Red River Bank Mortgage Rates, Fees & Info

Alexandria, LA

LEI: 5493006QG55R8V712J33

Tax ID: 72-1426574

5 stars - Updated: 7/11/24 - out of 5 stars, based on 30 reviews

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

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Mortgage Data

Review & Overview

Red River Bank is a smaller bank specializing in Home Purchase loans. Red River Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Alexandria, Baton Rouge, Shreveport, New Orleans, and Lake Charles among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

Red River Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Red River Bank 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
30 Year Conventional Purchase 6.40% 7/11/24
30 Year Conventional Refi 6.44% 7/11/24
30 Year Cash-out Refi 6.65% 7/11/24
30 Year FHA Purchase 7.05% 7/11/24
30 Year FHA Refi 6.72% 7/11/24
30 Year VA Purchase 6.03% 7/11/24
30 Year USDA Purchase 6.34% 7/11/24
15 Year Conventional Purchase 6.29% 7/11/24
15 Year Conventional Refi 6.23% 7/11/24
15 Year Cash-out Refi 6.23% 7/11/24
15 Year VA Refi 5.95% 7/11/24
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.

Red River Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Red River Bank. 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

880

Origination Dollar Volume (All Markets)

$225,980,000
Show all (17) awards

Relative Rate

Red River Bank's average 30 year fixed mortgage rate was 6.33%.

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

This yields a difference of -0.15%.

Relative Fees (Closing Costs)

Red River Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,834.

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
ALEXANDRIA, LA (FHA|USDA|VA) 364 $63,680,000 $174,945 $3,495 6.66%
BATON ROUGE, LA (FHA|USDA|VA) 152 $52,230,000 $343,618 $4,072 6.69%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 149 $36,335,000 $243,859 $4,260 6.73%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 39 $22,195,000 $569,103 $4,462 6.79%
LAKE CHARLES, LA (FHA|USDA|VA) 43 $11,555,000 $268,721 $4,686 6.81%
LAFAYETTE, LA (FHA|USDA|VA) 29 $11,225,000 $387,069 $4,430 6.41%
Outside of Metro Areas 48 $7,490,000 $156,042 $3,691 6.65%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $2,880,000 $480,000 $6,917 6.58%
SANTA FE, NM (FHA|USDA|VA) 1 $1,915,000 $1,915,000 $5,851 5.64%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,680,000 $420,000 $7,239 6.44%
Heber, UT (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $4,441 6.50%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 4 $1,170,000 $292,500 $3,959 7.16%
Natchitoches, LA (FHA|USDA|VA) 5 $945,000 $189,000 $2,649 6.93%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $895,000 $895,000 $5,833 7.13%
PANAMA CITY, FL (FHA|USDA|VA) 2 $840,000 $420,000 $3,475 5.75%
JACKSON, MS (FHA|USDA|VA) 1 $805,000 $805,000 $5,126 5.99%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $795,000 $795,000 $5,838 7.75%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $745,000 $745,000 $0 7.56%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $680,000 $340,000 $4,162 6.31%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $675,000 $675,000 $0 6.99%
HAMMOND, LA (FHA|USDA|VA) 2 $590,000 $295,000 $2,541 6.50%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $565,000 $565,000 $0 7.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $505,000 $505,000 $600 4.63%
Ruston, LA (FHA|USDA|VA) 2 $460,000 $230,000 $6,802 5.88%
Jennings, LA (FHA|USDA|VA) 2 $370,000 $185,000 $3,568 6.69%
Opelousas, LA (FHA|USDA|VA) 1 $365,000 $365,000 $4,339 6.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,043 6.99%
Fort Polk South, LA (FHA|USDA|VA) 3 $345,000 $115,000 $2,877 7.00%
Natchez, MS-LA (FHA|USDA|VA) 2 $340,000 $170,000 $4,141 6.30%
Minden, LA (FHA|USDA|VA) 1 $315,000 $315,000 $7,006 5.38%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.75%
TYLER, TX (FHA|USDA|VA) 1 $225,000 $225,000 $3,014 6.38%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.75%
Laurel, MS (FHA|USDA|VA) 2 $170,000 $85,000 $2,981 7.19%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $155,000 $155,000 $547 6.75%
DeRidder, LA (FHA|USDA|VA) 1 $155,000 $155,000 $2,832 6.63%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $125,000 $125,000 $1,999 6.95%
Oxford, MS (FHA|USDA|VA) 1 $115,000 $115,000 $1,895 7.25%
MONROE, LA (FHA|USDA|VA) 1 $115,000 $115,000 $4,222 7.00%
Red River Bank's top markets include Alexandria, Baton Rouge, Shreveport, New Orleans, and Lake Charles among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Red River Bank 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 692 $185,710,000 $268,367 $3,055 6.83%
    FHA 117 $22,415,000 $191,581 $6,903 6.14%
    VA 45 $13,505,000 $300,111 $4,952 6.13%
    USDA 26 $4,350,000 $167,308 $5,445 6.01%

    For 2023, Red River Bank's most frequently originated type of loan was Conventional, with 692 originations. Their 2nd most popular type was FHA, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 631 $183,865,000 $291,387 $4,546 6.43%
    Refi 141 $30,205,000 $214,220 $2,244 7.38%
    Home Improvement 58 $4,470,000 $77,069 $999 7.58%
    Other 40 $5,800,000 $145,000 $1,858 7.00%
    Cash Out Refi 10 $1,640,000 $164,000 $4,475 6.32%

    For 2023, Red River Bank's most frequently cited loan purpose was Home Purchase, with 631 originations. The 2nd most popular reason was Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 454 $100,660,000 $221,718 $4,834 6.33%
    Other 248 $88,000,000 $354,839 $2,584 6.68%
    5 Year 126 $16,710,000 $132,619 $303 7.72%
    1 Year 22 $2,690,000 $122,273 $3,936 8.14%
    15 Year 21 $10,735,000 $511,190 $3,977 6.40%
    3 Year 5 $5,775,000 $1,155,000 $2,643 7.54%
    10 Year 3 $765,000 $255,000 $3,831 6.58%
    20 Year 1 $645,000 $645,000 $5,212 6.13%

    For 2023, Red River Bank's most frequently cited loan duration was 30 Year, with 454 originations. The 2nd most popular length was Other, with 248 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 534 $134,970,000 $252,753
    $1k-2k 153 $32,535,000 $212,647
    $2k-3k 20 $6,140,000 $307,000
    $5k+ 10 $7,340,000 $734,000
    $3k-4k 7 $1,625,000 $232,143
    $4k-5k 7 $2,125,000 $303,571

    Red River Bank's average total fees were $4,834, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 534 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 382 $97,680,000 $255,707
    7-8% 236 $48,620,000 $206,017
    5-6% 207 $60,445,000 $292,005
    Over 8% 37 $3,605,000 $97,432
    4-5% 8 $5,330,000 $666,250
    3-4% 6 $7,410,000 $1,235,000
    2.5-3% 4 $2,890,000 $722,500

    During 2023, Red River Bank's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 6-7%, with 382 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 268 $40,570,000 $151,381 $3,798 6.57%
    $200k-400k 243 $67,035,000 $275,864 $4,957 6.48%
    $100,000 or less 233 $12,615,000 $54,142 $1,685 7.31%
    $400k-600k 70 $33,610,000 $480,143 $4,854 6.51%
    $600k-1MM 48 $36,130,000 $752,708 $5,339 5.80%
    $1MM+ 18 $36,020,000 $2,001,111 $6,083 5.82%

    2023 saw Red River Bank place emphasis on $100k-200k loans with 268 originations, totaling $40,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 154 $73,240,000 $475,584 $3,754 6.36%
    $100k-150k 136 $28,900,000 $212,500 $4,312 6.67%
    $50k-75k 136 $21,160,000 $155,588 $3,920 6.48%
    $50k or less 123 $11,115,000 $90,366 $3,077 6.55%
    $150k-250k 107 $30,245,000 $282,664 $4,263 6.81%
    $75k-100k 103 $18,855,000 $183,058 $4,432 6.50%

    Red River Bank lent most frequently to those with incomes in the $250k+ range, with 154 originations. The second most popular income band? $100k-150k, with 136 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 184 $46,990,000 $255,380 $3,665 6.58%
    30-36% 144 $36,080,000 $250,556 $3,826 6.50%
    <20% 100 $31,450,000 $314,500 $2,901 6.51%
    50-60% 44 $9,060,000 $205,909 $4,911 6.60%
    40% 29 $6,125,000 $211,207 $4,064 6.36%
    39% 26 $6,580,000 $253,077 $4,466 6.66%
    46% 25 $3,705,000 $148,200 $3,530 6.45%
    43% 22 $4,430,000 $201,364 $4,366 6.65%
    42% 21 $4,685,000 $223,095 $4,231 6.71%
    36% 21 $5,655,000 $269,286 $4,650 6.21%
    49% 21 $4,855,000 $231,190 $3,541 6.53%
    41% 20 $4,370,000 $218,500 $4,714 6.90%
    45% 19 $3,935,000 $207,105 $4,312 6.28%
    38% 19 $4,765,000 $250,789 $4,060 6.25%
    44% 19 $3,215,000 $169,211 $3,935 6.38%
    37% 16 $4,710,000 $294,375 $4,955 6.48%
    48% 13 $2,555,000 $196,538 $6,329 6.70%
    47% 13 $2,455,000 $188,846 $4,851 6.42%
    >60% 3 $265,000 $88,333 $3,069 7.58%

    Red River Bank lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? 30-36%, with 144 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 619 $160,795,000 $259,766 $3,943 6.52%
    Not applicable 103 $36,985,000 $359,078 $3,936 7.64%
    Black 144 $23,080,000 $160,278 $3,779 6.68%
    Asian 9 $3,495,000 $388,333 $3,693 6.40%
    Chinese 1 $505,000 $505,000 $4,503 5.50%
    American Indian 1 $495,000 $495,000 $4,425 5.99%
    Not provided 2 $360,000 $180,000 $2,006 7.50%
    Vietnamese 1 $265,000 $265,000 $3,565 7.75%

    Approval Rates

    Total approvals of all applications
    90.36%

    Red River Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.70%

    Red River Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 880 $225,980,000 $256,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    880 $225,980,000 $256,795

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $12,065,000 $145,361 $1,942 7.20%
    40-60% 87 $22,745,000 $261,437 $2,976 6.82%
    60-80% 182 $67,080,000 $368,571 $3,975 6.62%
    80-100% 411 $114,205,000 $277,871 $4,852 6.36%
    Over 100% 15 $4,595,000 $306,333 $8,961 6.60%
    Under 20% 82 $3,700,000 $45,122 $635 7.56%