Clearwater Federal Credit Union Mortgage Rates, Fees & Info

Missoula, MT

LEI: 549300W2W119ZBFOWS21

Tax ID: 81-0289023

5 stars - Updated: 11/21/24 - out of 5 stars, based on 15 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Clearwater Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Clearwater Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Missoula, Great Falls, and Billings among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Clearwater Federal 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. Clearwater Federal 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 relatively high 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
    30 Year Conventional Purchase 6.71% 11/21/24
    30 Year Conventional Refi 6.59% 11/21/24
    30 Year Cash-out Refi 6.78% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 7.04% 11/21/24
    15 Year Conventional Refi 6.04% 11/21/24
    15 Year Cash-out Refi 6.04% 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.

    Clearwater Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Clearwater Federal 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

    235

    Origination Dollar Volume (All Markets)

    $41,855,000

    Awards

    CLEARWATER Federal Credit Union 30 Year Conventional Loans silver CLEARWATER Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Clearwater Federal Credit Union's average 30 year fixed mortgage rate was 6.54%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Clearwater Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,050.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    MISSOULA, MT (FHA|USDA|VA) 224 $39,580,000 $176,696 $2,676 7.34%
    GREAT FALLS, MT (FHA|USDA|VA) 10 $2,210,000 $221,000 $3,982 7.33%
    BILLINGS, MT (FHA|USDA|VA) 1 $65,000 $65,000 $1,327 9.13%
    Clearwater Federal Credit Union's top markets include Missoula, Great Falls, and Billings among others.

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

    • Similar Lenders

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

    CLEARWATER Federal Credit Union
    Similarity Rank: 15
    Stockman Bank of Montana
    Similarity Rank: 289
    Opportunity Bank of Montana
    Similarity Rank: 361
    First Interstate Bank
    Similarity Rank: 1620
    Glacier Bank
    Similarity Rank: 1672
    U.S. Bank
    Similarity Rank: 3316
    MANN FINANCIAL INC.
    Similarity Rank: 3703
    FIRST COLONY MORTGAGE CORPORATION
    Similarity Rank: 4234
    GUARANTEED RATE, INC.
    Similarity Rank: 4632
    ENVOY MORTGAGE, LTD
    Similarity Rank: 4980

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 235 $41,855,000 $178,106 $2,721 7.35%

    For 2023, Clearwater Federal Credit Union's most frequently originated type of loan was Conventional, with 235 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 100 $7,850,000 $78,500 $1,151 7.62%
    Home Purchase 78 $27,050,000 $346,795 $5,651 6.77%
    Other 44 $3,670,000 $83,409 $982 7.81%
    Cash Out Refi 10 $2,130,000 $213,000 $4,031 7.26%
    Refi 3 $1,155,000 $385,000 $4,524 7.02%

    For 2023, Clearwater Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 100 originations. The 2nd most popular reason was Home Purchase, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $26,420,000 $347,632 $6,050 6.54%
    20 Year 56 $5,880,000 $105,000 $1,250 8.28%
    15 Year 50 $4,400,000 $88,000 $988 7.69%
    10 Year 32 $1,470,000 $45,938 $824 7.45%
    5 Year 16 $560,000 $35,000 $762 6.97%
    Other 4 $1,770,000 $442,500 $0 6.69%
    30+ year 1 $1,355,000 $1,355,000 $9,071 5.50%

    For 2023, Clearwater Federal Credit Union's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 20 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 155 $16,975,000 $109,516
    $1k-2k 21 $3,425,000 $163,095
    $3k-4k 17 $5,525,000 $325,000
    $5k+ 15 $7,285,000 $485,667
    $2k-3k 14 $3,370,000 $240,714
    $4k-5k 8 $3,340,000 $417,500

    Clearwater Federal Credit Union's average total fees were $6,050, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 155 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 102 $10,880,000 $106,667
    6-7% 61 $15,165,000 $248,607
    Over 8% 48 $5,280,000 $110,000
    5-6% 23 $9,525,000 $414,130
    4-5% 1 $1,005,000 $1,005,000

    During 2023, Clearwater Federal Credit Union's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 7-8%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $6,225,000 $53,205 $978 7.65%
    $200k-400k 51 $14,745,000 $289,118 $4,951 6.83%
    $100k-200k 39 $5,285,000 $135,513 $1,846 7.78%
    $400k-600k 20 $9,110,000 $455,500 $6,977 6.63%
    $600k-1MM 6 $4,130,000 $688,333 $8,295 6.29%
    $1MM+ 2 $2,360,000 $1,180,000 $12,324 5.25%

    2023 saw Clearwater Federal Credit Union place emphasis on $100,000 or less loans with 117 originations, totaling $6,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $11,400,000 $183,871 $2,881 7.37%
    $50k-75k 60 $5,340,000 $89,000 $1,788 7.53%
    $75k-100k 46 $6,730,000 $146,304 $2,627 7.35%
    $150k-250k 38 $10,050,000 $264,474 $3,862 7.19%
    $50k or less 13 $675,000 $51,923 $1,410 7.62%
    $250k+ 11 $5,725,000 $520,455 $4,909 6.78%

    Clearwater Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $50k-75k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 38 $6,840,000 $180,000 $2,276 7.44%
    20-30% 35 $6,105,000 $174,429 $3,016 7.00%
    44% 29 $4,515,000 $155,690 $2,094 7.84%
    40% 22 $5,390,000 $245,000 $3,994 7.30%
    42% 20 $3,020,000 $151,000 $1,743 7.51%
    41% 18 $2,930,000 $162,778 $2,815 7.07%
    43% 16 $2,470,000 $154,375 $3,038 7.49%
    39% 13 $2,385,000 $183,462 $3,122 7.28%
    <20% 9 $1,625,000 $180,556 $2,370 7.08%
    36% 9 $1,115,000 $123,889 $2,294 7.29%
    37% 9 $1,645,000 $182,778 $3,454 7.60%
    38% 8 $1,030,000 $128,750 $2,134 7.28%
    45% 2 $140,000 $70,000 $1,302 8.38%
    47% 1 $405,000 $405,000 $9,890 6.38%
    48% 1 $305,000 $305,000 $7,832 6.75%

    Clearwater Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 38 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 224 $38,780,000 $173,125 $2,688 7.37%
    Not applicable 5 $1,935,000 $387,000 $0 6.80%
    Asian 4 $930,000 $232,500 $5,035 6.50%
    Chinese 1 $105,000 $105,000 $2,295 8.38%
    Native Hawaiian or Islander 1 $105,000 $105,000 $1,252 8.38%

    Approval Rates

    Total approvals of all applications
    85.80%

    Clearwater Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.04%

    Clearwater Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 235 $41,855,000 $178,106

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    235 $41,855,000 $178,106

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $6,660,000 $158,571 $1,787 7.67%
    40-60% 16 $3,840,000 $240,000 $3,457 7.22%
    60-80% 29 $11,125,000 $383,621 $6,357 6.44%
    80-100% 39 $13,775,000 $353,205 $5,978 6.96%
    Under 20% 108 $5,970,000 $55,278 $927 7.63%