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 and Home Improvement 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 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%	12/4/24
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)

$1,880,000

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)	22	$1,600,000	$72,727	$1,385	4.04%
Blackfoot, ID (FHA\|USDA\|VA)	4	$280,000	$70,000	$1,736	3.89%

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

Their top states include:

Idaho (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	26	$1,880,000	$72,308	$1,439	4.02%

For 2020, Rails West Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	13	$1,015,000	$78,077	$1,595	4.19%
Home Improvement	12	$800,000	$66,667	$1,240	3.91%
Refi	1	$65,000	$65,000	$1,792	2.99%

For 2020, Rails West Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 13 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	10	$430,000	$43,000	$919	4.35%
15 Year	8	$930,000	$116,250	$2,190	3.52%
Other	4	$240,000	$60,000	$1,026	4.82%
20 Year	2	$210,000	$105,000	$2,471	2.99%
5 Year	2	$70,000	$35,000	$826	3.79%

For 2020, Rails West Federal Credit Union's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 15 Year, with 8 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	15	$655,000	$43,667
$1k-2k	8	$790,000	$98,750
$2k-3k	3	$435,000	$145,000

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 15 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	15	$865,000	$57,667
2.5-3%	5	$655,000	$131,000
4-5%	3	$255,000	$85,000
6-7%	2	$70,000	$35,000
5-6%	1	$35,000	$35,000

During 2020, Rails West Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 15 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	19	$925,000	$48,684	$1,092	4.24%
$100k-200k	7	$955,000	$136,429	$2,380	3.41%

2020 saw Rails West Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $925,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	8	$610,000	$76,250	$1,590	4.08%
$75k-100k	8	$800,000	$100,000	$1,741	3.84%
$100k-150k	6	$270,000	$45,000	$941	4.40%
$50k or less	4	$200,000	$50,000	$1,277	3.67%

Rails West Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $75k-100k, with 8 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	9	$555,000	$61,667	$1,356	4.07%
20-30%	6	$600,000	$100,000	$1,959	3.81%
<20%	3	$75,000	$25,000	$741	3.61%
39%	2	$210,000	$105,000	$1,893	4.14%
40%	1	$45,000	$45,000	$776	3.99%
41%	1	$35,000	$35,000	$976	6.89%
42%	1	$45,000	$45,000	$776	3.79%
36%	1	$155,000	$155,000	$3,234	2.89%
37%	1	$105,000	$105,000	$801	4.29%
38%	1	$55,000	$55,000	$876	3.99%

Rails West Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? 20-30%, with 6 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	26	$1,880,000	$72,308	$1,439	4.02%

Approval Rates

Total approvals of all applications
87.88%

Rails West Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
88.46%

Rails West Federal Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	26	$1,880,000	$72,308

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	26	$1,880,000	$72,308

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	7	$345,000	$49,286	$1,132	4.15%
40-60%	2	$150,000	$75,000	$1,707	4.19%
60-80%	8	$970,000	$121,250	$2,088	3.59%
80-100%	1	$135,000	$135,000	$3,163	2.89%
Under 20%	8	$280,000	$35,000	$775	4.42%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Ralis Services Corporation	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	12	63.2%
Ralis Services Corporation	Conventional home mortgage	Closing on a mortgage	6	31.6%
Ralis Services Corporation	Conventional home mortgage	Trouble during payment process	1	5.3%