Rails West Federal Credit Union Mortgage Rates, Fees & Info

Chubbuck, ID

LEI: 2549003ODK1CMS9CMW53

Tax ID: 82-0197267

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Rails West Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Rails West Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Pocatello, Blackfoot, and Hailey 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 an above average pick rate when compared to similar lenders.

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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
15 Year Conventional Refi	5.68%	12/4/24
15 Year Cash-out Refi	5.68%	12/4/24
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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$2,315,000

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
POCATELLO, ID (FHA\|USDA\|VA)	32	$2,010,000	$62,813	$1,153	4.71%
Blackfoot, ID (FHA\|USDA\|VA)	3	$225,000	$75,000	$1,673	4.29%
Outside of Metro Areas	1	$55,000	$55,000	$1,655	5.00%
Hailey, ID (FHA\|USDA\|VA)	1	$25,000	$25,000	$1,295	3.99%

Rails West Federal Credit Union's top markets include Pocatello, Blackfoot, and Hailey among others.

Their top states include:

Idaho (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	37	$2,315,000	$62,568	$1,212	4.67%

For 2019, Rails West Federal Credit Union's most frequently originated type of loan was Conventional, with 37 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	28	$1,900,000	$67,857	$1,270	4.70%
Home Improvement	8	$370,000	$46,250	$1,055	4.52%
Refi	1	$45,000	$45,000	$870	4.83%

For 2019, Rails West Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 28 originations. The 2nd most popular reason was Home Improvement, with 8 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	16	$890,000	$55,625	$1,224	4.66%
Other	13	$595,000	$45,769	$793	4.75%
15 Year	7	$815,000	$116,429	$2,025	4.71%
5 Year	1	$15,000	$15,000	$776	3.39%

For 2019, Rails West Federal Credit Union's most frequently cited loan duration was 10 Year, with 16 originations. The 2nd most popular length was Other, with 13 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	29	$1,275,000	$43,966
$1k-2k	6	$780,000	$130,000
$2k-3k	1	$185,000	$185,000

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 29 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	26	$1,760,000	$67,692
3-4%	7	$335,000	$47,857
6-7%	2	$50,000	$25,000
5-6%	1	$105,000	$105,000
7-8%	1	$65,000	$65,000

During 2019, Rails West Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 26 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	30	$1,340,000	$44,667	$935	4.64%
$100k-200k	7	$975,000	$139,286	$2,400	4.76%

2019 saw Rails West Federal Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,340,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	17	$1,005,000	$59,118	$1,166	4.48%
$50k-75k	11	$655,000	$59,545	$1,111	4.88%
$100k-150k	7	$575,000	$82,143	$1,474	4.85%
$150k-250k	1	$25,000	$25,000	$976	4.89%
$75k-100k	1	$55,000	$55,000	$1,512	3.99%

Rails West Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $50k-75k, with 11 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	11	$535,000	$48,636	$1,048	4.67%
30-36%	7	$385,000	$55,000	$1,068	4.88%
37%	5	$545,000	$109,000	$1,824	4.74%
<20%	4	$140,000	$35,000	$1,172	3.84%
38%	4	$320,000	$80,000	$1,350	5.34%
36%	3	$95,000	$31,667	$870	4.54%
42%	2	$130,000	$65,000	$598	4.39%
40%	1	$165,000	$165,000	$2,836	4.24%

Rails West Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 7 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	37	$2,315,000	$62,568	$1,212	4.67%

Approval Rates

Total approvals of all applications
92.86%

Rails West Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
94.59%

Rails West Federal Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	37	$2,315,000	$62,568

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	2	$130,000	$65,000
Single Family (1-4 Units):Site-Built	35	$2,185,000	$62,429

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	11	$505,000	$45,909	$796	4.98%
40-60%	5	$485,000	$97,000	$1,562	4.22%
60-80%	7	$795,000	$113,571	$2,079	4.76%
80-100%	2	$160,000	$80,000	$1,831	4.97%
Under 20%	12	$370,000	$30,833	$840	4.46%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
Ralis Services Corporation	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%