPORATION | VA mortgage | Trouble during payment process | 1 | 20.0% |