Prospera Credit Union Mortgage Rates, Fees & Info
Appleton, WILEI: 549300C25OR47JWZ1L21
Tax ID: 39-0744917
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Mortgage Data
Review & Overview
Prospera Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Prospera Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Appleton, Oshkosh, Green Bay, Milwaukee, and Manitowoc among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Prospera Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Prospera 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.10% | 5/14/24 |
| 30 Year Conventional Refi | 5.86% | 5/14/24 |
| 30 Year Cash-out Refi | 5.98% | 5/14/24 |
| 15 Year Conventional Purchase | 4.80% | 5/14/24 |
| 15 Year Conventional Refi | 4.81% | 5/14/24 |
| 15 Year Cash-out Refi | 4.81% | 5/14/24 |
| 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. | ||
Prospera Credit Union Mortgage Calculator
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This is not an official calculator from Prospera 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
124Origination Dollar Volume (All Markets)
$16,900,000Awards
PROSPERA Credit Union - 2019
PROSPERA Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| APPLETON, WI (FHA|USDA|VA) | 63 | $8,215,000 | $130,397 | $875 | 3.94% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 50 | $5,750,000 | $115,000 | $736 | 4.23% |
| GREEN BAY, WI (FHA|USDA|VA) | 5 | $1,845,000 | $369,000 | $677 | 4.44% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $1,429 | 3.88% |
| Outside of Metro Areas | 2 | $230,000 | $115,000 | $1,367 | 3.69% |
| Manitowoc, WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,354 | 3.88% |
| FOND DU LAC, WI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $350 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against PROSPERA Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 70
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Similarity Rank: 152
Similarity Rank: 180
Similarity Rank: 352
Similarity Rank: 483
Similarity Rank: 851
Similarity Rank: 1029
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 124 | $16,900,000 | $136,290 | $835 | 4.08% |
For 2019, Prospera Credit Union's most frequently originated type of loan was Conventional, with 124 originations.
Loan Reason
For 2019, Prospera Credit Union's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Other, with 29 originations.
Loan Duration/Length
For 2019, Prospera Credit Union's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 5 Year, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 97 | $11,925,000 | $122,938 |
| $1k-2k | 1 | $115,000 | $115,000 |
Prospera Credit Union's average total fees were $1,287, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 79 | $10,635,000 | $134,620 |
| 4-5% | 35 | $4,905,000 | $140,143 |
| 5-6% | 9 | $1,335,000 | $148,333 |
| Over 8% | 1 | $25,000 | $25,000 |
During 2019, Prospera Credit Union's average interest rate for loans was 3.85%, while their most frequently originated rate bucket for loans was 3-4%, with 79 originations.
Loan Sizing
2019 saw Prospera Credit Union place emphasis on $100,000 or less loans with 57 originations, totaling $3,715,000 in origination value.
Applicant Income
Prospera Credit Union lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $75k-100k, with 26 originations.
Applicant Debt to Income Ratio
Prospera Credit Union lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.39%
Prospera Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination95.16%
Prospera Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 124 | $16,900,000 | $136,290 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $1,055,000 | $351,667 |
| Single Family (1-4 Units):Site-Built | 121 | $15,845,000 | $130,950 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROSPERITY BANCSHARES, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| PROSPERITY BANCSHARES, INC. | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| PROSPERITY BANCSHARES, INC. | Other type of mortgage | Closing on a mortgage | 1 | 33.3% |