Rtn Federal Credit Union Mortgage Rates, Fees & Info
Waltham, MALEI: 549300LVO0PEC3F2EB53
Tax ID: 04-6017803
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Mortgage Data
Review & Overview
Rtn Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Rtn Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Springfield, and Barnstable Town among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Rtn 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. Rtn 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.
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Originations
74Origination Dollar Volume (All Markets)
$22,930,000Awards
RTN FEDERAL CREDIT UNION - 2023
RTN FEDERAL CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 52 | $17,770,000 | $341,731 | $1,894 | 5.62% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 10 | $2,580,000 | $258,000 | $527 | 6.25% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $0 | 6.13% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 6.50% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 6.13% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 5 | $395,000 | $79,000 | $115 | 6.02% |
| Concord, NH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,417 | 5.75% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against RTN 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 | 74 | $22,930,000 | $309,865 | $1,506 | 5.77% |
For 2023, Rtn Federal Credit Union's most frequently originated type of loan was Conventional, with 74 originations.
Loan Reason
For 2023, Rtn Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Home Improvement, with 17 originations.
Loan Duration/Length
For 2023, Rtn Federal Credit Union's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 55 | $13,135,000 | $238,818 |
| $1k-2k | 3 | $1,275,000 | $425,000 |
Rtn Federal Credit Union's average total fees were $3,224, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 55 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 31 | $9,275,000 | $299,194 |
| 5-6% | 29 | $6,985,000 | $240,862 |
| 4-5% | 14 | $6,670,000 | $476,429 |
During 2023, Rtn Federal Credit Union's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 6-7%, with 31 originations.
Loan Sizing
2023 saw Rtn Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,140,000 in origination value.
Applicant Income
Rtn Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 24 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
Rtn Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 42%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.36%
Rtn Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination93.24%
Rtn Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 74 | $22,930,000 | $309,865 |