Riverland Bank Mortgage Rates, Fees & Info
JORDAN, MNLEI: 254900H13CLF65B2R547
Tax ID: 20-3618708
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Mortgage Data
Review & Overview
Riverland Bank is a smaller bank specializing in Home Purchase and Refi loans. Riverland Bank has a high proportion of conventional loans. Their top (well, only) market is Minneapolis.Riverland 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.
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Originations
36Origination Dollar Volume (All Markets)
$16,280,000Top 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) | 35 | $16,155,000 | $461,571 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 36 | $16,280,000 | $452,222 | $0 | 0.00% |
For 2019, Riverland Bank's most frequently originated type of loan was Conventional, with 36 originations.
Loan Reason
For 2019, Riverland Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 36 | $16,280,000 | $452,222 | $0 | 0.00% |
For 2019, Riverland Bank's most frequently cited loan duration was Other, with 36 originations.
Loan Sizing
2019 saw Riverland Bank place emphasis on $200k-400k loans with 16 originations, totaling $4,300,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 4 | $3,830,000 | $957,500 | $0 | 0.00% |
| $100k-150k | 2 | $510,000 | $255,000 | $0 | 0.00% |
| $75k-100k | 2 | $540,000 | $270,000 | $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? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 36 | $16,280,000 | $452,222 | $0 | 0.00% |
Riverland Bank lent most frequently to those with DTI ratios of Exempt%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.00%
Riverland Bank has an average approval rate.
Pick Rate
Approvals leading to origination94.44%
Riverland Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 36 | $16,280,000 | $452,222 |