Westconsin Credit Union Mortgage Rates, Fees & Info
Menomonie, WILEI: 254900X6OAHFW6BUT219
Tax ID: 39-0823125
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Mortgage Data
Review & Overview
Westconsin Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi 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 Madison among others. We have data for 17 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.07% | 11/17/24 |
| 30 Year Conventional Refi | 6.09% | 11/17/24 |
| 30 Year Cash-out Refi | 6.12% | 11/17/24 |
| 30 Year USDA Purchase | 7.13% | 11/17/24 |
| 15 Year Conventional Purchase | 6.10% | 11/17/24 |
| 15 Year Conventional Refi | 5.89% | 11/17/24 |
| 15 Year Cash-out Refi | 5.89% | 11/17/24 |
| 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
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This is not an official calculator from Westconsin Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,475Origination Dollar Volume (All Markets)
$401,995,000Top 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) | 984 | $186,260,000 | $189,289 | $2,875 | 3.18% |
| Outside of Metro Areas | 655 | $88,105,000 | $134,511 | $2,591 | 3.27% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 430 | $67,800,000 | $157,674 | $2,571 | 3.29% |
| Menomonie, WI (FHA|USDA|VA) | 383 | $55,565,000 | $145,078 | $2,567 | 3.24% |
| DULUTH, MN-WI (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $2,917 | 3.17% |
| MADISON, WI (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $4,446 | 3.33% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,613 | 3.19% |
| Red Wing, MN (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,401 | 3.04% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.88% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,452 | 3.13% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,871 | 3.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,393 | 3.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,695 | 3.00% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,021 | 3.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,867 | 2.63% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 2.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,992 | $376,360,000 | $188,936 | $2,696 | 3.13% |
| HELOC | 474 | $24,250,000 | $51,160 | n/a | 3.68% |
| USDA | 9 | $1,385,000 | $153,889 | $3,689 | 3.35% |
For 2021, Westconsin Credit Union's most frequently originated type of loan was Conventional, with 1,992 originations. Their 2nd most popular type was HELOC, with 474 originations.
Loan Reason
For 2021, Westconsin Credit Union's most frequently cited loan purpose was Cash Out Refi, with 739 originations. The 2nd most popular reason was Home Purchase, with 601 originations.
Loan Duration/Length
For 2021, Westconsin Credit Union's most frequently cited loan duration was 30 Year, with 1,582 originations. The 2nd most popular length was 15 Year, with 419 originations.
Origination Fees/Closing Costs
Westconsin Credit Union's average total fees were $2,883, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 904 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,188 | $185,110,000 | $155,816 |
| 2.5-3% | 1,010 | $190,670,000 | $188,782 |
| 4-5% | 182 | $11,990,000 | $65,879 |
| <2.5% | 92 | $13,770,000 | $149,674 |
| 5-6% | 3 | $455,000 | $151,667 |
During 2021, Westconsin Credit Union's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 3-4%, with 1,188 originations.
Loan Sizing
2021 saw Westconsin Credit Union place emphasis on $100k-200k loans with 999 originations, totaling $146,145,000 in origination value.
Applicant Income
Westconsin Credit Union lent most frequently to those with incomes in the $50k-75k range, with 600 originations. The second most popular income band? $100k-150k, with 546 originations.
Applicant Debt to Income Ratio
Westconsin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 638 originations. The next most common DTI ratio? 30-36%, with 495 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.21%
Westconsin Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.49%
Westconsin Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,475 | $401,995,000 | $162,422 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WESTSTAR MORTGAGE CORPORATION | VA mortgage | Closing on a mortgage | 1 | 14.3% |
| WESTSTAR MORTGAGE CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 14.3% |
| WESTSTAR MORTGAGE CORPORATION | FHA mortgage | Trouble during payment process | 2 | 28.6% |
| WESTSTAR MORTGAGE CORPORATION | FHA mortgage | Unable to get your credit report or credit score | 1 | 14.3% |
| WESTSTAR MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| WESTSTAR MORTGAGE CORPORATION | Conventional home mortgage | Unable to get your credit report or credit score | 1 | 14.3% |