Westmark Credit Union Mortgage Rates, Fees & Info

Idaho Falls, ID

LEI: 5493006LGHJCBICSE610

Tax ID: 82-0218879

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
  • 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

    Westmark Credit Union is a smaller credit union specializing in Home Purchase 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Idaho Falls, Boise City, Blackfoot, Pocatello, and Twin Falls among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Westmark 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. Westmark 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 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% 4/18/24
    30 Year Conventional Purchase 6.12% 4/18/24
    30 Year Conventional Refi 6.37% 4/18/24
    30 Year Cash-out Refi 6.21% 4/18/24
    30 Year FHA Purchase 6.00% 4/18/24
    30 Year VA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 5.93% 4/18/24
    15 Year Conventional Refi 7.11% 4/18/24
    15 Year Cash-out Refi 7.11% 4/18/24
    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.

    Westmark Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Westmark 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

    786

    Origination Dollar Volume (All Markets)

    $92,340,000
    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
    IDAHO FALLS, ID (FHA|USDA|VA) 332 $36,760,000 $110,723 $4,356 4.13%
    BOISE CITY, ID (FHA|USDA|VA) 213 $25,355,000 $119,038 $4,825 4.16%
    Blackfoot, ID (FHA|USDA|VA) 79 $9,405,000 $119,051 $3,853 4.56%
    POCATELLO, ID (FHA|USDA|VA) 62 $6,340,000 $102,258 $3,738 4.19%
    Outside of Metro Areas 28 $5,560,000 $198,571 $5,135 4.34%
    TWIN FALLS, ID (FHA|USDA|VA) 44 $3,980,000 $90,455 $4,004 4.14%
    Rexburg, ID (FHA|USDA|VA) 17 $2,335,000 $137,353 $3,815 4.25%
    Hailey, ID (FHA|USDA|VA) 3 $1,505,000 $501,667 $8,523 5.44%
    PROVO-OREM, UT (FHA|USDA|VA) 1 $455,000 $455,000 $4,193 3.75%
    LEWISTON, ID-WA (FHA|USDA|VA) 1 $215,000 $215,000 $6,648 4.13%
    Mountain Home, ID (FHA|USDA|VA) 2 $180,000 $90,000 $4,143 3.68%
    Outside of Metro Areas 1 $155,000 $155,000 $0 7.00%
    Ontario, OR-ID (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
    Burley, ID (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.99%
    Jackson, WY-ID (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.99%
    Westmark Credit Union's top markets include Idaho Falls, Boise City, Blackfoot, Pocatello, and Twin Falls among others.

    Their top states include:
  • Idaho (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against WESTMARK Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PIONEER
    Similarity Rank: 168
    FIRST MORTGAGE COMPANY, INC.
    Similarity Rank: 182
    EAST IDAHO Credit Union
    Similarity Rank: 220
    ADVANTAGE PLUS
    Similarity Rank: 408
    CONNECTIONS
    Similarity Rank: 420
    First Utah Bank
    Similarity Rank: 540
    IDAHO STATE UNIVERSITY
    Similarity Rank: 962
    Icon Credit Union
    Similarity Rank: 1469
    First Federal Savings Bank of Twin Falls
    Similarity Rank: 1840
    CAPITAL EDUCATORS FEDERAL CREDIT UNION
    Similarity Rank: 1860

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 416 $74,880,000 $180,000 $4,426 4.25%
    HELOC 355 $14,655,000 $41,282 n/a 4.16%
    FHA 7 $1,225,000 $175,000 $3,009 3.75%
    USDA 5 $835,000 $167,000 $2,346 3.75%
    VA 3 $745,000 $248,333 $0 0.00%

    For 2019, Westmark Credit Union's most frequently originated type of loan was Conventional, with 416 originations. Their 2nd most popular type was HELOC, with 355 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 417 $18,095,000 $43,393 $46 4.53%
    Home Purchase 329 $70,315,000 $213,723 $5,657 3.72%
    Refi 32 $2,150,000 $67,188 $520 4.62%
    Cash Out Refi 8 $1,780,000 $222,500 $4,931 3.88%

    For 2019, Westmark Credit Union's most frequently cited loan purpose was Home Improvement, with 417 originations. The 2nd most popular reason was Home Purchase, with 329 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 456 $28,350,000 $62,171 $3,299 4.21%
    30 Year 241 $52,775,000 $218,983 $5,815 3.84%
    10 Year 51 $6,065,000 $118,922 $1,156 5.39%
    20 Year 16 $3,330,000 $208,125 $5,182 3.68%
    Other 13 $795,000 $61,154 $143 4.84%
    5 Year 7 $235,000 $33,571 $0 6.37%
    1 Year 1 $425,000 $425,000 $11,283 3.88%
    30+ year 1 $365,000 $365,000 $8,098 4.00%

    For 2019, Westmark Credit Union's most frequently cited loan duration was 15 Year, with 456 originations. The 2nd most popular length was 30 Year, with 241 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 98 $6,090,000 $62,143
    $2k-3k 69 $10,815,000 $156,739
    $1k-2k 66 $7,980,000 $120,909
    $3k-4k 61 $13,445,000 $220,410
    $4k-5k 51 $13,985,000 $274,216
    $5k+ 48 $18,000,000 $375,000

    Westmark Credit Union's average total fees were $5,815, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 98 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 582 $66,190,000 $113,729
    4-5% 75 $11,875,000 $158,333
    6-7% 49 $2,695,000 $55,000
    7-8% 25 $1,425,000 $57,000
    2.5-3% 18 $3,790,000 $210,556
    5-6% 17 $1,575,000 $92,647

    During 2019, Westmark Credit Union's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 582 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 467 $20,205,000 $43,266 $862 4.43%
    $100k-200k 161 $23,625,000 $146,739 $4,400 3.95%
    $200k-400k 135 $35,935,000 $266,185 $6,739 3.72%
    $400k-600k 20 $9,390,000 $469,500 $9,175 3.79%
    $1MM+ 2 $2,410,000 $1,205,000 $14,804 3.69%
    $600k-1MM 1 $775,000 $775,000 $10,544 3.75%

    2019 saw Westmark Credit Union place emphasis on $100,000 or less loans with 467 originations, totaling $20,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 213 $26,145,000 $122,746 $4,933 4.20%
    $50k-75k 163 $17,095,000 $104,877 $4,239 4.16%
    $75k-100k 151 $17,165,000 $113,675 $4,552 4.22%
    $50k or less 122 $9,890,000 $81,066 $3,208 4.16%
    $150k-250k 98 $13,870,000 $141,531 $4,382 4.21%
    $250k+ 23 $7,495,000 $325,870 $6,871 4.56%

    Westmark Credit Union lent most frequently to those with incomes in the $100k-150k range, with 213 originations. The second most popular income band? $50k-75k, with 163 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 206 $25,270,000 $122,670 $4,528 4.19%
    30-36% 169 $20,215,000 $119,615 $4,496 4.20%
    <20% 106 $10,860,000 $102,453 $3,490 4.15%
    36% 38 $4,960,000 $130,526 $4,754 4.33%
    38% 36 $3,960,000 $110,000 $4,191 4.17%
    42% 35 $2,805,000 $80,143 $3,599 4.51%
    40% 33 $2,855,000 $86,515 $4,109 4.15%
    41% 27 $2,995,000 $110,926 $5,128 4.28%
    39% 25 $2,515,000 $100,600 $3,726 4.09%
    37% 21 $2,075,000 $98,810 $3,539 4.23%
    45% 14 $2,050,000 $146,429 $7,190 3.88%
    43% 14 $1,960,000 $140,000 $4,772 3.85%
    44% 9 $1,185,000 $131,667 $3,861 4.68%
    50-60% 8 $910,000 $113,750 $6,604 3.98%
    46% 7 $1,335,000 $190,714 $5,063 4.30%
    >60% 6 $650,000 $108,333 $2,992 4.94%
    49% 5 $725,000 $145,000 $5,408 3.52%
    48% 4 $140,000 $35,000 $240 4.31%
    47% 3 $85,000 $28,333 $0 4.79%

    Westmark Credit Union lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 765 $88,035,000 $115,078 $4,327 4.20%
    Not provided 9 $2,625,000 $291,667 $7,779 4.11%
    Black 3 $705,000 $235,000 $5,004 3.75%
    American Indian 4 $680,000 $170,000 $5,556 3.62%
    Asian 3 $235,000 $78,333 $2,267 4.25%
    Native Hawaiian or Islander 2 $60,000 $30,000 $0 5.19%

    Approval Rates

    Total approvals of all applications
    87.11%

    Westmark Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.45%

    Westmark Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 786 $92,340,000 $117,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $520,000 $86,667
    Single Family (1-4 Units):Site-Built 780 $91,820,000 $117,718

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 122 $8,150,000 $66,803 $1,469 4.56%
    40-60% 65 $9,405,000 $144,692 $3,785 3.90%
    60-80% 145 $32,765,000 $225,966 $6,127 3.78%
    80-100% 96 $25,030,000 $260,729 $6,049 3.81%
    Under 20% 339 $12,565,000 $37,065 $83 4.42%