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

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  • 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 Cash Out Refi, Refi, and Home Purchase loans. Clearwater Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Missoula, Billings, and Great Falls 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 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% 11/21/24
    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

    768

    Origination Dollar Volume (All Markets)

    $171,490,000

    Awards

    CLEARWATER Federal Credit Union 30 Year Conventional Loans silver CLEARWATER Federal Credit Union 30 Year Conventional Loans gold CLEARWATER Federal Credit Union 30 Year Conventional Loans silver
    Show all (3) 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) 763 $170,475,000 $223,427 $2,586 3.31%
    BILLINGS, MT (FHA|USDA|VA) 3 $625,000 $208,333 $2,503 2.96%
    GREAT FALLS, MT (FHA|USDA|VA) 2 $390,000 $195,000 $1,341 2.75%
    Clearwater Federal Credit Union's top markets include Missoula, Billings, 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: 99
    PARK SIDE FINANCIAL
    Similarity Rank: 155
    Stockman Bank of Montana
    Similarity Rank: 561
    HORIZON
    Similarity Rank: 1127
    Opportunity Bank of Montana
    Similarity Rank: 1764
    LAKEVIEW LOAN SERVICING, LLC
    Similarity Rank: 2382
    First Interstate Bank
    Similarity Rank: 3696
    BAY EQUITY LLC
    Similarity Rank: 4272
    Glacier Bank
    Similarity Rank: 4368
    FirstBank
    Similarity Rank: 5784

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 753 $167,245,000 $222,105 $2,488 3.31%
    VA 14 $3,990,000 $285,000 $7,215 3.14%
    USDA 1 $255,000 $255,000 $8,022 2.88%

    For 2020, Clearwater Federal Credit Union's most frequently originated type of loan was Conventional, with 753 originations. Their 2nd most popular type was VA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 274 $59,750,000 $218,066 $2,816 3.06%
    Refi 271 $63,175,000 $233,118 $2,243 2.92%
    Home Purchase 178 $46,150,000 $259,270 $3,241 3.60%
    Other 42 $2,210,000 $52,619 $536 5.96%
    Home Improvement 3 $205,000 $68,333 $359 5.67%

    For 2020, Clearwater Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 274 originations. The 2nd most popular reason was Refi, with 271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 480 $126,620,000 $263,792 $3,007 3.08%
    15 Year 174 $28,670,000 $164,770 $1,945 3.36%
    20 Year 75 $12,165,000 $162,200 $2,050 4.34%
    10 Year 29 $3,435,000 $118,448 $1,451 3.60%
    5 Year 7 $245,000 $35,000 $434 4.80%
    Other 3 $355,000 $118,333 $1,697 4.46%

    For 2020, Clearwater Federal Credit Union's most frequently cited loan duration was 30 Year, with 480 originations. The 2nd most popular length was 15 Year, with 174 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 538 $108,840,000 $202,305
    $1k-2k 124 $29,110,000 $234,758
    $2k-3k 65 $18,725,000 $288,077
    $3k-4k 28 $9,580,000 $342,143
    $5k+ 3 $1,075,000 $358,333
    $4k-5k 2 $920,000 $460,000

    Clearwater Federal Credit Union's average total fees were $3,007, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 538 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 342 $84,240,000 $246,316
    3-4% 208 $51,750,000 $248,798
    <2.5% 125 $26,865,000 $214,920
    5-6% 30 $1,380,000 $46,000
    4-5% 26 $4,520,000 $173,846
    7-8% 20 $1,640,000 $82,000
    6-7% 15 $885,000 $59,000
    Over 8% 2 $210,000 $105,000

    During 2020, Clearwater Federal Credit Union's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 342 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 363 $100,025,000 $275,551 $3,134 2.99%
    $100k-200k 249 $38,685,000 $155,361 $2,094 2.98%
    $100,000 or less 105 $5,715,000 $54,429 $983 5.26%
    $400k-600k 40 $18,490,000 $462,250 $4,511 2.91%
    $600k-1MM 10 $7,570,000 $757,000 $4,214 3.78%
    $1MM+ 1 $1,005,000 $1,005,000 $4,499 3.63%

    2020 saw Clearwater Federal Credit Union place emphasis on $200k-400k loans with 363 originations, totaling $100,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 194 $35,810,000 $184,588 $2,411 3.39%
    $100k-150k 165 $40,355,000 $244,576 $2,821 3.08%
    $75k-100k 155 $33,915,000 $218,806 $2,805 3.27%
    $50k or less 120 $16,870,000 $140,583 $1,918 3.63%
    $150k-250k 99 $28,895,000 $291,869 $2,740 3.12%
    $250k+ 28 $12,770,000 $456,071 $3,422 3.18%

    Clearwater Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 194 originations. The second most popular income band? $100k-150k, with 165 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 226 $51,780,000 $229,115 $2,555 3.17%
    30-36% 130 $29,150,000 $224,231 $2,647 3.37%
    <20% 108 $24,240,000 $224,444 $2,419 3.05%
    44% 36 $6,650,000 $184,722 $2,328 3.53%
    42% 35 $8,115,000 $231,857 $2,753 3.45%
    36% 35 $7,195,000 $205,571 $2,400 3.51%
    38% 28 $5,860,000 $209,286 $2,561 3.46%
    39% 25 $5,705,000 $228,200 $2,566 3.17%
    40% 25 $5,235,000 $209,400 $3,206 3.81%
    37% 24 $5,090,000 $212,083 $2,598 3.60%
    43% 23 $4,715,000 $205,000 $2,271 3.63%
    41% 21 $4,175,000 $198,810 $2,860 3.26%
    45% 13 $2,935,000 $225,769 $2,717 3.53%
    47% 10 $2,470,000 $247,000 $2,917 2.98%
    48% 5 $1,065,000 $213,000 $2,898 2.78%
    49% 5 $1,055,000 $211,000 $1,844 2.90%
    46% 4 $930,000 $232,500 $3,568 3.19%
    >60% 4 $1,120,000 $280,000 $3,918 4.06%
    50-60% 2 $640,000 $320,000 $3,721 2.69%

    Clearwater Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 754 $167,400,000 $222,016 $2,592 3.29%
    Not applicable 6 $2,550,000 $425,000 $0 4.92%
    Asian 4 $860,000 $215,000 $2,030 3.84%
    American Indian 4 $680,000 $170,000 $1,344 2.69%

    Approval Rates

    Total approvals of all applications
    99.01%

    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
    95.70%

    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 768 $171,490,000 $223,294

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,500,000 $750,000
    Single Family (1-4 Units):Manufactured 40 $3,300,000 $82,500
    Single Family (1-4 Units):Site-Built 726 $166,690,000 $229,601

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 85 $10,235,000 $120,412 $1,706 3.08%
    40-60% 152 $29,090,000 $191,382 $2,277 2.83%
    60-80% 310 $80,730,000 $260,419 $2,786 3.18%
    80-100% 169 $48,115,000 $284,704 $3,234 3.45%
    Over 100% 3 $895,000 $298,333 $12,693 3.17%
    Under 20% 49 $2,425,000 $49,490 $920 5.49%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COLORADO HOUSING AND FINANCE AUTHORITY Conventional home mortgage Trouble during payment process 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    COLORADO HOUSING AND FINANCE AUTHORITY FHA mortgage Struggling to pay mortgage 4 66.7%