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, Muscatine, Clinton, Waterloo, and Sterling among others. We have data for 11 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 10.55% 11/17/24
    30 Year Conventional Refi 9.60% 11/17/24
    30 Year Cash-out Refi 10.04% 11/17/24
    30 Year VA Purchase 6.27% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    15 Year Conventional Purchase 8.66% 11/17/24
    15 Year Conventional Refi 8.59% 11/17/24
    15 Year Cash-out Refi 8.59% 11/17/24
    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

    286

    Origination Dollar Volume (All Markets)

    $26,620,000
    Show all (5) 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) 229 $21,315,000 $93,079 $1,518 4.19%
    Outside of Metro Areas 33 $2,895,000 $87,727 $1,567 4.27%
    Muscatine, IA (FHA|USDA|VA) 12 $840,000 $70,000 $1,249 4.50%
    Clinton, IA (FHA|USDA|VA) 3 $495,000 $165,000 $2,137 3.92%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $335,000 $335,000 $2,281 4.38%
    Sterling, IL (FHA|USDA|VA) 3 $295,000 $98,333 $2,296 3.67%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $285,000 $285,000 $2,916 3.13%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.00%
    DECATUR, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
    IOWA CITY, IA (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.75%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $15,000 $15,000 $725 5.00%
    R.i.a. Federal Credit Union's top markets include Davenport, Muscatine, Clinton, Waterloo, and Sterling 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.

    THE FAMILY CREDIT UNION
    Similarity Rank: 84
    ASCENTRA
    Similarity Rank: 135
    R.I.A. Federal Credit Union
    Similarity Rank: 154
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 200
    DuTrac Community Credit Union
    Similarity Rank: 250
    GAS AND ELECTRIC CREDIT UNION
    Similarity Rank: 272
    Collins Community Credit Union
    Similarity Rank: 330
    SENB Bank
    Similarity Rank: 506
    RUHL MORTGAGE, LLC
    Similarity Rank: 880
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 1054

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $23,215,000 $108,991 $1,533 4.17%
    HELOC 73 $3,405,000 $46,644 n/a 4.34%

    For 2022, R.i.a. Federal Credit Union's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was HELOC, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 106 $9,160,000 $86,415 $1,397 3.86%
    Home Purchase 66 $11,380,000 $172,424 $2,348 4.10%
    Home Improvement 65 $2,965,000 $45,615 $555 4.68%
    Other 27 $1,225,000 $45,370 $556 5.47%
    Refi 22 $1,890,000 $85,909 $1,634 3.33%

    For 2022, R.i.a. Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 106 originations. The 2nd most popular reason was Home Purchase, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 89 $5,645,000 $63,427 $1,906 4.13%
    30 Year 89 $14,335,000 $161,067 $2,195 3.93%
    10 Year 66 $3,170,000 $48,030 $542 4.98%
    20 Year 29 $3,175,000 $109,483 $1,994 3.61%
    5 Year 13 $295,000 $22,692 $445 4.21%

    For 2022, R.i.a. Federal Credit Union's most frequently cited loan duration was 15 Year, with 89 originations. The 2nd most popular length was 30 Year, with 89 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 213 $23,215,000 $108,991

    R.i.a. Federal Credit Union's average total fees were $2,195, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 213 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 113 $10,285,000 $91,018
    4-5% 98 $9,580,000 $97,755
    2.5-3% 24 $3,130,000 $130,417
    6-7% 23 $1,235,000 $53,696
    5-6% 18 $1,240,000 $68,889
    <2.5% 7 $965,000 $137,857
    7-8% 3 $185,000 $61,667

    During 2022, R.i.a. Federal Credit Union's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 192 $9,010,000 $46,927 $1,103 4.37%
    $100k-200k 63 $8,795,000 $139,603 $1,999 3.97%
    $200k-400k 27 $6,995,000 $259,074 $2,400 3.78%
    $400k-600k 4 $1,820,000 $455,000 $2,384 3.63%

    2022 saw R.i.a. Federal Credit Union place emphasis on $100,000 or less loans with 192 originations, totaling $9,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $5,240,000 $90,345 $1,666 4.19%
    $50k or less 56 $3,530,000 $63,036 $1,563 4.06%
    $100k-150k 52 $6,220,000 $119,615 $1,690 4.36%
    $75k-100k 44 $4,490,000 $102,045 $1,503 4.25%
    $150k-250k 12 $2,060,000 $171,667 $1,424 4.33%
    $250k+ 4 $510,000 $127,500 $2,478 4.09%

    R.i.a. Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $50k or less, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $6,055,000 $106,228 $1,725 3.86%
    30-36% 27 $2,735,000 $101,296 $1,559 4.07%
    <20% 18 $1,000,000 $55,556 $1,336 3.48%
    42% 9 $955,000 $106,111 $1,535 4.21%
    37% 9 $585,000 $65,000 $1,923 4.61%
    44% 9 $645,000 $71,667 $1,063 4.25%
    36% 7 $995,000 $142,143 $1,756 2.98%
    40% 6 $790,000 $131,667 $1,754 4.94%
    41% 6 $450,000 $75,000 $1,237 4.60%
    43% 6 $1,080,000 $180,000 $2,036 3.63%
    38% 5 $735,000 $147,000 $2,297 4.40%
    39% 3 $225,000 $75,000 $1,113 4.54%
    46% 1 $155,000 $155,000 $2,326 5.38%
    45% 1 $125,000 $125,000 $2,156 3.00%

    R.i.a. Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 172 $14,330,000 $83,314 $1,469 4.19%
    Not provided 107 $11,525,000 $107,710 $1,603 4.25%
    Black 3 $525,000 $175,000 $2,380 4.17%
    Asian 2 $100,000 $50,000 $1,839 3.75%
    Not applicable 1 $95,000 $95,000 $2,066 3.88%
    American Indian 1 $45,000 $45,000 $491 5.00%

    Approval Rates

    Total approvals of all applications
    87.13%

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

    Pick Rate

    Approvals leading to origination
    62.59%

    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 286 $26,620,000 $93,077

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    286 $26,620,000 $93,077

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $1,440,000 $51,429 $665 4.76%
    40-60% 27 $2,215,000 $82,037 $1,537 3.78%
    60-80% 40 $5,440,000 $136,000 $1,961 3.55%
    80-100% 36 $6,400,000 $177,778 $2,254 3.63%
    Under 20% 34 $1,060,000 $31,176 $563 4.47%