Red River Bank Mortgage Rates, Fees & Info
Alexandria, LALEI: 5493006QG55R8V712J33
Tax ID: 72-1426574
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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, Shreveport, Baton Rouge, New Orleans, and Lake Charles among others. We have data for 45 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 4/28/24 |
| 30 Year Conventional Refi | 6.44% | 4/28/24 |
| 30 Year Cash-out Refi | 6.65% | 4/28/24 |
| 30 Year FHA Purchase | 7.05% | 4/28/24 |
| 30 Year FHA Refi | 6.72% | 4/28/24 |
| 30 Year VA Purchase | 6.03% | 4/28/24 |
| 30 Year USDA Purchase | 6.34% | 4/28/24 |
| 15 Year Conventional Purchase | 6.29% | 4/28/24 |
| 15 Year Conventional Refi | 6.23% | 4/28/24 |
| 15 Year Cash-out Refi | 6.23% | 4/28/24 |
| 15 Year VA Refi | 5.95% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,077Origination Dollar Volume (All Markets)
$277,485,000Awards
Red River Bank - 2022
Red River Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 426 | $76,770,000 | $180,211 | $3,837 | 4.71% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 223 | $58,275,000 | $261,323 | $4,417 | 4.76% |
| BATON ROUGE, LA (FHA|USDA|VA) | 174 | $48,430,000 | $278,333 | $3,831 | 4.84% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 54 | $32,580,000 | $603,333 | $5,283 | 4.58% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 38 | $10,480,000 | $275,789 | $3,050 | 4.58% |
| Outside of Metro Areas | 51 | $8,365,000 | $164,020 | $3,485 | 4.95% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 7 | $6,905,000 | $986,429 | $7,981 | 4.55% |
| LAFAYETTE, LA (FHA|USDA|VA) | 21 | $4,755,000 | $226,429 | $4,168 | 5.12% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $3,260,000 | $815,000 | $3,190 | 5.59% |
| Natchitoches, LA (FHA|USDA|VA) | 9 | $2,415,000 | $268,333 | $3,265 | 4.93% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $4,883 | 4.28% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $5,828 | 5.25% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $3,457 | 4.44% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $1,605,000 | $1,605,000 | $6,228 | 4.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $1,495,000 | $1,495,000 | $6,021 | 5.63% |
| MONROE, LA (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $4,388 | 5.41% |
| Brevard, NC (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 4.38% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $0 | 4.13% |
| Minden, LA (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $5,823 | 5.23% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $2,511 | 6.17% |
| Heber, UT (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 4.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $2,446 | 4.88% |
| HAMMOND, LA (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $4,338 | 5.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $8,667 | 4.69% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $3,719 | 3.63% |
| Fort Polk South, LA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $3,985 | 5.21% |
| CASPER, WY (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $11,183 | 4.00% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 4.25% |
| Jennings, LA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $3,811 | 5.08% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $2,750 | 4.88% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,574 | 5.38% |
| Opelousas, LA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $5,189 | 5.78% |
| Ruston, LA (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 4.17% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,546 | 6.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $13,285 | 4.63% |
| Athens, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,606 | 4.63% |
| Minot, ND (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,410 | 4.63% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,638 | 3.81% |
| Picayune, MS (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,713 | 4.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,254 | 4.75% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,750 | 5.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,873 | 5.63% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,559 | 5.49% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,642 | 5.75% |
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
For 2022, Red River Bank's most frequently originated type of loan was Conventional, with 868 originations. Their 2nd most popular type was FHA, with 120 originations.
Loan Reason
For 2022, Red River Bank's most frequently cited loan purpose was Home Purchase, with 769 originations. The 2nd most popular reason was Refi, with 172 originations.
Loan Duration/Length
For 2022, Red River Bank's most frequently cited loan duration was 30 Year, with 534 originations. The 2nd most popular length was Other, with 226 originations.
Origination Fees/Closing Costs
Red River Bank's average total fees were $4,778, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 623 originations.
Interest Rates
During 2022, Red River Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 351 originations.
Loan Sizing
2022 saw Red River Bank place emphasis on $100k-200k loans with 352 originations, totaling $50,970,000 in origination value.
Applicant Income
Red River Bank lent most frequently to those with incomes in the $250k+ range, with 184 originations. The second most popular income band? $50k-75k, with 158 originations.
Applicant Debt to Income Ratio
Red River Bank lent most frequently to those with DTI ratios of 20-30%, with 233 originations. The next most common DTI ratio? 30-36%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.99%
Red River Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.81%
Red River Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $55,000 | $55,000 |
| NA | 1,076 | $277,430,000 | $257,835 |