Clearwater Federal Credit Union Mortgage Rates, Fees & Info

Missoula, MT

LEI: 549300W2W119ZBFOWS21

Tax ID: 81-0289023

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
  • Complaints
  • 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 and Cash Out Refi loans. Clearwater Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top two markets are Missoula and Great Falls .

    Clearwater Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Clearwater Federal 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
    30 Year Conventional Purchase 6.71% 11/17/24
    30 Year Conventional Refi 6.59% 11/17/24
    30 Year Cash-out Refi 6.78% 11/17/24
    30 Year VA Purchase 6.27% 11/17/24
    30 Year USDA Purchase 6.27% 11/17/24
    15 Year Conventional Purchase 7.04% 11/17/24
    15 Year Conventional Refi 6.04% 11/17/24
    15 Year Cash-out Refi 6.04% 11/17/24
    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

    252

    Origination Dollar Volume (All Markets)

    $33,880,000

    Awards

    CLEARWATER Federal Credit Union 30 Year Conventional Loans silver
    Show all (1) 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
    MISSOULA, MT (FHA|USDA|VA) 249 $33,715,000 $135,402 $3,555 4.74%
    GREAT FALLS, MT (FHA|USDA|VA) 2 $140,000 $70,000 $3,593 6.00%
    Outside of Metro Areas 1 $25,000 $25,000 $0 0.00%
    Clearwater Federal Credit Union's top markets include Missoula and Great Falls 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: 51
    PARK SIDE FINANCIAL
    Similarity Rank: 108
    Stockman Bank of Montana
    Similarity Rank: 168
    Opportunity Bank of Montana
    Similarity Rank: 638
    Glacier Bank
    Similarity Rank: 1422
    First Interstate Bank
    Similarity Rank: 1456
    MANN FINANCIAL INC.
    Similarity Rank: 3744
    USAA Federal Savings Bank
    Similarity Rank: 4520
    Wells Fargo Bank
    Similarity Rank: 4595
    U.S. Bank
    Similarity Rank: 5747

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 247 $32,565,000 $131,842 $3,452 4.77%
    VA 4 $1,150,000 $287,500 $6,515 4.38%
    USDA 1 $165,000 $165,000 $5,245 3.75%

    For 2018, Clearwater Federal Credit Union's most frequently originated type of loan was Conventional, with 247 originations. Their 2nd most popular type was VA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 105 $19,445,000 $185,190 $3,992 4.73%
    Cash Out Refi 55 $8,385,000 $152,455 $2,959 4.86%
    Refi 38 $3,560,000 $93,684 $2,591 4.54%
    Other 36 $1,640,000 $45,556 $0 5.00%
    Home Improvement 18 $850,000 $47,222 $0 0.00%

    For 2018, Clearwater Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Cash Out Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 114 $25,220,000 $221,228 $3,702 4.79%
    15 Year 66 $4,220,000 $63,939 $2,836 4.21%
    Other 37 $2,725,000 $73,649 $2,904 4.92%
    10 Year 18 $940,000 $52,222 $1,292 4.50%
    5 Year 10 $170,000 $17,000 $0 0.00%
    20 Year 7 $605,000 $86,429 $2,656 4.67%

    For 2018, Clearwater Federal Credit Union's most frequently cited loan duration was 30 Year, with 114 originations. The 2nd most popular length was 15 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 157 $12,545,000 $79,904
    $1k-2k 61 $12,165,000 $199,426
    $2k-3k 17 $4,355,000 $256,176
    $3k-4k 9 $2,995,000 $332,778
    $4k-5k 4 $1,230,000 $307,500
    $5k+ 2 $510,000 $255,000

    Clearwater Federal Credit Union's average total fees were $3,702, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 101 $22,525,000 $223,020
    5-6% 26 $4,900,000 $188,462
    3-4% 9 $1,605,000 $178,333

    During 2018, Clearwater Federal Credit Union's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 123 $5,265,000 $42,805 $2,372 4.80%
    $200k-400k 66 $17,460,000 $264,545 $4,119 4.74%
    $100k-200k 59 $8,885,000 $150,593 $2,983 4.77%
    $400k-600k 3 $1,295,000 $431,667 $6,771 4.50%
    $600k-1MM 1 $975,000 $975,000 $3,649 4.38%

    2018 saw Clearwater Federal Credit Union place emphasis on $100,000 or less loans with 123 originations, totaling $5,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 69 $6,025,000 $87,319 $2,991 4.73%
    $50k-75k 58 $7,400,000 $127,586 $3,071 4.78%
    $100k-150k 50 $8,960,000 $179,200 $4,155 4.70%
    $75k-100k 41 $5,505,000 $134,268 $4,190 4.77%
    $150k-250k 14 $3,260,000 $232,857 $4,105 4.76%
    $250k+ 1 $975,000 $975,000 $3,649 4.38%

    Clearwater Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 69 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $8,315,000 $131,984 $3,568 4.75%
    30-36% 49 $7,845,000 $160,102 $4,014 4.68%
    <20% 36 $3,500,000 $97,222 $2,836 4.65%
    44% 14 $1,170,000 $83,571 $2,543 4.63%
    37% 14 $2,590,000 $185,000 $4,387 4.81%
    42% 10 $1,070,000 $107,000 $2,651 4.79%
    40% 10 $900,000 $90,000 $3,299 4.84%
    43% 9 $665,000 $73,889 $1,826 4.94%
    36% 7 $985,000 $140,714 $3,191 4.68%
    39% 7 $1,135,000 $162,143 $4,818 5.03%
    41% 6 $910,000 $151,667 $3,601 4.59%
    38% 5 $915,000 $183,000 $4,251 4.67%
    47% 4 $1,050,000 $262,500 $4,067 4.81%
    48% 4 $630,000 $157,500 $3,180 4.88%
    45% 2 $130,000 $65,000 $2,342 5.25%
    46% 2 $290,000 $145,000 $2,612 4.69%
    49% 1 $215,000 $215,000 $3,787 4.63%

    Clearwater Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $32,740,000 $132,016 $3,559 4.76%
    Not provided 1 $975,000 $975,000 $3,649 4.38%
    Black 1 $95,000 $95,000 $3,007 4.13%
    American Indian 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.73%

    Clearwater Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.25%

    Clearwater Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 252 $33,880,000 $134,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 33 $1,925,000 $58,333
    Single Family (1-4 Units):Site-Built 219 $31,955,000 $145,913

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,275,000 $68,939 $2,156 4.66%
    40-60% 19 $2,115,000 $111,316 $2,876 4.74%
    60-80% 58 $11,700,000 $201,724 $3,482 4.82%
    80-100% 64 $13,880,000 $216,875 $4,171 4.67%
    Under 20% 71 $2,405,000 $33,873 $1,896 4.88%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    COLORADO HOUSING AND FINANCE AUTHORITY Conventional home mortgage Struggling to pay mortgage 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY Conventional home mortgage Trouble during payment process 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Closing on a mortgage 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Struggling to pay mortgage 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Trouble during payment process 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY Other type of mortgage Trouble during payment process 1 16.7%