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 and Cash Out Refi loans. Westconsin Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Minneapolis, Menomonie, Eau Claire, Madison, and Oshkosh among others. We have data for 16 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

    2,102

    Origination Dollar Volume (All Markets)

    $279,660,000
    Show all (5) 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) 933 $138,125,000 $148,044 $2,316 4.58%
    Outside of Metro Areas 516 $56,680,000 $109,845 $2,119 4.49%
    Menomonie, WI (FHA|USDA|VA) 349 $43,855,000 $125,659 $2,043 4.55%
    EAU CLAIRE, WI (FHA|USDA|VA) 286 $38,520,000 $134,685 $2,088 4.49%
    MADISON, WI (FHA|USDA|VA) 3 $515,000 $171,667 $2,584 4.38%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $425,000 $141,667 $2,411 4.00%
    Fairmont, MN (FHA|USDA|VA) 1 $295,000 $295,000 $2,757 3.63%
    APPLETON, WI (FHA|USDA|VA) 1 $255,000 $255,000 $1,717 3.50%
    Red Wing, MN (FHA|USDA|VA) 3 $245,000 $81,667 $2,442 4.58%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,272 3.50%
    Owatonna, MN (FHA|USDA|VA) 1 $145,000 $145,000 $2,642 3.38%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $135,000 $135,000 $3,826 4.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,360 4.88%
    Albert Lea, MN (FHA|USDA|VA) 1 $85,000 $85,000 $2,042 3.25%
    Bemidji, MN (FHA|USDA|VA) 1 $75,000 $75,000 $2,279 5.75%
    Stevens Point, WI (FHA|USDA|VA) 1 $35,000 $35,000 $1,903 5.25%
    Westconsin Credit Union's top markets include Minneapolis, Menomonie, Eau Claire, Madison, and Oshkosh 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.

    Prevail Bank
    Similarity Rank: 48
    CO-OP Credit Union
    Similarity Rank: 204
    Citizens State Bank of La Crosse
    Similarity Rank: 406
    ST. CLOUD FINANCIAL
    Similarity Rank: 978
    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    IDEAL
    Similarity Rank: 1221
    Liberty Bank Minnesota
    Similarity Rank: 1344
    SPIRE Credit Union
    Similarity Rank: 1368
    WESTconsin Credit Union
    Similarity Rank: 1504

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,567 $252,355,000 $161,043 $2,165 4.13%
    HELOC 515 $24,055,000 $46,709 n/a 5.79%
    USDA 19 $3,205,000 $168,684 $4,038 4.18%
    FHA 1 $45,000 $45,000 $0 6.40%

    For 2019, Westconsin Credit Union's most frequently originated type of loan was Conventional, with 1,567 originations. Their 2nd most popular type was HELOC, with 515 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 694 $125,660,000 $181,066 $2,781 4.22%
    Cash Out Refi 596 $79,370,000 $133,171 $2,066 4.31%
    Home Improvement 308 $12,540,000 $40,714 $766 5.75%
    Refi 271 $50,215,000 $185,295 $1,816 3.67%
    Other 233 $11,875,000 $50,966 $966 5.49%

    For 2019, Westconsin Credit Union's most frequently cited loan purpose was Home Purchase, with 694 originations. The 2nd most popular reason was Cash Out Refi, with 596 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,601 $201,325,000 $125,750 $2,264 4.78%
    15 Year 222 $32,310,000 $145,541 $2,009 3.49%
    20 Year 118 $18,280,000 $154,915 $2,374 4.40%
    10 Year 113 $13,065,000 $115,619 $1,662 3.09%
    Other 42 $14,110,000 $335,952 $0 5.23%
    1 Year 5 $505,000 $101,000 $0 5.32%
    5 Year 1 $65,000 $65,000 $0 5.65%

    For 2019, Westconsin Credit Union's most frequently cited loan duration was 30 Year, with 1,601 originations. The 2nd most popular length was 15 Year, with 222 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,124 $154,080,000 $137,082
    $1k-2k 240 $53,090,000 $221,208
    $2k-3k 67 $13,895,000 $207,388
    $3k-4k 25 $5,595,000 $223,800
    $4k-5k 12 $3,340,000 $278,333
    $5k+ 7 $2,205,000 $315,000

    Westconsin Credit Union's average total fees were $2,264, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 734 $134,260,000 $182,916
    4-5% 567 $78,755,000 $138,898
    5-6% 440 $33,920,000 $77,091
    6-7% 213 $9,405,000 $44,155
    2.5-3% 148 $23,320,000 $157,568

    During 2019, Westconsin Credit Union's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 3-4%, with 734 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 944 $48,060,000 $50,911 $1,407 5.22%
    $100k-200k 730 $105,290,000 $144,233 $2,250 4.04%
    $200k-400k 390 $102,940,000 $263,949 $2,874 3.90%
    $400k-600k 31 $14,025,000 $452,419 $3,509 3.60%
    $1MM+ 4 $6,810,000 $1,702,500 $3,897 4.53%
    $600k-1MM 3 $2,535,000 $845,000 $0 4.55%

    2019 saw Westconsin Credit Union place emphasis on $100,000 or less loans with 944 originations, totaling $48,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 505 $74,315,000 $147,158 $2,280 4.64%
    $50k-75k 500 $57,420,000 $114,840 $2,191 4.47%
    $75k-100k 409 $54,055,000 $132,164 $2,258 4.53%
    $50k or less 371 $32,395,000 $87,318 $1,994 4.44%
    $150k-250k 185 $31,325,000 $169,324 $2,215 4.54%
    $250k+ 33 $8,475,000 $256,818 $2,139 4.36%

    Westconsin Credit Union lent most frequently to those with incomes in the $100k-150k range, with 505 originations. The second most popular income band? $50k-75k, with 500 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 501 $59,365,000 $118,493 $2,173 4.49%
    30-36% 429 $56,355,000 $131,364 $2,150 4.52%
    <20% 157 $18,695,000 $119,076 $1,986 4.23%
    41% 109 $14,555,000 $133,532 $2,147 4.43%
    42% 106 $12,640,000 $119,245 $1,793 4.79%
    40% 94 $13,760,000 $146,383 $2,295 4.53%
    37% 83 $11,735,000 $141,386 $2,445 4.34%
    39% 80 $9,960,000 $124,500 $2,141 4.58%
    38% 75 $9,695,000 $129,267 $2,043 4.58%
    44% 64 $10,120,000 $158,125 $2,570 4.12%
    36% 60 $8,310,000 $138,500 $2,435 4.53%
    43% 46 $6,230,000 $135,435 $2,076 4.29%
    45% 38 $5,010,000 $131,842 $2,324 4.50%
    48% 38 $4,930,000 $129,737 $2,024 4.66%
    47% 34 $6,110,000 $179,706 $3,288 4.49%
    49% 32 $5,140,000 $160,625 $2,827 4.40%
    46% 32 $4,280,000 $133,750 $2,177 4.72%
    50-60% 26 $1,340,000 $51,538 $0 5.67%
    >60% 5 $225,000 $45,000 $0 5.80%

    Westconsin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 501 originations. The next most common DTI ratio? 30-36%, with 429 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,836 $242,750,000 $132,217 $2,190 4.48%
    Not provided 174 $17,480,000 $100,460 $2,226 4.89%
    Not applicable 66 $16,200,000 $245,455 $0 5.32%
    Asian 13 $1,815,000 $139,615 $2,172 4.29%
    American Indian 9 $1,015,000 $112,778 $1,849 4.04%
    Black 4 $400,000 $100,000 $1,757 3.91%

    Approval Rates

    Total approvals of all applications
    85.29%

    Westconsin Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.97%

    Westconsin Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,102 $279,660,000 $133,045

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $8,830,000 $735,833
    Single Family (1-4 Units):Manufactured 90 $8,530,000 $94,778
    Single Family (1-4 Units):Site-Built 2,000 $262,300,000 $131,150

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 321 $21,225,000 $66,121 $1,308 5.12%
    40-60% 238 $30,740,000 $129,160 $1,910 3.99%
    60-80% 566 $105,300,000 $186,042 $2,372 3.97%
    80-100% 556 $107,700,000 $193,705 $2,676 4.14%
    Over 100% 1 $275,000 $275,000 $5,575 4.00%
    Under 20% 420 $14,420,000 $34,333 $700 5.70%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 20.0%
    WESTSTAR MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 20.0%
    WESTSTAR MORTGAGE CORPORATION Other type of mortgage Trouble during payment process 2 40.0%
    WESTSTAR MORTGAGE CORPORATION VA mortgage Trouble during payment process 1 20.0%