Westmark Credit Union Mortgage Rates, Fees & Info
Idaho Falls, IDLEI: 5493006LGHJCBICSE610
Tax ID: 82-0218879
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Mortgage Data
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 14 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.12% | 12/16/24 |
| 30 Year Conventional Refi | 6.37% | 12/16/24 |
| 30 Year Cash-out Refi | 6.21% | 12/16/24 |
| 30 Year FHA Purchase | 6.00% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.93% | 12/16/24 |
| 15 Year Conventional Refi | 7.11% | 12/16/24 |
| 15 Year Cash-out Refi | 7.11% | 12/16/24 |
| 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
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This is not an official calculator from Westmark 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
946Origination Dollar Volume (All Markets)
$135,040,000Top 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 |
|---|---|---|---|---|---|
| IDAHO FALLS, ID (FHA|USDA|VA) | 426 | $57,930,000 | $135,986 | $5,142 | 3.49% |
| BOISE CITY, ID (FHA|USDA|VA) | 224 | $35,250,000 | $157,366 | $5,325 | 3.56% |
| Blackfoot, ID (FHA|USDA|VA) | 110 | $13,330,000 | $121,182 | $3,927 | 3.65% |
| POCATELLO, ID (FHA|USDA|VA) | 84 | $10,240,000 | $121,905 | $4,488 | 3.69% |
| TWIN FALLS, ID (FHA|USDA|VA) | 38 | $5,630,000 | $148,158 | $4,155 | 3.72% |
| Rexburg, ID (FHA|USDA|VA) | 21 | $4,335,000 | $206,429 | $5,826 | 3.63% |
| Outside of Metro Areas | 3 | $1,895,000 | $631,667 | $8,737 | 3.04% |
| Outside of Metro Areas | 14 | $1,640,000 | $117,143 | $2,785 | 3.84% |
| Hailey, ID (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $7,809 | 2.56% |
| Jackson, WY-ID (FHA|USDA|VA) | 6 | $1,180,000 | $196,667 | $4,776 | 3.81% |
| Ontario, OR-ID (FHA|USDA|VA) | 8 | $1,050,000 | $131,250 | $5,539 | 3.79% |
| Moscow, ID (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $5,825 | 3.04% |
| Burley, ID (FHA|USDA|VA) | 6 | $530,000 | $88,333 | $1,609 | 3.63% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,515 | 3.50% |
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.
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Product Mix
For 2020, Westmark Credit Union's most frequently originated type of loan was Conventional, with 589 originations. Their 2nd most popular type was HELOC, with 344 originations.
Loan Reason
For 2020, Westmark Credit Union's most frequently cited loan purpose was Home Purchase, with 512 originations. The 2nd most popular reason was Home Improvement, with 391 originations.
Loan Duration/Length
For 2020, Westmark Credit Union's most frequently cited loan duration was 15 Year, with 506 originations. The 2nd most popular length was 30 Year, with 299 originations.
Origination Fees/Closing Costs
Westmark Credit Union's average total fees were $6,361, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 119 originations.
Interest Rates
During 2020, Westmark Credit Union's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 484 originations.
Loan Sizing
2020 saw Westmark Credit Union place emphasis on $100,000 or less loans with 453 originations, totaling $21,045,000 in origination value.
Applicant Income
Westmark Credit Union lent most frequently to those with incomes in the $100k-150k range, with 228 originations. The second most popular income band? $50k-75k, with 222 originations.
Applicant Debt to Income Ratio
Westmark Credit Union lent most frequently to those with DTI ratios of 20-30%, with 278 originations. The next most common DTI ratio? 30-36%, with 197 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.52%
Westmark Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination75.58%
Westmark Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2464.0 | 1 | $195,000 | $195,000 |
| NA | 945 | $134,845,000 | $142,693 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $465,000 | $51,667 |
| Single Family (1-4 Units):Site-Built | 937 | $134,575,000 | $143,623 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WCDA WYOMING COMMUNITY DEVELOPMENT AUTHORITY | FHA mortgage | Trouble during payment process | 1 | 100.0% |