The Riddell National Bank Mortgage Rates, Fees & Info

Brazil, IN

LEI: 2549005LG69OCBT9WE71

Tax ID: 35-0613236

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    The Riddell National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Riddell National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Terre Haute, Indianapolis, Bloomington, Bedford, and Evansville among others. We have data for 6 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 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 6.53% 11/17/24
    30 Year Conventional Refi 6.46% 11/17/24
    30 Year Cash-out Refi 6.59% 11/17/24
    15 Year Conventional Purchase 7.00% 11/17/24
    15 Year Conventional Refi 6.00% 11/17/24
    15 Year Cash-out Refi 6.00% 11/17/24
    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

    354

    Origination Dollar Volume (All Markets)

    $49,550,000

    Awards

    The Riddell National Bank 30 Year Conventional Loans gold The Riddell National Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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) 336 $46,630,000 $138,780 $2,128 5.17%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 9 $1,435,000 $159,444 $2,071 5.22%
    BLOOMINGTON, IN (FHA|USDA|VA) 6 $730,000 $121,667 $2,124 5.10%
    Bedford, IN (FHA|USDA|VA) 1 $355,000 $355,000 $3,358 4.00%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $285,000 $285,000 $3,110 4.25%
    Outside of Metro Areas 1 $115,000 $115,000 $2,858 5.50%
    The Riddell National Bank's top markets include Terre Haute, Indianapolis, Bloomington, Bedford, and Evansville among others.

    Their top states include:
  • Indiana (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: 48
    Mutual Savings Bank
    Similarity Rank: 268
    Independent Federal Credit Union
    Similarity Rank: 318
    Greenfield Banking Company
    Similarity Rank: 476
    Home Bank SB
    Similarity Rank: 700
    CIBM Bank
    Similarity Rank: 768
    Madison County Federal Credit Union
    Similarity Rank: 804
    CRANE
    Similarity Rank: 850
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1053
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1273

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 354 $49,550,000 $139,972 $2,136 5.17%

    For 2022, The Riddell National Bank's most frequently originated type of loan was Conventional, with 354 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 205 $32,655,000 $159,293 $2,334 5.33%
    Cash Out Refi 85 $11,115,000 $130,765 $2,071 4.56%
    Other 32 $2,010,000 $62,813 $1,291 5.19%
    Refi 29 $3,625,000 $125,000 $1,916 5.65%
    Home Improvement 3 $145,000 $48,333 $1,994 6.71%

    For 2022, The Riddell National Bank's most frequently cited loan purpose was Home Purchase, with 205 originations. The 2nd most popular reason was Cash Out Refi, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 153 $25,985,000 $169,837 $2,401 4.95%
    15 Year 74 $5,080,000 $68,649 $1,308 4.97%
    20 Year 69 $5,825,000 $84,420 $2,251 6.10%
    30+ year 42 $12,010,000 $285,952 $3,053 4.89%
    10 Year 16 $650,000 $40,625 $862 4.92%

    For 2022, The Riddell National Bank's most frequently cited loan duration was 30 Year, with 153 originations. The 2nd most popular length was 15 Year, with 74 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 205 $37,325,000 $182,073
    $<1k 94 $7,830,000 $83,298

    The Riddell National Bank's average total fees were $2,401, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 205 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 122 $17,670,000 $144,836
    3-4% 72 $12,390,000 $172,083
    4-5% 69 $10,765,000 $156,014
    6-7% 52 $5,330,000 $102,500
    7-8% 23 $1,755,000 $76,304
    2.5-3% 9 $1,025,000 $113,889
    Over 8% 4 $360,000 $90,000
    <2.5% 3 $255,000 $85,000

    During 2022, The Riddell National Bank's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 171 $9,675,000 $56,579 $1,612 5.42%
    $100k-200k 106 $14,920,000 $140,755 $2,299 5.02%
    $200k-400k 57 $15,285,000 $268,158 $2,698 4.73%
    $400k-600k 19 $9,065,000 $477,105 $3,202 5.07%
    $600k-1MM 1 $605,000 $605,000 $2,943 4.25%

    2022 saw The Riddell National Bank place emphasis on $100,000 or less loans with 171 originations, totaling $9,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 72 $13,400,000 $186,111 $2,274 5.00%
    $50k or less 72 $5,500,000 $76,389 $2,017 5.03%
    $50k-75k 67 $7,155,000 $106,791 $2,111 4.99%
    $75k-100k 50 $7,150,000 $143,000 $2,235 4.97%
    $150k-250k 39 $9,915,000 $254,231 $2,402 5.21%
    $250k+ 14 $3,520,000 $251,429 $2,046 4.86%

    The Riddell National Bank lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $50k or less, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 114 $18,090,000 $158,684 $2,310 4.80%
    <20% 65 $8,765,000 $134,846 $1,948 4.79%
    30-36% 56 $8,360,000 $149,286 $2,243 5.21%
    36% 13 $2,265,000 $174,231 $2,348 5.26%
    37% 12 $2,570,000 $214,167 $2,706 5.29%
    38% 11 $1,645,000 $149,545 $1,655 5.57%
    39% 11 $1,155,000 $105,000 $2,109 4.98%
    40% 9 $1,135,000 $126,111 $1,806 5.38%
    41% 7 $1,265,000 $180,714 $1,902 4.29%
    43% 5 $375,000 $75,000 $1,850 5.60%
    42% 4 $460,000 $115,000 $2,445 5.31%
    46% 2 $180,000 $90,000 $1,206 4.94%
    47% 1 $45,000 $45,000 $0 7.38%
    50-60% 1 $155,000 $155,000 $2,706 5.38%
    >60% 1 $15,000 $15,000 $0 5.75%

    The Riddell National Bank lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? <20%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 314 $46,270,000 $147,357 $2,132 5.03%
    Not applicable 31 $1,885,000 $60,806 $0 6.73%
    Not provided 5 $795,000 $159,000 $1,978 4.93%
    Asian 2 $350,000 $175,000 $2,518 3.69%
    American Indian 2 $250,000 $125,000 $2,729 5.00%

    Approval Rates

    Total approvals of all applications
    95.97%

    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
    99.15%

    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 354 $49,550,000 $139,972

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    354 $49,550,000 $139,972

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $2,520,000 $74,118 $1,533 5.46%
    40-60% 38 $5,100,000 $134,211 $2,308 4.77%
    60-80% 116 $15,480,000 $133,448 $2,397 5.05%
    80-100% 129 $25,105,000 $194,612 $2,585 5.23%
    Under 20% 37 $1,345,000 $36,351 $512 5.45%