The Riddell National Bank Mortgage Rates, Fees & Info

Brazil, IN

LEI: 2549005LG69OCBT9WE71

Tax ID: 35-0613236

5 stars - Updated: 11/3/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

Review & Overview

The Riddell National Bank is a smaller bank specializing in Home Purchase loans. The Riddell National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Terre Haute, Indianapolis, Bloomington, and Bedford among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Riddell National Bank 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. The Riddell National 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.53% 11/3/24
30 Year Conventional Refi 6.46% 11/3/24
30 Year Cash-out Refi 6.59% 11/3/24
15 Year Conventional Purchase 7.00% 11/3/24
15 Year Conventional Refi 6.00% 11/3/24
15 Year Cash-out Refi 6.00% 11/3/24
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.

The Riddell National Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from The Riddell National 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

323

Origination Dollar Volume (All Markets)

$42,245,000

Awards

The Riddell National Bank 30 Year Conventional Loans bronze The Riddell National Bank 30 Year Conventional Loans gold The Riddell National Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

The Riddell National Bank's average 30 year fixed mortgage rate was 6.42%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.06%.

Relative Fees (Closing Costs)

The Riddell National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,586.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
TERRE HAUTE, IN (FHA|USDA|VA) 311 $40,185,000 $129,212 $10,345 7.10%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 7 $1,425,000 $203,571 $2,483 6.61%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $270,000 $135,000 $1,554 8.44%
Outside of Metro Areas 2 $210,000 $105,000 $1,894 8.25%
Bedford, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,849 6.63%
The Riddell National Bank's top markets include Terre Haute, Indianapolis, Bloomington, and Bedford among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    The Riddell National Bank
    Similarity Rank: 20
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    Similarity Rank: 460
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 323 $42,245,000 $130,789 $9,988 7.10%

    For 2023, The Riddell National Bank's most frequently originated type of loan was Conventional, with 323 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 197 $31,715,000 $160,990 $2,476 6.84%
    Other 52 $3,190,000 $61,346 $1,434 7.68%
    Cash Out Refi 52 $5,200,000 $100,000 $50,270 7.15%
    Refi 17 $1,735,000 $102,059 $2,864 7.84%
    Home Improvement 5 $405,000 $81,000 $1,008 8.28%

    For 2023, The Riddell National Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Other, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 133 $19,805,000 $148,910 $2,586 6.42%
    15 Year 69 $3,955,000 $57,319 $1,159 7.74%
    20 Year 49 $4,075,000 $83,163 $178,445 8.35%
    30+ year 46 $12,320,000 $267,826 $2,981 6.41%
    10 Year 16 $830,000 $51,875 $1,232 7.59%
    Other 10 $1,260,000 $126,000 $501 8.10%

    For 2023, The Riddell National Bank's most frequently cited loan duration was 30 Year, with 133 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 177 $31,105,000 $175,734
    $<1k 95 $6,015,000 $63,316

    The Riddell National Bank's average total fees were $2,586, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 177 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 130 $21,490,000 $165,308
    Over 8% 70 $5,510,000 $78,714
    7-8% 63 $5,205,000 $82,619
    5-6% 59 $9,985,000 $169,237
    3-4% 1 $55,000 $55,000

    During 2023, The Riddell National Bank's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 163 $9,205,000 $56,472 $17,463 7.48%
    $100k-200k 98 $13,700,000 $139,796 $2,532 6.83%
    $200k-400k 52 $14,280,000 $274,615 $2,924 6.55%
    $400k-600k 8 $3,810,000 $476,250 $3,243 6.34%
    $600k-1MM 2 $1,250,000 $625,000 $3,785 6.50%

    2023 saw The Riddell National Bank place emphasis on $100,000 or less loans with 163 originations, totaling $9,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 67 $6,645,000 $99,179 $2,256 6.94%
    $100k-150k 62 $9,380,000 $151,290 $2,235 7.04%
    $50k or less 51 $3,425,000 $67,157 $2,025 6.81%
    $75k-100k 51 $5,845,000 $114,608 $46,334 7.09%
    $150k-250k 44 $8,930,000 $202,955 $2,186 7.15%
    $250k+ 11 $3,605,000 $327,727 $3,083 6.58%

    The Riddell National Bank lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $13,545,000 $142,579 $2,160 6.84%
    30-36% 61 $8,945,000 $146,639 $2,178 7.10%
    <20% 50 $5,280,000 $105,600 $2,271 6.74%
    39% 12 $1,530,000 $127,500 $2,329 6.73%
    38% 11 $1,285,000 $116,818 $195,356 7.02%
    40% 11 $2,125,000 $193,182 $2,600 6.67%
    36% 7 $1,125,000 $160,714 $2,435 6.45%
    37% 7 $905,000 $129,286 $2,573 6.57%
    42% 7 $405,000 $57,857 $1,363 7.71%
    43% 6 $420,000 $70,000 $1,508 7.63%
    41% 4 $430,000 $107,500 $1,904 7.66%
    46% 1 $545,000 $545,000 $2,929 6.75%

    The Riddell National Bank lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 285 $37,935,000 $133,105 $10,209 6.99%
    Not applicable 30 $2,910,000 $97,000 $0 8.30%
    Not provided 4 $780,000 $195,000 $2,990 6.50%
    Asian 2 $300,000 $150,000 $2,728 6.38%
    American Indian 1 $285,000 $285,000 $2,703 6.00%
    Black 1 $35,000 $35,000 $1,536 6.50%

    Approval Rates

    Total approvals of all applications
    97.66%

    The Riddell National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.59%

    The Riddell National Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 323 $42,245,000 $130,789

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    323 $42,245,000 $130,789

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $3,270,000 $71,087 $49,595 7.76%
    40-60% 29 $2,705,000 $93,276 $2,242 6.92%
    60-80% 86 $13,430,000 $156,163 $2,669 6.87%
    80-100% 122 $21,200,000 $173,770 $2,734 6.85%
    Under 20% 38 $1,460,000 $38,421 $876 7.70%