Royal Credit Union Mortgage Rates, Fees & Info

Eau Claire, WI

LEI: 549300OZ550X4QD5PC74

Tax ID: 39-6072970

5 stars - Updated: 7/14/24 - out of 5 stars, based on 66 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Royal Credit Union is a smaller credit union specializing in Home Purchase loans. Royal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Eau Claire, Menomonie, Duluth, and Wausau among others. We have data for 57 markets. (Some data included below & more in-depth data is available with an active subscription.)

Royal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Royal 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.03% 7/14/24
30 Year Conventional Purchase 6.23% 7/14/24
30 Year Conventional Refi 6.45% 7/14/24
30 Year Cash-out Refi 6.64% 7/14/24
30 Year FHA Purchase 7.40% 7/14/24
30 Year FHA Refi 7.41% 7/14/24
30 Year VA Purchase 6.40% 7/14/24
30 Year VA Refi 5.82% 7/14/24
30 Year USDA Purchase 6.83% 7/14/24
30 Year USDA Refi 6.27% 7/14/24
15 Year Conventional Purchase 5.83% 7/14/24
15 Year Conventional Refi 5.84% 7/14/24
15 Year Cash-out Refi 5.84% 7/14/24
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.

Royal Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Royal 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

4,407

Origination Dollar Volume (All Markets)

$805,455,000

Relative Rate

Royal Credit Union's average 30 year fixed mortgage rate was 7.38%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.9%.

Relative Fees (Closing Costs)

Royal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,600.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1,917 $416,035,000 $217,024 $5,529 6.92%
EAU CLAIRE, WI (FHA|USDA|VA) 1,294 $221,700,000 $171,329 $425 7.55%
Outside of Metro Areas 804 $103,970,000 $129,316 $1,020 7.80%
Menomonie, WI (FHA|USDA|VA) 170 $26,680,000 $156,941 $1,000 7.62%
DULUTH, MN-WI (FHA|USDA|VA) 20 $4,620,000 $231,000 $3,468 6.76%
WAUSAU-WESTON, WI (FHA|USDA|VA) 39 $3,465,000 $88,846 $203 8.02%
ST. CLOUD, MN (FHA|USDA|VA) 21 $2,975,000 $141,667 $4,014 5.87%
ROCHESTER, MN (FHA|USDA|VA) 13 $1,925,000 $148,077 $6,773 7.25%
Faribault-Northfield, MN (FHA|USDA|VA) 10 $1,860,000 $186,000 $4,654 6.81%
MADISON, WI (FHA|USDA|VA) 9 $1,805,000 $200,556 $2,026 6.44%
Brainerd, MN (FHA|USDA|VA) 8 $1,790,000 $223,750 $3,807 7.11%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 13 $1,685,000 $129,615 $0 7.63%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 7 $1,575,000 $225,000 $0 6.70%
Red Wing, MN (FHA|USDA|VA) 10 $1,270,000 $127,000 $1,528 6.90%
Fergus Falls, MN (FHA|USDA|VA) 2 $930,000 $465,000 $6,946 7.00%
GREEN BAY, WI (FHA|USDA|VA) 4 $760,000 $190,000 $1,549 7.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $705,000 $235,000 $0 7.42%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 3 $645,000 $215,000 $0 7.46%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $590,000 $295,000 $7,819 6.13%
Hutchinson, MN (FHA|USDA|VA) 3 $585,000 $195,000 $8,786 8.54%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $525,000 $525,000 $9,137 6.50%
Stevens Point, WI (FHA|USDA|VA) 3 $505,000 $168,333 $0 6.96%
Steamboat Springs, CO (FHA|USDA|VA) 1 $475,000 $475,000 $8,125 5.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $455,000 $455,000 $8,594 5.99%
SHEBOYGAN, WI (FHA|USDA|VA) 2 $450,000 $225,000 $1,379 6.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $445,000 $445,000 $10,646 6.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $440,000 $220,000 $6,525 6.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 5 $415,000 $83,000 $0 7.05%
Albert Lea, MN (FHA|USDA|VA) 2 $370,000 $185,000 $0 6.81%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $370,000 $185,000 $0 7.06%
Willmar, MN (FHA|USDA|VA) 4 $360,000 $90,000 $4,728 7.22%
Winona, MN (FHA|USDA|VA) 1 $325,000 $325,000 $0 6.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $315,000 $315,000 $5,948 6.13%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $315,000 $315,000 $4,129 7.00%
Whitewater, WI (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.38%
MANKATO, MN (FHA|USDA|VA) 2 $290,000 $145,000 $11,660 7.19%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $285,000 $285,000 $5,734 6.75%
GREELEY, CO (FHA|USDA|VA) 1 $285,000 $285,000 $5,906 6.00%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $285,000 $285,000 $3,564 6.13%
APPLETON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 7.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $7,519 6.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.75%
Fairmont, MN (FHA|USDA|VA) 1 $205,000 $205,000 $7,645 7.50%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $5,313 5.75%
Marquette, MI (FHA|USDA|VA) 1 $175,000 $175,000 $5,835 7.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,333 5.50%
Brownsville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $3,489 5.50%
Shawano, WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $145,000 $48,333 $0 6.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $4,353 6.63%
FOND DU LAC, WI (FHA|USDA|VA) 2 $120,000 $60,000 $0 8.04%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.63%
Grand Rapids, MN (FHA|USDA|VA) 2 $80,000 $40,000 $0 7.25%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.00%
Baraboo, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
Manitowoc, WI (FHA|USDA|VA) 1 $15,000 $15,000 $0 8.00%
Royal Credit Union's top markets include Minneapolis, Eau Claire, Menomonie, Duluth, and Wausau among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Royal 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 2,138 $591,920,000 $276,857 $2,761 6.21%
    HELOC 2,105 $167,055,000 $79,361 n/a 8.47%
    FHA 153 $42,765,000 $279,510 $11,516 6.58%
    VA 10 $3,570,000 $357,000 $9,548 6.32%
    USDA 1 $145,000 $145,000 $4,780 6.25%

    For 2023, Royal Credit Union's most frequently originated type of loan was Conventional, with 2,138 originations. Their 2nd most popular type was HELOC, with 2,105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,183 $598,495,000 $274,162 $3,608 6.28%
    Home Improvement 1,052 $96,930,000 $92,139 $993 8.36%
    Other 1,012 $80,490,000 $79,536 $783 8.50%
    Cash Out Refi 105 $19,125,000 $182,143 $1,047 6.69%
    Refi 55 $10,415,000 $189,364 $892 6.84%

    For 2023, Royal Credit Union's most frequently cited loan purpose was Home Purchase, with 2,183 originations. The 2nd most popular reason was Home Improvement, with 1,052 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,011 $648,285,000 $161,627 $3,600 7.38%
    30+ year 119 $86,045,000 $723,067 $4,615 6.23%
    20 Year 98 $19,310,000 $197,041 $218 6.45%
    Other 65 $38,255,000 $588,538 $0 6.50%
    10 Year 52 $1,390,000 $26,731 $161 6.90%
    15 Year 49 $10,335,000 $210,918 $465 6.05%
    3 Year 11 $1,605,000 $145,909 $0 8.52%
    1 Year 1 $85,000 $85,000 $0 9.00%
    5 Year 1 $145,000 $145,000 $0 7.35%

    For 2023, Royal Credit Union's most frequently cited loan duration was 30 Year, with 4,011 originations. The 2nd most popular length was 30+ year, with 119 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,273 $285,945,000 $224,623
    $5k+ 284 $125,590,000 $442,218
    $4k-5k 193 $59,305,000 $307,280
    $3k-4k 188 $44,360,000 $235,957
    $1k-2k 133 $36,275,000 $272,744
    $2k-3k 103 $21,215,000 $205,971

    Royal Credit Union's average total fees were $3,600, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,273 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 1,346 $201,060,000 $149,376
    6-7% 1,335 $347,435,000 $260,251
    Over 8% 1,137 $78,735,000 $69,248
    5-6% 448 $169,070,000 $377,388
    <2.5% 122 $1,820,000 $14,918
    4-5% 19 $7,335,000 $386,053

    During 2023, Royal Credit Union's average interest rate for loans was 7.38%, while their most frequently originated rate bucket for loans was 7-8%, with 1,346 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,920 $91,660,000 $47,740 $271 7.86%
    $200k-400k 1,309 $367,635,000 $280,852 $4,125 6.75%
    $100k-200k 859 $125,955,000 $146,630 $1,825 7.21%
    $400k-600k 227 $108,815,000 $479,361 $4,958 6.54%
    $600k-1MM 62 $44,340,000 $715,161 $7,327 6.32%
    $1MM+ 30 $67,050,000 $2,235,000 $15,648 6.15%

    2023 saw Royal Credit Union place emphasis on $100,000 or less loans with 1,920 originations, totaling $91,660,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,115 $187,565,000 $168,220 $3,073 7.73%
    $50k-75k 971 $132,535,000 $136,493 $3,021 6.91%
    $75k-100k 894 $156,270,000 $174,799 $4,018 7.08%
    $150k-250k 641 $135,695,000 $211,693 $3,347 7.65%
    $50k or less 388 $35,720,000 $92,062 $2,273 7.00%
    $250k+ 219 $83,435,000 $380,982 $7,317 7.39%

    Royal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,115 originations. The second most popular income band? $50k-75k, with 971 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 808 $107,090,000 $132,537 $1,684 7.69%
    30-36% 689 $112,055,000 $162,634 $2,534 7.54%
    <20% 348 $43,200,000 $124,138 $1,487 7.58%
    44% 338 $49,240,000 $145,680 $4,438 7.84%
    43% 235 $41,425,000 $176,277 $3,078 7.52%
    42% 234 $43,470,000 $185,769 $3,680 7.40%
    41% 192 $38,490,000 $200,469 $3,457 7.39%
    49% 190 $42,930,000 $225,947 $4,509 5.45%
    39% 178 $29,280,000 $164,494 $3,637 7.63%
    40% 166 $30,160,000 $181,687 $3,159 7.67%
    37% 146 $28,340,000 $194,110 $3,864 7.53%
    38% 144 $26,260,000 $182,361 $3,173 7.39%
    36% 144 $30,760,000 $213,611 $2,735 7.39%
    48% 131 $31,505,000 $240,496 $4,058 5.78%
    47% 115 $28,835,000 $250,739 $3,897 6.01%
    45% 96 $23,540,000 $245,208 $3,954 6.35%
    46% 91 $20,885,000 $229,505 $4,147 5.87%
    50-60% 44 $13,530,000 $307,500 $11,402 6.50%
    >60% 2 $560,000 $280,000 $0 6.50%

    Royal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 808 originations. The next most common DTI ratio? 30-36%, with 689 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,193 $524,655,000 $164,314 $2,664 7.47%
    Not provided 701 $127,865,000 $182,404 $4,061 7.12%
    Not applicable 101 $60,545,000 $599,455 $0 6.67%
    Asian 182 $47,080,000 $258,681 $5,172 6.48%
    Black 121 $21,735,000 $179,628 $6,497 6.34%
    American Indian 91 $20,875,000 $229,396 $6,576 6.25%
    Other Asian 9 $1,515,000 $168,333 $1,778 8.04%
    Vietnamese 2 $390,000 $195,000 $0 6.94%
    Other Pacific Islander 2 $270,000 $135,000 $0 8.00%
    Native Hawaiian 1 $205,000 $205,000 $0 8.50%
    Native Hawaiian or Islander 2 $180,000 $90,000 $0 9.63%
    Filipino 1 $105,000 $105,000 $0 7.50%
    Asian Indian 1 $35,000 $35,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    90.40%

    Royal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.44%

    Royal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,407 $805,455,000 $182,767

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,407 $805,455,000 $182,767

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 778 $71,580,000 $92,005 $1,150 8.30%
    40-60% 355 $63,665,000 $179,338 $1,544 7.28%
    60-80% 635 $214,025,000 $337,047 $2,171 6.72%
    80-100% 1,339 $395,105,000 $295,075 $4,605 6.65%
    Over 100% 7 $6,245,000 $892,143 $16,291 6.61%
    Under 20% 1,293 $54,835,000 $42,409 $242 7.67%