River Bank & Trust Mortgage Rates, Fees & Info
Prattville, ALLEI: 5493006HAFES1LQ18W28
Tax ID: 20-4303726
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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.
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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
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This is not an official calculator from River Bank & Trust. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,610Origination Dollar Volume (All Markets)
$393,140,000River Bank & Trust - 2023
River Bank & Trust is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 24
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Similarity Rank: 273
Similarity Rank: 285
Similarity Rank: 336
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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications95.54%
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 origination90.87%
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 |