Dane County Credit Union Mortgage Rates, Fees & Info

Madison, WI

LEI: 549300DV8URIHEH3DE77

Tax ID: 39-6047472

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

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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

    Dane County Credit Union is a smaller credit union specializing in Home Improvement, Other, and Refi loans. Dane County Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Watertown, Baraboo, La Crosse, and Janesville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dane County 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. Dane County 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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    Originations

    309

    Origination Dollar Volume (All Markets)

    $18,985,000

    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
    MADISON, WI (FHA|USDA|VA) 278 $17,460,000 $62,806 $227 4.76%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 7 $345,000 $49,286 $794 4.64%
    Baraboo, WI (FHA|USDA|VA) 7 $325,000 $46,429 $596 5.39%
    Outside of Metro Areas 7 $325,000 $46,429 $177 4.28%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $240,000 $120,000 $306 3.62%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 4 $140,000 $35,000 $215 4.62%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,700 4.24%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $50,000 $25,000 $199 4.62%
    Beaver Dam, WI (FHA|USDA|VA) 1 $35,000 $35,000 $310 4.99%
    Dane County Credit Union's top markets include Madison, Watertown, Baraboo, La Crosse, and Janesville among others.

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

    • Similar Lenders

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

    HERITAGE CREDIT UNION
    Similarity Rank: 78
    United Community Bank
    Similarity Rank: 147
    Landmark Credit Union
    Similarity Rank: 192
    State Bank of Cross Plains
    Similarity Rank: 207
    Mound City Bank
    Similarity Rank: 280
    Farmers and Merchants Union Bank
    Similarity Rank: 288
    The First National Bank and Trust Company
    Similarity Rank: 289
    Heartland Credit Union (Madison)
    Similarity Rank: 403
    Oregon Community Bank
    Similarity Rank: 407
    Summit Credit Union
    Similarity Rank: 555

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 309 $18,985,000 $61,440 $250 4.75%

    For 2018, Dane County Credit Union's most frequently originated type of loan was Conventional, with 309 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 104 $4,830,000 $46,442 $174 4.76%
    Other 97 $5,775,000 $59,536 $259 5.13%
    Refi 79 $5,425,000 $68,671 $200 4.49%
    Home Purchase 28 $2,780,000 $99,286 $1,010 4.20%
    Cash Out Refi 1 $175,000 $175,000 $180 3.99%

    For 2018, Dane County Credit Union's most frequently cited loan purpose was Home Improvement, with 104 originations. The 2nd most popular reason was Other, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 223 $12,255,000 $54,955 $181 4.88%
    Other 31 $2,085,000 $67,258 $325 4.31%
    15 Year 22 $1,900,000 $86,364 $442 4.37%
    5 Year 13 $325,000 $25,000 $188 4.90%
    30 Year 12 $1,820,000 $151,667 $1,856 3.75%
    20 Year 7 $505,000 $72,143 $203 5.25%
    30+ year 1 $95,000 $95,000 $222 5.00%

    For 2018, Dane County Credit Union's most frequently cited loan duration was 10 Year, with 223 originations. The 2nd most popular length was Other, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 11 $1,085,000 $98,636
    $1k-2k 5 $795,000 $159,000

    Dane County Credit Union's average total fees were $1,856, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 127 $9,275,000 $73,031
    4-5% 91 $5,905,000 $64,890
    6-7% 41 $1,675,000 $40,854
    5-6% 39 $1,595,000 $40,897
    7-8% 8 $380,000 $47,500
    2.5-3% 3 $155,000 $51,667

    During 2018, Dane County Credit Union's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 256 $11,240,000 $43,906 $201 4.85%
    $100k-200k 51 $7,325,000 $143,627 $520 4.29%
    $200k-400k 2 $420,000 $210,000 $159 3.88%

    2018 saw Dane County Credit Union place emphasis on $100,000 or less loans with 256 originations, totaling $11,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $4,760,000 $64,324 $270 4.76%
    $50k-75k 71 $3,845,000 $54,155 $258 4.81%
    $75k-100k 67 $4,275,000 $63,806 $257 4.69%
    $50k or less 50 $2,460,000 $49,200 $187 4.72%
    $150k-250k 35 $2,345,000 $67,000 $276 4.85%
    $250k+ 11 $1,175,000 $106,818 $218 4.57%

    Dane County Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $50k-75k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 79 $4,675,000 $59,177 $199 4.70%
    <20% 58 $3,850,000 $66,379 $295 4.56%
    30-36% 56 $3,150,000 $56,250 $231 4.84%
    37% 12 $580,000 $48,333 $182 4.70%
    38% 10 $400,000 $40,000 $173 4.62%
    41% 10 $520,000 $52,000 $173 5.17%
    43% 10 $590,000 $59,000 $250 4.75%
    44% 9 $615,000 $68,333 $833 5.02%
    36% 9 $655,000 $72,778 $160 4.30%
    40% 9 $795,000 $88,333 $144 4.55%
    >60% 6 $370,000 $61,667 $152 4.92%
    39% 6 $360,000 $60,000 $439 4.28%
    42% 6 $420,000 $70,000 $173 5.46%
    45% 6 $340,000 $56,667 $136 5.58%
    46% 6 $470,000 $78,333 $640 4.66%
    47% 6 $230,000 $38,333 $171 5.00%
    49% 5 $395,000 $79,000 $177 4.85%
    48% 4 $260,000 $65,000 $198 5.50%
    50-60% 2 $310,000 $155,000 $280 4.75%

    Dane County Credit Union lent most frequently to those with DTI ratios of 20-30%, with 79 originations. The next most common DTI ratio? <20%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 275 $16,275,000 $59,182 $241 4.76%
    Not provided 21 $1,655,000 $78,810 $267 4.63%
    Black 7 $575,000 $82,143 $609 4.53%
    Asian 5 $465,000 $93,000 $176 4.99%
    American Indian 1 $15,000 $15,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    80.97%

    Dane County Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.81%

    Dane County 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 309 $18,985,000 $61,440

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $390,000 $48,750
    Single Family (1-4 Units):Site-Built 301 $18,595,000 $61,777

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 81 $5,605,000 $69,198 $198 4.49%
    40-60% 31 $3,675,000 $118,548 $294 4.32%
    60-80% 20 $2,790,000 $139,500 $819 3.95%
    80-100% 5 $655,000 $131,000 $2,030 4.70%
    Over 100% 1 $135,000 $135,000 $0 4.75%
    Under 20% 171 $6,125,000 $35,819 $181 5.05%