Western Cooperative Credit Union Mortgage Rates, Fees & Info

Williston, ND

LEI: 549300OPWL6MYY9SXF04

Tax ID: 45-0216652

5 stars - Updated: 11/17/24 - out of 5 stars, based on 10 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Western Cooperative Credit Union is a smaller credit union specializing in Home Purchase loans. Western Cooperative Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Williston, Dickinson, Bismarck, and Minot among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Western Cooperative Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Western Cooperative Credit Union is typically an average 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 relatively high 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 6.55% 11/17/24
    30 Year Conventional Refi 6.70% 11/17/24
    30 Year Cash-out Refi 6.49% 11/17/24
    30 Year FHA Purchase 7.43% 11/17/24
    30 Year FHA Refi 7.36% 11/17/24
    30 Year VA Purchase 5.63% 11/17/24
    30 Year USDA Purchase 6.57% 11/17/24
    15 Year Conventional Refi 6.08% 11/17/24
    15 Year Cash-out Refi 6.08% 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.

    Western Cooperative Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Western Cooperative 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

    101

    Origination Dollar Volume (All Markets)

    $17,595,000

    Awards

    WESTERN COOPERATIVE CREDIT UNION USDA Loans gold
    Show all (1) awards

    Relative Rate

    Western Cooperative Credit Union's average 30 year fixed mortgage rate was 6.45%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    Western Cooperative Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,125.

    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 $9,089.

    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
    Williston, ND (FHA|USDA|VA) 33 $7,805,000 $236,515 $6,134 6.42%
    Dickinson, ND (FHA|USDA|VA) 51 $7,575,000 $148,529 $3,865 6.35%
    Outside of Metro Areas 13 $1,765,000 $135,769 $4,421 6.66%
    BISMARCK, ND (FHA|USDA|VA) 3 $285,000 $95,000 $1,682 6.23%
    Minot, ND (FHA|USDA|VA) 1 $165,000 $165,000 $4,197 6.75%
    Western Cooperative Credit Union's top markets include Williston, Dickinson, Bismarck, and Minot among others.

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

    • Similar Lenders

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

    WESTERN COOPERATIVE CREDIT UNION
    Similarity Rank: 20
    Unify Home Lending Inc.
    Similarity Rank: 66
    American Bank Center
    Similarity Rank: 75
    Dakota Community Bank & Trust
    Similarity Rank: 90
    Choice Financial Group
    Similarity Rank: 351
    Gate City Bank
    Similarity Rank: 583
    Mortgage Research Center, LLC
    Similarity Rank: 1836
    ARK-LA-TEX FINANCIAL SERVICES, LLC.
    Similarity Rank: 5797
    Bank of England
    Similarity Rank: 7536
    U.S. Bank
    Similarity Rank: 8290

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 73 $10,985,000 $150,479 $2,784 6.42%
    FHA 15 $3,725,000 $248,333 $10,172 6.79%
    USDA 12 $2,510,000 $209,167 $7,420 5.96%
    VA 1 $375,000 $375,000 $14,707 6.00%

    For 2023, Western Cooperative Credit Union's most frequently originated type of loan was Conventional, with 73 originations. Their 2nd most popular type was FHA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $13,495,000 $236,754 $7,061 6.41%
    Home Improvement 24 $1,550,000 $64,583 $859 6.38%
    Refi 16 $1,510,000 $94,375 $929 6.33%
    Cash Out Refi 4 $1,040,000 $260,000 $4,438 7.08%

    For 2023, Western Cooperative Credit Union's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Home Improvement, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $13,250,000 $236,607 $7,125 6.45%
    5 Year 16 $1,220,000 $76,250 $955 6.22%
    15 Year 14 $1,400,000 $100,000 $1,221 6.57%
    10 Year 11 $515,000 $46,818 $631 6.42%
    Other 4 $1,210,000 $302,500 $4,470 6.13%

    For 2023, Western Cooperative Credit Union's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 5 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 41 $3,095,000 $75,488
    $2k-3k 17 $4,145,000 $243,824
    $3k-4k 16 $3,910,000 $244,375
    $1k-2k 13 $1,425,000 $109,615
    $4k-5k 7 $2,275,000 $325,000
    $5k+ 7 $2,745,000 $392,143

    Western Cooperative Credit Union's average total fees were $7,125, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 47 $8,675,000 $184,574
    5-6% 32 $5,630,000 $175,938
    7-8% 13 $2,125,000 $163,462
    Over 8% 5 $675,000 $135,000
    4-5% 3 $315,000 $105,000
    3-4% 1 $175,000 $175,000

    During 2023, Western Cooperative Credit Union's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 6-7%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 41 $2,285,000 $55,732 $1,447 6.49%
    $200k-400k 36 $9,840,000 $273,333 $8,087 6.41%
    $100k-200k 18 $2,660,000 $147,778 $3,930 6.16%
    $400k-600k 6 $2,810,000 $468,333 $7,053 6.68%

    2023 saw Western Cooperative Credit Union place emphasis on $100,000 or less loans with 41 originations, totaling $2,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 35 $7,775,000 $222,143 $5,952 6.53%
    $150k-250k 20 $4,180,000 $209,000 $3,831 6.62%
    $50k-75k 19 $2,595,000 $136,579 $4,299 6.11%
    $75k-100k 15 $1,945,000 $129,667 $4,409 6.30%
    $50k or less 9 $745,000 $82,778 $2,166 6.31%
    $250k+ 3 $355,000 $118,333 $2,797 6.48%

    Western Cooperative Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $4,775,000 $154,032 $3,789 6.28%
    30-36% 20 $4,170,000 $208,500 $5,819 6.34%
    <20% 13 $1,345,000 $103,462 $2,096 6.67%
    40% 5 $1,335,000 $267,000 $7,410 6.03%
    39% 5 $1,365,000 $273,000 $7,249 6.31%
    43% 5 $665,000 $133,000 $3,100 6.55%
    41% 4 $980,000 $245,000 $4,633 6.40%
    38% 4 $830,000 $207,500 $5,998 6.59%
    36% 3 $395,000 $131,667 $3,693 6.51%
    46% 2 $360,000 $180,000 $4,180 6.79%
    37% 2 $240,000 $120,000 $4,564 5.93%
    50-60% 2 $750,000 $375,000 $14,625 6.99%
    42% 2 $90,000 $45,000 $2,236 7.28%
    45% 2 $240,000 $120,000 $4,136 6.43%
    47% 1 $55,000 $55,000 $650 7.00%

    Western Cooperative Credit Union lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $16,510,000 $179,457 $4,602 6.41%
    Asian 3 $425,000 $141,667 $5,814 5.79%
    American Indian 2 $350,000 $175,000 $3,672 6.80%
    Not provided 3 $255,000 $85,000 $3,490 6.30%
    Black 1 $55,000 $55,000 $4,585 8.38%

    Approval Rates

    Total approvals of all applications
    96.20%

    Western Cooperative Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    66.34%

    Western Cooperative 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 101 $17,595,000 $174,208

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    101 $17,595,000 $174,208

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,285,000 $75,588 $1,098 6.36%
    40-60% 8 $900,000 $112,500 $2,406 6.45%
    60-80% 13 $2,615,000 $201,154 $3,377 6.17%
    80-100% 46 $11,730,000 $255,000 $7,517 6.44%
    Over 100% 1 $375,000 $375,000 $14,707 6.00%
    Under 20% 16 $690,000 $43,125 $853 6.60%