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, Chicago, and Milwaukee among others. We have data for 19 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    945

    Origination Dollar Volume (All Markets)

    $187,345,000
    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) 374 $61,360,000 $164,064 $1,549 4.11%
    APPLETON, WI (FHA|USDA|VA) 133 $28,245,000 $212,368 $1,523 4.33%
    FOND DU LAC, WI (FHA|USDA|VA) 173 $20,895,000 $120,780 $1,528 4.40%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 40 $17,710,000 $442,750 $4,698 4.27%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 38 $16,120,000 $424,211 $2,195 3.81%
    GREEN BAY, WI (FHA|USDA|VA) 25 $15,365,000 $614,600 $2,201 4.06%
    Outside of Metro Areas 61 $12,885,000 $211,230 $1,759 4.29%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 60 $7,030,000 $117,167 $1,502 4.30%
    Manitowoc, WI (FHA|USDA|VA) 19 $2,905,000 $152,895 $1,996 4.46%
    Beaver Dam, WI (FHA|USDA|VA) 7 $1,095,000 $156,429 $1,563 4.59%
    RACINE, WI (FHA|USDA|VA) 2 $1,050,000 $525,000 $2,018 3.06%
    SHEBOYGAN, WI (FHA|USDA|VA) 2 $660,000 $330,000 $2,430 3.31%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 3 $585,000 $195,000 $3,844 3.74%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $505,000 $505,000 $0 3.00%
    Marinette, WI-MI (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.15%
    Shawano, WI (FHA|USDA|VA) 3 $285,000 $95,000 $2,116 5.00%
    MADISON, WI (FHA|USDA|VA) 1 $185,000 $185,000 $1,558 3.49%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $65,000 $65,000 $497 5.37%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $55,000 $55,000 $1,289 5.63%
    Verve A Credit Union's top markets include Oshkosh, Appleton, Fond Du Lac, Chicago, and Milwaukee among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Massachusetts (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.

    UNITEDONE Credit Union
    Similarity Rank: 44
    First Savings Bank of Hegewisch
    Similarity Rank: 64
    PCM
    Similarity Rank: 65
    NORTHWESTERN MUTUAL
    Similarity Rank: 70
    UNISON CREDIT UNION
    Similarity Rank: 70
    CO-OP Credit Union
    Similarity Rank: 70
    Empower Credit Union
    Similarity Rank: 81
    PROSPERA Credit Union
    Similarity Rank: 84
    Firefighters Credit Union
    Similarity Rank: 90
    Liberty Bank for Savings
    Similarity Rank: 116

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 746 $173,460,000 $232,520 $1,670 4.05%
    HELOC 199 $13,885,000 $69,774 n/a 4.86%

    For 2022, Verve A Credit Union's most frequently originated type of loan was Conventional, with 746 originations. Their 2nd most popular type was HELOC, with 199 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 309 $103,135,000 $333,770 $2,557 3.92%
    Home Improvement 206 $11,760,000 $57,087 $650 4.77%
    Cash Out Refi 200 $46,750,000 $233,750 $1,492 3.88%
    Other 145 $9,995,000 $68,931 $662 5.02%
    Refi 85 $15,705,000 $184,765 $1,357 3.39%

    For 2022, Verve A Credit Union's most frequently cited loan purpose was Home Purchase, with 309 originations. The 2nd most popular reason was Home Improvement, with 206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 384 $90,340,000 $235,260 $2,211 3.73%
    20 Year 216 $16,040,000 $74,259 $1,528 4.78%
    15 Year 147 $12,665,000 $86,156 $968 4.51%
    5 Year 83 $51,405,000 $619,337 $497 4.21%
    10 Year 79 $5,075,000 $64,241 $807 4.50%
    Other 34 $11,800,000 $347,059 $734 4.39%
    3 Year 2 $20,000 $10,000 $418 3.52%

    For 2022, Verve A Credit Union's most frequently cited loan duration was 30 Year, with 384 originations. The 2nd most popular length was 20 Year, with 216 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 657 $111,285,000 $169,384

    Verve A Credit Union's average total fees were $2,211, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 657 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 416 $100,500,000 $241,587
    4-5% 179 $38,095,000 $212,821
    2.5-3% 117 $23,725,000 $202,778
    5-6% 111 $10,365,000 $93,378
    6-7% 77 $6,525,000 $84,740
    7-8% 22 $1,050,000 $47,727
    <2.5% 19 $6,935,000 $365,000
    Over 8% 4 $150,000 $37,500

    During 2022, Verve A Credit Union's average interest rate for loans was 3.73%, while their most frequently originated rate bucket for loans was 3-4%, with 416 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 436 $22,690,000 $52,041 $860 4.72%
    $100k-200k 249 $35,645,000 $143,153 $1,803 3.91%
    $200k-400k 177 $47,625,000 $269,068 $2,386 3.66%
    $400k-600k 44 $20,830,000 $473,409 $2,977 3.60%
    $1MM+ 20 $46,910,000 $2,345,500 $3,924 3.98%
    $600k-1MM 19 $13,645,000 $718,158 $3,830 3.56%

    2022 saw Verve A Credit Union place emphasis on $100,000 or less loans with 436 originations, totaling $22,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 227 $33,055,000 $145,617 $1,675 4.42%
    $50k-75k 189 $20,495,000 $108,439 $1,561 4.20%
    $75k-100k 157 $20,155,000 $128,376 $1,583 4.10%
    $150k-250k 136 $26,590,000 $195,515 $1,744 4.29%
    $50k or less 127 $11,195,000 $88,150 $1,462 4.09%
    $250k+ 35 $17,425,000 $497,857 $3,160 3.90%

    Verve A Credit Union lent most frequently to those with incomes in the $100k-150k range, with 227 originations. The second most popular income band? $50k-75k, with 189 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 235 $34,695,000 $147,638 $1,794 4.11%
    30-36% 222 $33,200,000 $149,550 $1,589 4.22%
    <20% 91 $10,275,000 $112,912 $1,552 4.14%
    37% 42 $4,080,000 $97,143 $1,316 4.47%
    39% 35 $5,455,000 $155,857 $1,713 4.42%
    40% 34 $5,430,000 $159,706 $1,584 3.89%
    41% 33 $4,995,000 $151,364 $1,828 4.31%
    38% 29 $3,695,000 $127,414 $1,660 4.50%
    42% 28 $3,430,000 $122,500 $1,509 4.43%
    36% 25 $3,275,000 $131,000 $1,622 4.79%
    43% 23 $4,305,000 $187,174 $1,822 3.85%
    45% 15 $3,405,000 $227,000 $1,796 4.30%
    44% 12 $1,540,000 $128,333 $1,333 4.77%
    46% 10 $1,320,000 $132,000 $1,847 4.52%
    47% 10 $1,590,000 $159,000 $1,963 3.70%
    48% 7 $3,365,000 $480,714 $2,606 4.21%
    49% 6 $1,150,000 $191,667 $2,188 4.48%
    50-60% 2 $250,000 $125,000 $1,502 3.80%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 222 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 784 $112,140,000 $143,036 $1,632 4.22%
    Not applicable 72 $56,770,000 $788,472 $0 4.14%
    Not provided 73 $14,605,000 $200,068 $1,959 4.23%
    Black 6 $2,130,000 $355,000 $2,868 4.48%
    Asian 7 $1,495,000 $213,571 $2,360 4.46%
    American Indian 3 $205,000 $68,333 $1,393 3.96%

    Approval Rates

    Total approvals of all applications
    89.26%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.21%

    Verve A Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 945 $187,345,000 $198,249

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    945 $187,345,000 $198,249

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 163 $16,445,000 $100,890 $969 4.54%
    40-60% 124 $25,550,000 $206,048 $1,572 3.71%
    60-80% 224 $63,460,000 $283,304 $2,099 3.81%
    80-100% 193 $63,115,000 $327,021 $2,435 3.83%
    Under 20% 237 $13,855,000 $58,460 $542 4.96%