R.i.a. Federal Credit Union Mortgage Rates, Fees & Info

Bettendorf, IA

LEI: 254900M3DBBSBUPR5L27

Tax ID: 42-0495795

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    R.i.a. Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. R.i.a. Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Clinton, Muscatine, Sterling, and Iowa City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    R.i.a. 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. R.i.a. Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/3/24
    30 Year Conventional Purchase 10.55% 12/3/24
    30 Year Conventional Refi 9.60% 12/3/24
    30 Year Cash-out Refi 10.04% 12/3/24
    30 Year VA Purchase 6.27% 12/3/24
    30 Year VA Refi 6.27% 12/3/24
    15 Year Conventional Purchase 8.66% 12/3/24
    15 Year Conventional Refi 8.59% 12/3/24
    15 Year Cash-out Refi 8.59% 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.

    R.i.a. Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from R.i.a. Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    173

    Origination Dollar Volume (All Markets)

    $12,045,000

    Awards

    R.I.A. Federal Credit Union 30 Year Conventional Loans silver R.I.A. Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    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
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 133 $9,245,000 $69,511 $923 4.49%
    Outside of Metro Areas 26 $1,770,000 $68,077 $1,117 4.66%
    Clinton, IA (FHA|USDA|VA) 5 $545,000 $109,000 $1,938 4.55%
    Muscatine, IA (FHA|USDA|VA) 4 $220,000 $55,000 $707 3.65%
    Sterling, IL (FHA|USDA|VA) 2 $90,000 $45,000 $1,055 4.12%
    IOWA CITY, IA (FHA|USDA|VA) 1 $75,000 $75,000 $1,779 4.50%
    Galesburg, IL (FHA|USDA|VA) 1 $75,000 $75,000 $1,770 4.50%
    Ottawa, IL (FHA|USDA|VA) 1 $25,000 $25,000 $1,690 4.25%
    R.i.a. Federal Credit Union's top markets include Davenport, Clinton, Muscatine, Sterling, and Iowa City among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against R.I.A. Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    R.I.A. Federal Credit Union
    Similarity Rank: 120
    THE FAMILY CREDIT UNION
    Similarity Rank: 125
    ASCENTRA
    Similarity Rank: 156
    VERIDIAN CREDIT UNION
    Similarity Rank: 230
    GREENSTATE CREDIT UNION
    Similarity Rank: 406
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 510
    RUHL MORTGAGE, LLC
    Similarity Rank: 608
    Farmers & Mechanics Bank
    Similarity Rank: 702
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 795
    Fortress Bank
    Similarity Rank: 1200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $12,045,000 $69,624 $992 4.49%

    For 2018, R.i.a. Federal Credit Union's most frequently originated type of loan was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 115 $5,845,000 $50,826 $683 4.47%
    Home Purchase 49 $5,765,000 $117,653 $1,763 4.54%
    Refi 8 $400,000 $50,000 $809 4.23%
    Home Improvement 1 $35,000 $35,000 $300 6.24%

    For 2018, R.i.a. Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 115 originations. The 2nd most popular reason was Home Purchase, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 60 $2,090,000 $34,833 $503 4.98%
    30 Year 44 $5,630,000 $127,955 $1,770 4.56%
    5 Year 40 $1,100,000 $27,500 $390 3.76%
    20 Year 22 $2,690,000 $122,273 $1,673 4.43%
    15 Year 7 $535,000 $76,429 $1,603 4.18%

    For 2018, R.i.a. Federal Credit Union's most frequently cited loan duration was 10 Year, with 60 originations. The 2nd most popular length was 30 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 173 $12,045,000 $69,624

    R.i.a. Federal Credit Union's average total fees were $1,770, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 102 $9,600,000 $94,118
    3-4% 31 $1,015,000 $32,742
    5-6% 17 $685,000 $40,294
    2.5-3% 13 $405,000 $31,154
    6-7% 10 $340,000 $34,000

    During 2018, R.i.a. Federal Credit Union's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 131 $5,365,000 $40,954 $758 4.48%
    $100k-200k 34 $4,690,000 $137,941 $1,703 4.48%
    $200k-400k 8 $1,990,000 $248,750 $1,806 4.67%

    2018 saw R.i.a. Federal Credit Union place emphasis on $100,000 or less loans with 131 originations, totaling $5,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 47 $3,635,000 $77,340 $1,197 4.40%
    $50k or less 38 $1,930,000 $50,789 $1,026 4.51%
    $100k-150k 34 $2,380,000 $70,000 $814 4.70%
    $75k-100k 33 $2,215,000 $67,121 $885 4.36%
    $150k-250k 16 $1,490,000 $93,125 $946 4.46%
    $250k+ 1 $45,000 $45,000 $600 4.74%

    R.i.a. Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 47 originations. The second most popular income band? $50k or less, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $3,535,000 $64,273 $1,020 4.36%
    30-36% 37 $2,975,000 $80,405 $1,006 4.59%
    <20% 30 $1,350,000 $45,000 $710 4.41%
    37% 8 $540,000 $67,500 $1,140 4.36%
    44% 7 $755,000 $107,857 $1,254 4.60%
    38% 6 $630,000 $105,000 $1,419 4.35%
    36% 6 $590,000 $98,333 $1,043 4.54%
    40% 5 $315,000 $63,000 $967 5.42%
    39% 5 $455,000 $91,000 $1,457 4.32%
    42% 4 $170,000 $42,500 $806 4.62%
    43% 3 $385,000 $128,333 $1,256 4.75%
    41% 2 $60,000 $30,000 $300 4.74%
    45% 2 $60,000 $30,000 $300 4.24%
    46% 1 $25,000 $25,000 $778 5.49%
    47% 1 $85,000 $85,000 $1,590 4.50%
    50-60% 1 $115,000 $115,000 $1,754 4.63%

    R.i.a. Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $8,410,000 $73,772 $1,067 4.39%
    Not provided 48 $2,900,000 $60,417 $827 4.72%
    Black 6 $320,000 $53,333 $794 4.58%
    Asian 3 $275,000 $91,667 $1,171 4.25%
    American Indian 1 $95,000 $95,000 $1,441 4.63%
    Not applicable 1 $45,000 $45,000 $600 4.74%

    Approval Rates

    Total approvals of all applications
    72.64%

    R.i.a. Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    21.39%

    R.i.a. Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 173 $12,045,000 $69,624

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 173 $12,045,000 $69,624

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $1,190,000 $35,000 $415 4.50%
    40-60% 13 $1,005,000 $77,308 $1,087 4.27%
    60-80% 37 $4,255,000 $115,000 $1,511 4.46%
    80-100% 39 $4,435,000 $113,718 $1,716 4.55%
    Under 20% 50 $1,160,000 $23,200 $413 4.50%