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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Milwaukee, Racine, Madison, Whitewater, and Green Bay among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prime Financial 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. 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% 11/22/24
    30 Year Conventional Refi 6.95% 11/22/24
    30 Year Cash-out Refi 5.95% 11/22/24
    30 Year USDA Refi 6.93% 11/22/24
    15 Year Conventional Refi 7.70% 11/22/24
    15 Year Cash-out Refi 7.70% 11/22/24
    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

    159

    Origination Dollar Volume (All Markets)

    $18,265,000

    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) 139 $15,655,000 $112,626 $1,207 3.86%
    RACINE, WI (FHA|USDA|VA) 7 $1,145,000 $163,571 $1,111 3.21%
    Outside of Metro Areas 6 $640,000 $106,667 $1,826 3.92%
    MADISON, WI (FHA|USDA|VA) 2 $310,000 $155,000 $1,580 4.25%
    Whitewater, WI (FHA|USDA|VA) 2 $300,000 $150,000 $1,272 3.31%
    GREEN BAY, WI (FHA|USDA|VA) 1 $115,000 $115,000 $365 2.63%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $985 6.50%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.25%
    Prime Financial Credit Union's top markets include Milwaukee, Racine, Madison, Whitewater, and Green Bay 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.

    Hometown Bank
    Similarity Rank: 144
    The Greenwood's State Bank
    Similarity Rank: 432
    Empower Credit Union
    Similarity Rank: 459
    Horicon Bank
    Similarity Rank: 540
    Westbury Bank
    Similarity Rank: 612
    Fox Valley Savings Bank
    Similarity Rank: 952
    Guardian Credit Union
    Similarity Rank: 999
    NORTHWESTERN MUTUAL
    Similarity Rank: 1016
    State Bank of Cross Plains
    Similarity Rank: 1120
    Commerce State Bank
    Similarity Rank: 1292

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $17,030,000 $123,406 $1,236 3.79%
    HELOC 20 $1,040,000 $52,000 n/a 4.23%
    FHA 1 $195,000 $195,000 $330 2.63%

    For 2020, Prime Financial Credit Union's most frequently originated type of loan was Conventional, with 138 originations. Their 2nd most popular type was HELOC, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 71 $6,125,000 $86,268 $1,066 4.11%
    Home Purchase 44 $6,100,000 $138,636 $1,716 4.03%
    Refi 42 $5,990,000 $142,619 $871 3.05%
    Home Improvement 1 $15,000 $15,000 $0 6.75%
    Other 1 $35,000 $35,000 $1,555 5.25%

    For 2020, Prime Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 71 originations. The 2nd most popular reason was Home Purchase, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 108 $13,520,000 $125,185 $1,227 3.57%
    30 Year 23 $2,755,000 $119,783 $1,567 4.50%
    10 Year 15 $745,000 $49,667 $625 4.16%
    15 Year 7 $725,000 $103,571 $1,246 4.00%
    20 Year 5 $515,000 $103,000 $1,500 4.43%
    5 Year 1 $5,000 $5,000 $600 7.75%

    For 2020, Prime Financial Credit Union's most frequently cited loan duration was Other, with 108 originations. The 2nd most popular length was 30 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 132 $16,830,000 $127,500

    Prime Financial Credit Union's average total fees were $1,567, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 132 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 46 $7,130,000 $155,000
    2.5-3% 46 $5,940,000 $129,130
    4-5% 45 $3,915,000 $87,000
    5-6% 7 $425,000 $60,714
    6-7% 7 $335,000 $47,857
    <2.5% 6 $490,000 $81,667
    7-8% 2 $30,000 $15,000

    During 2020, Prime Financial Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 3-4%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 79 $4,245,000 $53,734 $1,144 4.20%
    $100k-200k 64 $9,200,000 $143,750 $1,267 3.47%
    $200k-400k 14 $3,790,000 $270,714 $1,429 3.54%
    $400k-600k 2 $1,030,000 $515,000 $1,060 3.19%

    2020 saw Prime Financial Credit Union place emphasis on $100,000 or less loans with 79 originations, totaling $4,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 44 $4,940,000 $112,273 $1,292 3.72%
    $50k or less 41 $2,985,000 $72,805 $1,343 4.28%
    $75k-100k 31 $3,305,000 $106,613 $1,170 3.57%
    $150k-250k 22 $3,580,000 $162,727 $988 3.79%
    $100k-150k 18 $2,840,000 $157,778 $1,152 3.52%
    $250k+ 3 $615,000 $205,000 $1,202 4.33%

    Prime Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $50k or less, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $5,925,000 $111,792 $1,236 3.81%
    <20% 22 $2,340,000 $106,364 $1,007 3.27%
    30-36% 21 $2,465,000 $117,381 $1,402 3.92%
    36% 10 $880,000 $88,000 $1,412 4.26%
    38% 7 $765,000 $109,286 $1,140 3.38%
    45% 6 $500,000 $83,333 $1,299 5.19%
    43% 6 $650,000 $108,333 $1,351 4.29%
    39% 6 $540,000 $90,000 $846 3.64%
    44% 5 $745,000 $149,000 $1,340 3.45%
    41% 4 $640,000 $160,000 $1,397 3.38%
    40% 4 $450,000 $112,500 $1,591 3.94%
    42% 3 $745,000 $248,333 $975 3.96%
    37% 3 $435,000 $145,000 $988 3.79%
    47% 3 $345,000 $115,000 $1,098 4.67%
    46% 2 $220,000 $110,000 $1,300 5.56%
    48% 2 $210,000 $105,000 $1,038 2.69%
    49% 2 $410,000 $205,000 $1,640 4.19%

    Prime Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? <20%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 123 $14,805,000 $120,366 $1,210 3.77%
    Black 33 $2,605,000 $78,939 $1,326 4.14%
    Asian 2 $660,000 $330,000 $810 2.94%
    Not provided 1 $195,000 $195,000 $1,324 3.75%

    Approval Rates

    Total approvals of all applications
    88.51%

    Prime Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.57%

    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 159 $18,265,000 $114,874

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 159 $18,265,000 $114,874

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $555,000 $61,667 $656 3.31%
    40-60% 23 $2,385,000 $103,696 $960 3.02%
    60-80% 55 $6,805,000 $123,727 $1,225 3.85%
    80-100% 46 $7,450,000 $161,957 $1,532 3.70%
    Under 20% 24 $970,000 $40,417 $716 4.96%