Western Cooperative Credit Union Mortgage Rates, Fees & Info

Williston, ND

LEI: 549300OPWL6MYY9SXF04

Tax ID: 45-0216652

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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% 5/4/24
    30 Year Conventional Refi 6.70% 5/4/24
    30 Year Cash-out Refi 6.49% 5/4/24
    30 Year FHA Purchase 7.43% 5/4/24
    30 Year FHA Refi 7.36% 5/4/24
    30 Year VA Purchase 5.63% 5/4/24
    30 Year USDA Purchase 6.57% 5/4/24
    15 Year Conventional Refi 6.08% 5/4/24
    15 Year Cash-out Refi 6.08% 5/4/24
    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

    125

    Origination Dollar Volume (All Markets)

    $24,355,000
    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) 66 $13,270,000 $201,061 $5,981 4.55%
    Dickinson, ND (FHA|USDA|VA) 43 $8,555,000 $198,953 $6,537 4.15%
    Outside of Metro Areas 12 $2,040,000 $170,000 $6,417 4.18%
    BISMARCK, ND (FHA|USDA|VA) 4 $490,000 $122,500 $2,302 5.43%
    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: 112
    Choice Financial Group
    Similarity Rank: 320
    First International Bank & Trust
    Similarity Rank: 336
    Gate City Bank
    Similarity Rank: 1239
    OPEN MORTGAGE, LLC
    Similarity Rank: 1836
    Mortgage Research Center, LLC
    Similarity Rank: 1840
    Servion, Inc.
    Similarity Rank: 2241
    MANN FINANCIAL INC.
    Similarity Rank: 2800
    ARK-LA-TEX FINANCIAL SERVICES, LLC.
    Similarity Rank: 3438
    HOME POINT FINANCIAL CORPORATION
    Similarity Rank: 4434

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 45 $9,545,000 $212,111 $8,199 4.00%
    Conventional 40 $6,240,000 $156,000 $2,631 5.27%
    USDA 33 $6,535,000 $198,030 $6,727 4.05%
    VA 7 $2,035,000 $290,714 $9,409 3.70%

    For 2019, Western Cooperative Credit Union's most frequently originated type of loan was FHA, with 45 originations. Their 2nd most popular type was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $19,730,000 $224,205 $7,534 4.12%
    Refi 18 $3,210,000 $178,333 $3,896 4.81%
    Home Improvement 8 $750,000 $93,750 $2,270 5.18%
    Other 6 $320,000 $53,333 $454 5.72%
    Cash Out Refi 5 $345,000 $69,000 $1,618 5.14%

    For 2019, Western Cooperative Credit Union's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 96 $21,450,000 $223,438 $7,410 4.12%
    10 Year 13 $875,000 $67,308 $796 5.75%
    15 Year 7 $1,015,000 $145,000 $4,847 4.06%
    5 Year 7 $695,000 $99,286 $525 5.65%
    Other 2 $320,000 $160,000 $1,397 5.95%

    For 2019, Western Cooperative Credit Union's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was 10 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 39 $7,415,000 $190,128
    $3k-4k 29 $7,315,000 $252,241
    $4k-5k 16 $5,010,000 $313,125
    $1k-2k 13 $1,585,000 $121,923
    $<1k 7 $925,000 $132,143
    $5k+ 1 $435,000 $435,000

    Western Cooperative Credit Union's average total fees were $7,410, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 50 $11,360,000 $227,200
    3-4% 44 $9,080,000 $206,364
    5-6% 24 $2,670,000 $111,250
    2.5-3% 5 $1,065,000 $213,000
    6-7% 1 $105,000 $105,000
    7-8% 1 $75,000 $75,000

    During 2019, Western Cooperative Credit Union's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 4-5%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $15,080,000 $260,000 $7,973 4.19%
    $100k-200k 39 $6,055,000 $155,256 $5,895 4.19%
    $100,000 or less 24 $1,440,000 $60,000 $1,343 5.30%
    $400k-600k 4 $1,780,000 $445,000 $9,368 4.25%

    2019 saw Western Cooperative Credit Union place emphasis on $200k-400k loans with 58 originations, totaling $15,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 35 $7,155,000 $204,429 $6,422 4.38%
    $100k-150k 29 $5,965,000 $205,690 $6,397 4.45%
    $50k-75k 25 $4,685,000 $187,400 $6,799 4.14%
    $150k-250k 18 $3,970,000 $220,556 $5,026 4.69%
    $50k or less 14 $1,660,000 $118,571 $4,643 4.27%
    $250k+ 4 $920,000 $230,000 $6,593 5.14%

    Western Cooperative Credit Union lent most frequently to those with incomes in the $75k-100k range, with 35 originations. The second most popular income band? $100k-150k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $7,885,000 $202,179 $6,643 4.07%
    30-36% 23 $3,835,000 $166,739 $5,008 4.70%
    <20% 19 $3,725,000 $196,053 $5,407 4.49%
    50-60% 8 $1,740,000 $217,500 $7,501 4.12%
    36% 7 $1,245,000 $177,857 $6,496 4.37%
    46% 4 $620,000 $155,000 $5,940 5.21%
    42% 3 $855,000 $285,000 $6,818 4.83%
    37% 3 $525,000 $175,000 $6,352 4.93%
    38% 3 $665,000 $221,667 $6,007 4.23%
    39% 3 $525,000 $175,000 $5,495 4.44%
    45% 3 $555,000 $185,000 $3,611 4.87%
    48% 2 $350,000 $175,000 $5,370 4.65%
    40% 2 $550,000 $275,000 $9,871 4.00%
    44% 2 $470,000 $235,000 $5,506 4.94%
    43% 1 $155,000 $155,000 $6,788 3.75%
    47% 1 $235,000 $235,000 $9,700 4.45%
    >60% 1 $135,000 $135,000 $4,144 4.25%
    41% 1 $285,000 $285,000 $8,874 4.45%

    Western Cooperative Credit Union lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $21,950,000 $192,544 $6,006 4.43%
    Not provided 7 $1,535,000 $219,286 $7,123 4.14%
    Black 2 $450,000 $225,000 $7,031 3.73%
    Asian 1 $275,000 $275,000 $7,711 4.50%
    American Indian 1 $145,000 $145,000 $5,743 4.55%

    Approval Rates

    Total approvals of all applications
    94.38%

    Western Cooperative Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.80%

    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 125 $24,355,000 $194,840

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $585,000 $117,000
    Single Family (1-4 Units):Site-Built 120 $23,770,000 $198,083

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $780,000 $78,000 $1,397 5.42%
    40-60% 6 $530,000 $88,333 $2,441 5.06%
    60-80% 11 $2,105,000 $191,364 $5,277 4.51%
    80-100% 88 $19,920,000 $226,364 $7,319 4.15%
    Over 100% 3 $705,000 $235,000 $9,341 3.78%
    Under 20% 7 $315,000 $45,000 $469 5.68%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 7 70.0%
    WESTERN UNION COMPANY, THE Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    WESTERN UNION COMPANY, THE Other type of mortgage Trouble during payment process 2 20.0%