Rio Bank Mortgage Rates, Fees & Info

McAllen, TX

LEI: 5493007MVCEU8QCNWC60

Tax ID: 74-2331408

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Rio Bank is a smaller bank specializing in Home Purchase loans. Rio Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mcallen, Brownsville, San Antonio, and Laredo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rio Bank 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.

    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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    Originations

    64

    Origination Dollar Volume (All Markets)

    $34,350,000

    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
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 38 $24,180,000 $636,316 $0 0.00%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 15 $7,255,000 $483,667 $0 0.00%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $1,845,000 $369,000 $0 0.00%
    LAREDO, TX (FHA|USDA|VA) 6 $1,070,000 $178,333 $0 0.00%
    Rio Bank's top markets include Mcallen, Brownsville, San Antonio, and Laredo among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $34,350,000 $536,719 $0 0.00%

    For 2023, Rio Bank's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 43 $28,155,000 $654,767 $0 0.00%
    Refi 17 $5,675,000 $333,824 $0 0.00%
    Home Improvement 4 $520,000 $130,000 $0 0.00%

    For 2023, Rio Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $34,350,000 $536,719 $0 0.00%

    For 2023, Rio Bank's most frequently cited loan duration was Other, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,265,000 $130,600 $0 0.00%
    $200k-400k 19 $5,035,000 $265,000 $0 0.00%
    $100,000 or less 11 $685,000 $62,273 $0 0.00%
    $1MM+ 5 $22,995,000 $4,599,000 $0 0.00%
    $400k-600k 3 $1,385,000 $461,667 $0 0.00%
    $600k-1MM 1 $985,000 $985,000 $0 0.00%

    2023 saw Rio Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 10 $3,230,000 $323,000 $0 0.00%
    $100k-150k 5 $895,000 $179,000 $0 0.00%
    $150k-250k 5 $945,000 $189,000 $0 0.00%
    $50k or less 5 $555,000 $111,000 $0 0.00%
    $50k-75k 4 $680,000 $170,000 $0 0.00%
    $75k-100k 4 $440,000 $110,000 $0 0.00%

    Rio Bank lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 64 $34,350,000 $536,719 $0 0.00%

    Rio Bank lent most frequently to those with DTI ratios of Exempt%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 30 $27,160,000 $905,333 $0 0.00%
    White 34 $7,190,000 $211,471 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.00%

    Rio Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.88%

    Rio Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 64 $34,350,000 $536,719

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    64 $34,350,000 $536,719