Verve A Credit Union Mortgage Rates, Fees & Info

Oshkosh, WI

LEI: 549300P6ZERWX5BPWX45

Tax ID: 39-0711674

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Verve A Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Verve A Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oshkosh, Green Bay, Appleton, Fond Du Lac, and Beaver Dam among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Verve A 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. Verve A 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.

    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
    Home Equity Line of Credit (HELOC) 6.46% 4/14/24
    30 Year Conventional Purchase 6.15% 4/14/24
    30 Year Conventional Refi 6.00% 4/14/24
    30 Year Cash-out Refi 6.16% 4/14/24
    30 Year FHA Purchase 7.97% 4/14/24
    15 Year Conventional Purchase 5.87% 4/14/24
    15 Year Conventional Refi 5.58% 4/14/24
    15 Year Cash-out Refi 5.58% 4/14/24
    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.

    Verve A Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Verve A 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

    1,017

    Origination Dollar Volume (All Markets)

    $192,545,000
    Show all (14) 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
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 468 $59,760,000 $127,692 $1,137 4.64%
    GREEN BAY, WI (FHA|USDA|VA) 27 $29,355,000 $1,087,222 $1,017 4.57%
    APPLETON, WI (FHA|USDA|VA) 129 $22,575,000 $175,000 $1,205 4.54%
    FOND DU LAC, WI (FHA|USDA|VA) 144 $17,430,000 $121,042 $1,210 4.58%
    Beaver Dam, WI (FHA|USDA|VA) 7 $14,265,000 $2,037,857 $1,233 4.73%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 86 $10,930,000 $127,093 $1,047 4.55%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 19 $10,215,000 $537,632 $1,368 4.42%
    Outside of Metro Areas 84 $9,320,000 $110,952 $1,146 4.35%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 4 $6,620,000 $1,655,000 $1,547 4.44%
    Manitowoc, WI (FHA|USDA|VA) 23 $2,825,000 $122,826 $1,325 4.72%
    RACINE, WI (FHA|USDA|VA) 3 $2,675,000 $891,667 $392 3.99%
    Stevens Point, WI (FHA|USDA|VA) 3 $1,895,000 $631,667 $2,291 4.13%
    Shawano, WI (FHA|USDA|VA) 3 $1,735,000 $578,333 $743 4.84%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $1,280,000 $640,000 $4,613 4.12%
    Marinette, WI-MI (FHA|USDA|VA) 4 $420,000 $105,000 $1,361 4.40%
    SHEBOYGAN, WI (FHA|USDA|VA) 2 $410,000 $205,000 $2,401 5.69%
    MADISON, WI (FHA|USDA|VA) 4 $390,000 $97,500 $1,674 4.75%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $225,000 $225,000 $2,041 3.74%
    Winona, MN (FHA|USDA|VA) 2 $130,000 $65,000 $349 4.49%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $45,000 $45,000 $810 6.63%
    Verve A Credit Union's top markets include Oshkosh, Green Bay, Appleton, Fond Du Lac, and Beaver Dam among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Similar Lenders

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

    AppleTree Credit Union
    Similarity Rank: 10
    NORTHWESTERN MUTUAL
    Similarity Rank: 12
    UNITEDONE Credit Union
    Similarity Rank: 24
    UNISON CREDIT UNION
    Similarity Rank: 28
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    Similarity Rank: 28
    Firefighters Credit Union
    Similarity Rank: 64
    PCM
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    Liberty Bank for Savings
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 863 $184,335,000 $213,598 $1,169 4.46%
    HELOC 154 $8,210,000 $53,312 n/a 5.27%

    For 2018, Verve A Credit Union's most frequently originated type of loan was Conventional, with 863 originations. Their 2nd most popular type was HELOC, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 396 $77,020,000 $194,495 $1,811 4.49%
    Other 296 $18,950,000 $64,020 $566 4.74%
    Home Improvement 116 $8,230,000 $70,948 $409 5.07%
    Cash Out Refi 114 $22,090,000 $193,772 $911 4.22%
    Refi 94 $66,070,000 $702,872 $993 4.30%
    NA 1 $185,000 $185,000 $0 4.95%

    For 2018, Verve A Credit Union's most frequently cited loan purpose was Home Purchase, with 396 originations. The 2nd most popular reason was Other, with 296 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 393 $67,175,000 $170,929 $1,609 4.29%
    20 Year 183 $12,135,000 $66,311 $1,467 5.14%
    10 Year 128 $6,490,000 $50,703 $466 4.58%
    15 Year 109 $8,735,000 $80,138 $888 4.88%
    5 Year 90 $71,980,000 $799,778 $292 4.72%
    Other 88 $14,440,000 $164,091 $641 4.28%
    3 Year 14 $7,430,000 $530,714 $242 4.59%
    30+ year 7 $3,335,000 $476,429 $2,798 3.45%
    1 Year 5 $825,000 $165,000 $0 5.25%

    For 2018, Verve A Credit Union's most frequently cited loan duration was 30 Year, with 393 originations. The 2nd most popular length was 20 Year, with 183 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 759 $93,775,000 $123,551

    Verve A Credit Union's average total fees were $1,609, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 759 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 478 $88,180,000 $184,477
    3-4% 291 $75,875,000 $260,739
    5-6% 185 $24,445,000 $132,135
    6-7% 31 $1,235,000 $39,839
    2.5-3% 16 $2,310,000 $144,375
    7-8% 12 $400,000 $33,333
    Over 8% 4 $100,000 $25,000

    During 2018, Verve A Credit Union's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 478 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 557 $27,115,000 $48,680 $698 4.80%
    $100k-200k 277 $40,165,000 $145,000 $1,544 4.34%
    $200k-400k 130 $35,030,000 $269,462 $1,840 4.26%
    $1MM+ 26 $76,290,000 $2,934,231 $6,965 4.47%
    $400k-600k 22 $10,030,000 $455,909 $2,027 4.20%
    $600k-1MM 5 $3,915,000 $783,000 $2,272 4.70%

    2018 saw Verve A Credit Union place emphasis on $100,000 or less loans with 557 originations, totaling $27,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 225 $15,725,000 $69,889 $992 4.43%
    $50k-75k 214 $18,170,000 $84,907 $1,095 4.63%
    $100k-150k 199 $28,635,000 $143,894 $1,244 4.53%
    $75k-100k 198 $22,130,000 $111,768 $1,232 4.64%
    $150k-250k 89 $16,615,000 $186,685 $1,425 4.55%
    $250k+ 16 $10,580,000 $661,250 $2,228 4.46%

    Verve A Credit Union lent most frequently to those with incomes in the $50k or less range, with 225 originations. The second most popular income band? $50k-75k, with 214 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 250 $25,550,000 $102,200 $1,118 4.44%
    30-36% 205 $23,075,000 $112,561 $1,196 4.59%
    <20% 113 $10,265,000 $90,841 $1,123 4.46%
    42% 53 $5,875,000 $110,849 $1,012 4.73%
    38% 44 $5,180,000 $117,727 $1,137 4.52%
    41% 40 $4,760,000 $119,000 $1,085 4.70%
    37% 36 $4,680,000 $130,000 $1,227 4.63%
    39% 34 $2,940,000 $86,471 $964 4.70%
    36% 34 $3,600,000 $105,882 $1,089 4.58%
    40% 31 $4,025,000 $129,839 $1,251 4.46%
    43% 24 $3,940,000 $164,167 $1,547 4.83%
    45% 17 $2,275,000 $133,824 $1,210 4.64%
    44% 12 $1,640,000 $136,667 $1,530 4.31%
    46% 10 $1,710,000 $171,000 $1,735 4.74%
    48% 10 $1,320,000 $132,000 $1,445 4.47%
    49% 7 $1,075,000 $153,571 $1,504 4.57%
    47% 4 $580,000 $145,000 $1,902 4.91%
    50-60% 4 $560,000 $140,000 $1,371 4.18%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 250 originations. The next most common DTI ratio? 30-36%, with 205 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 865 $98,615,000 $114,006 $1,190 4.54%
    Not applicable 70 $79,490,000 $1,135,571 $0 4.94%
    Not provided 77 $14,025,000 $182,143 $880 4.74%
    Asian 2 $330,000 $165,000 $1,899 4.75%
    American Indian 3 $85,000 $28,333 $336 4.58%

    Approval Rates

    Total approvals of all applications
    89.70%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.58%

    Verve A Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,017 $192,545,000 $189,326

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 40 $81,220,000 $2,030,500
    Single Family (1-4 Units):Manufactured 11 $885,000 $80,455
    Single Family (1-4 Units):Site-Built 966 $110,440,000 $114,327

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 148 $11,860,000 $80,135 $505 4.76%
    40-60% 100 $16,990,000 $169,900 $1,026 4.27%
    60-80% 239 $96,785,000 $404,958 $1,335 4.39%
    80-100% 294 $53,830,000 $183,095 $1,757 4.33%
    Over 100% 5 $1,165,000 $233,000 $0 5.35%
    Under 20% 226 $11,190,000 $49,513 $328 5.12%