Rio Bank Mortgage Rates, Fees & Info
McAllen, TXLEI: 5493007MVCEU8QCNWC60
Tax ID: 74-2331408
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Rio Bank is a smaller bank specializing in Home Purchase and Refi loans. Rio Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mcallen, Brownsville, Laredo, Rio Grande City, and San Antonio among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Rio 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.
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Originations
89Origination Dollar Volume (All Markets)
$20,495,000Top 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) | 53 | $11,135,000 | $210,094 | $0 | 0.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 24 | $5,510,000 | $229,583 | $0 | 0.00% |
| LAREDO, TX (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $0 | 0.00% |
| Rio Grande City-Roma, TX (FHA|USDA|VA) | 4 | $1,430,000 | $357,500 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Zapata, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Raymondville, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 89 | $20,495,000 | $230,281 | $0 | 0.00% |
For 2022, Rio Bank's most frequently originated type of loan was Conventional, with 89 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 73 | $14,275,000 | $195,548 | $0 | 0.00% |
| Refi | 16 | $6,220,000 | $388,750 | $0 | 0.00% |
For 2022, Rio Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 89 | $20,495,000 | $230,281 | $0 | 0.00% |
For 2022, Rio Bank's most frequently cited loan duration was Other, with 89 originations.
Loan Sizing
2022 saw Rio Bank place emphasis on $100k-200k loans with 31 originations, totaling $4,565,000 in origination value.
Applicant Income
Rio Bank lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 89 | $20,495,000 | $230,281 | $0 | 0.00% |
Rio Bank lent most frequently to those with DTI ratios of Exempt%, with 89 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.64%
Rio Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination71.91%
Rio Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 89 | $20,495,000 | $230,281 |