Riverland Bank Mortgage Rates, Fees & Info

JORDAN, MN

LEI: 254900H13CLF65B2R547

Tax ID: 20-3618708

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Mortgage Data

Review & Overview

Riverland Bank is a smaller bank specializing in Home Purchase loans. Riverland Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Phoenix, Faribault, and Aberdeen among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Riverland Bank has an above average approval rate when compared to the average across all lenders.

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Originations

50

Origination Dollar Volume (All Markets)

$21,090,000

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 46 $18,280,000 $397,391 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $965,000 $965,000 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Aberdeen, SD (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
Riverland Bank's top markets include Minneapolis, St. Cloud, Phoenix, Faribault, and Aberdeen among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 50 $21,090,000 $421,800 $0 0.00%

    For 2023, Riverland Bank's most frequently originated type of loan was Conventional, with 50 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 35 $13,825,000 $395,000 $0 0.00%
    Home Improvement 8 $3,370,000 $421,250 $0 0.00%
    Refi 6 $3,690,000 $615,000 $0 0.00%
    Other 1 $205,000 $205,000 $0 0.00%

    For 2023, Riverland Bank's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Home Improvement, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 50 $21,090,000 $421,800 $0 0.00%

    For 2023, Riverland Bank's most frequently cited loan duration was Other, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 16 $2,530,000 $158,125 $0 0.00%
    $200k-400k 16 $4,720,000 $295,000 $0 0.00%
    $400k-600k 8 $3,790,000 $473,750 $0 0.00%
    $1MM+ 5 $8,145,000 $1,629,000 $0 0.00%
    $100,000 or less 3 $185,000 $61,667 $0 0.00%
    $600k-1MM 2 $1,720,000 $860,000 $0 0.00%

    2023 saw Riverland Bank place emphasis on $100k-200k loans with 16 originations, totaling $2,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $990,000 $247,500 $0 0.00%
    $50k or less 3 $1,325,000 $441,667 $0 0.00%
    $150k-250k 1 $1,015,000 $1,015,000 $0 0.00%

    Riverland Bank lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $50k or less, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 50 $21,090,000 $421,800 $0 0.00%

    Riverland Bank lent most frequently to those with DTI ratios of Exempt%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 42 $17,760,000 $422,857 $0 0.00%
    Not provided 6 $2,700,000 $450,000 $0 0.00%
    White 2 $630,000 $315,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Riverland 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 50 $21,090,000 $421,800

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    50 $21,090,000 $421,800