Royal Credit Union Mortgage Rates, Fees & Info

Eau Claire, WI

LEI: 549300OZ550X4QD5PC74

Tax ID: 39-6072970

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

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Mortgage Data

Review & Overview

Royal Credit Union is a small credit union specializing in Refi and Home Purchase loans. Royal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Minneapolis, Menomonie, Wausau, and Marinette among others. We have data for 37 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 about average 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% 3/28/24
30 Year Conventional Purchase 6.23% 3/28/24
30 Year Conventional Refi 6.45% 3/28/24
30 Year Cash-out Refi 6.64% 3/28/24
30 Year FHA Purchase 7.40% 3/28/24
30 Year FHA Refi 7.41% 3/28/24
30 Year VA Purchase 6.40% 3/28/24
30 Year VA Refi 5.82% 3/28/24
30 Year USDA Purchase 6.83% 3/28/24
30 Year USDA Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.83% 3/28/24
15 Year Conventional Refi 5.84% 3/28/24
15 Year Cash-out Refi 5.84% 3/28/24
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

6,181

Origination Dollar Volume (All Markets)

$1,025,445,000

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) 2,912 $460,060,000 $157,988 $2,221 3.43%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1,512 $310,750,000 $205,522 $2,612 3.59%
Outside of Metro Areas 1,184 $158,690,000 $134,029 $2,128 3.52%
Menomonie, WI (FHA|USDA|VA) 363 $53,995,000 $148,747 $2,236 3.50%
WAUSAU-WESTON, WI (FHA|USDA|VA) 59 $8,195,000 $138,898 $2,116 3.42%
Marinette, WI-MI (FHA|USDA|VA) 1 $4,535,000 $4,535,000 $0 3.50%
DULUTH, MN-WI (FHA|USDA|VA) 20 $3,370,000 $168,500 $2,086 3.48%
MADISON, WI (FHA|USDA|VA) 15 $2,995,000 $199,667 $1,910 3.30%
Stevens Point, WI (FHA|USDA|VA) 8 $2,810,000 $351,250 $2,523 4.01%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 11 $2,675,000 $243,182 $2,181 3.16%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 13 $2,215,000 $170,385 $1,968 3.15%
Hutchinson, MN (FHA|USDA|VA) 2 $2,080,000 $1,040,000 $3,075 3.83%
Brainerd, MN (FHA|USDA|VA) 9 $1,995,000 $221,667 $2,601 3.63%
ROCHESTER, MN (FHA|USDA|VA) 11 $1,555,000 $141,364 $2,824 3.62%
Faribault-Northfield, MN (FHA|USDA|VA) 4 $1,540,000 $385,000 $3,429 3.56%
Red Wing, MN (FHA|USDA|VA) 8 $1,180,000 $147,500 $2,474 3.86%
GREEN BAY, WI (FHA|USDA|VA) 6 $1,000,000 $166,667 $1,785 3.25%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 5 $775,000 $155,000 $1,242 3.10%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $615,000 $205,000 $3,691 3.25%
ST. CLOUD, MN (FHA|USDA|VA) 4 $600,000 $150,000 $2,287 3.38%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $505,000 $168,333 $2,270 3.29%
Owatonna, MN (FHA|USDA|VA) 2 $470,000 $235,000 $2,607 3.54%
Grand Rapids, MN (FHA|USDA|VA) 2 $320,000 $160,000 $2,502 2.94%
APPLETON, WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 3.38%
Winona, MN (FHA|USDA|VA) 5 $295,000 $59,000 $1,461 3.98%
MANKATO, MN (FHA|USDA|VA) 2 $270,000 $135,000 $2,526 3.44%
Baraboo, WI (FHA|USDA|VA) 2 $270,000 $135,000 $853 3.00%
Alexandria, MN (FHA|USDA|VA) 2 $260,000 $130,000 $0 3.53%
Platteville, WI (FHA|USDA|VA) 2 $230,000 $115,000 $2,086 4.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $145,000 $145,000 $2,268 3.00%
Manitowoc, WI (FHA|USDA|VA) 1 $135,000 $135,000 $3,456 3.50%
FOND DU LAC, WI (FHA|USDA|VA) 1 $125,000 $125,000 $2,433 3.75%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,585 3.25%
Willmar, MN (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.00%
Austin, MN (FHA|USDA|VA) 2 $100,000 $50,000 $2,531 4.13%
RACINE, WI (FHA|USDA|VA) 2 $90,000 $45,000 $3,255 3.44%
Fairmont, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.50%
Royal Credit Union's top markets include Eau Claire, Minneapolis, Menomonie, Wausau, and Marinette among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (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 4,481 $905,825,000 $202,148 $2,290 3.13%
    HELOC 1,700 $119,620,000 $70,365 n/a 4.43%

    For 2020, Royal Credit Union's most frequently originated type of loan was Conventional, with 4,481 originations. Their 2nd most popular type was HELOC, with 1,700 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,637 $345,075,000 $210,797 $1,649 3.23%
    Home Purchase 1,607 $317,045,000 $197,290 $2,755 3.31%
    Other 1,316 $151,960,000 $115,471 $2,089 3.92%
    Cash Out Refi 961 $168,245,000 $175,073 $2,606 3.09%
    Home Improvement 660 $43,120,000 $65,333 $2,724 4.31%

    For 2020, Royal Credit Union's most frequently cited loan purpose was Refi, with 1,637 originations. The 2nd most popular reason was Home Purchase, with 1,607 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,985 $563,175,000 $141,324 $2,619 3.78%
    15 Year 1,177 $196,015,000 $166,538 $1,744 2.79%
    20 Year 586 $122,480,000 $209,010 $2,207 3.26%
    10 Year 218 $27,830,000 $127,661 $1,406 2.77%
    Other 113 $68,585,000 $606,947 $1,799 3.60%
    30+ year 86 $29,790,000 $346,395 $3,641 2.97%
    5 Year 7 $16,275,000 $2,325,000 $0 4.22%
    3 Year 6 $1,020,000 $170,000 $0 4.50%
    1 Year 3 $275,000 $91,667 $0 4.08%

    For 2020, Royal Credit Union's most frequently cited loan duration was 30 Year, with 3,985 originations. The 2nd most popular length was 15 Year, with 1,177 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,503 $407,465,000 $162,791
    $1k-2k 1,083 $223,185,000 $206,080
    $2k-3k 387 $85,445,000 $220,788
    $3k-4k 184 $43,570,000 $236,793
    $4k-5k 76 $18,460,000 $242,895
    $5k+ 55 $14,715,000 $267,545

    Royal Credit Union's average total fees were $2,619, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,503 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,919 $548,395,000 $187,871
    2.5-3% 2,139 $371,545,000 $173,700
    4-5% 437 $37,975,000 $86,899
    5-6% 360 $19,150,000 $53,194
    6-7% 150 $7,470,000 $49,800
    <2.5% 148 $33,070,000 $223,446
    7-8% 21 $985,000 $46,905

    During 2020, Royal Credit Union's average interest rate for loans was 3.78%, while their most frequently originated rate bucket for loans was 3-4%, with 2,919 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,476 $364,980,000 $147,407 $2,098 3.23%
    $100,000 or less 1,997 $109,215,000 $54,690 $1,600 4.11%
    $200k-400k 1,535 $401,865,000 $261,801 $2,780 3.15%
    $400k-600k 128 $58,690,000 $458,516 $3,475 3.14%
    $1MM+ 24 $75,170,000 $3,132,083 $0 3.29%
    $600k-1MM 21 $15,525,000 $739,286 $4,258 3.49%

    2020 saw Royal Credit Union place emphasis on $100k-200k loans with 2,476 originations, totaling $364,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,568 $214,670,000 $136,907 $2,170 3.45%
    $100k-150k 1,356 $239,800,000 $176,844 $2,572 3.51%
    $75k-100k 1,221 $186,445,000 $152,699 $2,360 3.49%
    $50k or less 1,053 $111,015,000 $105,427 $1,905 3.45%
    $150k-250k 559 $112,395,000 $201,064 $2,474 3.55%
    $250k+ 144 $40,040,000 $278,056 $2,873 3.41%

    Royal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,568 originations. The second most popular income band? $100k-150k, with 1,356 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,714 $251,880,000 $146,954 $2,177 3.43%
    30-36% 1,290 $201,030,000 $155,837 $2,282 3.50%
    <20% 621 $85,975,000 $138,446 $1,840 3.34%
    44% 273 $34,175,000 $125,183 $2,478 3.83%
    41% 242 $38,540,000 $159,256 $2,677 3.52%
    39% 225 $36,255,000 $161,133 $2,287 3.67%
    42% 220 $33,680,000 $153,091 $2,614 3.56%
    40% 218 $33,600,000 $154,128 $2,439 3.56%
    43% 211 $32,445,000 $153,768 $2,443 3.57%
    38% 209 $34,485,000 $165,000 $2,315 3.62%
    37% 203 $31,695,000 $156,133 $2,349 3.53%
    36% 195 $31,405,000 $161,051 $2,660 3.52%
    46% 78 $14,190,000 $181,923 $2,379 3.25%
    47% 78 $15,720,000 $201,538 $2,581 3.19%
    45% 74 $14,650,000 $197,973 $2,531 3.20%
    49% 56 $9,970,000 $178,036 $2,625 3.12%
    48% 52 $9,000,000 $173,077 $2,101 3.06%
    >60% 2 $370,000 $185,000 $942 3.06%
    50-60% 2 $170,000 $85,000 $2,086 4.81%

    Royal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,714 originations. The next most common DTI ratio? 30-36%, with 1,290 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,912 $773,600,000 $157,492 $2,271 3.42%
    Not provided 984 $126,890,000 $128,953 $2,311 3.83%
    Not applicable 155 $100,545,000 $648,677 $0 3.82%
    Asian 64 $12,840,000 $200,625 $2,691 3.31%
    Black 28 $4,820,000 $172,143 $2,908 3.43%
    American Indian 21 $3,075,000 $146,429 $3,708 3.93%
    Asian Indian 8 $1,990,000 $248,750 $2,134 3.16%
    Other Asian 5 $855,000 $171,000 $3,418 3.33%
    Chinese 1 $595,000 $595,000 $0 3.75%
    Native Hawaiian or Islander 2 $170,000 $85,000 $1,726 3.94%
    Filipino 1 $65,000 $65,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    92.33%

    Royal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.63%

    Royal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,181 $1,025,445,000 $165,903

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 43 $74,845,000 $1,740,581
    Single Family (1-4 Units):Manufactured 74 $6,820,000 $92,162
    Single Family (1-4 Units):Site-Built 6,064 $943,780,000 $155,637

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 770 $70,940,000 $92,130 $1,377 3.99%
    40-60% 981 $144,595,000 $147,396 $1,582 3.15%
    60-80% 2,098 $443,070,000 $211,187 $2,419 3.17%
    80-100% 1,440 $309,360,000 $214,833 $2,701 3.28%
    Over 100% 21 $25,465,000 $1,212,619 $0 3.39%
    Under 20% 859 $31,025,000 $36,118 $1,154 4.57%