Transwest Credit Union Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 549300XP1CH1D03J6778
Tax ID: 87-0212887
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Mortgage Data
Review & Overview
Transwest Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Transwest Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Ogden, Provo, Heber, and St. George among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Transwest 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. Transwest 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 12/16/24 |
| 30 Year Conventional Refi | 6.52% | 12/16/24 |
| 30 Year Cash-out Refi | 6.53% | 12/16/24 |
| 15 Year Conventional Refi | 5.85% | 12/16/24 |
| 15 Year Cash-out Refi | 5.85% | 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. | ||
Transwest Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
161Origination Dollar Volume (All Markets)
$40,475,000Top 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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 120 | $30,240,000 | $252,000 | $4,381 | 2.99% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 17 | $3,965,000 | $233,235 | $4,382 | 1,215.96% |
| PROVO-OREM, UT (FHA|USDA|VA) | 11 | $2,885,000 | $262,273 | $4,642 | 3.01% |
| Heber, UT (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $4,566 | 2.56% |
| Outside of Metro Areas | 2 | $710,000 | $355,000 | $6,448 | 3.63% |
| ST. GEORGE, UT (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,878 | 3.21% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,399 | 3.38% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,483 | 3.50% |
| Outside of Metro Areas | 1 | $255,000 | $255,000 | $4,922 | 2.50% |
| POCATELLO, ID (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,315 | 2.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against TRANSWEST CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $40,475,000 | $251,398 | $4,436 | 131.87% |
For 2020, Transwest Credit Union's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
For 2020, Transwest Credit Union's most frequently cited loan purpose was Cash Out Refi, with 79 originations. The 2nd most popular reason was Refi, with 64 originations.
Loan Duration/Length
For 2020, Transwest Credit Union's most frequently cited loan duration was 30 Year, with 125 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Transwest Credit Union's average total fees were $4,540, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 63 originations.
Interest Rates
During 2020, Transwest Credit Union's average interest rate for loans was 169.42%, while their most frequently originated rate bucket for loans was 2.5-3%, with 57 originations.
Loan Sizing
2020 saw Transwest Credit Union place emphasis on $200k-400k loans with 90 originations, totaling $25,790,000 in origination value.
Applicant Income
Transwest Credit Union lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 161 | $40,475,000 | $251,398 | $4,436 | 131.87% |
Transwest Credit Union lent most frequently to those with DTI ratios of Exempt%, with 161 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 157 | $39,245,000 | $249,968 | $4,401 | 135.16% |
| Asian | 4 | $1,230,000 | $307,500 | $5,800 | 3.53% |
Approval Rates
Total approvals of all applications95.31%
Transwest 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 origination91.93%
Transwest Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 161 | $40,475,000 | $251,398 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 161 | $40,475,000 | $251,398 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | Conventional home mortgage | Improper use of your report | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | Conventional home mortgage | Incorrect information on your report | 4 | 36.4% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | FHA mortgage | Improper use of your report | 1 | 9.1% |
| TRANSUNION INTERMEDIATE HOLDINGS, INC. | FHA mortgage | Incorrect information on your report | 1 | 9.1% |