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

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  • 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 Refi, Cash Out Refi, and Home Purchase loans. Verve A Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oshkosh, Appleton, Milwaukee, Fond Du Lac, and La Crosse among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Verve A 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. 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

    1,463

    Origination Dollar Volume (All Markets)

    $302,135,000
    Show all (11) 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) 643 $100,895,000 $156,913 $1,435 3.02%
    APPLETON, WI (FHA|USDA|VA) 184 $50,880,000 $276,522 $1,497 3.21%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 45 $31,175,000 $692,778 $1,341 3.29%
    FOND DU LAC, WI (FHA|USDA|VA) 227 $28,565,000 $125,837 $1,398 3.16%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 95 $27,555,000 $290,053 $1,460 3.24%
    Outside of Metro Areas 107 $15,925,000 $148,832 $1,547 3.09%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 56 $11,390,000 $203,393 $2,187 3.27%
    Beaver Dam, WI (FHA|USDA|VA) 17 $7,545,000 $443,824 $1,236 3.01%
    GREEN BAY, WI (FHA|USDA|VA) 22 $6,650,000 $302,273 $1,783 3.21%
    Manitowoc, WI (FHA|USDA|VA) 35 $4,325,000 $123,571 $1,445 3.11%
    Whitewater, WI (FHA|USDA|VA) 1 $4,105,000 $4,105,000 $0 3.05%
    Baraboo, WI (FHA|USDA|VA) 1 $3,455,000 $3,455,000 $0 3.15%
    Marinette, WI-MI (FHA|USDA|VA) 6 $2,020,000 $336,667 $1,563 3.10%
    SAVANNAH, GA (FHA|USDA|VA) 1 $1,685,000 $1,685,000 $0 3.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 4 $1,430,000 $357,500 $1,623 2.96%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $995,000 $995,000 $0 2.85%
    Stevens Point, WI (FHA|USDA|VA) 2 $850,000 $425,000 $1,630 3.05%
    MADISON, WI (FHA|USDA|VA) 4 $710,000 $177,500 $1,512 3.16%
    RACINE, WI (FHA|USDA|VA) 3 $675,000 $225,000 $1,825 3.25%
    Shawano, WI (FHA|USDA|VA) 4 $610,000 $152,500 $1,467 3.37%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $275,000 $275,000 $2,347 2.63%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $265,000 $265,000 $2,067 2.88%
    SHEBOYGAN, WI (FHA|USDA|VA) 3 $155,000 $51,667 $0 3.50%
    Verve A Credit Union's top markets include Oshkosh, Appleton, Milwaukee, Fond Du Lac, and La Crosse among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Georgia (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.

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Firefighters Credit Union
    Similarity Rank: 125
    FOND DU LAC
    Similarity Rank: 128
    PROSPERA Credit Union
    Similarity Rank: 140
    Liberty Bank for Savings
    Similarity Rank: 153
    UNITEDONE Credit Union
    Similarity Rank: 240
    CO-OP Credit Union
    Similarity Rank: 308
    Coulee Bank
    Similarity Rank: 315
    The Stephenson National Bank and Trust
    Similarity Rank: 360
    Wolf River Community Bank
    Similarity Rank: 450

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,230 $284,950,000 $231,667 $1,476 3.02%
    HELOC 233 $17,185,000 $73,755 n/a 3.60%

    For 2021, Verve A Credit Union's most frequently originated type of loan was Conventional, with 1,230 originations. Their 2nd most popular type was HELOC, with 233 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 432 $85,410,000 $197,708 $1,253 2.77%
    Cash Out Refi 369 $77,575,000 $210,230 $1,372 3.01%
    Home Purchase 353 $119,125,000 $337,465 $2,142 3.10%
    Home Improvement 166 $10,010,000 $60,301 $809 3.78%
    Other 143 $10,015,000 $70,035 $791 3.64%

    For 2021, Verve A Credit Union's most frequently cited loan purpose was Refi, with 432 originations. The 2nd most popular reason was Cash Out Refi, with 369 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 532 $104,030,000 $195,545 $1,694 3.10%
    20 Year 350 $34,030,000 $97,229 $1,403 3.38%
    15 Year 320 $39,600,000 $123,750 $1,318 2.72%
    10 Year 116 $11,570,000 $99,741 $1,128 3.03%
    5 Year 114 $102,780,000 $901,579 $426 3.35%
    Other 30 $6,120,000 $204,000 $957 3.68%
    3 Year 1 $4,005,000 $4,005,000 $0 2.70%

    For 2021, Verve A Credit Union's most frequently cited loan duration was 30 Year, with 532 originations. The 2nd most popular length was 20 Year, with 350 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,104 $171,050,000 $154,937

    Verve A Credit Union's average total fees were $1,694, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 665 $171,835,000 $258,398
    2.5-3% 422 $84,870,000 $201,114
    <2.5% 282 $39,470,000 $139,965
    4-5% 64 $4,180,000 $65,313
    5-6% 20 $1,250,000 $62,500
    6-7% 5 $145,000 $29,000
    7-8% 3 $335,000 $111,667
    Over 8% 2 $50,000 $25,000

    During 2021, Verve A Credit Union's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 665 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 562 $80,310,000 $142,900 $1,476 2.97%
    $100,000 or less 551 $32,645,000 $59,247 $1,183 3.29%
    $200k-400k 269 $71,465,000 $265,669 $1,816 3.03%
    $400k-600k 34 $15,990,000 $470,294 $2,207 3.06%
    $1MM+ 29 $87,435,000 $3,015,000 $3,423 3.17%
    $600k-1MM 18 $14,290,000 $793,889 $2,272 3.18%

    2021 saw Verve A Credit Union place emphasis on $100k-200k loans with 562 originations, totaling $80,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 334 $38,790,000 $116,138 $1,421 3.04%
    $100k-150k 330 $51,660,000 $156,545 $1,521 3.16%
    $75k-100k 283 $38,445,000 $135,848 $1,492 3.16%
    $50k or less 229 $21,285,000 $92,948 $1,380 2.98%
    $150k-250k 135 $26,195,000 $194,037 $1,515 3.13%
    $250k+ 37 $13,545,000 $366,081 $2,043 2.89%

    Verve A Credit Union lent most frequently to those with incomes in the $50k-75k range, with 334 originations. The second most popular income band? $100k-150k, with 330 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 444 $61,590,000 $138,716 $1,464 3.03%
    30-36% 261 $35,915,000 $137,605 $1,483 3.12%
    <20% 162 $22,640,000 $139,753 $1,549 2.83%
    42% 58 $8,360,000 $144,138 $1,548 3.16%
    40% 56 $7,710,000 $137,679 $1,543 3.43%
    38% 50 $7,170,000 $143,400 $1,353 3.36%
    39% 50 $6,630,000 $132,600 $1,322 3.25%
    37% 48 $6,990,000 $145,625 $1,520 3.06%
    36% 43 $6,225,000 $144,767 $1,366 3.17%
    41% 42 $7,420,000 $176,667 $1,686 3.24%
    43% 33 $4,805,000 $145,606 $1,420 3.34%
    44% 26 $3,240,000 $124,615 $1,334 3.05%
    46% 20 $3,270,000 $163,500 $1,528 2.99%
    45% 17 $1,945,000 $114,412 $1,463 3.32%
    47% 14 $1,940,000 $138,571 $1,499 2.73%
    49% 7 $855,000 $122,143 $1,697 2.96%
    48% 6 $730,000 $121,667 $1,138 3.21%
    50-60% 1 $895,000 $895,000 $1,948 2.88%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 444 originations. The next most common DTI ratio? 30-36%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,239 $173,635,000 $140,141 $1,466 3.09%
    Not applicable 107 $110,385,000 $1,031,636 $0 3.34%
    Not provided 71 $10,135,000 $142,746 $1,407 3.09%
    Asian 26 $4,980,000 $191,538 $2,019 3.02%
    Black 9 $1,605,000 $178,333 $2,190 3.20%
    American Indian 7 $695,000 $99,286 $1,215 2.98%
    Chinese 2 $410,000 $205,000 $1,808 2.93%
    Asian Indian 1 $165,000 $165,000 $2,331 3.00%
    Native Hawaiian or Islander 1 $125,000 $125,000 $1,130 3.49%

    Approval Rates

    Total approvals of all applications
    91.27%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.37%

    Verve A Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,463 $302,135,000 $206,517

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,463 $302,135,000 $206,517

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 199 $16,645,000 $83,643 $1,199 3.21%
    40-60% 302 $46,860,000 $155,166 $1,400 2.82%
    60-80% 518 $133,800,000 $258,301 $1,478 2.98%
    80-100% 263 $82,865,000 $315,076 $1,915 3.16%
    Over 100% 4 $9,090,000 $2,272,500 $0 3.36%
    Under 20% 171 $7,645,000 $44,708 $588 3.80%