River Valley Credit Union Mortgage Rates, Fees & Info

MIAMISBURG, OH

LEI: 5493001D5DXR1S70P689

Tax ID: 31-0547898

5 stars - Updated: 11/17/24 - out of 5 stars, based on 10 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    River Valley Credit Union is a smaller credit union specializing in Cash Out Refi loans. River Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Dayton, Cincinnati, Springfield, Wilmington, and Greenville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    River Valley Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. River Valley Credit Union 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 relatively high 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 7.12% 11/17/24
    30 Year Conventional Refi 6.79% 11/17/24
    30 Year Cash-out Refi 7.05% 11/17/24
    15 Year Conventional Purchase 6.12% 11/17/24
    15 Year Conventional Refi 5.71% 11/17/24
    15 Year Cash-out Refi 5.71% 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.

    River Valley Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from River Valley Credit Union. 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

    93

    Origination Dollar Volume (All Markets)

    $7,085,000

    Awards

    RIVER VALLEY CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    River Valley Credit Union's average 30 year fixed mortgage rate was 7.64%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 1.16%.

    Relative Fees (Closing Costs)

    River Valley Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,435.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    DAYTON-KETTERING, OH (FHA|USDA|VA) 65 $5,145,000 $79,154 $1,237 6.70%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 19 $1,485,000 $78,158 $1,107 6.87%
    Outside of Metro Areas 4 $220,000 $55,000 $1,036 5.59%
    SPRINGFIELD, OH (FHA|USDA|VA) 3 $125,000 $41,667 $730 6.96%
    Wilmington, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,492 7.25%
    Greenville, OH (FHA|USDA|VA) 1 $45,000 $45,000 $653 8.75%
    River Valley Credit Union's top markets include Dayton, Cincinnati, Springfield, Wilmington, and Greenville among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against RIVER VALLEY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The North Side Bank & Trust Company
    Similarity Rank: 168
    Minster Bank
    Similarity Rank: 324
    Forcht Bank
    Similarity Rank: 380
    Day Air Credit Union, Inc
    Similarity Rank: 391
    CINFED Federal Credit Union
    Similarity Rank: 483
    Eagle Savings Bank
    Similarity Rank: 484
    The Old Fort Banking Company
    Similarity Rank: 598
    Somerville Bank
    Similarity Rank: 600
    LCNB National Bank
    Similarity Rank: 621
    FCN Bank
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $7,085,000 $76,183 $1,191 6.72%

    For 2023, River Valley Credit Union's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 71 $4,605,000 $64,859 $1,004 6.68%
    Refi 12 $1,120,000 $93,333 $1,608 6.89%
    Home Purchase 9 $1,315,000 $146,111 $2,371 6.67%
    Other 1 $45,000 $45,000 $653 8.75%

    For 2023, River Valley Credit Union's most frequently cited loan purpose was Cash Out Refi, with 71 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 41 $2,835,000 $69,146 $927 6.69%
    10 Year 20 $950,000 $47,500 $807 6.45%
    30 Year 12 $1,920,000 $160,000 $2,435 7.64%
    5 Year 8 $310,000 $38,750 $952 6.48%
    Other 7 $325,000 $46,429 $1,384 6.25%
    20 Year 5 $745,000 $149,000 $3,125 6.95%

    For 2023, River Valley Credit Union's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 10 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 87 $5,935,000 $68,218
    $1k-2k 1 $135,000 $135,000
    $4k-5k 1 $405,000 $405,000

    River Valley Credit Union's average total fees were $2,435, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 39 $2,755,000 $70,641
    7-8% 34 $2,550,000 $75,000
    4-5% 8 $840,000 $105,000
    5-6% 6 $350,000 $58,333
    Over 8% 4 $450,000 $112,500
    3-4% 1 $105,000 $105,000

    During 2023, River Valley Credit Union's average interest rate for loans was 7.64%, while their most frequently originated rate bucket for loans was 6-7%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 75 $3,625,000 $48,333 $940 6.69%
    $100k-200k 13 $1,665,000 $128,077 $1,640 6.86%
    $400k-600k 3 $1,305,000 $435,000 $5,360 6.29%
    $200k-400k 2 $490,000 $245,000 $3,139 7.75%

    2023 saw River Valley Credit Union place emphasis on $100,000 or less loans with 75 originations, totaling $3,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 22 $1,430,000 $65,000 $1,304 6.62%
    $100k-150k 21 $1,645,000 $78,333 $920 6.99%
    $75k-100k 18 $1,060,000 $58,889 $1,060 6.73%
    $150k-250k 15 $1,375,000 $91,667 $1,096 7.03%
    $50k or less 13 $985,000 $75,769 $1,359 6.37%
    $250k+ 4 $590,000 $147,500 $2,233 5.88%

    River Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 41 $2,405,000 $58,659 $990 6.81%
    20-30% 19 $1,005,000 $52,895 $941 6.47%
    30-36% 11 $775,000 $70,455 $1,446 6.52%
    50-60% 3 $325,000 $108,333 $2,006 6.41%
    44% 2 $500,000 $250,000 $515 6.69%
    46% 2 $470,000 $235,000 $2,440 7.38%
    47% 2 $180,000 $90,000 $1,713 6.31%
    >60% 2 $340,000 $170,000 $2,403 6.44%
    36% 2 $70,000 $35,000 $580 6.63%
    37% 2 $270,000 $135,000 $1,185 7.00%
    38% 2 $330,000 $165,000 $2,877 9.00%
    48% 1 $25,000 $25,000 $1,910 7.50%
    43% 1 $105,000 $105,000 $1,160 7.75%
    41% 1 $165,000 $165,000 $1,160 6.50%

    River Valley Credit Union lent most frequently to those with DTI ratios of <20%, with 41 originations. The next most common DTI ratio? 20-30%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 77 $6,045,000 $78,506 $1,138 6.72%
    Black 14 $830,000 $59,286 $1,344 6.53%
    American Indian 1 $105,000 $105,000 $2,065 7.25%
    Asian 1 $105,000 $105,000 $2,213 8.88%

    Approval Rates

    Total approvals of all applications
    84.17%

    River Valley Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.19%

    River Valley Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 93 $7,085,000 $76,183

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    93 $7,085,000 $76,183

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,015,000 $65,000 $900 6.46%
    40-60% 13 $1,505,000 $115,769 $1,993 6.45%
    60-80% 12 $2,090,000 $174,167 $2,397 7.22%
    80-100% 3 $335,000 $111,667 $2,480 7.58%
    Under 20% 33 $1,115,000 $33,788 $677 6.82%