Royal Bank Mortgage Rates, Fees & Info

Elroy, WI

LEI: 549300YKMWXBZEEA1471

Tax ID: 39-0147700

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Mortgage Data

Review & Overview

Royal Bank is a smaller bank specializing in Home Purchase and Refi loans. Royal Bank has a high proportion of conventional loans. Their top markets by origination volume include: Platteville, Baraboo, Madison, La Crosse, and Wisconsin Rapids among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Royal Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Royal Bank 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.61% 12/16/24
30 Year Conventional Refi 6.34% 12/16/24
30 Year Cash-out Refi 6.66% 12/16/24
15 Year Conventional Purchase 6.24% 12/16/24
15 Year Conventional Refi 6.16% 12/16/24
15 Year Cash-out Refi 6.16% 12/16/24
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 Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Royal Bank. 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

396

Origination Dollar Volume (All Markets)

$60,690,000

Awards

Royal Bank 30 Year Conventional Loans silver Royal Bank 30 Year Conventional Loans gold Royal Bank 30 Year Conventional Loans gold
Show all (3) awards

Top Markets

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    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
    Outside of Metro Areas 277 $41,225,000 $148,827 $1,897 5.23%
    Platteville, WI (FHA|USDA|VA) 52 $7,180,000 $138,077 $2,021 4.71%
    Baraboo, WI (FHA|USDA|VA) 20 $4,700,000 $235,000 $1,855 5.20%
    MADISON, WI (FHA|USDA|VA) 29 $4,415,000 $152,241 $2,115 5.21%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 7 $1,775,000 $253,571 $1,946 4.92%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 4 $550,000 $137,500 $1,424 4.94%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $245,000 $245,000 $2,749 6.75%
    DUBUQUE, IA (FHA|USDA|VA) 2 $220,000 $110,000 $2,188 5.75%
    Menomonie, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,836 5.00%
    Winona, MN (FHA|USDA|VA) 1 $135,000 $135,000 $2,722 5.88%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $55,000 $55,000 $1,772 3.63%
    GREEN BAY, WI (FHA|USDA|VA) 1 $35,000 $35,000 $100 4.00%
    Royal Bank's top markets include Platteville, Baraboo, Madison, La Crosse, and Wisconsin Rapids among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Royal Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Landmark Credit Union
    Similarity Rank: 156
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    Bank of Sun Prairie
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    Similarity Rank: 414
    Starion Bank
    Similarity Rank: 418
    The Park Bank
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    DMB Community Bank
    Similarity Rank: 559

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 396 $60,690,000 $153,258 $1,924 5.15%

    For 2022, Royal Bank's most frequently originated type of loan was Conventional, with 396 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 225 $39,155,000 $174,022 $2,224 5.38%
    Refi 104 $13,240,000 $127,308 $1,321 5.12%
    Cash Out Refi 39 $5,905,000 $151,410 $2,250 3.99%
    Other 15 $1,425,000 $95,000 $1,800 4.73%
    Home Improvement 13 $965,000 $74,231 $835 5.40%

    For 2022, Royal Bank's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 143 $17,975,000 $125,699 $1,257 5.49%
    30 Year 133 $25,205,000 $189,511 $2,538 4.90%
    5 Year 52 $8,560,000 $164,615 $658 5.71%
    15 Year 37 $5,055,000 $136,622 $2,087 3.79%
    3 Year 15 $1,765,000 $117,667 $0 5.78%
    20 Year 9 $1,515,000 $168,333 $2,783 4.39%
    1 Year 5 $515,000 $103,000 $0 5.90%
    10 Year 2 $100,000 $50,000 $335 4.88%

    For 2022, Royal Bank's most frequently cited loan duration was Other, with 143 originations. The 2nd most popular length was 30 Year, with 133 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 229 $31,485,000 $137,489
    $1k-2k 44 $8,220,000 $186,818
    $2k-3k 10 $1,900,000 $190,000
    $3k-4k 6 $1,530,000 $255,000
    $5k+ 5 $2,045,000 $409,000
    $4k-5k 4 $1,010,000 $252,500

    Royal Bank's average total fees were $2,538, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 229 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 137 $19,485,000 $142,226
    4-5% 87 $14,065,000 $161,667
    3-4% 70 $14,160,000 $202,286
    6-7% 66 $8,200,000 $124,242
    2.5-3% 19 $2,965,000 $156,053
    7-8% 14 $1,640,000 $117,143
    Over 8% 2 $40,000 $20,000
    <2.5% 1 $135,000 $135,000

    During 2022, Royal Bank's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 5-6%, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 156 $8,680,000 $55,641 $1,431 5.39%
    $100k-200k 136 $19,240,000 $141,471 $2,002 5.08%
    $200k-400k 86 $22,360,000 $260,000 $2,351 4.94%
    $400k-600k 12 $5,760,000 $480,000 $2,530 4.77%
    $600k-1MM 5 $3,465,000 $693,000 $5,031 4.20%
    $1MM+ 1 $1,185,000 $1,185,000 $0 4.95%

    2022 saw Royal Bank place emphasis on $100,000 or less loans with 156 originations, totaling $8,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 98 $8,270,000 $84,388 $1,703 5.33%
    $50k-75k 90 $11,450,000 $127,222 $2,001 5.04%
    $100k-150k 62 $11,640,000 $187,742 $2,084 5.22%
    $75k-100k 60 $9,750,000 $162,500 $2,089 4.88%
    $150k-250k 36 $8,650,000 $240,278 $2,138 5.57%
    $250k+ 8 $2,870,000 $358,750 $1,467 4.96%

    Royal Bank lent most frequently to those with incomes in the $50k or less range, with 98 originations. The second most popular income band? $50k-75k, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 87 $12,365,000 $142,126 $1,789 5.32%
    20-30% 72 $9,350,000 $129,861 $1,695 5.18%
    <20% 48 $5,440,000 $113,333 $1,729 4.88%
    40% 17 $2,485,000 $146,176 $2,494 5.32%
    36% 16 $3,180,000 $198,750 $2,320 5.42%
    38% 15 $2,205,000 $147,000 $2,345 5.09%
    39% 15 $2,645,000 $176,333 $2,046 4.86%
    43% 11 $1,205,000 $109,545 $1,988 4.91%
    41% 9 $1,685,000 $187,222 $2,800 5.12%
    37% 9 $1,165,000 $129,444 $2,512 5.07%
    45% 9 $1,315,000 $146,111 $1,620 5.24%
    42% 8 $1,260,000 $157,500 $2,521 5.53%
    46% 7 $2,275,000 $325,000 $2,421 5.30%
    44% 6 $1,010,000 $168,333 $1,578 4.83%
    >60% 4 $650,000 $162,500 $672 5.72%
    47% 4 $1,050,000 $262,500 $1,903 4.99%
    49% 4 $1,060,000 $265,000 $3,427 4.03%
    48% 3 $515,000 $171,667 $2,334 6.08%
    50-60% 1 $425,000 $425,000 $0 5.99%

    Royal Bank lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 366 $54,540,000 $149,016 $1,910 5.13%
    Not applicable 29 $6,005,000 $207,069 $0 5.46%
    American Indian 1 $145,000 $145,000 $6,243 4.25%

    Approval Rates

    Total approvals of all applications
    89.63%

    Royal Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.34%

    Royal Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 396 $60,690,000 $153,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    396 $60,690,000 $153,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $3,435,000 $88,077 $1,258 5.15%
    40-60% 55 $8,145,000 $148,091 $1,483 5.09%
    60-80% 174 $28,640,000 $164,598 $2,098 5.07%
    80-100% 102 $19,360,000 $189,804 $2,468 5.27%
    Under 20% 26 $1,110,000 $42,692 $665 5.31%