R-g Federal Credit Union Mortgage Rates, Fees & Info
Belton, MOLEI: 254900RWHE2VKSDDXT72
Tax ID: 44-0622736
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Mortgage Data
Review & Overview
R-g Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. R-g Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Warrensburg, Sedalia, Springfield, and Jefferson City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)R-g Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. R-g Federal Credit Union is typically a high 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.11% | 11/17/24 |
| 30 Year Conventional Refi | 6.25% | 11/17/24 |
| 30 Year Cash-out Refi | 6.36% | 11/17/24 |
| 30 Year VA Purchase | 5.40% | 11/17/24 |
| 15 Year Conventional Purchase | 5.38% | 11/17/24 |
| 15 Year Conventional Refi | 6.13% | 11/17/24 |
| 15 Year Cash-out Refi | 6.13% | 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-g Federal Credit Union Mortgage Calculator
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This is not an official calculator from R-g Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
47Origination Dollar Volume (All Markets)
$5,635,000Relative Rate
R-g Federal Credit Union's average 30 year fixed mortgage rate was
6.96%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.48%.
Relative Fees (Closing Costs)
R-g Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,750.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 31 | $4,115,000 | $132,742 | $4,630 | 8.26% |
| Warrensburg, MO (FHA|USDA|VA) | 9 | $795,000 | $88,333 | $2,914 | 8.21% |
| Outside of Metro Areas | 3 | $245,000 | $81,667 | $2,256 | 7.93% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $12,225 | 6.75% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,498 | 7.45% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,115 | 6.30% |
| Mexico, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $851 | 10.10% |
Similar Lenders
We use machine learning to identify the top lenders compared against R-G Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $5,155,000 | $114,556 | $3,927 | 8.26% |
| VA | 2 | $480,000 | $240,000 | $11,251 | 6.30% |
For 2023, R-g Federal Credit Union's most frequently originated type of loan was Conventional, with 45 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2023, R-g Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 25 originations. The 2nd most popular reason was Home Improvement, with 12 originations.
Loan Duration/Length
For 2023, R-g Federal Credit Union's most frequently cited loan duration was 15 Year, with 27 originations. The 2nd most popular length was 30 Year, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 28 | $1,260,000 | $45,000 |
| $1k-2k | 13 | $1,955,000 | $150,385 |
| $2k-3k | 4 | $1,040,000 | $260,000 |
| $5k+ | 2 | $1,380,000 | $690,000 |
R-g Federal Credit Union's average total fees were $9,750, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 25 | $1,605,000 | $64,200 |
| 7-8% | 12 | $1,930,000 | $160,833 |
| 6-7% | 9 | $1,815,000 | $201,667 |
| 5-6% | 1 | $285,000 | $285,000 |
During 2023, R-g Federal Credit Union's average interest rate for loans was 6.96%, while their most frequently originated rate bucket for loans was Over 8%, with 25 originations.
Loan Sizing
2023 saw R-g Federal Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,260,000 in origination value.
Applicant Income
R-g Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
R-g Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 11 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.67%
R-g Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination93.62%
R-g Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 47 | $5,635,000 | $119,894 |