Riverset Credit Union Mortgage Rates, Fees & Info

Pittsburgh, PA

LEI: 254900YN8ERRLHZ0YF62

Tax ID: 25-0732150

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

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Mortgage Data

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

    Riverset Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Riverset Credit Union has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

    Riverset Credit Union has an average approval rate when compared to the average across all lenders. They have an 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.

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    Originations

    14

    Origination Dollar Volume (All Markets)

    $1,040,000

    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
    PITTSBURGH, PA (FHA|USDA|VA) 14 $1,040,000 $74,286 $0 4.04%
    Riverset Credit Union's top markets include and Pittsburgh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 14 $1,040,000 $74,286 $0 4.04%

    For 2021, Riverset Credit Union's most frequently originated type of loan was Conventional, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 9 $725,000 $80,556 $0 4.02%
    Home Improvement 5 $315,000 $63,000 $0 4.08%

    For 2021, Riverset Credit Union's most frequently cited loan purpose was Cash Out Refi, with 9 originations. The 2nd most popular reason was Home Improvement, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 6 $200,000 $33,333 $0 4.54%
    Other 3 $265,000 $88,333 $0 3.97%
    15 Year 2 $240,000 $120,000 $0 3.50%
    20 Year 2 $270,000 $135,000 $0 3.60%
    5 Year 1 $65,000 $65,000 $0 3.25%

    For 2021, Riverset Credit Union's most frequently cited loan duration was 10 Year, with 6 originations. The 2nd most popular length was Other, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 9 $875,000 $97,222
    4-5% 3 $105,000 $35,000
    5-6% 1 $35,000 $35,000
    6-7% 1 $25,000 $25,000

    During 2021, Riverset Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 9 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 9 $415,000 $46,111 $0 4.29%
    $100k-200k 5 $625,000 $125,000 $0 3.59%

    2021 saw Riverset Credit Union place emphasis on $100,000 or less loans with 9 originations, totaling $415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 7 $595,000 $85,000 $0 4.10%
    $50k-75k 4 $250,000 $62,500 $0 4.18%
    $100k-150k 1 $135,000 $135,000 $0 3.55%
    $150k-250k 1 $25,000 $25,000 $0 4.25%
    $50k or less 1 $35,000 $35,000 $0 3.40%

    Riverset Credit Union lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 8 $500,000 $62,500 $0 4.23%
    20-30% 3 $385,000 $128,333 $0 3.63%
    30-36% 2 $120,000 $60,000 $0 3.38%
    43% 1 $35,000 $35,000 $0 5.15%

    Riverset Credit Union lent most frequently to those with DTI ratios of <20%, with 8 originations. The next most common DTI ratio? 20-30%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 8 $620,000 $77,500 $0 3.73%
    Black 6 $420,000 $70,000 $0 4.46%

    Approval Rates

    Total approvals of all applications
    88.24%

    Riverset Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.86%

    Riverset Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 14 $1,040,000 $74,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    14 $1,040,000 $74,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $150,000 $37,500 $0 4.56%
    40-60% 4 $480,000 $120,000 $0 3.54%
    60-80% 3 $295,000 $98,333 $0 3.98%
    Under 20% 3 $115,000 $38,333 $0 4.08%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    River City Mortgage LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    River City Mortgage LLC Conventional home mortgage Closing on a mortgage 1 50.0%