Westconsin Credit Union Mortgage Rates, Fees & Info

Menomonie, WI

LEI: 254900X6OAHFW6BUT219

Tax ID: 39-0823125

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Westconsin Credit Union is a smaller credit union specializing in Home Purchase 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, Wausau, and Red Wing among others. We have data for 15 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 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% 11/22/24
    30 Year Conventional Purchase 6.07% 11/22/24
    30 Year Conventional Refi 6.09% 11/22/24
    30 Year Cash-out Refi 6.12% 11/22/24
    30 Year USDA Purchase 7.13% 11/22/24
    15 Year Conventional Purchase 6.10% 11/22/24
    15 Year Conventional Refi 5.89% 11/22/24
    15 Year Cash-out Refi 5.89% 11/22/24
    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

    1,714

    Origination Dollar Volume (All Markets)

    $213,750,000
    Show all (6) 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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 767 $96,375,000 $125,652 $2,397 4.92%
    EAU CLAIRE, WI (FHA|USDA|VA) 226 $42,760,000 $189,204 $2,484 4.89%
    Outside of Metro Areas 419 $42,265,000 $100,871 $2,281 4.89%
    Menomonie, WI (FHA|USDA|VA) 279 $29,355,000 $105,215 $2,352 4.88%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 4 $590,000 $147,500 $2,195 4.38%
    Red Wing, MN (FHA|USDA|VA) 5 $515,000 $103,000 $2,687 4.68%
    ROCHESTER, MN (FHA|USDA|VA) 3 $435,000 $145,000 $3,869 5.42%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $400,000 $200,000 $2,696 4.25%
    Stevens Point, WI (FHA|USDA|VA) 2 $240,000 $120,000 $2,359 4.44%
    Grand Rapids, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,776 4.88%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,103 4.63%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $155,000 $155,000 $2,211 4.63%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,269 5.13%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $80,000 $40,000 $1,656 4.94%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,924 5.13%
    Westconsin Credit Union's top markets include Minneapolis, Eau Claire, Menomonie, Wausau, and Red Wing among others.

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

    Prevail Bank
    Similarity Rank: 27
    United Bank a division of Citizens Community Federal N A
    Similarity Rank: 44
    CO-OP Credit Union
    Similarity Rank: 144
    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    Liberty Bank Minnesota
    Similarity Rank: 1080
    WESTconsin Credit Union
    Similarity Rank: 1110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,171 $187,015,000 $159,705 $2,354 4.71%
    HELOC 525 $24,075,000 $45,857 n/a 5.33%
    USDA 18 $2,660,000 $147,778 $3,671 4.89%

    For 2018, Westconsin Credit Union's most frequently originated type of loan was Conventional, with 1,171 originations. Their 2nd most popular type was HELOC, with 525 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 755 $127,355,000 $168,682 $2,858 4.66%
    Home Improvement 370 $17,180,000 $46,432 $915 5.39%
    Other 309 $17,865,000 $57,816 $1,427 5.23%
    Cash Out Refi 200 $40,430,000 $202,150 $1,981 4.54%
    Refi 80 $10,920,000 $136,500 $1,936 4.50%

    For 2018, Westconsin Credit Union's most frequently cited loan purpose was Home Purchase, with 755 originations. The 2nd most popular reason was Home Improvement, with 370 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,433 $163,235,000 $113,911 $2,434 4.97%
    20 Year 99 $12,485,000 $126,111 $2,379 4.84%
    15 Year 98 $13,560,000 $138,367 $2,067 4.24%
    10 Year 46 $5,530,000 $120,217 $1,777 3.98%
    Other 36 $18,770,000 $521,389 $0 5.22%
    1 Year 1 $145,000 $145,000 $0 4.50%
    5 Year 1 $25,000 $25,000 $0 9.25%

    For 2018, Westconsin Credit Union's most frequently cited loan duration was 30 Year, with 1,433 originations. The 2nd most popular length was 20 Year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 820 $107,150,000 $130,671
    $1k-2k 184 $38,440,000 $208,913
    $2k-3k 39 $7,505,000 $192,436
    $3k-4k 20 $4,340,000 $217,000
    $4k-5k 10 $2,670,000 $267,000
    $5k+ 10 $3,110,000 $311,000

    Westconsin Credit Union's average total fees were $2,434, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 820 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,025 $131,505,000 $128,298
    5-6% 352 $27,500,000 $78,125
    3-4% 189 $47,775,000 $252,778
    6-7% 147 $6,945,000 $47,245
    Over 8% 1 $25,000 $25,000

    During 2018, Westconsin Credit Union's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 4-5%, with 1,025 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 871 $42,995,000 $49,363 $1,483 5.23%
    $100k-200k 555 $80,695,000 $145,396 $2,442 4.61%
    $200k-400k 272 $70,140,000 $257,868 $3,267 4.47%
    $400k-600k 12 $5,480,000 $456,667 $4,898 4.06%
    $1MM+ 2 $13,090,000 $6,545,000 $0 4.00%
    $600k-1MM 2 $1,350,000 $675,000 $0 5.25%

    2018 saw Westconsin Credit Union place emphasis on $100,000 or less loans with 871 originations, totaling $42,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 422 $45,270,000 $107,275 $2,259 4.85%
    $100k-150k 374 $48,180,000 $128,824 $2,471 4.91%
    $75k-100k 350 $43,870,000 $125,343 $2,569 4.86%
    $50k or less 334 $28,800,000 $86,228 $2,128 4.89%
    $150k-250k 134 $19,490,000 $145,448 $2,746 5.05%
    $250k+ 20 $4,750,000 $237,500 $2,623 4.78%

    Westconsin Credit Union lent most frequently to those with incomes in the $50k-75k range, with 422 originations. The second most popular income band? $100k-150k, with 374 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 375 $42,575,000 $113,533 $2,367 4.73%
    30-36% 347 $42,765,000 $123,242 $2,303 4.86%
    <20% 109 $8,595,000 $78,853 $2,253 4.72%
    42% 92 $10,450,000 $113,587 $2,072 5.17%
    40% 80 $9,320,000 $116,500 $2,412 5.03%
    38% 65 $6,935,000 $106,692 $2,084 5.01%
    41% 60 $9,260,000 $154,333 $2,766 4.94%
    50-60% 59 $3,165,000 $53,644 $2,335 5.27%
    39% 56 $7,670,000 $136,964 $2,339 4.81%
    47% 54 $6,600,000 $122,222 $2,461 4.92%
    36% 48 $4,910,000 $102,292 $2,511 5.09%
    37% 45 $5,725,000 $127,222 $2,732 4.99%
    46% 43 $6,065,000 $141,047 $2,417 4.77%
    45% 40 $5,170,000 $129,250 $2,442 4.83%
    49% 38 $5,660,000 $148,947 $2,518 4.75%
    44% 35 $4,415,000 $126,143 $3,127 5.09%
    48% 34 $4,410,000 $129,706 $2,487 4.68%
    43% 33 $4,245,000 $128,636 $2,475 4.79%
    >60% 6 $450,000 $75,000 $0 5.17%

    Westconsin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 375 originations. The next most common DTI ratio? 30-36%, with 347 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,501 $175,725,000 $117,072 $2,373 4.88%
    Not applicable 55 $20,615,000 $374,818 $0 5.20%
    Not provided 145 $15,515,000 $107,000 $2,441 4.99%
    American Indian 6 $1,030,000 $171,667 $2,653 5.21%
    Asian 4 $490,000 $122,500 $1,494 4.03%
    Black 3 $375,000 $125,000 $3,134 5.08%

    Approval Rates

    Total approvals of all applications
    84.78%

    Westconsin Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.52%

    Westconsin Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,714 $213,750,000 $124,708

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $15,035,000 $1,670,556
    Single Family (1-4 Units):Manufactured 68 $5,250,000 $77,206
    Single Family (1-4 Units):Site-Built 1,637 $193,465,000 $118,183

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 261 $16,975,000 $65,038 $1,212 5.18%
    40-60% 168 $31,110,000 $185,179 $1,903 4.60%
    60-80% 354 $58,300,000 $164,689 $2,589 4.54%
    80-100% 523 $92,485,000 $176,836 $2,812 4.65%
    Under 20% 396 $14,110,000 $35,631 $672 5.49%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 1 50.0%
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Incorrect information on your report 1 50.0%