Cloverbelt Credit Union Mortgage Rates, Fees & Info

Wausau, WI

LEI: 254900KOP6JY8A0DIV80

Tax ID: 39-0926186

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Cloverbelt Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Cloverbelt Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Stevens Point, Shawano, and Wisconsin Rapids among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cloverbelt Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Cloverbelt 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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    Originations

    207

    Origination Dollar Volume (All Markets)

    $27,265,000

    Awards

    Cloverbelt Credit Union 30 Year Conventional Loans gold Cloverbelt 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) 190 $24,810,000 $130,579 $1,290 4.62%
    Stevens Point, WI (FHA|USDA|VA) 6 $1,020,000 $170,000 $1,514 4.58%
    Shawano, WI (FHA|USDA|VA) 6 $770,000 $128,333 $974 4.58%
    Outside of Metro Areas 4 $640,000 $160,000 $1,437 4.75%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $25,000 $25,000 $1,469 4.75%
    Cloverbelt Credit Union's top markets include Wausau, Stevens Point, Shawano, and Wisconsin Rapids among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cloverbelt Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Prevail Bank
    Similarity Rank: 27
    Cloverbelt Credit Union
    Similarity Rank: 85
    AbbyBank
    Similarity Rank: 110
    Peoples State Bank
    Similarity Rank: 306
    CoVantage Credit Union
    Similarity Rank: 315
    University of Wisconsin Credit Union
    Similarity Rank: 486
    IncredibleBank
    Similarity Rank: 696
    Nicolet National Bank
    Similarity Rank: 1000
    Connexus Credit Union
    Similarity Rank: 1136
    Bank Five Nine
    Similarity Rank: 1184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 207 $27,265,000 $131,715 $1,291 4.62%

    For 2018, Cloverbelt Credit Union's most frequently originated type of loan was Conventional, with 207 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $11,615,000 $133,506 $1,811 4.62%
    Cash Out Refi 68 $9,420,000 $138,529 $967 4.64%
    Refi 38 $4,830,000 $127,105 $835 4.55%
    Home Improvement 14 $1,400,000 $100,000 $876 4.71%

    For 2018, Cloverbelt Credit Union's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Cash Out Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 62 $9,720,000 $156,774 $1,633 4.73%
    20 Year 39 $5,555,000 $142,436 $1,291 4.66%
    15 Year 31 $4,235,000 $136,613 $1,126 4.44%
    10 Year 30 $2,400,000 $80,000 $891 4.55%
    30 Year 27 $3,875,000 $143,519 $1,372 4.76%
    5 Year 17 $1,235,000 $72,647 $969 4.39%
    1 Year 1 $245,000 $245,000 $499 4.50%

    For 2018, Cloverbelt Credit Union's most frequently cited loan duration was Other, with 62 originations. The 2nd most popular length was 20 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 207 $27,265,000 $131,715

    Cloverbelt Credit Union's average total fees were $1,372, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 207 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 139 $19,305,000 $138,885
    5-6% 34 $3,300,000 $97,059
    3-4% 33 $4,605,000 $139,545
    6-7% 1 $55,000 $55,000

    During 2018, Cloverbelt Credit Union's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 139 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 86 $5,460,000 $63,488 $1,079 4.65%
    $100k-200k 83 $11,115,000 $133,916 $1,437 4.61%
    $200k-400k 35 $8,965,000 $256,143 $1,438 4.63%
    $400k-600k 2 $920,000 $460,000 $2,196 4.13%
    $600k-1MM 1 $805,000 $805,000 $524 3.75%

    2018 saw Cloverbelt Credit Union place emphasis on $100,000 or less loans with 86 originations, totaling $5,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 53 $5,845,000 $110,283 $1,268 4.67%
    $50k or less 53 $4,085,000 $77,075 $1,213 4.75%
    $75k-100k 49 $6,835,000 $139,490 $1,381 4.57%
    $100k-150k 36 $6,330,000 $175,833 $1,303 4.53%
    $150k-250k 8 $1,850,000 $231,250 $1,397 4.47%
    $250k+ 4 $1,860,000 $465,000 $1,523 4.00%

    Cloverbelt Credit Union lent most frequently to those with incomes in the $50k-75k range, with 53 originations. The second most popular income band? $50k or less, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 63 $7,135,000 $113,254 $1,295 4.61%
    20-30% 57 $6,845,000 $120,088 $1,260 4.55%
    <20% 28 $3,390,000 $121,071 $1,073 4.70%
    38% 18 $3,120,000 $173,333 $1,507 4.62%
    37% 17 $2,775,000 $163,235 $1,507 4.79%
    36% 17 $3,095,000 $182,059 $1,324 4.60%
    42% 4 $450,000 $112,500 $1,548 4.53%
    39% 2 $390,000 $195,000 $810 4.50%
    40% 1 $65,000 $65,000 $749 5.50%

    Cloverbelt Credit Union lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $26,570,000 $132,850 $1,292 4.61%
    Not applicable 3 $355,000 $118,333 $1,057 4.92%
    Asian 3 $285,000 $95,000 $1,711 5.46%
    Black 1 $55,000 $55,000 $499 4.00%

    Approval Rates

    Total approvals of all applications
    87.92%

    Cloverbelt Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.65%

    Cloverbelt Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 207 $27,265,000 $131,715

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $805,000 $115,000
    Single Family (1-4 Units):Site-Built 200 $26,460,000 $132,300

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $985,000 $57,941 $875 4.53%
    40-60% 19 $1,875,000 $98,684 $1,045 4.38%
    60-80% 63 $8,375,000 $132,937 $1,202 4.72%
    80-100% 101 $15,825,000 $156,683 $1,500 4.59%
    Under 20% 7 $205,000 $29,286 $763 5.07%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Caliver Beach Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%