Educators Credit Union Mortgage Rates, Fees & InfoMount Pleasant, WI
Tax ID: 39-0555293
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewEducators Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Educators Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Racine, Chicago, Whitewater, and Janesville among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)
Educators 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. Educators 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.17%||3/24/23|
|30 Year Conventional Refi||5.98%||3/24/23|
|30 Year Cash-out Refi||6.07%||3/24/23|
|30 Year VA Purchase||6.47%||3/24/23|
|15 Year Conventional Purchase||6.05%||3/24/23|
|15 Year Conventional Refi||5.91%||3/24/23|
|15 Year Cash-out Refi||5.91%||3/24/23|
|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.|
Origination Dollar Volume (All Markets)$489,685,000
Educators Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.58%.
Relative Fees (Closing Costs)
Educators Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,621.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||1,927||$248,215,000||$128,809||$1,054||4.40%|
|RACINE, WI (FHA|USDA|VA)||1,219||$132,755,000||$108,905||$964||4.43%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||421||$50,815,000||$120,701||$1,136||4.35%|
|Whitewater, WI (FHA|USDA|VA)||133||$18,795,000||$141,316||$1,055||4.61%|
|JANESVILLE-BELOIT, WI (FHA|USDA|VA)||149||$15,135,000||$101,577||$964||4.47%|
|Outside of Metro Areas||46||$8,820,000||$191,739||$1,616||4.45%|
|Watertown-Fort Atkinson, WI (FHA|USDA|VA)||18||$2,640,000||$146,667||$1,079||4.67%|
|GREEN BAY, WI (FHA|USDA|VA)||11||$2,055,000||$186,818||$1,367||4.08%|
|MADISON, WI (FHA|USDA|VA)||11||$1,695,000||$154,091||$1,372||4.33%|
|ROCKFORD, IL (FHA|USDA|VA)||5||$1,115,000||$223,000||$2,783||3.88%|
|WAUSAU-WESTON, WI (FHA|USDA|VA)||7||$1,015,000||$145,000||$1,139||4.66%|
|Beaver Dam, WI (FHA|USDA|VA)||8||$990,000||$123,750||$975||4.92%|
|Marinette, WI-MI (FHA|USDA|VA)||7||$955,000||$136,429||$1,468||4.66%|
|SHEBOYGAN, WI (FHA|USDA|VA)||7||$775,000||$110,714||$1,203||5.09%|
|Manitowoc, WI (FHA|USDA|VA)||6||$730,000||$121,667||$938||4.30%|
|OSHKOSH-NEENAH, WI (FHA|USDA|VA)||3||$585,000||$195,000||$1,909||4.83%|
|FOND DU LAC, WI (FHA|USDA|VA)||3||$495,000||$165,000||$1,726||4.79%|
|MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)||3||$475,000||$158,333||$1,490||3.83%|
|APPLETON, WI (FHA|USDA|VA)||4||$370,000||$92,500||$1,280||4.35%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||1||$295,000||$295,000||$2,289||5.25%|
|Iron Mountain, MI-WI (FHA|USDA|VA)||2||$270,000||$135,000||$1,553||4.00%|
|Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)||2||$240,000||$120,000||$1,857||3.94%|
|Platteville, WI (FHA|USDA|VA)||1||$215,000||$215,000||$1,435||5.63%|
|Shawano, WI (FHA|USDA|VA)||2||$190,000||$95,000||$1,438||3.44%|
|Stevens Point, WI (FHA|USDA|VA)||1||$45,000||$45,000||$101||3.40%|
We use machine learning to identify the top lenders compared against EDUCATORS 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Educators Credit Union's most frequently originated type of loan was Conventional, with 3,033 originations. Their 2nd most popular type was HELOC, with 958 originations.
For 2022, Educators Credit Union's most frequently cited loan purpose was Other, with 1,596 originations. The 2nd most popular reason was Cash Out Refi, with 1,128 originations.
For 2022, Educators Credit Union's most frequently cited loan duration was 10 Year, with 1,671 originations. The 2nd most popular length was 30 Year, with 1,413 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Educators Credit Union's average total fees were $1,621, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,616 originations.
During 2022, Educators Credit Union's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 1,477 originations.
2022 saw Educators Credit Union place emphasis on $100,000 or less loans with 2,243 originations, totaling $97,825,000 in origination value.
Educators Credit Union lent most frequently to those with incomes in the $100k-150k range, with 969 originations. The second most popular income band? $50k-75k, with 923 originations.
Applicant Debt to Income Ratio
Educators Credit Union lent most frequently to those with DTI ratios of 20-30%, with 999 originations. The next most common DTI ratio? 30-36%, with 846 originations.
Approval RatesTotal approvals of all applications
Educators Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Educators Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|