Westmark Credit Union Mortgage Rates, Fees & Info
Idaho Falls, IDLEI: 5493006LGHJCBICSE610
Tax ID: 82-0218879
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Westmark Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Westmark Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Idaho Falls, Boise City, Blackfoot, Pocatello, and Twin Falls among others. Westmark Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Westmark Credit Union is typically a high fee lendor.Originations
965Origination Dollar Volume (All Markets)
$140,455,000Awards
WESTMARK Credit Union - 2021
WESTMARK Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Westmark Credit Union's average 30 year fixed rate mortgage of loans were
2.9%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.25%.
Relative Fees
Westmark Credit Union's average total fees for a 30 year fixed rate
mortgage are $6,711.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| IDAHO FALLS, ID (FHA|USDA|VA) | 421 | $59,395,000 | $141,081 | $4,812 | 3.05% |
| BOISE CITY, ID (FHA|USDA|VA) | 254 | $40,130,000 | $157,992 | $4,780 | 3.15% |
| Blackfoot, ID (FHA|USDA|VA) | 88 | $11,930,000 | $135,568 | $4,019 | 3.09% |
| POCATELLO, ID (FHA|USDA|VA) | 72 | $10,170,000 | $141,250 | $4,799 | 3.01% |
| TWIN FALLS, ID (FHA|USDA|VA) | 58 | $7,660,000 | $132,069 | $3,785 | 3.21% |
| Outside of Metro Areas | 21 | $3,695,000 | $175,952 | $4,197 | 3.02% |
| Rexburg, ID (FHA|USDA|VA) | 23 | $2,945,000 | $128,043 | $4,499 | 2.84% |
| Jackson, WY-ID (FHA|USDA|VA) | 6 | $980,000 | $163,333 | $2,876 | 4.09% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $5,223 | 3.43% |
| Ontario, OR-ID (FHA|USDA|VA) | 8 | $830,000 | $103,750 | $4,192 | 2.96% |
| Sandpoint, ID (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $5,657 | 2.62% |
| Hailey, ID (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 3.93% |
| Burley, ID (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 4.18% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 3.71% |
| Outside of Metro Areas | 1 | $245,000 | $245,000 | $6,273 | 2.38% |
Westmark Credit Union's top markets include Idaho Falls, Boise City, Blackfoot, Pocatello, and Twin Falls among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 948 | $134,720,000 | $142,110 | $4,584 | 3.10% |
| VA | 13 | $4,785,000 | $368,077 | $8,652 | 2.82% |
| FHA | 4 | $950,000 | $237,500 | $4,796 | 2.63% |
For the 2021 period, Westmark Credit Union's most frequently originated loan type of loans were Conventional, with 948 originations. Their 2nd most popular type is VA, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 424 | $23,160,000 | $54,623 | $57 | 3.38% |
| Home Purchase | 325 | $77,395,000 | $238,138 | $5,946 | 2.77% |
| Cash Out Refi | 143 | $31,835,000 | $222,622 | $6,048 | 2.75% |
| Refi | 73 | $8,065,000 | $110,479 | $1,124 | 3.56% |
For the 2021, Westmark Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 424 originations. The 2nd most popular reason of loans were Home Purchase, with 325 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 556 | $50,190,000 | $90,270 | $3,458 | 3.08% |
| 30 Year | 271 | $73,265,000 | $270,351 | $6,711 | 2.90% |
| 10 Year | 65 | $5,455,000 | $83,923 | $916 | 3.85% |
| 20 Year | 49 | $10,265,000 | $209,490 | $5,882 | 2.82% |
| Other | 15 | $1,005,000 | $67,000 | $0 | 3.87% |
| 5 Year | 9 | $275,000 | $30,556 | $0 | 4.26% |
For the 2021, Westmark Credit Union's most frequently cited loan length of loans were 15 Year, with 556 originations. The 2nd most popular length of loans were 30 Year, with 271 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 144 | $10,820,000 | $75,139 |
| $2k-3k | 134 | $23,160,000 | $172,836 |
| $3k-4k | 124 | $31,560,000 | $254,516 |
| $5k+ | 87 | $35,595,000 | $409,138 |
| $1k-2k | 64 | $6,820,000 | $106,563 |
$6,711 of loans were Westmark Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 144 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 616 | $88,880,000 | $144,286 |
| <2.5% | 144 | $28,270,000 | $196,319 |
| 3-4% | 103 | $15,275,000 | $148,301 |
| 4-5% | 102 | $8,030,000 | $78,725 |
During 2021, Westmark Credit Union's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 616 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 495 | $25,785,000 | $52,091 | $818 | 3.31% |
| $100k-200k | 223 | $34,035,000 | $152,623 | $4,137 | 2.89% |
| $200k-400k | 204 | $55,690,000 | $272,990 | $6,988 | 2.83% |
| $400k-600k | 32 | $15,370,000 | $480,313 | $9,508 | 2.87% |
| $600k-1MM | 9 | $6,535,000 | $726,111 | $13,322 | 2.83% |
| $1MM+ | 2 | $3,040,000 | $1,520,000 | $20,107 | 2.94% |
2021 saw Westmark Credit Union place emphasis on $100,000 or less loans with 495 originations, totaling $25,785,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 266 | $40,440,000 | $152,030 | $5,254 | 3.02% |
| $50k-75k | 213 | $24,965,000 | $117,207 | $4,086 | 3.04% |
| $75k-100k | 191 | $25,685,000 | $134,476 | $4,353 | 3.15% |
| $150k-250k | 129 | $22,475,000 | $174,225 | $5,089 | 3.22% |
| $50k or less | 110 | $11,250,000 | $102,273 | $3,136 | 3.05% |
| $250k+ | 44 | $14,610,000 | $332,045 | $8,140 | 3.24% |
Westmark Credit Union lent most frequently to those with incomes in the $100k-150k range, with 266 originations. The second most popular income band? $50k-75k, with 213 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 247 | $40,105,000 | $162,368 | $4,873 | 2.96% |
| 30-36% | 184 | $27,520,000 | $149,565 | $4,888 | 3.09% |
| <20% | 150 | $22,500,000 | $150,000 | $4,153 | 2.94% |
| 41% | 56 | $7,440,000 | $132,857 | $4,771 | 3.16% |
| 42% | 49 | $5,185,000 | $105,816 | $4,343 | 3.29% |
| 36% | 43 | $5,845,000 | $135,930 | $4,637 | 3.18% |
| 37% | 36 | $4,500,000 | $125,000 | $4,136 | 3.20% |
| 43% | 35 | $4,485,000 | $128,143 | $4,438 | 3.29% |
| 40% | 34 | $5,150,000 | $151,471 | $4,746 | 3.24% |
| 38% | 30 | $2,890,000 | $96,333 | $2,274 | 3.48% |
| 39% | 26 | $2,300,000 | $88,462 | $2,482 | 3.35% |
| 46% | 14 | $3,080,000 | $220,000 | $7,479 | 2.77% |
| 45% | 13 | $1,515,000 | $116,538 | $4,654 | 3.29% |
| 44% | 12 | $2,230,000 | $185,833 | $5,679 | 2.81% |
| 50-60% | 11 | $1,675,000 | $152,273 | $4,593 | 3.68% |
| 49% | 9 | $1,095,000 | $121,667 | $4,074 | 3.31% |
| 47% | 8 | $1,570,000 | $196,250 | $6,880 | 2.76% |
| >60% | 4 | $480,000 | $120,000 | $1,378 | 3.51% |
| 48% | 3 | $475,000 | $158,333 | $4,399 | 3.31% |
Westmark Credit Union lent most frequently to those with DTI ratios of 20-30%, with 247 originations. The next most common DTI ratio? 30-36%, with 184 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 926 | $131,560,000 | $142,073 | $4,552 | 3.10% |
| Not provided | 27 | $7,025,000 | $260,185 | $5,671 | 2.75% |
| Asian | 7 | $945,000 | $135,000 | $0 | 2.82% |
| American Indian | 4 | $880,000 | $220,000 | $5,685 | 3.17% |
| Black | 1 | $45,000 | $45,000 | $0 | 2.99% |
Approval Rates
Total approvals of all applications84.59%
Westmark Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.03%
Westmark Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 965 | $140,455,000 | $145,549 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 965 | $140,455,000 | $145,549 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 165 | $18,535,000 | $112,333 | $2,968 | 3.10% |
| 40-60% | 169 | $33,605,000 | $198,846 | $4,972 | 2.76% |
| 60-80% | 151 | $42,665,000 | $282,550 | $7,346 | 2.81% |
| 80-100% | 70 | $24,760,000 | $353,714 | $7,972 | 2.84% |
| Under 20% | 407 | $20,105,000 | $49,398 | $349 | 3.38% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| West One Capital Group Inc. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |
