Compeer Financial may present itself as a trusted financial partner with a focus on sustainability, but its mortgage rates have told a different story. For the last two years, Compeer has maintained significantly higher interest rates than most competitors, pushing many homebuyers into less favorable financial positions. Ranked in the bottom 30th percentile of mortgage lenders nationwide, Compeer has been criticized for its slow processing times and lackluster customer service, making it a less-than-ideal choice for borrowers seeking a smooth and cost-effective home financing experience.
See today’s mortgage interest rates on TrueRate.
How Compeer Financial compares to other lenders
| Headquarters | Sun Prairie, Wisconsin |
| Website | compeer.com |
| Rate | 0.56% higher than the median rate |
| Lender fees | $800 (Compeer Financial loan median) |
| Added cost after 1 year, compared to the median interest rate | $1,437 |
| Added cost after 10 years, compared to the median interest rate | $17,271 |
| Added cost after 1 year (vs. Tomo Mortgage) | $4,016 |
| Added cost after 10 years (vs. Tomo Mortgage) | $28,906 |
For a $400,000 mortgage, Compeer Financial’s rates—about 0.56% above the market median—and $800 in lender fees would cost borrowers an estimated $1,437 more in the first year and more than $17,000 over 10 years compared to a typical lender. Compared to low-cost lenders like Tomo Mortgage, the difference is even more stark—up to $28,900 over the life of the loan. If you’re planning to stay in your home for more than a few years, those higher costs can seriously cut into your long-term financial goals. Always compare multiple loan estimates before locking in a rate.
What customers are saying
Borrowers appreciate Compeer Financial’s focus on supporting rural communities and its expertise in agricultural lending. Loan officers are often praised for their understanding of unique rural property needs and for providing personalized service. Many customers highlighted the benefit of working directly with local representatives who understand their financial goals.
However, some borrowers reported inefficiencies in communication during the loan process, including delays in receiving updates or responses. A few reviews also noted frustration with corporate policies that led to slower decision-making compared to smaller, more flexible lenders.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.