Rtp Federal Credit Union Mortgage Rates, Fees & Info
Research Triangle Park, NCLEI: 549300838ZAWQIH9V751
Tax ID: 56-6090165
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Mortgage Data
Review & Overview
Rtp Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Rtp Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Durham, Charlotte, Boone, and Sanford among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Rtp 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.
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 |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 12/17/24 |
| 15 Year Cash-out Refi | 5.68% | 12/17/24 |
| 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. | ||
Rtp 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
45Origination Dollar Volume (All Markets)
$3,285,000Top 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 |
|---|---|---|---|---|---|
| RALEIGH-CARY, NC (FHA|USDA|VA) | 32 | $2,200,000 | $68,750 | $0 | 8.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 8 | $520,000 | $65,000 | $0 | 7.35% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.70% |
| Boone, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 9.45% |
| Sanford, NC (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 7.60% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $3,285,000 | $73,000 | $0 | 8.10% |
For 2023, Rtp Federal Credit Union's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 24 | $1,430,000 | $59,583 | $0 | 8.31% |
| Other | 11 | $645,000 | $58,636 | $0 | 8.54% |
| Refi | 10 | $1,210,000 | $121,000 | $0 | 7.12% |
For 2023, Rtp Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 24 originations. The 2nd most popular reason was Other, with 11 originations.
Loan Duration/Length
For 2023, Rtp Federal Credit Union's most frequently cited loan duration was 15 Year, with 13 originations. The 2nd most popular length was 5 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 38 | $2,880,000 | $75,789 |
Rtp 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 38 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 26 | $1,910,000 | $73,462 |
| 7-8% | 14 | $790,000 | $56,429 |
| 6-7% | 3 | $65,000 | $21,667 |
| 3-4% | 1 | $375,000 | $375,000 |
| 4-5% | 1 | $145,000 | $145,000 |
During 2023, Rtp Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 26 originations.
Loan Sizing
2023 saw Rtp Federal Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $1,505,000 in origination value.
Applicant Income
Rtp Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 13 originations.
Applicant Debt to Income Ratio
Rtp Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.06%
Rtp Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.78%
Rtp Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 38 | $2,880,000 | $75,789 |
| NA | 7 | $405,000 | $57,857 |