Is Western Vista Federal Credit U An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Western Vista Federal Credit U with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.02%)
Loan Related Closing Costs: higher than average (+$818)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Western Vista Federal Credit U originated 182 mortgages, a national market share of 0.0%. It was most active in WY (1.5% market share), MT (0.0% market share), and SD (0.0% market share).

On average, Western Vista Federal Credit U’s interest rates were similar to those of comparable mortgages at other lenders (-0.02%).1The comparable mortgages control for Western Vista Federal Credit U’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $4106, which was higher than those of comparable mortgages at $3288, with a difference of +$818. Overall, we estimate that Western Vista Federal Credit U tends to be an expensive lender, with a cost-adjusted-rate difference of +0.05% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Western Vista Federal Credit U.

Western Vista Federal Credit U originated Conforming mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Western Vista Federal Credit U compared to other lenders

Conforming
Interest Rate Difference -0.02%
Loan related Closing Cost Difference +$818
Cost Adjusted Rate Difference +0.05%

Based on the table above, Western Vista Federal Credit U is more expensive than other lenders for Conforming purchase mortgages.

Other information about Western Vista Federal Credit U:

Regulator: National Credit Union Administration (NCUA) 
Registered city and state: CHEYENNE, WY, 82003

Footnotes   [ + ]

1. The comparable mortgages control for Western Vista Federal Credit U’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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