Brokaw Credit Union Mortgage Rates, Fees & Info
Weston, WILEI: 254900F5ZZOQMXYF0M92
Tax ID: 39-0936429
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Brokaw Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Brokaw Credit Union has a high proportion of conventional loans. Their top two markets are Wausau and Shawano .Brokaw 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. Brokaw 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 | 7.86% | 5/4/24 |
| 30 Year Conventional Refi | 6.29% | 5/4/24 |
| 30 Year Cash-out Refi | 6.73% | 5/4/24 |
| 15 Year Conventional Purchase | 6.02% | 5/4/24 |
| 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. | ||
Brokaw Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
22Origination Dollar Volume (All Markets)
$1,760,000Top 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 |
|---|---|---|---|---|---|
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 21 | $1,665,000 | $79,286 | $820 | 4.49% |
| Shawano, WI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $226 | 5.40% |
Similar Lenders
We use machine learning to identify the top lenders compared against Brokaw 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 | 22 | $1,760,000 | $80,000 | $793 | 4.54% |
For 2018, Brokaw Credit Union's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2018, Brokaw Credit Union's most frequently cited loan purpose was Cash Out Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
Loan Duration/Length
For 2018, Brokaw Credit Union's most frequently cited loan duration was Other, with 8 originations. The 2nd most popular length was 30 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 22 | $1,760,000 | $80,000 |
Brokaw Credit Union's average total fees were $1,715, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 9 | $525,000 | $58,333 |
| 4-5% | 9 | $915,000 | $101,667 |
| 5-6% | 3 | $245,000 | $81,667 |
| 6-7% | 1 | $75,000 | $75,000 |
During 2018, Brokaw Credit Union's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 3-4%, with 9 originations.
Loan Sizing
2018 saw Brokaw Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $800,000 in origination value.
Applicant Income
Brokaw Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
Brokaw Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $1,760,000 | $80,000 | $793 | 4.54% |
Approval Rates
Total approvals of all applications90.91%
Brokaw Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination68.18%
Brokaw Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 22 | $1,760,000 | $80,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $105,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 21 | $1,655,000 | $78,810 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Brock & Scott, PLLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 60.0% |
| Brock & Scott, PLLC | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| Brock & Scott, PLLC | Other type of mortgage | Struggling to pay mortgage | 1 | 20.0% |