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

Jump to:

  • 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 Refi, Cash Out Refi, and Home Purchase 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 Appleton among others. We have data for 35 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 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

    5,211

    Origination Dollar Volume (All Markets)

    $663,125,000

    Awards

    CoVantage Credit Union 30 Year Conventional Loans silver CoVantage Credit Union 30 Year Conventional Loans gold
    Show all (2) 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) 1,636 $215,890,000 $131,962 $1,858 3.39%
    Outside of Metro Areas 1,617 $175,035,000 $108,247 $1,758 3.42%
    Shawano, WI (FHA|USDA|VA) 787 $84,575,000 $107,465 $1,771 3.46%
    Stevens Point, WI (FHA|USDA|VA) 332 $50,390,000 $151,777 $1,796 3.37%
    GREEN BAY, WI (FHA|USDA|VA) 334 $44,250,000 $132,485 $1,834 3.38%
    APPLETON, WI (FHA|USDA|VA) 129 $40,965,000 $317,558 $1,928 3.30%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 74 $9,260,000 $125,135 $1,893 3.25%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 27 $9,035,000 $334,630 $2,194 3.52%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 70 $8,840,000 $126,286 $1,696 3.40%
    Marinette, WI-MI (FHA|USDA|VA) 91 $8,755,000 $96,209 $1,797 3.46%
    Iron Mountain, MI-WI (FHA|USDA|VA) 37 $3,865,000 $104,459 $2,093 3.54%
    MADISON, WI (FHA|USDA|VA) 17 $3,345,000 $196,765 $1,970 2.91%
    Whitewater, WI (FHA|USDA|VA) 4 $860,000 $215,000 $2,247 3.03%
    Beaver Dam, WI (FHA|USDA|VA) 5 $735,000 $147,000 $1,754 3.65%
    SHEBOYGAN, WI (FHA|USDA|VA) 4 $730,000 $182,500 $2,592 3.24%
    EAU CLAIRE, WI (FHA|USDA|VA) 6 $710,000 $118,333 $1,939 3.27%
    FOND DU LAC, WI (FHA|USDA|VA) 6 $600,000 $100,000 $2,044 3.14%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $510,000 $255,000 $1,496 4.13%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $500,000 $250,000 $1,878 2.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $490,000 $245,000 $4,253 2.62%
    Escanaba, MI (FHA|USDA|VA) 4 $450,000 $112,500 $2,606 3.28%
    Ottawa, IL (FHA|USDA|VA) 1 $445,000 $445,000 $0 4.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $400,000 $200,000 $1,474 3.63%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $385,000 $385,000 $2,911 2.88%
    Manitowoc, WI (FHA|USDA|VA) 5 $335,000 $67,000 $1,415 3.41%
    FLINT, MI (FHA|USDA|VA) 2 $310,000 $155,000 $1,876 3.06%
    Baraboo, WI (FHA|USDA|VA) 1 $285,000 $285,000 $1,934 3.00%
    RACINE, WI (FHA|USDA|VA) 2 $280,000 $140,000 $1,304 3.06%
    Menomonie, WI (FHA|USDA|VA) 2 $210,000 $105,000 $1,329 3.06%
    Marquette, MI (FHA|USDA|VA) 2 $150,000 $75,000 $2,769 3.88%
    MUSKEGON, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,058 3.25%
    Holland, MI (FHA|USDA|VA) 1 $115,000 $115,000 $3,478 3.50%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,063 3.25%
    Platteville, WI (FHA|USDA|VA) 1 $85,000 $85,000 $3,943 3.00%
    Houghton, MI (FHA|USDA|VA) 3 $75,000 $25,000 $1,310 3.96%
    Covantage Credit Union's top markets include Wausau, Shawano, Stevens Point, Green Bay, and Appleton among others.

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

    Brokaw Credit Union
    Similarity Rank: 35
    The Bank of Kaukauna
    Similarity Rank: 112
    The Greenwood's State Bank
    Similarity Rank: 432
    Hometown Bank
    Similarity Rank: 432
    Empower Credit Union
    Similarity Rank: 459
    UNISON CREDIT UNION
    Similarity Rank: 595
    Westbury Bank
    Similarity Rank: 612
    Range Bank
    Similarity Rank: 700
    Horicon Bank
    Similarity Rank: 700
    Prevail Bank
    Similarity Rank: 702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,585 $634,505,000 $138,387 $1,801 3.26%
    HELOC 600 $25,300,000 $42,167 n/a 4.53%
    USDA 26 $3,320,000 $127,692 $3,981 3.00%

    For 2020, Covantage Credit Union's most frequently originated type of loan was Conventional, with 4,585 originations. Their 2nd most popular type was HELOC, with 600 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,034 $289,990,000 $142,571 $1,552 3.13%
    Cash Out Refi 1,608 $205,690,000 $127,917 $1,564 3.35%
    Home Purchase 1,103 $151,855,000 $137,675 $2,699 3.43%
    Other 458 $14,250,000 $31,114 $212 4.75%
    Home Improvement 8 $1,340,000 $167,500 $4,619 4.33%

    For 2020, Covantage Credit Union's most frequently cited loan purpose was Refi, with 2,034 originations. The 2nd most popular reason was Cash Out Refi, with 1,608 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,044 $313,900,000 $153,571 $2,176 3.38%
    Other 1,208 $135,590,000 $112,243 $1,366 3.04%
    10 Year 796 $39,930,000 $50,163 $1,046 4.25%
    15 Year 648 $84,470,000 $130,355 $1,768 3.03%
    20 Year 467 $85,495,000 $183,073 $1,769 3.48%
    5 Year 33 $2,065,000 $62,576 $670 4.14%
    1 Year 10 $1,230,000 $123,000 $0 3.48%
    3 Year 5 $445,000 $89,000 $0 3.90%

    For 2020, Covantage Credit Union's most frequently cited loan duration was 30 Year, with 2,044 originations. The 2nd most popular length was Other, with 1,208 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,335 $572,425,000 $132,047
    $1k-2k 24 $2,480,000 $103,333
    $2k-3k 16 $3,150,000 $196,875
    $3k-4k 4 $1,100,000 $275,000
    $4k-5k 2 $760,000 $380,000
    $5k+ 1 $465,000 $465,000

    Covantage Credit Union's average total fees were $2,176, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,335 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,228 $305,010,000 $136,899
    2.5-3% 1,814 $250,610,000 $138,153
    4-5% 590 $51,420,000 $87,153
    <2.5% 391 $49,065,000 $125,486
    6-7% 95 $2,905,000 $30,579
    5-6% 78 $3,640,000 $46,667
    7-8% 15 $475,000 $31,667

    During 2020, Covantage Credit Union's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 2,228 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,344 $133,180,000 $56,817 $1,577 3.66%
    $100k-200k 2,111 $297,915,000 $141,125 $1,899 3.21%
    $200k-400k 702 $180,720,000 $257,436 $2,071 3.16%
    $400k-600k 41 $18,025,000 $439,634 $3,248 3.18%
    $600k-1MM 7 $4,995,000 $713,571 $3,075 3.41%
    $1MM+ 6 $28,290,000 $4,715,000 $0 3.71%

    2020 saw Covantage Credit Union place emphasis on $100,000 or less loans with 2,344 originations, totaling $133,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,395 $153,575,000 $110,090 $1,826 3.40%
    $50k or less 1,322 $110,640,000 $83,691 $1,833 3.44%
    $75k-100k 962 $122,470,000 $127,308 $1,758 3.39%
    $100k-150k 920 $140,440,000 $152,652 $1,792 3.37%
    $150k-250k 347 $65,095,000 $187,594 $1,849 3.29%
    $250k+ 85 $19,125,000 $225,000 $2,144 3.37%

    Covantage Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,395 originations. The second most popular income band? $50k or less, with 1,322 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,387 $172,555,000 $124,409 $1,814 3.29%
    30-36% 932 $117,190,000 $125,740 $1,863 3.40%
    <20% 649 $70,195,000 $108,159 $1,719 3.21%
    50-60% 190 $21,220,000 $111,684 $1,688 3.67%
    39% 164 $21,510,000 $131,159 $1,860 3.32%
    37% 156 $17,360,000 $111,282 $1,886 3.52%
    38% 149 $17,835,000 $119,698 $1,815 3.53%
    36% 146 $18,090,000 $123,904 $1,867 3.41%
    42% 143 $17,465,000 $122,133 $1,909 3.58%
    40% 132 $15,110,000 $114,470 $1,808 3.62%
    >60% 123 $13,925,000 $113,211 $1,620 3.56%
    41% 120 $14,720,000 $122,667 $1,730 3.75%
    43% 117 $15,515,000 $132,607 $1,886 3.49%
    44% 116 $12,200,000 $105,172 $1,795 3.48%
    46% 100 $13,890,000 $138,900 $1,889 3.58%
    45% 90 $11,180,000 $124,222 $2,030 3.45%
    47% 66 $9,270,000 $140,455 $1,797 3.40%
    49% 63 $7,865,000 $124,841 $1,841 3.37%
    48% 60 $7,180,000 $119,667 $1,719 3.35%

    Covantage Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,387 originations. The next most common DTI ratio? 30-36%, with 932 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,062 $499,970,000 $123,085 $1,825 3.39%
    Not provided 833 $93,975,000 $112,815 $1,732 3.42%
    Not applicable 175 $51,485,000 $294,200 $0 3.76%
    Asian 71 $10,025,000 $141,197 $2,030 3.35%
    American Indian 51 $5,345,000 $104,804 $1,868 3.68%
    Other Asian 7 $915,000 $130,714 $1,946 3.48%
    Black 5 $675,000 $135,000 $1,441 3.30%
    Native Hawaiian or Islander 5 $405,000 $81,000 $2,215 3.53%
    Asian Indian 1 $255,000 $255,000 $0 4.00%
    Korean 1 $75,000 $75,000 $2,584 4.38%

    Approval Rates

    Total approvals of all applications
    95.04%

    Covantage 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 origination
    76.07%

    Covantage Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 588 $24,530,000 $41,718
    NA 4,623 $638,595,000 $138,134

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 22 $12,970,000 $589,545
    Single Family (1-4 Units):Manufactured 172 $13,790,000 $80,174
    Single Family (1-4 Units):Site-Built 5,017 $636,365,000 $126,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 457 $27,035,000 $59,158 $1,274 3.82%
    40-60% 717 $80,685,000 $112,531 $1,643 3.10%
    60-80% 2,207 $311,635,000 $141,203 $1,714 3.22%
    80-100% 1,379 $198,725,000 $144,108 $2,225 3.37%
    Over 100% 56 $35,250,000 $629,464 $2,618 3.77%
    Under 20% 395 $9,795,000 $24,797 $501 4.57%