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

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  • 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, Wausau, and Faribault among others. We have data for 34 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% 4/18/24
    30 Year Conventional Purchase 6.23% 4/18/24
    30 Year Conventional Refi 6.45% 4/18/24
    30 Year Cash-out Refi 6.64% 4/18/24
    30 Year FHA Purchase 7.40% 4/18/24
    30 Year FHA Refi 7.41% 4/18/24
    30 Year VA Purchase 6.40% 4/18/24
    30 Year VA Refi 5.82% 4/18/24
    30 Year USDA Purchase 6.83% 4/18/24
    30 Year USDA Refi 6.27% 4/18/24
    15 Year Conventional Purchase 5.83% 4/18/24
    15 Year Conventional Refi 5.84% 4/18/24
    15 Year Cash-out Refi 5.84% 4/18/24
    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

    4,873

    Origination Dollar Volume (All Markets)

    $671,985,000
    Show all (5) 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) 2,242 $290,210,000 $129,442 $2,548 4.81%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1,192 $213,540,000 $179,144 $3,174 5.02%
    Outside of Metro Areas 1,031 $112,975,000 $109,578 $2,444 5.05%
    Menomonie, WI (FHA|USDA|VA) 224 $26,580,000 $118,661 $2,463 4.95%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 62 $6,970,000 $112,419 $2,638 4.96%
    Faribault-Northfield, MN (FHA|USDA|VA) 5 $3,975,000 $795,000 $5,143 3.62%
    DULUTH, MN-WI (FHA|USDA|VA) 21 $3,025,000 $144,048 $2,733 4.51%
    MADISON, WI (FHA|USDA|VA) 11 $2,355,000 $214,091 $4,042 4.72%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 9 $1,615,000 $179,444 $2,612 4.53%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 10 $1,560,000 $156,000 $2,414 3.86%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 12 $1,250,000 $104,167 $2,210 4.58%
    Brainerd, MN (FHA|USDA|VA) 6 $1,220,000 $203,333 $4,455 4.63%
    GREEN BAY, WI (FHA|USDA|VA) 5 $1,145,000 $229,000 $2,256 3.60%
    Owatonna, MN (FHA|USDA|VA) 1 $845,000 $845,000 $0 4.40%
    Willmar, MN (FHA|USDA|VA) 3 $845,000 $281,667 $4,155 5.17%
    ROCHESTER, MN (FHA|USDA|VA) 7 $705,000 $100,714 $2,298 4.93%
    ST. CLOUD, MN (FHA|USDA|VA) 3 $455,000 $151,667 $2,605 4.04%
    Red Wing, MN (FHA|USDA|VA) 5 $375,000 $75,000 $0 7.00%
    Hutchinson, MN (FHA|USDA|VA) 3 $375,000 $125,000 $2,202 3.88%
    Stevens Point, WI (FHA|USDA|VA) 4 $350,000 $87,500 $2,229 4.66%
    Grand Rapids, MN (FHA|USDA|VA) 2 $230,000 $115,000 $2,101 4.75%
    TUCSON, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $3,759 4.38%
    SHEBOYGAN, WI (FHA|USDA|VA) 2 $180,000 $90,000 $3,493 4.56%
    APPLETON, WI (FHA|USDA|VA) 1 $135,000 $135,000 $1,139 3.50%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $130,000 $65,000 $1,983 5.19%
    RACINE, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.25%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $3,864 4.50%
    Winona, MN (FHA|USDA|VA) 1 $125,000 $125,000 $2,271 4.50%
    MANKATO, MN (FHA|USDA|VA) 1 $105,000 $105,000 $3,269 4.38%
    Fergus Falls, MN (FHA|USDA|VA) 1 $95,000 $95,000 $1,958 3.63%
    Fairmont, MN (FHA|USDA|VA) 1 $55,000 $55,000 $3,274 4.38%
    FARGO, ND-MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.50%
    Marshall, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.50%
    Baraboo, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.00%
    Royal Credit Union's top markets include Eau Claire, Minneapolis, Menomonie, Wausau, and Faribault 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.

    Prevail Bank
    Similarity Rank: 96
    CO-OP Credit Union
    Similarity Rank: 204
    Peoples State Bank
    Similarity Rank: 253
    CoVantage Credit Union
    Similarity Rank: 368
    Citizens State Bank of La Crosse
    Similarity Rank: 406
    University of Wisconsin Credit Union
    Similarity Rank: 432
    IncredibleBank
    Similarity Rank: 440
    mBank
    Similarity Rank: 870
    ST. CLOUD FINANCIAL
    Similarity Rank: 978
    South Metro Federal Credit Union
    Similarity Rank: 1088

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,649 $532,355,000 $200,965 $2,670 3.84%
    HELOC 2,220 $139,050,000 $62,635 n/a 6.20%
    USDA 4 $580,000 $145,000 $3,371 4.19%

    For 2019, Royal Credit Union's most frequently originated type of loan was Conventional, with 2,649 originations. Their 2nd most popular type was HELOC, with 2,220 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,554 $303,060,000 $195,019 $2,887 4.19%
    Other 1,428 $113,070,000 $79,181 $2,571 5.85%
    Home Improvement 879 $77,405,000 $88,060 $3,118 6.09%
    Refi 520 $97,720,000 $187,923 $1,799 3.68%
    Cash Out Refi 492 $80,730,000 $164,085 $2,977 3.70%

    For 2019, Royal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,554 originations. The 2nd most popular reason was Other, with 1,428 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,898 $462,360,000 $118,615 $2,828 5.23%
    15 Year 516 $85,380,000 $165,465 $2,193 3.34%
    20 Year 199 $36,975,000 $185,804 $2,761 4.13%
    Other 91 $52,015,000 $571,593 $2,064 4.57%
    10 Year 83 $7,425,000 $89,458 $1,374 3.57%
    30+ year 66 $22,080,000 $334,545 $3,793 3.09%
    3 Year 12 $2,370,000 $197,500 $0 5.53%
    1 Year 5 $2,435,000 $487,000 $0 4.82%
    5 Year 3 $945,000 $315,000 $0 4.17%

    For 2019, Royal Credit Union's most frequently cited loan duration was 30 Year, with 3,898 originations. The 2nd most popular length was 15 Year, with 516 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,439 $236,995,000 $164,694
    $1k-2k 637 $133,485,000 $209,553
    $2k-3k 235 $49,425,000 $210,319
    $3k-4k 110 $25,420,000 $231,091
    $4k-5k 48 $12,200,000 $254,167
    $5k+ 46 $13,970,000 $303,696

    Royal Credit Union's average total fees were $2,828, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,439 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,675 $329,045,000 $196,445
    4-5% 1,241 $193,755,000 $156,128
    5-6% 770 $54,290,000 $70,506
    6-7% 521 $27,905,000 $53,560
    7-8% 360 $17,960,000 $49,889
    2.5-3% 178 $42,920,000 $241,124
    Over 8% 124 $5,210,000 $42,016

    During 2019, Royal Credit Union's average interest rate for loans was 5.23%, while their most frequently originated rate bucket for loans was 3-4%, with 1,675 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,308 $112,830,000 $48,886 $1,993 5.82%
    $100k-200k 1,481 $215,935,000 $145,804 $2,520 4.26%
    $200k-400k 959 $253,235,000 $264,062 $3,049 3.89%
    $400k-600k 85 $38,955,000 $458,294 $4,060 3.77%
    $600k-1MM 28 $21,130,000 $754,643 $5,220 4.08%
    $1MM+ 12 $29,900,000 $2,491,667 $9,828 4.08%

    2019 saw Royal Credit Union place emphasis on $100,000 or less loans with 2,308 originations, totaling $112,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,188 $135,600,000 $114,141 $2,505 4.86%
    $100k-150k 1,113 $166,595,000 $149,681 $2,874 4.99%
    $75k-100k 881 $111,435,000 $126,487 $2,813 5.04%
    $50k or less 879 $78,775,000 $89,619 $2,299 4.73%
    $150k-250k 444 $79,070,000 $178,086 $3,234 4.99%
    $250k+ 95 $23,005,000 $242,158 $3,405 4.71%

    Royal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,188 originations. The second most popular income band? $100k-150k, with 1,113 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,330 $167,700,000 $126,090 $2,511 4.86%
    30-36% 952 $125,730,000 $132,069 $2,739 4.97%
    <20% 458 $46,990,000 $102,598 $2,290 4.85%
    44% 251 $27,565,000 $109,821 $2,843 5.43%
    39% 201 $26,275,000 $130,721 $2,837 5.22%
    42% 197 $25,745,000 $130,685 $2,902 4.92%
    43% 192 $23,140,000 $120,521 $2,807 5.13%
    37% 179 $23,215,000 $129,693 $2,565 4.96%
    38% 173 $23,375,000 $135,116 $2,827 5.00%
    41% 169 $23,025,000 $136,243 $2,714 4.89%
    36% 169 $23,055,000 $136,420 $2,831 4.94%
    40% 158 $20,560,000 $130,127 $2,542 4.98%
    45% 69 $11,025,000 $159,783 $2,638 4.34%
    46% 55 $10,135,000 $184,273 $3,072 4.21%
    47% 47 $6,825,000 $145,213 $3,026 4.12%
    49% 47 $9,315,000 $198,191 $2,849 4.17%
    48% 46 $8,250,000 $179,348 $2,858 4.08%
    50-60% 5 $965,000 $193,000 $3,540 4.08%
    >60% 4 $470,000 $117,500 $1,890 5.44%

    Royal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,330 originations. The next most common DTI ratio? 30-36%, with 952 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,876 $520,880,000 $134,386 $2,658 4.81%
    Not provided 792 $77,340,000 $97,652 $2,684 5.51%
    Not applicable 125 $60,565,000 $484,520 $0 4.75%
    Asian 53 $9,585,000 $180,849 $3,239 4.23%
    Black 16 $2,080,000 $130,000 $2,632 5.37%
    Asian Indian 1 $795,000 $795,000 $4,874 3.50%
    American Indian 7 $335,000 $47,857 $2,540 5.75%
    Other Asian 2 $320,000 $160,000 $3,147 3.94%
    Filipino 1 $85,000 $85,000 $2,033 3.88%

    Approval Rates

    Total approvals of all applications
    90.97%

    Royal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.87%

    Royal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,873 $671,985,000 $137,900

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $225,000 $225,000
    Multifamily:Site-Built 37 $40,355,000 $1,090,676
    Single Family (1-4 Units):Manufactured 78 $6,890,000 $88,333
    Single Family (1-4 Units):Site-Built 4,757 $624,515,000 $131,283

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 911 $61,525,000 $67,536 $1,608 5.88%
    40-60% 476 $63,170,000 $132,710 $1,969 4.53%
    60-80% 1,204 $251,040,000 $208,505 $2,847 4.01%
    80-100% 1,183 $244,975,000 $207,079 $2,833 4.04%
    Over 100% 24 $13,020,000 $542,500 $5,021 4.46%
    Under 20% 1,062 $36,330,000 $34,209 $1,220 6.28%