Railway Credit Union Mortgage Rates, Fees & Info
Mandan, NDLEI: 549300TSZB60GNONKL22
Tax ID: 45-0240799
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Mortgage Data
Review & Overview
Railway Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Railway Credit Union has a high proportion of conventional loans. Railway Credit Union has an average proportion of conventional loans. Their top two markets are Bismarck and Fargo .Railway Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
111Origination Dollar Volume (All Markets)
$12,605,000Top 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) | 85 | $9,225,000 | $108,529 | $0 | 0.00% |
| Outside of Metro Areas | 21 | $2,465,000 | $117,381 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 98 | $11,030,000 | $112,551 | $0 | 0.00% |
| Conventional | 13 | $1,575,000 | $121,154 | $0 | 0.00% |
For 2019, Railway Credit Union's most frequently originated type of loan was Conventional, with 98 originations. Their 2nd most popular type was Conventional, with 13 originations.
Loan Reason
For 2019, Railway Credit Union's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Home Purchase, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 111 | $12,605,000 | $113,559 | $0 | 0.00% |
For 2019, Railway Credit Union's most frequently cited loan duration was Other, with 111 originations.
Loan Sizing
2019 saw Railway Credit Union place emphasis on $100,000 or less loans with 65 originations, totaling $3,205,000 in origination value.
Applicant Income
Railway Credit Union lent most frequently to those with incomes in the $75k-100k range, with 29 originations. The second most popular income band? $100k-150k, with 28 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 98 | $11,030,000 | $112,551 | $0 | 0.00% |
Railway Credit Union lent most frequently to those with DTI ratios of Exempt%, with 98 originations.
Ethnicity Mix
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 |
|---|---|---|---|
| Exempt | 98 | $11,030,000 | $112,551 |
| NA | 13 | $1,575,000 | $121,154 |