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 and Refi loans. Western Cooperative Credit Union has a high proportion of conventional loans. They also have a high ratio of USDA loans. They have an average proportion of FHA 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.

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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

    112

    Origination Dollar Volume (All Markets)

    $21,280,000

    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
    Williston, ND (FHA|USDA|VA) 46 $9,570,000 $208,043 $5,860 3.26%
    Dickinson, ND (FHA|USDA|VA) 52 $9,300,000 $178,846 $5,343 3.79%
    Outside of Metro Areas 11 $1,885,000 $171,364 $4,912 3.66%
    BISMARCK, ND (FHA|USDA|VA) 3 $525,000 $175,000 $5,008 3.00%
    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.

    American Bank Center
    Similarity Rank: 102
    WESTERN COOPERATIVE CREDIT UNION
    Similarity Rank: 156
    Unify Home Lending Inc.
    Similarity Rank: 195
    Dakota Community Bank & Trust
    Similarity Rank: 342
    Choice Financial Group
    Similarity Rank: 410
    First International Bank & Trust
    Similarity Rank: 920
    Gate City Bank
    Similarity Rank: 2130
    Servion, Inc.
    Similarity Rank: 4680
    ARK-LA-TEX FINANCIAL SERVICES, LLC.
    Similarity Rank: 7605
    LOANDEPOT.COM, LLC
    Similarity Rank: 8280

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $9,485,000 $166,404 $3,139 4.18%
    USDA 35 $7,235,000 $206,714 $7,314 2.75%
    FHA 17 $3,815,000 $224,412 $9,394 3.14%
    VA 3 $745,000 $248,333 $8,087 2.68%

    For 2021, Western Cooperative Credit Union's most frequently originated type of loan was Conventional, with 57 originations. Their 2nd most popular type was USDA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $14,600,000 $221,212 $7,418 2.93%
    Refi 39 $6,175,000 $158,333 $3,128 4.17%
    Home Improvement 5 $195,000 $39,000 $441 6.04%
    Other 1 $105,000 $105,000 $612 6.70%
    Cash Out Refi 1 $205,000 $205,000 $4,570 3.25%

    For 2021, Western Cooperative Credit Union's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $18,125,000 $223,765 $7,056 2.99%
    15 Year 10 $1,420,000 $142,000 $2,949 3.22%
    5 Year 10 $900,000 $90,000 $720 5.91%
    10 Year 8 $380,000 $47,500 $732 5.84%
    Other 3 $455,000 $151,667 $1,507 5.34%

    For 2021, Western Cooperative Credit Union's most frequently cited loan duration was 30 Year, with 81 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 26 $5,790,000 $222,692
    $2k-3k 24 $4,280,000 $178,333
    $<1k 23 $1,895,000 $82,391
    $4k-5k 19 $5,215,000 $274,474
    $1k-2k 14 $1,740,000 $124,286
    $5k+ 6 $2,360,000 $393,333

    Western Cooperative Credit Union's average total fees were $7,056, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 39 $8,955,000 $229,615
    2.5-3% 29 $6,475,000 $223,276
    <2.5% 23 $4,175,000 $181,522
    5-6% 13 $1,245,000 $95,769
    6-7% 8 $430,000 $53,750

    During 2021, Western Cooperative Credit Union's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 3-4%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 55 $14,215,000 $258,455 $7,287 3.16%
    $100k-200k 32 $4,890,000 $152,813 $5,323 3.06%
    $100,000 or less 23 $1,155,000 $50,217 $1,111 5.13%
    $400k-600k 2 $1,020,000 $510,000 $8,013 3.06%

    2021 saw Western Cooperative Credit Union place emphasis on $200k-400k loans with 55 originations, totaling $14,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $6,900,000 $181,579 $6,137 3.30%
    $75k-100k 30 $5,790,000 $193,000 $5,873 3.32%
    $100k-150k 22 $4,640,000 $210,909 $4,947 4.27%
    $50k or less 11 $1,485,000 $135,000 $4,813 2.92%
    $150k-250k 9 $1,705,000 $189,444 $3,708 4.44%
    $250k+ 2 $760,000 $380,000 $6,577 2.56%

    Western Cooperative Credit Union lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $5,195,000 $179,138 $4,601 3.51%
    30-36% 19 $4,405,000 $231,842 $7,029 2.99%
    <20% 15 $2,025,000 $135,000 $3,377 3.69%
    36% 8 $1,430,000 $178,750 $5,556 3.32%
    40% 7 $1,065,000 $152,143 $3,877 4.49%
    41% 6 $1,500,000 $250,000 $5,360 3.90%
    43% 5 $975,000 $195,000 $7,456 3.50%
    38% 5 $1,145,000 $229,000 $7,792 2.90%
    37% 5 $1,135,000 $227,000 $7,752 2.95%
    50-60% 4 $770,000 $192,500 $7,289 3.96%
    44% 3 $515,000 $171,667 $4,903 4.40%
    42% 2 $390,000 $195,000 $6,398 4.85%
    39% 1 $145,000 $145,000 $3,050 2.13%
    45% 1 $265,000 $265,000 $8,369 3.00%
    46% 1 $275,000 $275,000 $11,261 3.65%
    47% 1 $45,000 $45,000 $421 6.70%

    Western Cooperative Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 101 $18,675,000 $184,901 $5,363 3.54%
    Not provided 8 $1,980,000 $247,500 $7,619 3.30%
    American Indian 1 $225,000 $225,000 $4,760 3.75%
    Black 1 $225,000 $225,000 $1,478 5.40%
    Asian 1 $175,000 $175,000 $8,093 3.00%

    Approval Rates

    Total approvals of all applications
    93.84%

    Western Cooperative Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.64%

    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 112 $21,280,000 $190,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    112 $21,280,000 $190,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $990,000 $99,000 $1,504 4.55%
    40-60% 5 $1,075,000 $215,000 $3,086 4.29%
    60-80% 15 $2,985,000 $199,000 $4,653 3.34%
    80-100% 67 $15,005,000 $223,955 $7,154 3.06%
    Over 100% 3 $785,000 $261,667 $9,950 2.51%
    Under 20% 12 $440,000 $36,667 $776 5.58%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 1 100.0%