Rock Valley Credit Union Mortgage Rates, Fees & Info

Loves Park, IL

LEI: 254900XIJWVBUNAUBG18

Tax ID: 36-2659309

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

    Rock Valley Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Rock Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rockford, Rochelle, Dixon, Janesville, and Freeport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rock Valley 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. Rock Valley 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
    30 Year Conventional Purchase 6.27% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 5.68% 4/28/24
    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.

    Rock Valley Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Rock Valley 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

    119

    Origination Dollar Volume (All Markets)

    $9,145,000

    Awards

    Rock Valley Credit Union 30 Year Conventional Loans gold Rock Valley 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
    ROCKFORD, IL (FHA|USDA|VA) 98 $7,590,000 $77,449 $1,536 5.02%
    Rochelle, IL (FHA|USDA|VA) 13 $785,000 $60,385 $1,207 4.89%
    Dixon, IL (FHA|USDA|VA) 3 $235,000 $78,333 $1,658 4.72%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $225,000 $225,000 $2,282 5.41%
    Outside of Metro Areas 1 $185,000 $185,000 $2,078 3.61%
    Freeport, IL (FHA|USDA|VA) 2 $100,000 $50,000 $1,581 4.26%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.50%
    Rock Valley Credit Union's top markets include Rockford, Rochelle, Dixon, Janesville, and Freeport among others.

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

    • Similar Lenders

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

    Rock Valley Credit Union
    Similarity Rank: 91
    First Community Credit Union
    Similarity Rank: 100
    Stillman Bank
    Similarity Rank: 350
    The First National Bank and Trust Company
    Similarity Rank: 357
    Blackhawk Community Credit Union
    Similarity Rank: 360
    Byron Bank
    Similarity Rank: 588
    MORTGAGE CENTER L.C
    Similarity Rank: 640
    FIRST NORTHERN Credit Union
    Similarity Rank: 740
    NORTHWEST BANK OF ROCKFORD
    Similarity Rank: 882
    Midwest Community Bank
    Similarity Rank: 1512

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $8,735,000 $80,138 $1,522 4.99%
    HELOC 10 $410,000 $41,000 n/a 4.83%

    For 2022, Rock Valley Credit Union's most frequently originated type of loan was Conventional, with 109 originations. Their 2nd most popular type was HELOC, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 97 $6,655,000 $68,608 $1,203 4.99%
    Home Purchase 22 $2,490,000 $113,182 $2,782 4.92%

    For 2022, Rock Valley Credit Union's most frequently cited loan purpose was Refi, with 97 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 62 $2,630,000 $42,419 $937 5.40%
    30 Year 23 $3,155,000 $137,174 $2,422 5.11%
    20 Year 16 $1,970,000 $123,125 $1,988 3.83%
    15 Year 9 $775,000 $86,111 $1,607 3.65%
    Other 7 $525,000 $75,000 $1,768 5.01%
    5 Year 2 $90,000 $45,000 $1,740 5.43%

    For 2022, Rock Valley Credit Union's most frequently cited loan duration was 10 Year, with 62 originations. The 2nd most popular length was 30 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 109 $8,735,000 $80,138

    Rock Valley Credit Union's average total fees were $2,422, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 57 $3,615,000 $63,421
    3-4% 21 $2,045,000 $97,381
    4-5% 16 $1,520,000 $95,000
    2.5-3% 10 $980,000 $98,000
    6-7% 8 $680,000 $85,000
    7-8% 7 $305,000 $43,571

    During 2022, Rock Valley Credit Union's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $4,035,000 $46,379 $1,264 5.11%
    $100k-200k 26 $3,710,000 $142,692 $2,156 4.64%
    $200k-400k 6 $1,400,000 $233,333 $2,079 4.60%

    2022 saw Rock Valley Credit Union place emphasis on $100,000 or less loans with 87 originations, totaling $4,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,240,000 $80,000 $1,662 4.73%
    $50k or less 28 $1,740,000 $62,143 $1,743 4.67%
    $75k-100k 27 $2,215,000 $82,037 $1,423 5.10%
    $100k-150k 22 $1,570,000 $71,364 $1,369 5.43%
    $150k-250k 14 $1,380,000 $98,571 $1,247 5.16%

    Rock Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $3,215,000 $82,436 $1,597 4.79%
    30-36% 24 $1,480,000 $61,667 $1,291 4.89%
    <20% 18 $1,080,000 $60,000 $1,621 5.30%
    41% 6 $630,000 $105,000 $1,272 5.21%
    42% 6 $300,000 $50,000 $1,196 5.45%
    43% 5 $545,000 $109,000 $2,274 5.03%
    37% 4 $370,000 $92,500 $1,240 4.65%
    36% 4 $410,000 $102,500 $1,542 4.82%
    44% 4 $320,000 $80,000 $1,662 4.85%
    39% 2 $100,000 $50,000 $831 4.83%
    38% 2 $180,000 $90,000 $2,182 6.10%
    47% 1 $75,000 $75,000 $1,708 4.38%
    40% 1 $15,000 $15,000 $292 5.63%
    48% 1 $15,000 $15,000 $658 5.63%
    45% 1 $225,000 $225,000 $2,282 5.41%
    50-60% 1 $185,000 $185,000 $2,078 3.61%

    Rock Valley Credit Union lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $7,920,000 $79,200 $1,486 4.96%
    Not provided 11 $575,000 $52,273 $1,422 5.20%
    Black 3 $235,000 $78,333 $2,147 5.93%
    American Indian 2 $230,000 $115,000 $2,259 4.46%
    Asian 2 $120,000 $60,000 $1,592 3.44%
    Native Hawaiian or Islander 1 $65,000 $65,000 $2,476 4.99%

    Approval Rates

    Total approvals of all applications
    73.33%

    Rock Valley Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.34%

    Rock Valley 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 119 $9,145,000 $76,849

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    119 $9,145,000 $76,849

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $1,215,000 $48,600 $1,018 5.05%
    40-60% 20 $1,890,000 $94,500 $2,032 4.80%
    60-80% 24 $2,790,000 $116,250 $2,082 4.41%
    80-100% 14 $2,170,000 $155,000 $2,403 4.32%
    Under 20% 36 $1,080,000 $30,000 $709 5.66%