Railway Credit Union Mortgage Rates, Fees & Info

Mandan, ND

LEI: 549300TSZB60GNONKL22

Tax ID: 45-0240799

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Railway Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Railway Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bismarck, Fargo, and Minot 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. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    90

    Origination Dollar Volume (All Markets)

    $10,960,000

    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
    BISMARCK, ND (FHA|USDA|VA) 76 $9,160,000 $120,526 $0 0.00%
    Outside of Metro Areas 10 $1,180,000 $118,000 $0 0.00%
    FARGO, ND-MN (FHA|USDA|VA) 2 $330,000 $165,000 $0 0.00%
    Minot, ND (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
    Railway Credit Union's top markets include Bismarck, Fargo, and Minot among others.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $10,960,000 $121,778 $0 0.00%

    For 2020, Railway Credit Union's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 28 $2,980,000 $106,429 $0 0.00%
    Home Purchase 25 $3,095,000 $123,800 $0 0.00%
    Refi 23 $2,835,000 $123,261 $0 0.00%
    Home Improvement 9 $1,475,000 $163,889 $0 0.00%
    Other 5 $575,000 $115,000 $0 0.00%

    For 2020, Railway Credit Union's most frequently cited loan purpose was Cash Out Refi, with 28 originations. The 2nd most popular reason was Home Purchase, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 90 $10,960,000 $121,778 $0 0.00%

    For 2020, Railway Credit Union's most frequently cited loan duration was Other, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,235,000 $47,553 $0 0.00%
    $100k-200k 27 $4,175,000 $154,630 $0 0.00%
    $200k-400k 15 $3,895,000 $259,667 $0 0.00%
    $600k-1MM 1 $655,000 $655,000 $0 0.00%

    2020 saw Railway Credit Union place emphasis on $100,000 or less loans with 47 originations, totaling $2,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $4,500,000 $140,625 $0 0.00%
    $50k-75k 23 $2,485,000 $108,043 $0 0.00%
    $50k or less 17 $1,265,000 $74,412 $0 0.00%
    $75k-100k 12 $1,510,000 $125,833 $0 0.00%
    $150k-250k 6 $1,200,000 $200,000 $0 0.00%

    Railway Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 90 $10,960,000 $121,778 $0 0.00%

    Railway Credit Union lent most frequently to those with DTI ratios of Exempt%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 86 $10,510,000 $122,209 $0 0.00%
    Not provided 4 $450,000 $112,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.66%

    Railway Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.22%

    Railway Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 90 $10,960,000 $121,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 18 $1,270,000 $70,556
    Single Family (1-4 Units):Site-Built 72 $9,690,000 $134,583