Royal Credit Union Mortgage Rates, Fees & Info
Eau Claire, WILEI: 549300OZ550X4QD5PC74
Tax ID: 39-6072970
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Mortgage Data
Review & Overview
Royal Credit Union is a small credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Royal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Minneapolis, Menomonie, Wausau, and Owatonna among others. We have data for 36 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.03% | 11/21/24 |
| 30 Year Conventional Purchase | 6.23% | 11/21/24 |
| 30 Year Conventional Refi | 6.45% | 11/21/24 |
| 30 Year Cash-out Refi | 6.64% | 11/21/24 |
| 30 Year FHA Purchase | 7.40% | 11/21/24 |
| 30 Year FHA Refi | 7.41% | 11/21/24 |
| 30 Year VA Purchase | 6.40% | 11/21/24 |
| 30 Year VA Refi | 5.82% | 11/21/24 |
| 30 Year USDA Purchase | 6.83% | 11/21/24 |
| 30 Year USDA Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.83% | 11/21/24 |
| 15 Year Conventional Refi | 5.84% | 11/21/24 |
| 15 Year Cash-out Refi | 5.84% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6,117Origination Dollar Volume (All Markets)
$1,029,095,000Awards
Royal Credit Union - 2021
Royal Credit Union is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| EAU CLAIRE, WI (FHA|USDA|VA) | 2,829 | $454,655,000 | $160,712 | $69 | 3.16% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1,500 | $315,300,000 | $210,200 | $134 | 3.41% |
| Outside of Metro Areas | 1,240 | $170,310,000 | $137,347 | $120 | 3.33% |
| Menomonie, WI (FHA|USDA|VA) | 357 | $53,315,000 | $149,342 | $5 | 3.31% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 68 | $8,360,000 | $122,941 | $40 | 3.27% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $5,655,000 | $5,655,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 21 | $3,425,000 | $163,095 | $184 | 3.38% |
| MADISON, WI (FHA|USDA|VA) | 8 | $2,180,000 | $272,500 | $0 | 3.31% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $1,865,000 | $373,000 | $0 | 4.15% |
| ROCHESTER, MN (FHA|USDA|VA) | 10 | $1,740,000 | $174,000 | $0 | 3.08% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 9 | $1,305,000 | $145,000 | $0 | 2.65% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,210,000 | $201,667 | $0 | 3.08% |
| Red Wing, MN (FHA|USDA|VA) | 9 | $1,195,000 | $132,778 | $0 | 3.73% |
| MANKATO, MN (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $0 | 3.48% |
| Stevens Point, WI (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $0 | 2.88% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $0 | 3.50% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 8 | $810,000 | $101,250 | $0 | 4.39% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 6 | $680,000 | $113,333 | $0 | 4.10% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 3.69% |
| Baraboo, WI (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 2.69% |
| Willmar, MN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 3.13% |
| ST. CLOUD, MN (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 3.75% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 2.88% |
| APPLETON, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 2.25% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 2.88% |
| FOND DU LAC, WI (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 2.94% |
| Winona, MN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 3.56% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 3.13% |
| RACINE, WI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 2.75% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 4.13% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.25% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.25% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 2.88% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.50% |
| Platteville, WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.25% |
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 | 4,271 | $885,715,000 | $207,379 | $88 | 2.84% |
| HELOC | 1,846 | $143,380,000 | $77,671 | n/a | 4.26% |
For 2021, Royal Credit Union's most frequently originated type of loan was Conventional, with 4,271 originations. Their 2nd most popular type was HELOC, with 1,846 originations.
Loan Reason
For 2021, Royal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,502 originations. The 2nd most popular reason was Other, with 1,323 originations.
Loan Duration/Length
For 2021, Royal Credit Union's most frequently cited loan duration was 30 Year, with 4,142 originations. The 2nd most popular length was 15 Year, with 1,018 originations.
Origination Fees/Closing Costs
Royal Credit Union's average total fees were $115, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,070 originations.
Interest Rates
During 2021, Royal Credit Union's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,596 originations.
Loan Sizing
2021 saw Royal Credit Union place emphasis on $100k-200k loans with 2,304 originations, totaling $337,860,000 in origination value.
Applicant Income
Royal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,501 originations. The second most popular income band? $100k-150k, with 1,319 originations.
Applicant Debt to Income Ratio
Royal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,706 originations. The next most common DTI ratio? 30-36%, with 1,251 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.43%
Royal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.48%
Royal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,117 | $1,029,095,000 | $168,235 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6,117 | $1,029,095,000 | $168,235 |