Royal Credit Union Mortgage Rates, Fees & Info

Eau Claire, WI

LEI: 549300OZ550X4QD5PC74

Tax ID: 39-6072970

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

    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 a low ratio of USDA loans. Their top markets by origination volume include: Eau Claire, Minneapolis, Menomonie, Marinette, and Wausau among others. We have data for 30 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.03% 4/21/24
    30 Year Conventional Purchase 6.23% 4/21/24
    30 Year Conventional Refi 6.45% 4/21/24
    30 Year Cash-out Refi 6.64% 4/21/24
    30 Year FHA Purchase 7.40% 4/21/24
    30 Year FHA Refi 7.41% 4/21/24
    30 Year VA Purchase 6.40% 4/21/24
    30 Year VA Refi 5.82% 4/21/24
    30 Year USDA Purchase 6.83% 4/21/24
    30 Year USDA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 5.83% 4/21/24
    15 Year Conventional Refi 5.84% 4/21/24
    15 Year Cash-out Refi 5.84% 4/21/24
    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.

    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

    3,643

    Origination Dollar Volume (All Markets)

    $470,555,000

    Awards

    Royal Credit Union 30 Year Conventional Loans bronze Royal Credit Union USDA Loans silver
    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
    EAU CLAIRE, WI (FHA|USDA|VA) 1,624 $196,870,000 $121,225 $2,606 5.06%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 835 $146,425,000 $175,359 $3,229 5.30%
    Outside of Metro Areas 852 $84,280,000 $98,920 $2,300 5.20%
    Menomonie, WI (FHA|USDA|VA) 219 $23,225,000 $106,050 $2,764 5.12%
    Marinette, WI-MI (FHA|USDA|VA) 1 $3,755,000 $3,755,000 $0 4.93%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 34 $3,180,000 $93,529 $2,462 5.64%
    MADISON, WI (FHA|USDA|VA) 13 $2,685,000 $206,538 $3,399 4.44%
    Hutchinson, MN (FHA|USDA|VA) 3 $1,805,000 $601,667 $4,223 4.67%
    DULUTH, MN-WI (FHA|USDA|VA) 12 $1,570,000 $130,833 $2,552 5.34%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 10 $1,090,000 $109,000 $3,054 5.33%
    Brainerd, MN (FHA|USDA|VA) 2 $870,000 $435,000 $4,416 4.38%
    ROCHESTER, MN (FHA|USDA|VA) 6 $720,000 $120,000 $2,551 5.69%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $465,000 $155,000 $2,439 5.50%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $450,000 $225,000 $2,704 4.44%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $340,000 $170,000 $2,704 4.63%
    GREEN BAY, WI (FHA|USDA|VA) 2 $310,000 $155,000 $2,747 4.56%
    Bemidji, MN (FHA|USDA|VA) 1 $305,000 $305,000 $4,159 4.50%
    Faribault-Northfield, MN (FHA|USDA|VA) 2 $290,000 $145,000 $4,724 5.63%
    Red Wing, MN (FHA|USDA|VA) 2 $260,000 $130,000 $3,015 4.38%
    APPLETON, WI (FHA|USDA|VA) 3 $255,000 $85,000 $1,306 5.21%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $250,000 $125,000 $2,478 4.63%
    Baraboo, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,682 5.00%
    Platteville, WI (FHA|USDA|VA) 1 $215,000 $215,000 $3,161 4.50%
    Stevens Point, WI (FHA|USDA|VA) 2 $180,000 $90,000 $2,086 4.75%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.91%
    Beaver Dam, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,204 4.50%
    RACINE, WI (FHA|USDA|VA) 3 $115,000 $38,333 $4,268 6.21%
    Owatonna, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.50%
    Winona, MN (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.63%
    Grand Rapids, MN (FHA|USDA|VA) 1 $15,000 $15,000 $0 6.25%
    Royal Credit Union's top markets include Eau Claire, Minneapolis, Menomonie, Marinette, and Wausau among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (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.

    United Bank a division of Citizens Community Federal N A
    Similarity Rank: 44
    Prevail Bank
    Similarity Rank: 54
    Cloverbelt Credit Union
    Similarity Rank: 85
    AbbyBank
    Similarity Rank: 110
    CO-OP Credit Union
    Similarity Rank: 144
    Peoples State Bank
    Similarity Rank: 306
    CoVantage Credit Union
    Similarity Rank: 315
    Cornerstone State Bank
    Similarity Rank: 408
    University of Wisconsin Credit Union
    Similarity Rank: 486
    MEMBERS COOPERATIVE
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,927 $363,525,000 $188,648 $2,662 4.52%
    HELOC 1,702 $105,340,000 $61,892 n/a 5.87%
    USDA 14 $1,690,000 $120,714 $3,253 4.79%

    For 2018, Royal Credit Union's most frequently originated type of loan was Conventional, with 1,927 originations. Their 2nd most popular type was HELOC, with 1,702 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,492 $286,810,000 $192,232 $2,905 4.63%
    Other 867 $54,295,000 $62,624 $2,649 5.75%
    Home Improvement 810 $71,550,000 $88,333 $2,540 5.89%
    Refi 242 $26,520,000 $109,587 $1,279 4.51%
    Cash Out Refi 232 $31,380,000 $135,259 $2,716 4.40%

    For 2018, Royal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,492 originations. The 2nd most popular reason was Other, with 867 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,951 $310,005,000 $105,051 $2,839 5.35%
    15 Year 252 $32,610,000 $129,405 $2,254 4.07%
    20 Year 159 $37,415,000 $235,314 $2,701 4.72%
    Other 157 $59,075,000 $376,274 $148 4.67%
    30+ year 74 $25,500,000 $344,595 $4,109 3.71%
    10 Year 39 $3,855,000 $98,846 $1,659 4.03%
    3 Year 7 $1,085,000 $155,000 $0 5.16%
    1 Year 3 $285,000 $95,000 $0 5.23%
    5 Year 1 $725,000 $725,000 $0 4.00%

    For 2018, Royal Credit Union's most frequently cited loan duration was 30 Year, with 2,951 originations. The 2nd most popular length was 15 Year, with 252 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,153 $163,715,000 $141,990
    $1k-2k 386 $69,610,000 $180,337
    $2k-3k 151 $30,535,000 $202,219
    $3k-4k 60 $12,440,000 $207,333
    $4k-5k 31 $6,945,000 $224,032
    $5k+ 22 $5,470,000 $248,636

    Royal Credit Union's average total fees were $2,839, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,153 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,938 $309,340,000 $159,618
    5-6% 598 $54,360,000 $90,903
    6-7% 488 $24,360,000 $49,918
    3-4% 370 $68,720,000 $185,730
    7-8% 208 $9,170,000 $44,087
    Over 8% 34 $1,300,000 $38,235
    2.5-3% 1 $85,000 $85,000

    During 2018, Royal Credit Union's average interest rate for loans was 5.35%, while their most frequently originated rate bucket for loans was 4-5%, with 1,938 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,914 $95,860,000 $50,084 $1,772 5.62%
    $100k-200k 1,138 $162,190,000 $142,522 $2,675 4.70%
    $200k-400k 494 $126,560,000 $256,194 $3,433 4.56%
    $400k-600k 56 $25,740,000 $459,643 $4,496 4.35%
    $600k-1MM 23 $16,275,000 $707,609 $5,423 4.49%
    $1MM+ 18 $43,930,000 $2,440,556 $0 4.42%

    2018 saw Royal Credit Union place emphasis on $100,000 or less loans with 1,914 originations, totaling $95,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 869 $93,735,000 $107,865 $2,668 5.10%
    $50k or less 829 $72,195,000 $87,087 $2,330 4.95%
    $100k-150k 723 $94,295,000 $130,422 $3,339 5.33%
    $75k-100k 603 $66,655,000 $110,539 $2,970 5.28%
    $150k-250k 265 $38,755,000 $146,245 $3,309 5.39%
    $250k+ 68 $15,290,000 $224,853 $3,569 5.02%

    Royal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 869 originations. The second most popular income band? $50k or less, with 829 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 832 $85,810,000 $103,137 $2,703 5.20%
    30-36% 624 $71,260,000 $114,199 $2,813 5.21%
    <20% 372 $34,380,000 $92,419 $2,310 5.00%
    44% 165 $16,825,000 $101,970 $3,224 5.44%
    42% 140 $18,800,000 $134,286 $3,013 5.05%
    39% 138 $17,310,000 $125,435 $3,072 5.37%
    41% 138 $15,730,000 $113,986 $2,738 5.16%
    38% 137 $17,385,000 $126,898 $3,055 5.40%
    43% 133 $16,115,000 $121,165 $2,764 5.35%
    36% 116 $11,690,000 $100,776 $2,702 5.43%
    37% 113 $9,905,000 $87,655 $2,601 5.46%
    40% 106 $13,220,000 $124,717 $2,899 5.37%
    48% 67 $11,325,000 $169,030 $2,988 4.60%
    45% 57 $10,085,000 $176,930 $2,787 4.70%
    47% 57 $8,825,000 $154,825 $2,698 4.53%
    49% 57 $9,705,000 $170,263 $3,219 4.61%
    46% 50 $9,160,000 $183,200 $2,931 4.74%
    50-60% 10 $980,000 $98,000 $1,746 5.09%
    >60% 7 $845,000 $120,714 $799 4.55%

    Royal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 832 originations. The next most common DTI ratio? 30-36%, with 624 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,994 $337,660,000 $112,779 $2,650 5.17%
    Not applicable 124 $71,510,000 $576,694 $0 4.88%
    Not provided 461 $52,595,000 $114,089 $2,651 5.10%
    Asian 31 $4,795,000 $154,677 $3,288 5.21%
    Black 17 $2,235,000 $131,471 $4,290 5.68%
    American Indian 11 $1,205,000 $109,545 $3,744 5.66%
    Other Asian 1 $145,000 $145,000 $2,031 4.75%
    Chinese 1 $145,000 $145,000 $0 5.08%
    Vietnamese 1 $135,000 $135,000 $0 4.75%
    Asian Indian 2 $130,000 $65,000 $1,556 5.88%

    Approval Rates

    Total approvals of all applications
    91.15%

    Royal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.57%

    Royal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,643 $470,555,000 $129,167

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 41 $50,745,000 $1,237,683
    Single Family (1-4 Units):Manufactured 66 $4,870,000 $73,788
    Single Family (1-4 Units):Site-Built 3,536 $414,940,000 $117,347

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 735 $46,605,000 $63,408 $1,435 5.71%
    40-60% 380 $48,200,000 $126,842 $1,681 4.82%
    60-80% 719 $150,905,000 $209,882 $2,787 4.60%
    80-100% 1,025 $180,945,000 $176,532 $2,956 4.61%
    Over 100% 19 $17,085,000 $899,211 $0 5.11%
    Under 20% 755 $25,555,000 $33,848 $855 6.06%