Covantage Credit Union Mortgage Rates, Fees & Info
Antigo, WILEI: 254900CIEUZUO7CHPG88
Tax ID: 39-0945701
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Mortgage Data
Review & Overview
Covantage Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Covantage Credit Union has a high proportion of conventional loans. They have a low ratio of USDA 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: Wausau, Shawano, Stevens Point, Green Bay, and Milwaukee among others. We have data for 45 markets. (Some data included below & more in-depth data is available with an active subscription.)Covantage 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. Covantage 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 7.02% | 11/17/24 |
| 30 Year Conventional Refi | 6.72% | 11/17/24 |
| 30 Year Cash-out Refi | 7.10% | 11/17/24 |
| 30 Year USDA Purchase | 7.25% | 11/17/24 |
| 15 Year Conventional Purchase | 6.23% | 11/17/24 |
| 15 Year Conventional Refi | 5.99% | 11/17/24 |
| 15 Year Cash-out Refi | 5.99% | 11/17/24 |
| 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. | ||
Covantage Credit Union Mortgage Calculator
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This is not an official calculator from Covantage Credit Union. 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
3,616Origination Dollar Volume (All Markets)
$383,400,000Awards
CoVantage Credit Union - 2023
CoVantage Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Covantage Credit Union's average 30 year fixed mortgage rate was
6.62%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
Covantage Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,170.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 984 | $98,940,000 | $100,549 | $3,048 | 7.25% |
| Outside of Metro Areas | 1,128 | $86,360,000 | $76,560 | $2,677 | 7.27% |
| Shawano, WI (FHA|USDA|VA) | 457 | $33,965,000 | $74,322 | $2,542 | 7.20% |
| Stevens Point, WI (FHA|USDA|VA) | 182 | $30,330,000 | $166,648 | $3,223 | 7.04% |
| GREEN BAY, WI (FHA|USDA|VA) | 258 | $29,280,000 | $113,488 | $3,060 | 7.22% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 21 | $26,375,000 | $1,255,952 | $3,075 | 7.34% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 74 | $15,710,000 | $212,297 | $5,006 | 7.23% |
| APPLETON, WI (FHA|USDA|VA) | 126 | $14,930,000 | $118,492 | $3,122 | 7.25% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 61 | $9,945,000 | $163,033 | $3,527 | 7.22% |
| Marinette, WI-MI (FHA|USDA|VA) | 96 | $8,650,000 | $90,104 | $3,414 | 7.14% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 85 | $7,125,000 | $83,824 | $3,158 | 7.40% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 43 | $3,965,000 | $92,209 | $2,963 | 6.92% |
| MADISON, WI (FHA|USDA|VA) | 12 | $2,440,000 | $203,333 | $3,257 | 7.21% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $2,350,000 | $587,500 | $6,090 | 7.56% |
| Manitowoc, WI (FHA|USDA|VA) | 17 | $1,985,000 | $116,765 | $3,199 | 6.92% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 7 | $1,765,000 | $252,143 | $4,544 | 7.05% |
| FOND DU LAC, WI (FHA|USDA|VA) | 12 | $1,740,000 | $145,000 | $3,500 | 6.48% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 5 | $1,295,000 | $259,000 | $3,441 | 7.53% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,405 | 6.72% |
| Houghton, MI (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $2,884 | 7.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 7.38% |
| RACINE, WI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,084 | 6.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,535 | 6.13% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,066 | 7.44% |
| Beaver Dam, WI (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $0 | 6.98% |
| Marquette, MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,590 | 7.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,835 | 7.38% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,404 | 6.50% |
| Platteville, WI (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,470 | 7.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 7.25% |
| KANKAKEE, IL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,202 | 7.13% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,633 | 5.88% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 7.13% |
| NILES, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,098 | 6.88% |
| FLINT, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,930 | 7.50% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,681 | 6.13% |
| Dixon, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,816 | 7.25% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,073 | 6.50% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 7.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 10.75% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 7.25% |
| Escanaba, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,768 | 6.25% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.50% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against CoVantage 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
For 2023, Covantage Credit Union's most frequently originated type of loan was HELOC, with 2,172 originations. Their 2nd most popular type was Conventional, with 1,441 originations.
Loan Reason
For 2023, Covantage Credit Union's most frequently cited loan purpose was Other, with 1,277 originations. The 2nd most popular reason was Home Purchase, with 948 originations.
Loan Duration/Length
For 2023, Covantage Credit Union's most frequently cited loan duration was 10 Year, with 2,109 originations. The 2nd most popular length was 30 Year, with 1,010 originations.
Origination Fees/Closing Costs
Covantage Credit Union's average total fees were $3,170, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,218 originations.
Interest Rates
During 2023, Covantage Credit Union's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was 7-8%, with 1,640 originations.
Loan Sizing
2023 saw Covantage Credit Union place emphasis on $100,000 or less loans with 2,405 originations, totaling $104,285,000 in origination value.
Applicant Income
Covantage Credit Union lent most frequently to those with incomes in the $50k-75k range, with 896 originations. The second most popular income band? $50k or less, with 816 originations.
Applicant Debt to Income Ratio
Covantage Credit Union lent most frequently to those with DTI ratios of 20-30%, with 721 originations. The next most common DTI ratio? 30-36%, with 545 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.62%
Covantage Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination74.67%
Covantage Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2,172 | $106,710,000 | $49,130 |
| NA | 1,444 | $276,690,000 | $191,614 |