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

Jump to:

Mortgage Data

Review & Overview

Cloverbelt Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Cloverbelt Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Stevens Point, Shawano, Wisconsin Rapids, and Appleton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

303

Origination Dollar Volume (All Markets)

$41,815,000

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) 267 $35,945,000 $134,625 $0 0.00%
Outside of Metro Areas 14 $3,000,000 $214,286 $0 0.00%
Stevens Point, WI (FHA|USDA|VA) 8 $1,410,000 $176,250 $0 0.00%
Shawano, WI (FHA|USDA|VA) 9 $985,000 $109,444 $0 0.00%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 3 $195,000 $65,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Menomonie, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Cloverbelt Credit Union's top markets include Wausau, Stevens Point, Shawano, Wisconsin Rapids, and Appleton 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.

    AbbyBank
    Similarity Rank: 112
    Prevail Bank
    Similarity Rank: 114
    Forward Bank
    Similarity Rank: 132
    Peoples State Bank
    Similarity Rank: 420
    CoVantage Credit Union
    Similarity Rank: 800
    IncredibleBank
    Similarity Rank: 828
    Bank Five Nine
    Similarity Rank: 1188
    Associated Bank
    Similarity Rank: 1540
    Nicolet National Bank
    Similarity Rank: 2214

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 303 $41,815,000 $138,003 $0 0.00%

    For 2022, Cloverbelt Credit Union's most frequently originated type of loan was Conventional, with 303 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 164 $22,280,000 $135,854 $0 0.00%
    Home Purchase 80 $12,910,000 $161,375 $0 0.00%
    Home Improvement 35 $3,705,000 $105,857 $0 0.00%
    Refi 24 $2,920,000 $121,667 $0 0.00%

    For 2022, Cloverbelt Credit Union's most frequently cited loan purpose was Cash Out Refi, with 164 originations. The 2nd most popular reason was Home Purchase, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 303 $41,815,000 $138,003 $0 0.00%

    For 2022, Cloverbelt Credit Union's most frequently cited loan duration was Other, with 303 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 121 $6,695,000 $55,331 $0 0.00%
    $100k-200k 119 $17,055,000 $143,319 $0 0.00%
    $200k-400k 56 $14,350,000 $256,250 $0 0.00%
    $400k-600k 5 $2,165,000 $433,000 $0 0.00%
    $600k-1MM 2 $1,550,000 $775,000 $0 0.00%

    2022 saw Cloverbelt Credit Union place emphasis on $100,000 or less loans with 121 originations, totaling $6,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 85 $9,895,000 $116,412 $0 0.00%
    $50k-75k 78 $9,010,000 $115,513 $0 0.00%
    $100k-150k 60 $9,990,000 $166,500 $0 0.00%
    $50k or less 44 $3,940,000 $89,545 $0 0.00%
    $150k-250k 24 $5,610,000 $233,750 $0 0.00%
    $250k+ 11 $3,295,000 $299,545 $0 0.00%

    Cloverbelt Credit Union lent most frequently to those with incomes in the $75k-100k range, with 85 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 303 $41,815,000 $138,003 $0 0.00%

    Cloverbelt Credit Union lent most frequently to those with DTI ratios of Exempt%, with 303 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 295 $41,035,000 $139,102 $0 0.00%
    Asian 4 $540,000 $135,000 $0 0.00%
    Not provided 3 $165,000 $55,000 $0 0.00%
    Not applicable 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.36%

    Cloverbelt 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
    99.01%

    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
    Exempt 303 $41,815,000 $138,003

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    303 $41,815,000 $138,003

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Caliber Home Loans, Inc. Conventional home mortgage Struggling to pay mortgage 1 10.0%
    Caliber Home Loans, Inc. Conventional home mortgage Trouble during payment process 3 30.0%
    Caliber Home Loans, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 20.0%
    Caliber Home Loans, Inc. FHA mortgage Trouble during payment process 2 20.0%
    Caliber Home Loans, Inc. VA mortgage Trouble during payment process 2 20.0%