Railway Credit Union Mortgage Rates, Fees & Info
Mandan, NDLEI: 549300TSZB60GNONKL22
Tax ID: 45-0240799
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Railway Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Railway Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bismarck, Minot, and Fargo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Railway Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
114Origination Dollar Volume (All Markets)
$11,880,000Top 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 |
|---|---|---|---|---|---|
| BISMARCK, ND (FHA|USDA|VA) | 95 | $10,045,000 | $105,737 | $1,108 | 4.75% |
| Outside of Metro Areas | 16 | $1,680,000 | $105,000 | $0 | 0.00% |
| Minot, ND (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 114 | $11,880,000 | $104,211 | $1,108 | 4.75% |
For 2018, Railway Credit Union's most frequently originated type of loan was Conventional, with 114 originations.
Loan Reason
For 2018, Railway Credit Union's most frequently cited loan purpose was Cash Out Refi, with 47 originations. The 2nd most popular reason was Home Improvement, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 113 | $11,605,000 | $102,699 | $1,108 | 4.75% |
| 15 Year | 1 | $275,000 | $275,000 | $0 | 0.00% |
For 2018, Railway Credit Union's most frequently cited loan duration was Other, with 113 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $25,000 | $25,000 |
Railway Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1 | $55,000 | $55,000 |
During 2018, Railway Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 1 originations.
Loan Sizing
2018 saw Railway Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $3,825,000 in origination value.
Applicant Income
Railway Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $100k-150k, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 111 | $11,595,000 | $104,459 | $1,108 | 4.75% |
| Not applicable | 3 | $285,000 | $95,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Railway Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $55,000 | $55,000 |
| NA | 113 | $11,825,000 | $104,646 |