Riverland Bank Mortgage Rates, Fees & Info

JORDAN, MN

LEI: 254900H13CLF65B2R547

Tax ID: 20-3618708

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

Jump to:

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.

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.


Originations

36

Origination Dollar Volume (All Markets)

$16,280,000

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) 35 $16,155,000 $461,571 $0 0.00%
Outside of Metro Areas 1 $125,000 $125,000 $0 0.00%
Riverland Bank's top markets include and Minneapolis among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $12,270,000 $383,438 $0 0.00%
    Refi 2 $3,510,000 $1,755,000 $0 0.00%
    Home Improvement 1 $335,000 $335,000 $0 0.00%
    Other 1 $165,000 $165,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 16 $4,300,000 $268,750 $0 0.00%
    $100k-200k 7 $1,065,000 $152,143 $0 0.00%
    $600k-1MM 7 $5,175,000 $739,286 $0 0.00%
    $400k-600k 5 $2,475,000 $495,000 $0 0.00%
    $1MM+ 1 $3,265,000 $3,265,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 28 $11,400,000 $407,143 $0 0.00%
    White 5 $4,215,000 $843,000 $0 0.00%
    Not provided 2 $410,000 $205,000 $0 0.00%
    American Indian 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.00%

    Riverland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.44%

    Riverland Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 36 $16,280,000 $452,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,785,000 $757,000
    Single Family (1-4 Units):Site-Built 31 $12,495,000 $403,065