Prime Financial Credit Union Mortgage Rates, Fees & Info

Cudahy, WI

LEI: 549300D9ZODKN6CVV913

Tax ID: 39-0477300

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

Jump to:

  • 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

    Prime Financial Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Prime Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Racine, Whitewater, Beaver Dam, and Chicago among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prime Financial Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Prime Financial 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.

    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
    30 Year Conventional Purchase 6.66% 11/17/24
    30 Year Conventional Refi 6.95% 11/17/24
    30 Year Cash-out Refi 5.95% 11/17/24
    30 Year USDA Refi 6.93% 11/17/24
    15 Year Conventional Refi 7.70% 11/17/24
    15 Year Cash-out Refi 7.70% 11/17/24
    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.

    Prime Financial Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Prime Financial 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

    77

    Origination Dollar Volume (All Markets)

    $6,755,000

    Awards

    PRIME FINANCIAL CREDIT UNION 30 Year Conventional Loans gold PRIME FINANCIAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) 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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 68 $5,990,000 $88,088 $1,104 4.83%
    RACINE, WI (FHA|USDA|VA) 3 $345,000 $115,000 $1,245 6.00%
    Outside of Metro Areas 2 $230,000 $115,000 $1,298 4.38%
    Whitewater, WI (FHA|USDA|VA) 2 $100,000 $50,000 $1,041 7.62%
    Beaver Dam, WI (FHA|USDA|VA) 1 $55,000 $55,000 $625 4.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $35,000 $35,000 $1,241 6.00%
    Prime Financial Credit Union's top markets include Milwaukee, Racine, Whitewater, Beaver Dam, and Chicago among others.

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

    • Similar Lenders

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

    AppleTree Credit Union
    Similarity Rank: 8
    NORTHWESTERN MUTUAL
    Similarity Rank: 117
    Empower Credit Union
    Similarity Rank: 144
    EDUCATORS CREDIT UNION
    Similarity Rank: 220
    Kohler Credit Union
    Similarity Rank: 418
    Westbury Bank
    Similarity Rank: 437
    Commerce State Bank
    Similarity Rank: 735
    Horicon Bank
    Similarity Rank: 752
    PyraMax Bank, FSB
    Similarity Rank: 756
    Glacier Hills Credit Union
    Similarity Rank: 765

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $6,345,000 $94,701 $1,107 4.83%
    HELOC 10 $410,000 $41,000 n/a 5.78%

    For 2019, Prime Financial Credit Union's most frequently originated type of loan was Conventional, with 67 originations. Their 2nd most popular type was HELOC, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 56 $3,560,000 $63,571 $928 5.07%
    Home Purchase 13 $1,555,000 $119,615 $1,705 5.04%
    Refi 7 $1,625,000 $232,143 $1,173 3.79%
    Other 1 $15,000 $15,000 $0 5.50%

    For 2019, Prime Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 28 $1,810,000 $64,643 $1,012 5.58%
    30 Year 16 $2,310,000 $144,375 $1,520 4.92%
    10 Year 13 $395,000 $30,385 $712 5.22%
    15 Year 10 $1,070,000 $107,000 $1,216 3.84%
    20 Year 6 $1,090,000 $181,667 $1,320 4.42%
    3 Year 2 $40,000 $20,000 $435 3.13%
    5 Year 2 $40,000 $20,000 $670 3.68%

    For 2019, Prime Financial Credit Union's most frequently cited loan duration was Other, with 28 originations. The 2nd most popular length was 30 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 60 $5,560,000 $92,667

    Prime Financial Credit Union's average total fees were $1,520, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 60 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 22 $1,860,000 $84,545
    3-4% 21 $2,505,000 $119,286
    4-5% 20 $1,560,000 $78,000
    6-7% 9 $655,000 $72,778
    7-8% 2 $80,000 $40,000
    Over 8% 2 $80,000 $40,000
    2.5-3% 1 $15,000 $15,000

    During 2019, Prime Financial Credit Union's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 52 $2,190,000 $42,115 $910 5.12%
    $100k-200k 20 $2,720,000 $136,000 $1,446 4.70%
    $200k-400k 4 $1,260,000 $315,000 $1,577 4.38%
    $400k-600k 1 $585,000 $585,000 $1,047 3.63%

    2019 saw Prime Financial Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 25 $1,685,000 $67,400 $1,027 5.10%
    $50k-75k 18 $1,330,000 $73,889 $1,256 4.65%
    $150k-250k 12 $1,850,000 $154,167 $931 5.05%
    $50k or less 11 $725,000 $65,909 $1,062 4.56%
    $100k-150k 7 $715,000 $102,143 $1,303 5.14%
    $250k+ 4 $450,000 $112,500 $1,475 5.84%

    Prime Financial Credit Union lent most frequently to those with incomes in the $75k-100k range, with 25 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $2,340,000 $97,500 $1,185 4.87%
    30-36% 13 $715,000 $55,000 $1,035 4.90%
    <20% 11 $355,000 $32,273 $891 4.53%
    38% 5 $565,000 $113,000 $1,439 5.63%
    42% 5 $325,000 $65,000 $991 4.78%
    39% 4 $330,000 $82,500 $969 4.59%
    44% 3 $145,000 $48,333 $1,353 6.91%
    43% 3 $445,000 $148,333 $1,230 4.54%
    40% 3 $675,000 $225,000 $1,338 5.04%
    36% 2 $460,000 $230,000 $1,304 5.44%
    41% 2 $260,000 $130,000 $1,134 4.38%
    37% 1 $135,000 $135,000 $0 5.50%
    45% 1 $5,000 $5,000 $10 5.75%

    Prime Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $5,005,000 $84,831 $1,120 5.11%
    Black 17 $1,165,000 $68,529 $1,068 4.48%
    Asian 1 $585,000 $585,000 $1,047 3.63%

    Approval Rates

    Total approvals of all applications
    68.53%

    Prime Financial Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -12.99%

    Prime Financial 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 77 $6,755,000 $87,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 77 $6,755,000 $87,727

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $420,000 $42,000 $960 4.95%
    40-60% 3 $245,000 $81,667 $1,153 3.88%
    60-80% 25 $3,645,000 $145,800 $1,338 4.61%
    80-100% 11 $1,475,000 $134,091 $1,567 4.74%
    Under 20% 28 $970,000 $34,643 $654 5.45%