Rails West Federal Credit Union Mortgage Rates, Fees & Info
Chubbuck, IDLEI: 2549003ODK1CMS9CMW53
Tax ID: 82-0197267
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Mortgage Data
Review & Overview
Rails West Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Rails West Federal Credit Union has a high proportion of conventional loans. Their top two markets are Pocatello and Blackfoot .Rails West Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 12/3/24 |
| 15 Year Cash-out Refi | 5.68% | 12/3/24 |
| 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. | ||
Rails West Federal Credit Union Mortgage Calculator
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Originations
26Origination Dollar Volume (All Markets)
$2,210,000Top 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 |
|---|---|---|---|---|---|
| POCATELLO, ID (FHA|USDA|VA) | 19 | $1,485,000 | $78,158 | $2,162 | 6.16% |
| Blackfoot, ID (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $3,851 | 6.52% |
| Outside of Metro Areas | 4 | $200,000 | $50,000 | $1,104 | 6.84% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,965,000 | $93,571 | $2,309 | 6.29% |
| HELOC | 5 | $245,000 | $49,000 | n/a | 6.37% |
For 2023, Rails West Federal Credit Union's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was HELOC, with 5 originations.
Loan Reason
For 2023, Rails West Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 10 originations. The 2nd most popular reason was Home Improvement, with 7 originations.
Loan Duration/Length
For 2023, Rails West Federal Credit Union's most frequently cited loan duration was Other, with 9 originations. The 2nd most popular length was 10 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $570,000 | $47,500 |
| $1k-2k | 3 | $265,000 | $88,333 |
| $2k-3k | 2 | $270,000 | $135,000 |
| $5k+ | 2 | $780,000 | $390,000 |
Rails West Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 12 | $1,050,000 | $87,500 |
| 5-6% | 9 | $975,000 | $108,333 |
| Over 8% | 3 | $85,000 | $28,333 |
| 4-5% | 2 | $100,000 | $50,000 |
During 2023, Rails West Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 12 originations.
Loan Sizing
2023 saw Rails West Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $845,000 in origination value.
Applicant Income
Rails West Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Rails West Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $2,210,000 | $85,000 | $2,309 | 6.31% |
Approval Rates
Total approvals of all applications90.63%
Rails West Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.46%
Rails West Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 26 | $2,210,000 | $85,000 |