Westconsin Credit Union Mortgage Rates, Fees & Info

Menomonie, WI

LEI: 254900X6OAHFW6BUT219

Tax ID: 39-0823125

5 stars - Updated: 6/16/24 - out of 5 stars, based on 34 reviews

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

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Mortgage Data

Review & Overview

Westconsin Credit Union is a smaller credit union specializing in Home Purchase and Home Improvement loans. Westconsin Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Eau Claire, Menomonie, Duluth, and Red Wing among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Westconsin 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. Westconsin 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 relatively high 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 6/16/24
30 Year Conventional Purchase 6.07% 6/16/24
30 Year Conventional Refi 6.09% 6/16/24
30 Year Cash-out Refi 6.12% 6/16/24
30 Year USDA Purchase 7.13% 6/16/24
15 Year Conventional Purchase 6.10% 6/16/24
15 Year Conventional Refi 5.89% 6/16/24
15 Year Cash-out Refi 5.89% 6/16/24
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.

Westconsin Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Westconsin 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

1,187

Origination Dollar Volume (All Markets)

$182,165,000
Show all (5) awards

Relative Rate

Westconsin Credit Union's average 30 year fixed mortgage rate was 7.81%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.33%.

Relative Fees (Closing Costs)

Westconsin Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,037.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 468 $77,760,000 $166,154 $1,936 7.71%
EAU CLAIRE, WI (FHA|USDA|VA) 229 $40,495,000 $176,834 $2,100 7.44%
Outside of Metro Areas 283 $34,555,000 $122,102 $2,034 7.59%
Menomonie, WI (FHA|USDA|VA) 184 $25,160,000 $136,739 $2,479 7.66%
DULUTH, MN-WI (FHA|USDA|VA) 7 $1,555,000 $222,143 $3,189 6.93%
Red Wing, MN (FHA|USDA|VA) 5 $645,000 $129,000 $730 6.83%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $600,000 $300,000 $3,387 6.06%
Manitowoc, WI (FHA|USDA|VA) 1 $305,000 $305,000 $3,261 7.25%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $255,000 $255,000 $2,699 5.50%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $230,000 $115,000 $3,106 7.25%
MADISON, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,326 7.63%
Marinette, WI-MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,766 7.50%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.06%
GREEN BAY, WI (FHA|USDA|VA) 1 $25,000 $25,000 $560 7.75%
Westconsin Credit Union's top markets include Minneapolis, Eau Claire, Menomonie, Duluth, and Red Wing among others.

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

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

    CO-OP Credit Union
    Similarity Rank: 28
    South Metro Federal Credit Union
    Similarity Rank: 55
    Security Financial Bank
    Similarity Rank: 56
    Prevail Bank
    Similarity Rank: 96
    MY Credit Union
    Similarity Rank: 225
    Cornerstone State Bank
    Similarity Rank: 456
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    Liberty Bank Minnesota
    Similarity Rank: 1166

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 761 $152,085,000 $199,849 $2,080 6.97%
    HELOC 425 $29,865,000 $70,271 n/a 8.76%
    USDA 1 $215,000 $215,000 $5,412 7.38%

    For 2023, Westconsin Credit Union's most frequently originated type of loan was Conventional, with 761 originations. Their 2nd most popular type was HELOC, with 425 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 374 $87,250,000 $233,289 $3,164 6.72%
    Home Improvement 338 $49,860,000 $147,515 $1,006 8.35%
    Cash Out Refi 222 $27,540,000 $124,054 $1,596 7.60%
    Other 211 $12,225,000 $57,938 $984 8.11%
    Refi 42 $5,290,000 $125,952 $1,919 7.13%

    For 2023, Westconsin Credit Union's most frequently cited loan purpose was Home Purchase, with 374 originations. The 2nd most popular reason was Home Improvement, with 338 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,003 $122,755,000 $122,388 $2,037 7.81%
    Other 95 $43,495,000 $457,842 $0 6.55%
    20 Year 37 $6,765,000 $182,838 $3,268 6.29%
    15 Year 21 $2,805,000 $133,571 $2,540 5.98%
    10 Year 15 $1,585,000 $105,667 $2,218 6.03%
    5 Year 12 $1,070,000 $89,167 $0 7.85%
    1 Year 3 $685,000 $228,333 $0 7.75%
    3 Year 1 $3,005,000 $3,005,000 $0 8.25%

    For 2023, Westconsin Credit Union's most frequently cited loan duration was 30 Year, with 1,003 originations. The 2nd most popular length was Other, with 95 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 542 $68,540,000 $126,458
    $1k-2k 53 $12,395,000 $233,868
    $2k-3k 19 $6,005,000 $316,053
    $3k-4k 8 $1,870,000 $233,750
    $4k-5k 8 $2,960,000 $370,000
    $5k+ 7 $2,715,000 $387,857

    Westconsin Credit Union's average total fees were $2,037, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 542 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 420 $29,100,000 $69,286
    7-8% 393 $39,085,000 $99,453
    6-7% 264 $89,510,000 $339,053
    5-6% 106 $23,450,000 $221,226
    4-5% 3 $835,000 $278,333
    <2.5% 1 $185,000 $185,000

    During 2023, Westconsin Credit Union's average interest rate for loans was 7.81%, while their most frequently originated rate bucket for loans was Over 8%, with 420 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 660 $33,110,000 $50,167 $999 8.17%
    $100k-200k 288 $40,000,000 $138,889 $2,328 7.11%
    $200k-400k 190 $51,350,000 $270,263 $3,334 6.70%
    $400k-600k 40 $18,650,000 $466,250 $4,538 6.52%
    $1MM+ 5 $36,235,000 $7,247,000 $0 6.81%
    $600k-1MM 4 $2,820,000 $705,000 $8,648 6.41%

    2023 saw Westconsin Credit Union place emphasis on $100,000 or less loans with 660 originations, totaling $33,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 314 $35,830,000 $114,108 $2,070 7.85%
    $75k-100k 238 $25,220,000 $105,966 $2,019 7.74%
    $50k-75k 199 $18,635,000 $93,643 $1,926 7.51%
    $150k-250k 166 $27,170,000 $163,675 $2,539 7.80%
    $50k or less 122 $8,280,000 $67,869 $1,701 7.66%
    $250k+ 29 $6,845,000 $236,034 $3,191 7.18%

    Westconsin Credit Union lent most frequently to those with incomes in the $100k-150k range, with 314 originations. The second most popular income band? $75k-100k, with 238 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 228 $24,670,000 $108,202 $2,155 7.72%
    30-36% 206 $23,590,000 $114,515 $2,039 7.70%
    42% 92 $9,160,000 $99,565 $1,483 7.70%
    41% 69 $7,505,000 $108,768 $1,678 7.82%
    <20% 59 $5,085,000 $86,186 $2,256 7.81%
    37% 53 $7,135,000 $134,623 $2,080 7.52%
    40% 48 $5,860,000 $122,083 $1,638 7.46%
    38% 47 $5,575,000 $118,617 $1,895 7.58%
    36% 47 $5,695,000 $121,170 $2,238 7.67%
    39% 42 $3,880,000 $92,381 $1,603 7.75%
    45% 26 $4,330,000 $166,538 $4,005 7.96%
    46% 25 $3,035,000 $121,400 $2,506 7.92%
    43% 24 $2,940,000 $122,500 $2,757 8.10%
    47% 22 $3,380,000 $153,636 $2,925 7.73%
    44% 18 $2,600,000 $144,444 $4,339 8.07%
    48% 18 $2,480,000 $137,778 $5,145 7.82%
    49% 18 $2,360,000 $131,111 $3,161 7.78%
    50-60% 8 $620,000 $77,500 $0 8.91%

    Westconsin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 228 originations. The next most common DTI ratio? 30-36%, with 206 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,014 $117,510,000 $115,888 $2,054 7.69%
    Not applicable 99 $56,705,000 $572,778 $0 6.55%
    Not provided 48 $5,230,000 $108,958 $2,409 8.17%
    Asian 10 $1,500,000 $150,000 $3,261 7.85%
    Black 7 $495,000 $70,714 $2,633 7.16%
    American Indian 4 $330,000 $82,500 $2,929 8.00%
    Native Hawaiian or Islander 3 $185,000 $61,667 $2,894 8.00%
    Filipino 1 $165,000 $165,000 $2,893 7.63%
    Other Asian 1 $45,000 $45,000 $685 7.13%

    Approval Rates

    Total approvals of all applications
    80.55%

    Westconsin Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.19%

    Westconsin Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,187 $182,165,000 $153,467

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,187 $182,165,000 $153,467

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 256 $23,260,000 $90,859 $1,180 7.92%
    40-60% 94 $17,750,000 $188,830 $2,461 6.95%
    60-80% 198 $74,740,000 $377,475 $3,176 6.58%
    80-100% 169 $41,585,000 $246,065 $3,298 6.69%
    Under 20% 467 $24,575,000 $52,623 $847 8.35%