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. 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.

    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
    30 Year Conventional Purchase 6.71% 11/23/24
    30 Year Conventional Refi 6.59% 11/23/24
    30 Year Cash-out Refi 6.78% 11/23/24
    30 Year VA Purchase 6.27% 11/23/24
    30 Year USDA Purchase 6.27% 11/23/24
    15 Year Conventional Purchase 7.04% 11/23/24
    15 Year Conventional Refi 6.04% 11/23/24
    15 Year Cash-out Refi 6.04% 11/23/24
    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

    375

    Origination Dollar Volume (All Markets)

    $59,865,000

    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) 373 $59,645,000 $159,906 $2,997 4.83%
    GREAT FALLS, MT (FHA|USDA|VA) 2 $220,000 $110,000 $1,301 5.88%
    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.

    PARK SIDE FINANCIAL
    Similarity Rank: 15
    CLEARWATER Federal Credit Union
    Similarity Rank: 40
    Stockman Bank of Montana
    Similarity Rank: 527
    Opportunity Bank of Montana
    Similarity Rank: 1326
    Glacier Bank
    Similarity Rank: 1672
    First Interstate Bank
    Similarity Rank: 2040
    KELLER MORTGAGE, LLC
    Similarity Rank: 3206
    MANN FINANCIAL INC.
    Similarity Rank: 4928
    Bank of America
    Similarity Rank: 7353
    LENDUS, LLC
    Similarity Rank: 7440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 370 $58,510,000 $158,135 $2,928 4.85%
    VA 5 $1,355,000 $271,000 $7,401 4.01%

    For 2019, Clearwater Federal Credit Union's most frequently originated type of loan was Conventional, with 370 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $32,380,000 $213,026 $4,013 4.67%
    Cash Out Refi 93 $14,915,000 $160,376 $2,568 4.32%
    Other 90 $4,500,000 $50,000 $484 5.91%
    Refi 38 $7,770,000 $204,474 $5,886 4.26%
    Home Improvement 2 $300,000 $150,000 $2,232 4.75%

    For 2019, Clearwater Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 182 $45,240,000 $248,571 $4,123 4.16%
    15 Year 118 $10,150,000 $86,017 $1,148 5.32%
    10 Year 32 $1,750,000 $54,688 $2,963 5.19%
    20 Year 29 $1,935,000 $66,724 $4,524 6.75%
    5 Year 13 $565,000 $43,462 $479 4.85%
    3 Year 1 $225,000 $225,000 $2,360 4.00%

    For 2019, Clearwater Federal Credit Union's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 15 Year, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 211 $20,475,000 $97,038
    $2k-3k 66 $16,760,000 $253,939
    $1k-2k 65 $12,055,000 $185,462
    $3k-4k 27 $8,425,000 $312,037
    $4k-5k 6 $2,150,000 $358,333

    Clearwater Federal Credit Union's average total fees were $4,123, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 211 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 123 $26,005,000 $211,423
    4-5% 111 $22,115,000 $199,234
    5-6% 86 $8,270,000 $96,163
    6-7% 33 $1,385,000 $41,970
    7-8% 18 $1,000,000 $55,556
    2.5-3% 3 $855,000 $285,000
    <2.5% 1 $235,000 $235,000

    During 2019, Clearwater Federal Credit Union's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 123 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 161 $8,225,000 $51,087 $1,812 5.76%
    $200k-400k 116 $30,900,000 $266,379 $4,542 4.07%
    $100k-200k 83 $12,635,000 $152,229 $2,831 4.22%
    $400k-600k 12 $5,620,000 $468,333 $4,958 4.30%
    $600k-1MM 2 $1,480,000 $740,000 $1,352 4.31%
    $1MM+ 1 $1,005,000 $1,005,000 $4,822 5.13%

    2019 saw Clearwater Federal Credit Union place emphasis on $100,000 or less loans with 161 originations, totaling $8,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 102 $15,010,000 $147,157 $3,533 4.81%
    $50k or less 86 $8,030,000 $93,372 $2,760 5.11%
    $100k-150k 84 $14,760,000 $175,714 $2,780 4.61%
    $75k-100k 63 $10,075,000 $159,921 $2,438 4.88%
    $150k-250k 31 $8,025,000 $258,871 $3,026 4.76%
    $250k+ 9 $3,965,000 $440,556 $4,655 4.71%

    Clearwater Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 102 originations. The second most popular income band? $50k or less, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $14,360,000 $156,087 $2,531 4.82%
    30-36% 61 $9,215,000 $151,066 $3,736 4.99%
    <20% 50 $7,060,000 $141,200 $2,457 4.61%
    42% 25 $3,675,000 $147,000 $2,457 4.84%
    43% 23 $3,575,000 $155,435 $2,482 5.01%
    38% 19 $3,865,000 $203,421 $3,138 4.90%
    44% 18 $2,250,000 $125,000 $2,323 5.54%
    39% 14 $2,820,000 $201,429 $2,328 5.01%
    41% 11 $1,395,000 $126,818 $2,046 4.88%
    36% 11 $1,515,000 $137,727 $6,258 5.17%
    37% 10 $1,490,000 $149,000 $5,289 4.81%
    45% 10 $2,270,000 $227,000 $2,933 4.55%
    40% 8 $1,500,000 $187,500 $4,266 4.04%
    48% 7 $1,585,000 $226,429 $3,157 4.36%
    49% 7 $1,815,000 $259,286 $4,178 3.93%
    46% 5 $965,000 $193,000 $3,945 4.50%
    50-60% 2 $320,000 $160,000 $1,129 5.44%
    47% 2 $190,000 $95,000 $1,656 4.94%

    Clearwater Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 373 $59,135,000 $158,539 $2,980 4.84%
    American Indian 2 $730,000 $365,000 $4,403 5.25%

    Approval Rates

    Total approvals of all applications
    98.24%

    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
    95.73%

    Clearwater Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 375 $59,865,000 $159,640

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 41 $2,655,000 $64,756
    Single Family (1-4 Units):Site-Built 334 $57,210,000 $171,287

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 69 $5,895,000 $85,435 $1,441 4.94%
    40-60% 47 $7,475,000 $159,043 $3,425 4.29%
    60-80% 91 $21,895,000 $240,604 $4,101 4.36%
    80-100% 86 $21,210,000 $246,628 $5,177 4.70%
    Under 20% 82 $3,390,000 $41,341 $509 5.75%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Improper use of your report 1 25.0%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Struggling to pay mortgage 3 75.0%