Covantage Credit Union Mortgage Rates, Fees & Info

Antigo, WI

LEI: 254900CIEUZUO7CHPG88

Tax ID: 39-0945701

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • 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

    Covantage Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Covantage Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Wausau, Shawano, Stevens Point, Green Bay, and Marinette among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Covantage 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. 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/21/24
    30 Year Conventional Purchase 7.02% 11/21/24
    30 Year Conventional Refi 6.72% 11/21/24
    30 Year Cash-out Refi 7.10% 11/21/24
    30 Year USDA Purchase 7.25% 11/21/24
    15 Year Conventional Purchase 6.23% 11/21/24
    15 Year Conventional Refi 5.99% 11/21/24
    15 Year Cash-out Refi 5.99% 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.

    Covantage Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Covantage 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

    2,673

    Origination Dollar Volume (All Markets)

    $235,465,000
    Show all (5) 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
    WAUSAU-WESTON, WI (FHA|USDA|VA) 857 $81,595,000 $95,210 $1,420 4.66%
    Outside of Metro Areas 952 $71,970,000 $75,599 $1,308 4.61%
    Shawano, WI (FHA|USDA|VA) 434 $36,340,000 $83,733 $1,847 4.57%
    Stevens Point, WI (FHA|USDA|VA) 177 $22,925,000 $129,520 $1,058 4.45%
    GREEN BAY, WI (FHA|USDA|VA) 93 $7,855,000 $84,462 $1,305 4.71%
    Marinette, WI-MI (FHA|USDA|VA) 48 $3,650,000 $76,042 $1,372 4.44%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 39 $3,235,000 $82,949 $1,120 4.50%
    APPLETON, WI (FHA|USDA|VA) 19 $2,615,000 $137,632 $1,614 4.55%
    Iron Mountain, MI-WI (FHA|USDA|VA) 21 $1,265,000 $60,238 $676 4.79%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $1,160,000 $145,000 $2,308 4.58%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 6 $680,000 $113,333 $1,658 4.83%
    MADISON, WI (FHA|USDA|VA) 4 $540,000 $135,000 $2,691 5.06%
    Manitowoc, WI (FHA|USDA|VA) 5 $415,000 $83,000 $1,229 4.95%
    Marquette, MI (FHA|USDA|VA) 2 $280,000 $140,000 $2,034 5.00%
    Menomonie, WI (FHA|USDA|VA) 2 $210,000 $105,000 $2,575 4.57%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $185,000 $185,000 $1,810 4.63%
    MONROE, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,347 4.63%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,459 4.50%
    Houghton, MI (FHA|USDA|VA) 1 $115,000 $115,000 $1,951 5.13%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $95,000 $95,000 $1,752 4.88%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.00%
    Covantage Credit Union's top markets include Wausau, Shawano, Stevens Point, Green Bay, and Marinette among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • 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.

    AppleTree Credit Union
    Similarity Rank: 10
    NORTHWESTERN MUTUAL
    Similarity Rank: 12
    UNISON CREDIT UNION
    Similarity Rank: 28
    Prevail Bank
    Similarity Rank: 45
    PCM
    Similarity Rank: 66
    Cloverbelt Credit Union
    Similarity Rank: 85
    AbbyBank
    Similarity Rank: 110
    Kohler Credit Union
    Similarity Rank: 128
    mBank
    Similarity Rank: 130
    Empower Credit Union
    Similarity Rank: 135

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,328 $222,400,000 $95,533 $1,404 4.55%
    HELOC 331 $11,525,000 $34,819 n/a 5.07%
    USDA 14 $1,540,000 $110,000 $2,950 4.60%

    For 2018, Covantage Credit Union's most frequently originated type of loan was Conventional, with 2,328 originations. Their 2nd most popular type was HELOC, with 331 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 832 $72,110,000 $86,671 $1,309 4.37%
    Home Purchase 799 $88,735,000 $111,058 $2,059 4.72%
    Refi 514 $53,950,000 $104,961 $1,075 4.41%
    Other 494 $14,800,000 $29,960 $216 5.06%
    Home Improvement 31 $5,595,000 $180,484 $3,108 4.67%
    NA 3 $275,000 $91,667 $0 4.96%

    For 2018, Covantage Credit Union's most frequently cited loan purpose was Cash Out Refi, with 832 originations. The 2nd most popular reason was Home Purchase, with 799 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 929 $114,675,000 $123,439 $1,976 4.66%
    10 Year 895 $41,535,000 $46,408 $334 4.44%
    Other 315 $31,085,000 $98,683 $1,386 4.32%
    20 Year 269 $23,445,000 $87,156 $1,892 5.17%
    15 Year 185 $13,775,000 $74,459 $1,285 4.82%
    5 Year 68 $4,140,000 $60,882 $343 4.81%
    1 Year 6 $1,070,000 $178,333 $3,247 4.52%
    3 Year 5 $5,715,000 $1,143,000 $0 4.17%
    30+ year 1 $25,000 $25,000 $0 5.75%

    For 2018, Covantage Credit Union's most frequently cited loan duration was 30 Year, with 929 originations. The 2nd most popular length was 10 Year, with 895 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,077 $188,965,000 $90,980
    $1k-2k 46 $8,560,000 $186,087
    $2k-3k 7 $1,485,000 $212,143
    $3k-4k 3 $895,000 $298,333

    Covantage Credit Union's average total fees were $1,976, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,077 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,240 $133,160,000 $107,387
    3-4% 545 $45,125,000 $82,798
    5-6% 502 $37,860,000 $75,418
    2.5-3% 244 $14,820,000 $60,738
    6-7% 84 $2,670,000 $31,786
    7-8% 54 $1,710,000 $31,667
    Over 8% 4 $120,000 $30,000

    During 2018, Covantage Credit Union's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 1,240 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,830 $89,380,000 $48,842 $1,108 4.65%
    $100k-200k 668 $91,860,000 $137,515 $1,716 4.52%
    $200k-400k 164 $42,570,000 $259,573 $2,912 4.55%
    $400k-600k 7 $3,555,000 $507,857 $2,789 4.55%
    $1MM+ 2 $6,330,000 $3,165,000 $0 4.37%
    $600k-1MM 2 $1,770,000 $885,000 $0 5.00%

    2018 saw Covantage Credit Union place emphasis on $100,000 or less loans with 1,830 originations, totaling $89,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 827 $54,185,000 $65,520 $1,509 4.56%
    $50k-75k 739 $60,205,000 $81,468 $1,322 4.67%
    $75k-100k 492 $46,210,000 $93,923 $1,337 4.61%
    $100k-150k 374 $36,610,000 $97,888 $1,550 4.60%
    $150k-250k 118 $14,560,000 $123,390 $1,286 4.50%
    $250k+ 29 $5,215,000 $179,828 $1,321 4.49%

    Covantage Credit Union lent most frequently to those with incomes in the $50k or less range, with 827 originations. The second most popular income band? $50k-75k, with 739 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 645 $50,535,000 $78,349 $1,270 4.50%
    30-36% 523 $44,805,000 $85,669 $1,581 4.66%
    <20% 299 $20,475,000 $68,478 $1,452 4.40%
    >60% 158 $18,590,000 $117,658 $1,613 4.59%
    50-60% 112 $8,530,000 $76,161 $1,025 4.55%
    38% 88 $7,420,000 $84,318 $1,359 4.70%
    36% 84 $6,590,000 $78,452 $2,234 4.73%
    41% 79 $7,215,000 $91,329 $1,389 4.69%
    39% 78 $6,990,000 $89,615 $1,328 4.70%
    37% 74 $5,670,000 $76,622 $1,306 4.70%
    42% 68 $4,620,000 $67,941 $1,135 4.89%
    40% 67 $5,885,000 $87,836 $1,258 4.74%
    45% 60 $5,060,000 $84,333 $1,226 4.75%
    43% 59 $6,255,000 $106,017 $1,476 4.70%
    44% 48 $4,870,000 $101,458 $1,467 4.86%
    47% 45 $4,345,000 $96,556 $1,291 4.73%
    46% 38 $4,390,000 $115,526 $1,517 4.55%
    48% 32 $3,560,000 $111,250 $1,275 4.63%
    49% 30 $2,520,000 $84,000 $1,282 4.59%

    Covantage Credit Union lent most frequently to those with DTI ratios of 20-30%, with 645 originations. The next most common DTI ratio? 30-36%, with 523 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,252 $188,850,000 $83,859 $1,378 4.59%
    Not provided 278 $23,440,000 $84,317 $1,669 4.74%
    Not applicable 81 $16,765,000 $206,975 $189 4.92%
    Asian 30 $3,820,000 $127,333 $1,674 4.57%
    American Indian 27 $2,145,000 $79,444 $1,615 4.64%
    Black 2 $190,000 $95,000 $1,854 4.81%
    Other Asian 1 $185,000 $185,000 $0 5.00%
    Native Hawaiian 1 $35,000 $35,000 $1,044 4.63%
    Native Hawaiian or Islander 1 $35,000 $35,000 $1,637 5.88%

    Approval Rates

    Total approvals of all applications
    86.78%

    Covantage Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.89%

    Covantage Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 306 $10,660,000 $34,837
    NA 2,367 $224,805,000 $94,975

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $9,610,000 $961,000
    Single Family (1-4 Units):Manufactured 108 $7,130,000 $66,019
    Single Family (1-4 Units):Site-Built 2,555 $218,725,000 $85,607

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 433 $18,455,000 $42,621 $427 4.60%
    40-60% 282 $27,220,000 $96,525 $1,078 4.34%
    60-80% 813 $87,175,000 $107,226 $1,540 4.53%
    80-100% 736 $89,530,000 $121,644 $2,010 4.67%
    Over 100% 33 $3,555,000 $107,727 $7,001 4.83%
    Under 20% 375 $9,405,000 $25,080 $228 4.87%