Western Cooperative Credit Union Mortgage Rates, Fees & Info

Williston, ND

LEI: 549300OPWL6MYY9SXF04

Tax ID: 45-0216652

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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. They have a a high proportion of FHA loans. Western Cooperative Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Williston, Dickinson, and Bismarck among others. We have data for 4 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 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 6.55% 11/21/24
    30 Year Conventional Refi 6.70% 11/21/24
    30 Year Cash-out Refi 6.49% 11/21/24
    30 Year FHA Purchase 7.43% 11/21/24
    30 Year FHA Refi 7.36% 11/21/24
    30 Year VA Purchase 5.63% 11/21/24
    30 Year USDA Purchase 6.57% 11/21/24
    15 Year Conventional Refi 6.08% 11/21/24
    15 Year Cash-out Refi 6.08% 11/21/24
    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

    136

    Origination Dollar Volume (All Markets)

    $26,490,000
    Show all (5) 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
    Williston, ND (FHA|USDA|VA) 79 $16,965,000 $214,747 $7,335 4.47%
    Dickinson, ND (FHA|USDA|VA) 45 $7,715,000 $171,444 $4,787 26.04%
    Outside of Metro Areas 8 $1,170,000 $146,250 $4,313 4.82%
    BISMARCK, ND (FHA|USDA|VA) 4 $640,000 $160,000 $1,536 5.46%
    Western Cooperative Credit Union's top markets include Williston, Dickinson, and Bismarck 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: 48
    First International Bank & Trust
    Similarity Rank: 370
    Premier Home Mortgage Inc.
    Similarity Rank: 384
    Gate City Bank
    Similarity Rank: 765
    MANN FINANCIAL INC.
    Similarity Rank: 819
    ARK-LA-TEX FINANCIAL SERVICES, LLC.
    Similarity Rank: 1799
    Mortgage Research Center, LLC
    Similarity Rank: 1804
    AMCAP MORTGAGE, LTD.
    Similarity Rank: 1890
    HOME POINT FINANCIAL CORPORATION
    Similarity Rank: 2596
    Servion, Inc.
    Similarity Rank: 2769

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 55 $12,785,000 $232,455 $8,723 4.42%
    USDA 39 $7,395,000 $189,615 $6,399 3.99%
    Conventional 33 $4,035,000 $122,273 $1,295 34.76%
    VA 9 $2,275,000 $252,778 $6,663 4.39%

    For 2018, Western Cooperative Credit Union's most frequently originated type of loan was FHA, with 55 originations. Their 2nd most popular type was USDA, with 39 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $22,260,000 $218,235 $7,524 4.23%
    Refi 15 $2,345,000 $156,333 $2,036 69.40%
    Cash Out Refi 11 $1,625,000 $147,727 $2,861 5.64%
    Home Improvement 8 $260,000 $32,500 $412 6.33%

    For 2018, Western Cooperative Credit Union's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 104 $23,020,000 $221,346 $7,695 4.20%
    5 Year 13 $1,505,000 $115,769 $691 6.21%
    Other 9 $1,425,000 $158,333 $1,487 112.05%
    10 Year 7 $355,000 $50,714 $759 5.85%
    15 Year 3 $185,000 $61,667 $1,152 6.05%

    For 2018, Western Cooperative Credit Union's most frequently cited loan duration was 30 Year, with 104 originations. The 2nd most popular length was 5 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 48 $10,300,000 $214,583
    $3k-4k 35 $8,855,000 $253,000
    $1k-2k 14 $1,820,000 $130,000
    $4k-5k 8 $2,140,000 $267,500
    $<1k 5 $365,000 $73,000

    Western Cooperative Credit Union's average total fees were $7,695, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 69 $15,285,000 $221,522
    3-4% 33 $6,725,000 $203,788
    5-6% 26 $3,660,000 $140,769
    6-7% 5 $575,000 $115,000
    7-8% 2 $50,000 $25,000
    Over 8% 1 $195,000 $195,000

    During 2018, Western Cooperative Credit Union's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 4-5%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 74 $19,160,000 $258,919 $8,086 4.40%
    $100k-200k 38 $6,080,000 $160,000 $5,283 29.54%
    $100,000 or less 24 $1,250,000 $52,083 $1,377 5.70%

    2018 saw Western Cooperative Credit Union place emphasis on $200k-400k loans with 74 originations, totaling $19,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $9,185,000 $248,243 $8,040 4.56%
    $75k-100k 34 $7,080,000 $208,235 $6,467 4.46%
    $50k-75k 32 $5,790,000 $180,938 $5,620 4.52%
    $50k or less 20 $2,510,000 $125,500 $4,894 4.40%
    $150k-250k 13 $1,925,000 $148,077 $3,120 79.38%

    Western Cooperative Credit Union lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $8,165,000 $181,444 $5,684 4.74%
    30-36% 29 $5,865,000 $202,241 $6,473 4.58%
    <20% 8 $1,370,000 $171,250 $5,172 4.73%
    50-60% 7 $1,225,000 $175,000 $6,179 4.66%
    38% 6 $1,350,000 $225,000 $7,832 4.14%
    39% 5 $1,175,000 $235,000 $8,683 4.35%
    37% 5 $1,085,000 $217,000 $7,413 4.48%
    41% 5 $865,000 $173,000 $4,624 196.42%
    36% 5 $1,225,000 $245,000 $8,661 4.39%
    45% 4 $820,000 $205,000 $6,320 4.06%
    42% 4 $1,050,000 $262,500 $7,627 4.51%
    44% 3 $265,000 $88,333 $2,396 5.33%
    40% 3 $525,000 $175,000 $6,978 3.68%
    43% 3 $705,000 $235,000 $5,212 5.11%
    49% 2 $520,000 $260,000 $5,585 4.79%
    46% 2 $280,000 $140,000 $2,232 4.58%

    Western Cooperative Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 124 $23,650,000 $190,726 $6,029 12.38%
    Not provided 6 $1,340,000 $223,333 $7,604 4.08%
    American Indian 3 $805,000 $268,333 $6,744 4.63%
    Black 2 $460,000 $230,000 $8,204 3.50%
    Asian 1 $235,000 $235,000 $6,907 4.38%

    Approval Rates

    Total approvals of all applications
    97.76%

    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
    65.44%

    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 136 $26,490,000 $194,779

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $215,000 $215,000
    Single Family (1-4 Units):Site-Built 135 $26,275,000 $194,630

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $295,000 $42,143 $367 5.84%
    40-60% 7 $935,000 $133,571 $1,727 5.48%
    60-80% 10 $1,680,000 $168,000 $3,196 4.98%
    80-100% 103 $23,025,000 $223,544 $7,464 13.59%
    Over 100% 1 $315,000 $315,000 $11,577 4.50%
    Under 20% 8 $240,000 $30,000 $517 6.49%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 15 65.2%
    WESTERN UNION COMPANY, THE FHA mortgage Trouble during payment process 1 4.3%
    WESTERN UNION COMPANY, THE Other type of mortgage Trouble during payment process 3 13.0%
    WESTERN UNION COMPANY, THE VA mortgage Trouble during payment process 4 17.4%