Consumers Cooperative Credit Union Mortgage Rates, Fees & Info

Gurnee, IL

LEI: 5493004K0Z4RFJSPYT52

Tax ID: 36-1936022

5 stars - Updated: 12/4/24 - out of 5 stars, based on 31 reviews

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

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Mortgage Data

Review & Overview

Consumers Cooperative Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Consumers Cooperative Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Bloomington, Rockford, Nashville, and Philadelphia among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

Consumers Cooperative 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. Consumers Cooperative Credit Union is typically an average 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.12% 12/4/24
30 Year Conventional Purchase 6.14% 12/4/24
30 Year Conventional Refi 6.08% 12/4/24
30 Year Cash-out Refi 6.23% 12/4/24
30 Year FHA Purchase 6.27% 12/4/24
15 Year Conventional Purchase 6.23% 12/4/24
15 Year Conventional Refi 6.16% 12/4/24
15 Year Cash-out Refi 6.16% 12/4/24
15 Year FHA Purchase 5.68% 12/4/24
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.

Consumers Cooperative Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Consumers Cooperative 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

947

Origination Dollar Volume (All Markets)

$147,325,000

Relative Rate

Consumers Cooperative Credit Union's average 30 year fixed mortgage rate was 6.84%.

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

This yields a difference of 0.36%.

Relative Fees (Closing Costs)

Consumers Cooperative Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,576.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 873 $122,515,000 $140,338 $1,639 8.12%
BLOOMINGTON, IL (FHA|USDA|VA) 2 $4,580,000 $2,290,000 $0 6.09%
ROCKFORD, IL (FHA|USDA|VA) 10 $3,890,000 $389,000 $2,848 7.67%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $1,525,000 $508,333 $2,753 7.17%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $1,375,000 $458,333 $7,897 6.38%
Outside of Metro Areas 4 $1,240,000 $310,000 $2,462 8.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,185,000 $1,185,000 $9,873 6.50%
RACINE, WI (FHA|USDA|VA) 5 $1,175,000 $235,000 $2,614 6.80%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $1,135,000 $378,333 $1,899 6.83%
Whitewater, WI (FHA|USDA|VA) 9 $905,000 $100,556 $0 8.45%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $885,000 $885,000 $8,203 6.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $830,000 $415,000 $6,343 7.06%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $650,000 $325,000 $6,322 6.94%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $610,000 $305,000 $6,584 6.69%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $535,000 $535,000 $4,335 7.25%
MADISON, WI (FHA|USDA|VA) 2 $380,000 $190,000 $1,135 7.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $365,000 $365,000 $7,412 5.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,604 6.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $315,000 $315,000 $5,175 5.88%
KNOXVILLE, TN (FHA|USDA|VA) 1 $255,000 $255,000 $5,787 6.63%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $4,103 6.38%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $245,000 $245,000 $1,952 6.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $225,000 $225,000 $8,185 5.50%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $205,000 $205,000 $4,003 7.38%
Wilmington, OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,934 6.13%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,184 6.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $185,000 $185,000 $2,817 6.38%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $185,000 $185,000 $2,367 5.88%
RICHMOND, VA (FHA|USDA|VA) 1 $155,000 $155,000 $2,024 6.75%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $125,000 $125,000 $5,748 6.50%
CLEVELAND, TN (FHA|USDA|VA) 1 $105,000 $105,000 $3,252 7.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $105,000 $105,000 $5,983 7.13%
El Campo, TX (FHA|USDA|VA) 1 $95,000 $95,000 $2,882 6.50%
KANKAKEE, IL (FHA|USDA|VA) 2 $70,000 $35,000 $0 8.38%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.00%
Ashtabula, OH (FHA|USDA|VA) 1 $55,000 $55,000 $3,861 7.88%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.75%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 10.50%
Consumers Cooperative Credit Union's top markets include Chicago, Bloomington, Rockford, Nashville, and Philadelphia among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 483 $49,685,000 $102,867 n/a 8.76%
    Conventional 464 $97,640,000 $210,431 $1,907 7.32%

    For 2023, Consumers Cooperative Credit Union's most frequently originated type of loan was HELOC, with 483 originations. Their 2nd most popular type was Conventional, with 464 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 397 $33,785,000 $85,101 $192 8.33%
    Other 337 $25,925,000 $76,929 $162 8.42%
    Home Purchase 154 $54,920,000 $356,623 $5,757 6.88%
    Refi 32 $17,470,000 $545,938 $1,922 7.10%
    Cash Out Refi 27 $15,225,000 $563,889 $2,924 7.24%

    For 2023, Consumers Cooperative Credit Union's most frequently cited loan purpose was Home Improvement, with 397 originations. The 2nd most popular reason was Other, with 337 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 549 $54,165,000 $98,661 $714 8.73%
    30 Year 132 $38,660,000 $292,879 $5,576 6.84%
    10 Year 113 $16,305,000 $144,292 $66 7.63%
    5 Year 95 $31,125,000 $327,632 $34 6.58%
    15 Year 56 $5,460,000 $97,500 $957 7.72%
    Other 2 $1,610,000 $805,000 $0 6.19%

    For 2023, Consumers Cooperative Credit Union's most frequently cited loan duration was 20 Year, with 549 originations. The 2nd most popular length was 30 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 290 $14,940,000 $51,517
    $1k-2k 86 $23,810,000 $276,860
    $2k-3k 26 $6,950,000 $267,308
    $3k-4k 17 $4,345,000 $255,588
    $5k+ 12 $4,690,000 $390,833
    $4k-5k 7 $2,255,000 $322,143

    Consumers Cooperative Credit Union's average total fees were $5,576, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 290 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 419 $32,305,000 $77,100
    7-8% 304 $37,990,000 $124,967
    6-7% 145 $46,185,000 $318,517
    5-6% 56 $28,490,000 $508,750
    4-5% 23 $2,355,000 $102,391

    During 2023, Consumers Cooperative Credit Union's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was Over 8%, with 419 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 590 $29,080,000 $49,288 $192 8.38%
    $100k-200k 189 $24,615,000 $130,238 $3,468 7.80%
    $200k-400k 116 $32,520,000 $280,345 $5,524 7.42%
    $400k-600k 24 $11,760,000 $490,000 $7,147 7.20%
    $1MM+ 15 $39,335,000 $2,622,333 $7,561 6.01%
    $600k-1MM 13 $10,015,000 $770,385 $7,442 6.66%

    2023 saw Consumers Cooperative Credit Union place emphasis on $100,000 or less loans with 590 originations, totaling $29,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 248 $24,080,000 $97,097 $1,688 8.14%
    $150k-250k 212 $31,410,000 $148,160 $2,444 8.01%
    $75k-100k 181 $13,725,000 $75,829 $1,258 8.25%
    $50k-75k 148 $10,950,000 $73,986 $1,593 8.13%
    $250k+ 75 $23,695,000 $315,933 $4,942 7.83%
    $50k or less 60 $3,350,000 $55,833 $1,425 8.13%

    Consumers Cooperative Credit Union lent most frequently to those with incomes in the $100k-150k range, with 248 originations. The second most popular income band? $150k-250k, with 212 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 164 $18,730,000 $114,207 $1,904 7.67%
    30-36% 153 $19,905,000 $130,098 $2,541 8.00%
    44% 65 $6,435,000 $99,000 $1,143 8.78%
    <20% 52 $7,090,000 $136,346 $3,040 7.40%
    47% 49 $4,285,000 $87,449 $1,160 8.51%
    43% 49 $6,215,000 $126,837 $1,754 8.68%
    42% 47 $4,455,000 $94,787 $1,346 8.33%
    49% 41 $5,235,000 $127,683 $2,001 8.14%
    38% 39 $4,115,000 $105,513 $1,057 8.06%
    48% 35 $4,805,000 $137,286 $2,145 8.11%
    37% 35 $4,035,000 $115,286 $2,542 8.39%
    40% 34 $3,210,000 $94,412 $1,970 8.54%
    36% 34 $3,670,000 $107,941 $1,499 8.12%
    41% 31 $3,865,000 $124,677 $1,199 7.89%
    39% 31 $3,235,000 $104,355 $1,607 7.93%
    46% 30 $3,830,000 $127,667 $2,289 7.98%
    45% 28 $3,370,000 $120,357 $2,392 8.56%
    50-60% 6 $430,000 $71,667 $0 8.42%

    Consumers Cooperative Credit Union lent most frequently to those with DTI ratios of 20-30%, with 164 originations. The next most common DTI ratio? 30-36%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 641 $75,365,000 $117,574 $2,084 8.08%
    Not applicable 22 $39,610,000 $1,800,455 $0 6.04%
    Not provided 200 $20,500,000 $102,500 $1,238 8.15%
    Asian 39 $7,445,000 $190,897 $3,117 8.07%
    Black 30 $3,400,000 $113,333 $2,332 8.05%
    American Indian 10 $760,000 $76,000 $1,605 8.39%
    Korean 1 $105,000 $105,000 $0 9.25%
    Filipino 1 $55,000 $55,000 $550 9.49%
    Other Pacific Islander 2 $50,000 $25,000 $0 8.38%
    Asian Indian 1 $35,000 $35,000 $0 8.75%

    Approval Rates

    Total approvals of all applications
    83.87%

    Consumers Cooperative Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.87%

    Consumers Cooperative Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 947 $147,325,000 $155,570

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    947 $147,325,000 $155,570

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 239 $24,985,000 $104,540 $347 8.46%
    40-60% 70 $27,060,000 $386,571 $2,891 7.69%
    60-80% 98 $49,900,000 $509,184 $5,057 6.93%
    80-100% 68 $22,210,000 $326,618 $6,324 6.84%
    Under 20% 472 $23,170,000 $49,089 $74 8.31%