River Bank & Trust Mortgage Rates, Fees & Info

Prattville, AL

LEI: 5493006HAFES1LQ18W28

Tax ID: 20-4303726

5 stars - Updated: 12/3/24 - out of 5 stars, based on 40 reviews

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

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Mortgage Data

Review & Overview

River Bank & Trust is a smaller bank specializing in Home Purchase loans. River Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Montgomery, Daphne, Mobile, and Auburn among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)

River Bank & Trust 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. River Bank & Trust is typically an average 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/3/24
30 Year Conventional Purchase 3.75% 12/3/24
30 Year Conventional Refi 6.86% 12/3/24
30 Year Cash-out Refi 7.20% 12/3/24
30 Year FHA Purchase 6.27% 12/3/24
30 Year VA Purchase 6.27% 12/3/24
15 Year Conventional Purchase 6.47% 12/3/24
15 Year Conventional Refi 6.46% 12/3/24
15 Year Cash-out Refi 6.46% 12/3/24
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 Bank & Trust Mortgage Calculator






Your Estimates

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

This is not an official calculator from River Bank & Trust. 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

1,610

Origination Dollar Volume (All Markets)

$393,140,000

Awards

River Bank & Trust 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

River Bank & Trust's average 30 year fixed mortgage rate was 7.03%.

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

This yields a difference of 0.55%.

Relative Fees (Closing Costs)

River Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $4,946.

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
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 179 $56,545,000 $315,894 $3,809 6.64%
MONTGOMERY, AL (FHA|USDA|VA) 273 $49,255,000 $180,421 $4,031 6.65%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 108 $47,050,000 $435,648 $5,328 6.51%
MOBILE, AL (FHA|USDA|VA) 167 $44,055,000 $263,802 $4,293 6.88%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 248 $43,780,000 $176,532 $5,231 7.73%
Alexander City, AL (FHA|USDA|VA) 116 $31,840,000 $274,483 $5,562 6.90%
DOTHAN, AL (FHA|USDA|VA) 85 $18,315,000 $215,471 $4,451 6.65%
DECATUR, AL (FHA|USDA|VA) 83 $16,915,000 $203,795 $4,133 6.16%
HUNTSVILLE, AL (FHA|USDA|VA) 57 $14,465,000 $253,772 $7,004 6.46%
Enterprise, AL (FHA|USDA|VA) 71 $13,095,000 $184,437 $3,669 7.06%
GADSDEN, AL (FHA|USDA|VA) 38 $7,400,000 $194,737 $3,457 6.38%
Outside of Metro Areas 31 $6,865,000 $221,452 $4,352 7.12%
Ozark, AL (FHA|USDA|VA) 21 $5,645,000 $268,810 $4,648 7.29%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 25 $5,365,000 $214,600 $4,192 6.84%
LaGrange, GA-AL (FHA|USDA|VA) 20 $3,560,000 $178,000 $5,694 7.86%
PANAMA CITY, FL (FHA|USDA|VA) 12 $3,490,000 $290,833 $4,263 7.05%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 7 $2,825,000 $403,571 $8,344 7.81%
Cullman, AL (FHA|USDA|VA) 8 $2,800,000 $350,000 $4,585 6.39%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 9 $2,455,000 $272,778 $11,127 6.34%
Sevierville, TN (FHA|USDA|VA) 2 $2,350,000 $1,175,000 $0 4.05%
Albertville, AL (FHA|USDA|VA) 5 $2,235,000 $447,000 $6,063 7.59%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 4 $1,810,000 $452,500 $1,663 8.43%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,290,000 $322,500 $0 5.57%
ASHEVILLE, NC (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $10,964 6.25%
Fort Payne, AL (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $0 6.75%
TUSCALOOSA, AL (FHA|USDA|VA) 7 $985,000 $140,714 $4,775 7.14%
URBAN HONOLULU, HI (FHA|USDA|VA) 2 $950,000 $475,000 $8,137 7.13%
COLUMBUS, GA-AL (FHA|USDA|VA) 5 $845,000 $169,000 $2,877 8.56%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $595,000 $595,000 $8,364 7.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $585,000 $195,000 $5,615 5.91%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $495,000 $495,000 $8,913 6.75%
Talladega-Sylacauga, AL (FHA|USDA|VA) 4 $470,000 $117,500 $0 5.72%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $435,000 $435,000 $7,596 8.13%
Troy, AL (FHA|USDA|VA) 2 $360,000 $180,000 $3,714 7.88%
Shelbyville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $0 5.49%
COLUMBIA, SC (FHA|USDA|VA) 1 $315,000 $315,000 $4,736 6.50%
Jasper, AL (FHA|USDA|VA) 1 $265,000 $265,000 $4,015 6.50%
Moultrie, GA (FHA|USDA|VA) 1 $195,000 $195,000 $4,638 6.38%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.45%
Atmore, AL (FHA|USDA|VA) 1 $135,000 $135,000 $1,473 6.50%
Selma, AL (FHA|USDA|VA) 1 $125,000 $125,000 $510 5.95%
Eufaula, AL-GA (FHA|USDA|VA) 1 $65,000 $65,000 $3,081 6.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.99%
River Bank & Trust's top markets include Birmingham, Montgomery, Daphne, Mobile, and Auburn among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,065 $312,595,000 $293,516 $4,620 7.57%
    HELOC 545 $80,545,000 $147,789 n/a 5.51%

    For 2023, River Bank & Trust's most frequently originated type of loan was Conventional, with 1,065 originations. Their 2nd most popular type was HELOC, with 545 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 900 $289,410,000 $321,567 $4,923 7.51%
    Other 254 $33,700,000 $132,677 $2,652 5.48%
    Refi 242 $40,660,000 $168,017 $2,932 7.00%
    Home Improvement 209 $26,095,000 $124,856 $3,099 5.65%
    Cash Out Refi 5 $3,275,000 $655,000 $6,991 7.02%

    For 2023, River Bank & Trust's most frequently cited loan purpose was Home Purchase, with 900 originations. The 2nd most popular reason was Other, with 254 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 578 $82,680,000 $143,045 $2,955 5.62%
    30 Year 508 $190,670,000 $375,335 $4,946 7.03%
    Other 180 $18,990,000 $105,500 $2,411 8.79%
    5 Year 154 $48,330,000 $313,831 $3,181 7.80%
    1 Year 69 $14,485,000 $209,928 $4,024 8.25%
    30+ year 55 $22,095,000 $401,727 $6,126 6.79%
    3 Year 46 $9,760,000 $212,174 $0 7.94%
    10 Year 17 $3,445,000 $202,647 $1,789 7.71%
    20 Year 3 $2,685,000 $895,000 $3,609 7.18%

    For 2023, River Bank & Trust's most frequently cited loan duration was 15 Year, with 578 originations. The 2nd most popular length was 30 Year, with 508 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 194 $44,570,000 $229,742
    $2k-3k 117 $29,505,000 $252,179
    $1k-2k 108 $18,100,000 $167,593
    $5k+ 103 $77,685,000 $754,223
    $3k-4k 97 $33,215,000 $342,423
    $4k-5k 68 $31,680,000 $465,882

    River Bank & Trust's average total fees were $4,946, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 194 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 365 $76,815,000 $210,452
    7-8% 364 $116,270,000 $319,423
    6-7% 331 $107,515,000 $324,819
    5-6% 307 $51,675,000 $168,322
    4-5% 133 $23,495,000 $176,654
    3-4% 106 $15,470,000 $145,943
    <2.5% 1 $985,000 $985,000

    During 2023, River Bank & Trust's average interest rate for loans was 7.03%, while their most frequently originated rate bucket for loans was Over 8%, with 365 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 574 $31,830,000 $55,453 $1,984 7.07%
    $200k-400k 386 $108,370,000 $280,751 $4,449 6.84%
    $100k-200k 376 $52,830,000 $140,505 $3,013 6.61%
    $400k-600k 165 $78,455,000 $475,485 $5,926 6.89%
    $600k-1MM 78 $57,450,000 $736,538 $7,713 6.83%
    $1MM+ 31 $64,205,000 $2,071,129 $12,514 6.89%

    2023 saw River Bank & Trust place emphasis on $100,000 or less loans with 574 originations, totaling $31,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 336 $85,940,000 $255,774 $5,178 6.75%
    $100k-150k 311 $62,105,000 $199,695 $4,907 6.67%
    $250k+ 262 $122,550,000 $467,748 $6,953 6.47%
    $50k-75k 187 $22,735,000 $121,578 $2,924 7.03%
    $75k-100k 175 $26,695,000 $152,543 $3,515 6.82%
    $50k or less 140 $12,960,000 $92,571 $2,320 7.12%

    River Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 336 originations. The second most popular income band? $100k-150k, with 311 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 354 $74,540,000 $210,565 $4,317 6.58%
    30-36% 322 $69,330,000 $215,311 $4,483 6.75%
    <20% 215 $44,445,000 $206,721 $4,176 6.49%
    42% 78 $17,140,000 $219,744 $4,693 7.07%
    40% 61 $13,965,000 $228,934 $4,980 7.00%
    41% 61 $14,935,000 $244,836 $4,689 6.76%
    37% 58 $14,260,000 $245,862 $4,504 7.22%
    39% 47 $12,205,000 $259,681 $4,966 6.73%
    38% 44 $11,390,000 $258,864 $4,699 6.98%
    43% 35 $7,405,000 $211,571 $4,878 6.70%
    36% 34 $7,910,000 $232,647 $4,530 6.56%
    >60% 31 $12,865,000 $415,000 $5,697 7.24%
    50-60% 30 $11,180,000 $372,667 $6,151 7.23%
    45% 15 $5,965,000 $397,667 $4,757 6.42%
    44% 14 $4,310,000 $307,857 $4,463 7.43%
    47% 8 $5,000,000 $625,000 $8,019 7.26%
    49% 7 $2,225,000 $317,857 $5,366 6.62%
    46% 6 $2,450,000 $408,333 $6,158 6.71%
    48% 4 $2,740,000 $685,000 $10,085 7.29%

    River Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 354 originations. The next most common DTI ratio? 30-36%, with 322 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,284 $299,280,000 $233,084 $4,627 6.75%
    Not applicable 184 $57,500,000 $312,500 $0 7.86%
    Not provided 43 $13,095,000 $304,535 $5,633 6.40%
    Black 61 $10,225,000 $167,623 $3,531 6.89%
    Asian 29 $9,795,000 $337,759 $3,987 6.71%
    Native Hawaiian or Islander 2 $1,330,000 $665,000 $8,177 7.69%
    American Indian 3 $1,145,000 $381,667 $6,235 7.94%
    Other Asian 2 $370,000 $185,000 $4,645 5.31%
    Asian Indian 1 $215,000 $215,000 $4,982 7.50%
    Japanese 1 $185,000 $185,000 $4,651 7.45%

    Approval Rates

    Total approvals of all applications
    95.54%

    River Bank & Trust 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
    90.87%

    River Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    152.5 5 $245,000 $49,000
    225.0 4 $260,000 $65,000
    228.0 81 $3,975,000 $49,074
    240.0 1 $35,000 $35,000
    260.0 8 $510,000 $63,750
    263.0 16 $620,000 $38,750
    NA 1,495 $387,495,000 $259,194

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,610 $393,140,000 $244,186

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 271 $38,115,000 $140,646 $4,031 6.16%
    40-60% 169 $58,815,000 $348,018 $4,227 6.91%
    60-80% 353 $102,495,000 $290,354 $5,142 7.36%
    80-100% 552 $172,650,000 $312,772 $4,729 7.44%
    Over 100% 6 $1,280,000 $213,333 $6,937 6.99%
    Under 20% 258 $19,320,000 $74,884 $1,780 5.71%