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, and Greensboro among others. We have data for 3 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% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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
72Origination Dollar Volume (All Markets)
$4,690,000Top 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) | 54 | $3,630,000 | $67,222 | $0 | 4.91% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 17 | $1,025,000 | $60,294 | $0 | 5.02% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.80% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $4,690,000 | $65,139 | $0 | 4.95% |
For 2018, Rtp Federal Credit Union's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
For 2018, Rtp Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 50 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
For 2018, Rtp Federal Credit Union's most frequently cited loan duration was Other, with 30 originations. The 2nd most popular length was 5 Year, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 24 | $1,630,000 | $67,917 |
| 4-5% | 23 | $1,535,000 | $66,739 |
| 3-4% | 14 | $870,000 | $62,143 |
| 6-7% | 7 | $285,000 | $40,714 |
During 2018, Rtp Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 24 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 54 | $2,180,000 | $40,370 | $0 | 4.98% |
| $100k-200k | 18 | $2,510,000 | $139,444 | $0 | 4.83% |
2018 saw Rtp Federal Credit Union place emphasis on $100,000 or less loans with 54 originations, totaling $2,180,000 in origination value.
Applicant Income
Rtp Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
Rtp Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 52 | $3,460,000 | $66,538 | $0 | 4.82% |
| Black | 17 | $875,000 | $51,471 | $0 | 5.27% |
| Asian | 3 | $355,000 | $118,333 | $0 | 5.43% |
Approval Rates
Total approvals of all applications86.87%
Rtp Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.94%
Rtp Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 1 | $125,000 | $125,000 |
| NA | 71 | $4,565,000 | $64,296 |