Transwest Credit Union Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 549300XP1CH1D03J6778

Tax ID: 87-0212887

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

    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, Provo, Ogden, 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 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 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 6.65% 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






    Your Estimates

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

    This is not an official calculator from Transwest 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

    111

    Origination Dollar Volume (All Markets)

    $29,905,000

    Awards

    TRANSWEST CREDIT UNION 30 Year Conventional Loans bronze TRANSWEST CREDIT UNION 30 Year Conventional Loans silver
    Show all (2) 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
    SALT LAKE CITY, UT (FHA|USDA|VA) 95 $24,205,000 $254,789 $4,322 2.80%
    PROVO-OREM, UT (FHA|USDA|VA) 4 $1,450,000 $362,500 $5,697 3.44%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 4 $1,010,000 $252,500 $4,213 2.66%
    Heber, UT (FHA|USDA|VA) 1 $805,000 $805,000 $9,910 3.38%
    ST. GEORGE, UT (FHA|USDA|VA) 2 $550,000 $275,000 $5,504 2.56%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $445,000 $445,000 $5,226 2.75%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $395,000 $395,000 $4,921 2.25%
    Vernal, UT (FHA|USDA|VA) 1 $385,000 $385,000 $7,091 2.75%
    Outside of Metro Areas 1 $355,000 $355,000 $4,818 2.88%
    Payson, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $5,956 2.63%
    Transwest Credit Union's top markets include Salt Lake City, Provo, Ogden, Heber, and St. George among others.

    Their top states include:
  • Utah (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • 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.

    HORIZON UTAH Federal Credit Union
    Similarity Rank: 350
    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 384
    Central Bank
    Similarity Rank: 665
    Jordan Federal Credit Union
    Similarity Rank: 980
    TRANSWEST CREDIT UNION
    Similarity Rank: 1160
    UTAH COMMUNITY
    Similarity Rank: 1562
    Hercules First Federal Credit Union
    Similarity Rank: 1610
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1776
    D. L. Evans Bank
    Similarity Rank: 2640
    University First Federal Credit Union
    Similarity Rank: 2700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $29,905,000 $269,414 $4,486 2.81%

    For 2021, Transwest Credit Union's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 68 $18,610,000 $273,676 $4,390 2.88%
    Refi 26 $6,030,000 $231,923 $4,401 2.58%
    Home Purchase 12 $3,850,000 $320,833 $4,868 2.95%
    Home Improvement 5 $1,415,000 $283,000 $5,391 2.83%

    For 2021, Transwest Credit Union's most frequently cited loan purpose was Cash Out Refi, with 68 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $24,295,000 $299,938 $4,799 2.94%
    15 Year 19 $3,395,000 $178,684 $3,695 2.42%
    20 Year 7 $1,735,000 $247,857 $4,113 2.77%
    10 Year 4 $480,000 $120,000 $2,647 2.16%

    For 2021, Transwest Credit Union's most frequently cited loan duration was 30 Year, with 81 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 46 $11,280,000 $245,217
    $3k-4k 24 $7,340,000 $305,833
    $1k-2k 21 $2,805,000 $133,571
    $4k-5k 12 $4,950,000 $412,500
    $5k+ 7 $3,295,000 $470,714
    $<1k 1 $235,000 $235,000

    Transwest Credit Union's average total fees were $4,799, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 55 $15,815,000 $287,545
    <2.5% 35 $7,105,000 $203,000
    3-4% 19 $6,565,000 $345,526
    4-5% 1 $285,000 $285,000
    6-7% 1 $135,000 $135,000

    During 2021, Transwest Credit Union's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 61 $17,355,000 $284,508 $4,705 2.83%
    $100k-200k 29 $4,345,000 $149,828 $3,351 2.80%
    $400k-600k 12 $5,410,000 $450,833 $6,165 2.85%
    $100,000 or less 6 $540,000 $90,000 $2,586 2.25%
    $600k-1MM 3 $2,255,000 $751,667 $8,166 3.58%

    2021 saw Transwest Credit Union place emphasis on $200k-400k loans with 61 originations, totaling $17,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $8,290,000 $243,824 $4,277 2.89%
    $100k-150k 28 $9,240,000 $330,000 $5,204 2.86%
    $50k or less 20 $3,700,000 $185,000 $3,469 2.82%
    $75k-100k 18 $4,300,000 $238,889 $4,082 2.55%
    $150k-250k 8 $3,240,000 $405,000 $5,772 2.95%
    $250k+ 3 $1,135,000 $378,333 $6,167 2.71%

    Transwest Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $29,905,000 $269,414 $4,486 2.81%

    Transwest Credit Union lent most frequently to those with DTI ratios of Exempt%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $27,460,000 $264,038 $4,433 2.79%
    Asian 5 $2,065,000 $413,000 $5,637 2.70%
    Black 2 $380,000 $190,000 $4,355 4.56%

    Approval Rates

    Total approvals of all applications
    97.58%

    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 origination
    93.69%

    Transwest Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 111 $29,905,000 $269,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    111 $29,905,000 $269,414

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,005,000 $148,333 $3,301 2.74%
    40-60% 34 $8,590,000 $252,647 $4,278 2.79%
    60-80% 41 $14,735,000 $359,390 $5,384 2.88%
    80-100% 8 $2,490,000 $311,250 $5,090 2.88%
    Under 20% 1 $85,000 $85,000 $2,836 2.25%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    TRANSUNION INTERMEDIATE HOLDINGS, INC. Conventional home mortgage Improper use of your report 5 14.7%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. Conventional home mortgage Incorrect information on your report 14 41.2%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 6 17.6%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. FHA mortgage Incorrect information on your report 3 8.8%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. Other type of mortgage Incorrect information on your report 1 2.9%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. VA mortgage Incorrect information on your report 3 8.8%
    TRANSUNION INTERMEDIATE HOLDINGS, INC. VA mortgage Problem with a credit reporting company's investigation into an existing problem 1 2.9%