Rails West Federal Credit Union Mortgage Rates, Fees & Info
Chubbuck, IDLEI: 2549003ODK1CMS9CMW53
Tax ID: 82-0197267
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Rails West Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Rails West Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Pocatello, Blackfoot, and Logan among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)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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Originations
21Origination Dollar Volume (All Markets)
$1,415,000Top 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) | 15 | $1,045,000 | $69,667 | $1,668 | 7.37% |
| Blackfoot, ID (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $1,440 | 7.49% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $1,888 | 6.92% |
| LOGAN, UT-ID (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $1,309 | 7.14% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $935,000 | $62,333 | $1,658 | 7.64% |
| HELOC | 6 | $480,000 | $80,000 | n/a | 6.49% |
For 2024, Rails West Federal Credit Union's most frequently originated type of loan was Conventional, with 15 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 15 | $1,055,000 | $70,333 | $1,654 | 7.32% |
| Home Improvement | 6 | $360,000 | $60,000 | $1,672 | 7.31% |
For 2024, Rails West Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 15 originations. The 2nd most popular reason was Home Improvement, with 6 originations.
Loan Duration/Length
For 2024, Rails West Federal Credit Union's most frequently cited loan duration was 10 Year, with 7 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $680,000 | $56,667 |
| $1k-2k | 3 | $255,000 | $85,000 |
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% | 9 | $675,000 | $75,000 |
| 7-8% | 7 | $415,000 | $59,286 |
| Over 8% | 5 | $325,000 | $65,000 |
During 2024, 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 9 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 17 | $965,000 | $56,765 | $1,555 | 7.47% |
| $100k-200k | 4 | $450,000 | $112,500 | $3,109 | 6.65% |
2024 saw Rails West Federal Credit Union place emphasis on $100,000 or less loans with 17 originations, totaling $965,000 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? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
Rails West Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 21 | $1,415,000 | $67,381 | $1,658 | 7.31% |
Approval Rates
Total approvals of all applications96.15%
Rails West Federal 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 origination80.95%
Rails West Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 21 | $1,415,000 | $67,381 |