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 Cash Out Refi loans. Verve A Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oshkosh, Appleton, Fond Du Lac, Madison, and La Crosse 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% 12/16/24
    30 Year Conventional Purchase 6.15% 12/16/24
    30 Year Conventional Refi 6.00% 12/16/24
    30 Year Cash-out Refi 6.16% 12/16/24
    30 Year FHA Purchase 7.97% 12/16/24
    15 Year Conventional Purchase 5.87% 12/16/24
    15 Year Conventional Refi 5.58% 12/16/24
    15 Year Cash-out Refi 5.58% 12/16/24
    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

    1,010

    Origination Dollar Volume (All Markets)

    $139,820,000
    Show all (6) 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) 446 $52,270,000 $117,197 $1,243 4.38%
    APPLETON, WI (FHA|USDA|VA) 150 $20,980,000 $139,867 $1,392 4.39%
    FOND DU LAC, WI (FHA|USDA|VA) 153 $16,125,000 $105,392 $1,201 4.55%
    MADISON, WI (FHA|USDA|VA) 5 $13,735,000 $2,747,000 $1,569 4.23%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 106 $12,140,000 $114,528 $1,245 4.51%
    Outside of Metro Areas 64 $8,640,000 $135,000 $1,459 4.61%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 16 $6,200,000 $387,500 $1,586 4.71%
    Manitowoc, WI (FHA|USDA|VA) 28 $2,690,000 $96,071 $1,163 4.27%
    GREEN BAY, WI (FHA|USDA|VA) 13 $2,095,000 $161,154 $1,719 4.58%
    Baraboo, WI (FHA|USDA|VA) 2 $1,070,000 $535,000 $2,475 4.37%
    Marinette, WI-MI (FHA|USDA|VA) 7 $845,000 $120,714 $1,473 4.67%
    Stevens Point, WI (FHA|USDA|VA) 3 $755,000 $251,667 $1,140 4.05%
    SHEBOYGAN, WI (FHA|USDA|VA) 5 $555,000 $111,000 $1,087 4.09%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $450,000 $225,000 $1,505 4.06%
    Beaver Dam, WI (FHA|USDA|VA) 2 $280,000 $140,000 $1,046 3.93%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,530 3.88%
    Whitewater, WI (FHA|USDA|VA) 1 $195,000 $195,000 $2,197 3.88%
    Winona, MN (FHA|USDA|VA) 1 $165,000 $165,000 $2,068 4.88%
    Shawano, WI (FHA|USDA|VA) 2 $140,000 $70,000 $1,803 4.24%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,217 3.38%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $110,000 $55,000 $0 4.88%
    Verve A Credit Union's top markets include Oshkosh, Appleton, Fond Du Lac, Madison, and La Crosse 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: 8
    UNITEDONE Credit Union
    Similarity Rank: 55
    Firefighters Credit Union
    Similarity Rank: 66
    PROSPERA Credit Union
    Similarity Rank: 70
    Liberty Bank for Savings
    Similarity Rank: 85
    NORTHWESTERN MUTUAL
    Similarity Rank: 117
    The Bank of Kaukauna
    Similarity Rank: 119
    Fox Valley Savings Bank
    Similarity Rank: 126
    Empower Credit Union
    Similarity Rank: 144
    Citizens State Bank of La Crosse
    Similarity Rank: 308

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 860 $131,710,000 $153,151 $1,283 4.23%
    HELOC 150 $8,110,000 $54,067 n/a 5.61%

    For 2019, Verve A Credit Union's most frequently originated type of loan was Conventional, with 860 originations. Their 2nd most popular type was HELOC, with 150 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 329 $60,185,000 $182,933 $1,934 4.16%
    Other 216 $10,770,000 $49,861 $527 5.07%
    Cash Out Refi 216 $43,560,000 $201,667 $1,193 4.21%
    Refi 134 $21,100,000 $157,463 $1,282 3.79%
    Home Improvement 115 $4,205,000 $36,565 $383 5.22%

    For 2019, Verve A Credit Union's most frequently cited loan purpose was Home Purchase, with 329 originations. The 2nd most popular reason was Other, with 216 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 381 $63,805,000 $167,467 $1,676 4.23%
    20 Year 175 $11,765,000 $67,229 $1,511 5.34%
    15 Year 166 $19,230,000 $115,843 $1,291 3.92%
    10 Year 119 $6,535,000 $54,916 $520 4.43%
    5 Year 89 $15,775,000 $177,247 $345 4.71%
    Other 72 $9,250,000 $128,472 $692 4.29%
    3 Year 8 $13,460,000 $1,682,500 $324 4.07%

    For 2019, Verve A Credit Union's most frequently cited loan duration was 30 Year, with 381 originations. The 2nd most popular length was 20 Year, with 175 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 783 $97,205,000 $124,144
    $1k-2k 1 $305,000 $305,000
    $2k-3k 1 $255,000 $255,000

    Verve A Credit Union's average total fees were $1,676, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 783 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 367 $64,855,000 $176,717
    3-4% 333 $50,085,000 $150,405
    5-6% 181 $12,085,000 $66,768
    2.5-3% 68 $9,830,000 $144,559
    6-7% 51 $2,645,000 $51,863
    7-8% 10 $320,000 $32,000

    During 2019, Verve A Credit Union's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 4-5%, with 367 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 525 $26,315,000 $50,124 $819 4.79%
    $100k-200k 316 $44,140,000 $139,684 $1,601 4.03%
    $200k-400k 138 $36,300,000 $263,043 $1,828 4.06%
    $400k-600k 19 $8,955,000 $471,316 $1,883 4.27%
    $1MM+ 6 $19,270,000 $3,211,667 $0 4.54%
    $600k-1MM 6 $4,840,000 $806,667 $2,191 4.67%

    2019 saw Verve A Credit Union place emphasis on $100,000 or less loans with 525 originations, totaling $26,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 249 $21,845,000 $87,731 $1,261 4.44%
    $75k-100k 217 $24,945,000 $114,954 $1,349 4.48%
    $100k-150k 211 $30,885,000 $146,374 $1,303 4.41%
    $50k or less 185 $15,815,000 $85,486 $1,184 4.30%
    $150k-250k 85 $15,115,000 $177,824 $1,301 4.46%
    $250k+ 5 $1,605,000 $321,000 $2,230 5.10%

    Verve A Credit Union lent most frequently to those with incomes in the $50k-75k range, with 249 originations. The second most popular income band? $75k-100k, with 217 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 283 $30,975,000 $109,452 $1,310 4.30%
    30-36% 201 $23,615,000 $117,488 $1,262 4.48%
    <20% 121 $11,745,000 $97,066 $1,357 4.09%
    41% 40 $5,730,000 $143,250 $1,303 4.54%
    37% 39 $4,385,000 $112,436 $1,127 4.40%
    39% 37 $3,605,000 $97,432 $1,130 4.68%
    42% 36 $3,930,000 $109,167 $987 4.84%
    40% 36 $4,930,000 $136,944 $1,385 4.49%
    36% 34 $3,900,000 $114,706 $1,399 4.60%
    38% 30 $3,120,000 $104,000 $1,175 4.36%
    43% 18 $2,280,000 $126,667 $1,057 4.66%
    44% 14 $1,220,000 $87,143 $1,110 4.94%
    45% 9 $1,195,000 $132,778 $1,443 4.61%
    48% 8 $1,380,000 $172,500 $1,870 3.97%
    47% 8 $1,070,000 $133,750 $1,731 4.14%
    49% 8 $980,000 $122,500 $1,615 5.02%
    46% 5 $595,000 $119,000 $1,187 4.28%
    50-60% 4 $770,000 $192,500 $1,485 4.81%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 283 originations. The next most common DTI ratio? 30-36%, with 201 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 874 $103,770,000 $118,730 $1,305 4.39%
    Not applicable 57 $29,445,000 $516,579 $0 4.82%
    Not provided 73 $5,425,000 $74,315 $938 4.81%
    Asian 4 $660,000 $165,000 $1,583 3.75%
    Black 2 $520,000 $260,000 $1,490 4.56%

    Approval Rates

    Total approvals of all applications
    89.65%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.38%

    Verve A Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,010 $139,820,000 $138,436

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $27,060,000 $1,127,500
    Single Family (1-4 Units):Manufactured 7 $765,000 $109,286
    Single Family (1-4 Units):Site-Built 979 $111,995,000 $114,397

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 146 $8,730,000 $59,795 $625 4.89%
    40-60% 110 $12,810,000 $116,455 $1,287 3.93%
    60-80% 288 $62,990,000 $218,715 $1,524 4.04%
    80-100% 258 $45,820,000 $177,597 $1,779 4.28%
    Under 20% 204 $9,100,000 $44,608 $375 5.16%