Red River Employees Mortgage Rates, Fees & Info
Texarkana, TXLEI: 549300EAO0HUFDR48U74
Tax ID: 75-0813510
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Red River Employees is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Red River Employees has a high proportion of conventional loans. Their top markets by origination volume include: Texarkana, Paris, Mount Pleasant, Shreveport, and Hope among others. We have data for 55 markets. (Some data included below & more in-depth data is available with an active subscription.)Red River Employees 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 Employees is typically a low fee lender. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.02% | 8/6/22 |
| 30 Year Conventional Refi | 6.46% | 8/6/22 |
| 30 Year Cash-out Refi | 6.60% | 8/6/22 |
| 30 Year VA Purchase | 5.30% | 8/6/22 |
| 30 Year VA Refi | 5.30% | 8/6/22 |
| 15 Year Conventional Purchase | 7.03% | 8/6/22 |
| 15 Year Conventional Refi | 6.07% | 8/6/22 |
| 15 Year Cash-out Refi | 6.07% | 8/6/22 |
| 15 Year VA Refi | 4.26% | 8/6/22 |
| 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. | ||
Originations
564Origination Dollar Volume (All Markets)
$62,460,000Awards
RED RIVER EMPLOYEES - 2021
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Relative Rate
Red River Employees's average 30 year fixed rate mortgage of loans were
4.38%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 1.23%.
Relative Fees
Red River Employees's average total fees for a 30 year fixed rate
mortgage are $2,368.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
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 |
|---|---|---|---|---|---|
| TEXARKANA, TX-AR (FHA|USDA|VA) » | 270 | $29,780,000 | $110,296 | $2,330 | 3.98% |
| Outside of Metro Areas | 111 | $12,765,000 | $115,000 | $2,403 | 4.58% |
| Paris, TX (FHA|USDA|VA) » | 26 | $2,510,000 | $96,538 | $2,883 | 4.20% |
| Mount Pleasant, TX (FHA|USDA|VA) » | 1 | $2,485,000 | $2,485,000 | $0 | 3.55% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) » | 18 | $1,870,000 | $103,889 | $2,612 | 3.98% |
| Hope, AR (FHA|USDA|VA) » | 21 | $1,495,000 | $71,190 | $1,995 | 3.76% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) » | 5 | $1,285,000 | $257,000 | $2,884 | 4.43% |
| LONGVIEW, TX (FHA|USDA|VA) » | 11 | $1,105,000 | $100,455 | $3,270 | 4.98% |
| Sulphur Springs, TX (FHA|USDA|VA) » | 5 | $705,000 | $141,000 | $3,239 | 3.33% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) » | 7 | $615,000 | $87,857 | $0 | 7.18% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) » | 6 | $520,000 | $86,667 | $2,156 | 5.73% |
| BATON ROUGE, LA (FHA|USDA|VA) » | 4 | $500,000 | $125,000 | $2,982 | 5.75% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) » | 4 | $500,000 | $125,000 | $5,861 | 6.19% |
| FORT SMITH, AR-OK (FHA|USDA|VA) » | 4 | $470,000 | $117,500 | $2,187 | 4.56% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) » | 4 | $430,000 | $107,500 | $3,708 | 5.97% |
| LAKE CHARLES, LA (FHA|USDA|VA) » | 8 | $420,000 | $52,500 | $0 | 5.53% |
| Bonham, TX (FHA|USDA|VA) » | 1 | $305,000 | $305,000 | $6,829 | 6.63% |
| Lufkin, TX (FHA|USDA|VA) » | 1 | $305,000 | $305,000 | $4,287 | 3.13% |
| Clarksdale, MS (FHA|USDA|VA) » | 8 | $280,000 | $35,000 | $2,057 | 4.52% |
| MONROE, LA (FHA|USDA|VA) » | 3 | $245,000 | $81,667 | $2,732 | 6.17% |
| PANAMA CITY, FL (FHA|USDA|VA) » | 1 | $235,000 | $235,000 | $0 | 4.25% |
| VICTORIA, TX (FHA|USDA|VA) » | 4 | $230,000 | $57,500 | $1,885 | 6.31% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) » | 2 | $190,000 | $95,000 | $2,017 | 4.75% |
| DeRidder, LA (FHA|USDA|VA) » | 2 | $170,000 | $85,000 | $0 | 7.25% |
| Arkadelphia, AR (FHA|USDA|VA) » | 2 | $160,000 | $80,000 | $0 | 6.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $0 | 5.00% |
| Fort Polk South, LA (FHA|USDA|VA) » | 1 | $155,000 | $155,000 | $0 | 5.00% |
| Starkville, MS (FHA|USDA|VA) » | 2 | $150,000 | $75,000 | $0 | 6.00% |
| TYLER, TX (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $0 | 7.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) » | 1 | $145,000 | $145,000 | $0 | 4.75% |
| LAFAYETTE, LA (FHA|USDA|VA) » | 2 | $130,000 | $65,000 | $0 | 6.75% |
| Opelousas, LA (FHA|USDA|VA) » | 2 | $130,000 | $65,000 | $0 | 5.63% |
| Bogalusa, LA (FHA|USDA|VA) » | 1 | $125,000 | $125,000 | $0 | 5.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) » | 1 | $125,000 | $125,000 | $0 | 8.00% |
| Ruston, LA (FHA|USDA|VA) » | 2 | $120,000 | $60,000 | $0 | 6.50% |
| Malvern, AR (FHA|USDA|VA) » | 2 | $120,000 | $60,000 | $0 | 6.50% |
| Athens, TX (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $0 | 5.50% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $0 | 6.50% |
| Columbus, MS (FHA|USDA|VA) » | 1 | $115,000 | $115,000 | $0 | 6.50% |
| ABILENE, TX (FHA|USDA|VA) » | 1 | $105,000 | $105,000 | $0 | 6.50% |
| Brownwood, TX (FHA|USDA|VA) » | 1 | $105,000 | $105,000 | $0 | 8.00% |
| Rockport, TX (FHA|USDA|VA) » | 1 | $85,000 | $85,000 | $0 | 6.50% |
| Natchez, MS-LA (FHA|USDA|VA) » | 1 | $85,000 | $85,000 | $0 | 7.75% |
| MIDLAND, TX (FHA|USDA|VA) » | 1 | $85,000 | $85,000 | $0 | 7.75% |
| ODESSA, TX (FHA|USDA|VA) » | 1 | $65,000 | $65,000 | $0 | 6.50% |
| Laurel, MS (FHA|USDA|VA) » | 1 | $65,000 | $65,000 | $0 | 6.75% |
| Natchitoches, LA (FHA|USDA|VA) » | 1 | $55,000 | $55,000 | $0 | 6.50% |
| Corsicana, TX (FHA|USDA|VA) » | 1 | $55,000 | $55,000 | $0 | 7.00% |
| JONESBORO, AR (FHA|USDA|VA) » | 1 | $55,000 | $55,000 | $0 | 5.50% |
| Sevierville, TN (FHA|USDA|VA) » | 1 | $55,000 | $55,000 | $0 | 4.75% |
| Searcy, AR (FHA|USDA|VA) » | 1 | $55,000 | $55,000 | $0 | 6.00% |
| Harrison, AR (FHA|USDA|VA) » | 1 | $45,000 | $45,000 | $0 | 5.75% |
| SAN ANGELO, TX (FHA|USDA|VA) » | 1 | $45,000 | $45,000 | $0 | 6.50% |
| Russellville, AR (FHA|USDA|VA) » | 1 | $45,000 | $45,000 | $0 | 7.50% |
| HAMMOND, LA (FHA|USDA|VA) » | 1 | $35,000 | $35,000 | $0 | 5.75% |
Red River Employees's top markets include Texarkana, Paris, Mount Pleasant, Shreveport, and Hope among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional » | 564 | $62,460,000 | $110,745 | $2,422 | 4.45% |
For the 2021 period, Red River Employees's most frequently originated loan type of loans were Conventional, with 564 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase » | 393 | $38,465,000 | $97,875 | $2,033 | 4.88% |
| Cash Out Refi » | 101 | $15,235,000 | $150,842 | $3,294 | 3.48% |
| Refi » | 70 | $8,760,000 | $125,143 | $2,789 | 3.46% |
For the 2021, Red River Employees's most frequently cited loan purpose of loans were Home Purchase, with 393 originations. The 2nd most popular reason of loans were Cash Out Refi, with 101 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year » | 302 | $31,770,000 | $105,199 | $2,058 | 4.41% |
| 20 Year » | 202 | $22,400,000 | $110,891 | $3,091 | 4.29% |
| Other » | 33 | $5,735,000 | $173,788 | $0 | 5.85% |
| 30 Year » | 24 | $2,480,000 | $103,333 | $2,368 | 4.38% |
| 10 Year » | 2 | $50,000 | $25,000 | $0 | 4.81% |
| 5 Year » | 1 | $25,000 | $25,000 | $0 | 4.25% |
For the 2021, Red River Employees's most frequently cited loan length of loans were 15 Year, with 302 originations. The 2nd most popular length of loans were 20 Year, with 202 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k » | 361 | $32,775,000 | $90,789 |
| $1k-2k » | 32 | $4,630,000 | $144,688 |
| $2k-3k » | 6 | $990,000 | $165,000 |
| $3k-4k » | 1 | $305,000 | $305,000 |
$2,368 of loans were Red River Employees's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 361 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% » | 175 | $18,215,000 | $104,086 |
| 2.5-3% » | 113 | $15,035,000 | $133,053 |
| 3-4% » | 109 | $17,905,000 | $164,266 |
| 5-6% » | 88 | $4,880,000 | $55,455 |
| 6-7% » | 47 | $3,825,000 | $81,383 |
| 7-8% » | 29 | $2,465,000 | $85,000 |
| Over 8% » | 3 | $135,000 | $45,000 |
During 2021, Red River Employees's average interest rate of loans were 4.38%, while their most frequently originated rate bucket of loans were 4-5%, with 175 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less » | 361 | $19,585,000 | $54,252 | $1,866 | 4.68% |
| $100k-200k » | 153 | $20,685,000 | $135,196 | $3,122 | 4.24% |
| $200k-400k » | 42 | $11,080,000 | $263,810 | $3,970 | 3.38% |
| $1MM+ » | 4 | $8,740,000 | $2,185,000 | $0 | 3.86% |
| $400k-600k » | 2 | $970,000 | $485,000 | $4,033 | 3.06% |
| $600k-1MM » | 2 | $1,400,000 | $700,000 | $0 | 4.25% |
2021 saw Red River Employees place emphasis on $100,000 or less loans with 361 originations, totaling $19,585,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k » | 182 | $14,540,000 | $79,890 | $2,289 | 4.60% |
| $50k or less » | 145 | $8,575,000 | $59,138 | $2,106 | 4.71% |
| $100k-150k » | 87 | $11,365,000 | $130,632 | $2,630 | 3.98% |
| $75k-100k » | 86 | $9,180,000 | $106,744 | $2,617 | 4.47% |
| $150k-250k » | 23 | $4,445,000 | $193,261 | $3,103 | 3.77% |
| $250k+ » | 9 | $1,665,000 | $185,000 | $3,861 | 4.04% |
Red River Employees lent most frequently to those with incomes in the $50k-75k range, with 182 originations. The second most popular income band? $50k or less, with 145 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% » | 142 | $12,660,000 | $89,155 | $2,501 | 4.09% |
| 30-36% » | 120 | $11,060,000 | $92,167 | $2,351 | 4.60% |
| <20% » | 58 | $3,400,000 | $58,621 | $2,074 | 4.47% |
| 40% » | 28 | $2,610,000 | $93,214 | $2,157 | 4.90% |
| 39% » | 28 | $2,720,000 | $97,143 | $2,106 | 4.63% |
| 38% » | 23 | $2,615,000 | $113,696 | $2,645 | 4.36% |
| 37% » | 22 | $1,890,000 | $85,909 | $2,191 | 4.63% |
| 42% » | 21 | $1,885,000 | $89,762 | $2,479 | 5.42% |
| 36% » | 21 | $2,275,000 | $108,333 | $2,310 | 4.32% |
| 41% » | 15 | $1,985,000 | $132,333 | $2,912 | 4.90% |
| 44% » | 11 | $1,065,000 | $96,818 | $2,444 | 5.26% |
| 43% » | 11 | $1,055,000 | $95,909 | $2,364 | 4.97% |
| 45% » | 10 | $1,780,000 | $178,000 | $3,546 | 4.06% |
| 50-60% » | 7 | $1,125,000 | $160,714 | $2,956 | 3.86% |
| 48% » | 6 | $500,000 | $83,333 | $2,206 | 3.88% |
| 47% » | 3 | $665,000 | $221,667 | $4,538 | 3.13% |
| 46% » | 3 | $215,000 | $71,667 | $2,154 | 3.92% |
| >60% » | 2 | $240,000 | $120,000 | $3,175 | 2.88% |
| 49% » | 1 | $25,000 | $25,000 | $902 | 4.50% |
Red River Employees lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White » | 403 | $39,155,000 | $97,159 | $2,424 | 4.48% |
| Not applicable » | 31 | $11,935,000 | $385,000 | $0 | 4.26% |
| Black » | 85 | $7,435,000 | $87,471 | $2,321 | 4.53% |
| Not provided » | 37 | $3,075,000 | $83,108 | $2,526 | 4.23% |
| Asian » | 6 | $750,000 | $125,000 | $2,922 | 4.17% |
| American Indian » | 2 | $110,000 | $55,000 | $3,136 | 3.19% |
Approval Rates
Total approvals of all applications90.21%
Red River Employees has an average approval rate.
Pick Rate
Approvals leading to origination48.05%
Red River Employees has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1018.35 | 1 | $55,000 | $55,000 |
| 1067.86 | 1 | $55,000 | $55,000 |
| 1099.29 | 1 | $55,000 | $55,000 |
| 1148.9 | 1 | $55,000 | $55,000 |
| 1191.76 | 1 | $55,000 | $55,000 |
| 1247.8 | 1 | $65,000 | $65,000 |
| 1332.87 | 1 | $65,000 | $65,000 |
| 1363.51 | 1 | $65,000 | $65,000 |
| 1415.12 | 1 | $35,000 | $35,000 |
| 1486.49 | 1 | $75,000 | $75,000 |
| 1500.0 | 1 | $95,000 | $95,000 |
| 1513.96 | 1 | $75,000 | $75,000 |
| 1529.93 | 1 | $35,000 | $35,000 |
| 1531.11 | 1 | $55,000 | $55,000 |
| 1569.6 | 1 | $75,000 | $75,000 |
| 1587.88 | 1 | $75,000 | $75,000 |
| 1600.0 | 2 | $180,000 | $90,000 |
| 1600.01 | 1 | $85,000 | $85,000 |
| 1669.8 | 1 | $45,000 | $45,000 |
| 1686.59 | 1 | $85,000 | $85,000 |
| 1687.95 | 1 | $85,000 | $85,000 |
| 1718.28 | 1 | $85,000 | $85,000 |
| 1772.52 | 1 | $45,000 | $45,000 |
| 1855.08 | 1 | $95,000 | $95,000 |
| 1904.92 | 1 | $55,000 | $55,000 |
| 1909.16 | 1 | $95,000 | $95,000 |
| 1914.46 | 1 | $95,000 | $95,000 |
| 1948.43 | 1 | $55,000 | $55,000 |
| 1953.64 | 1 | $95,000 | $95,000 |
| 1974.79 | 1 | $95,000 | $95,000 |
| 1975.0 | 1 | $45,000 | $45,000 |
| 1991.97 | 1 | $55,000 | $55,000 |
| 1993.45 | 1 | $55,000 | $55,000 |
| 1997.34 | 1 | $95,000 | $95,000 |
| 2029.18 | 1 | $55,000 | $55,000 |
| 2030.19 | 1 | $65,000 | $65,000 |
| 2078.5 | 1 | $105,000 | $105,000 |
| 2180.01 | 1 | $105,000 | $105,000 |
| 2190.26 | 1 | $105,000 | $105,000 |
| 2218.48 | 1 | $75,000 | $75,000 |
| 2254.71 | 1 | $115,000 | $115,000 |
| 2285.32 | 1 | $75,000 | $75,000 |
| 2310.13 | 1 | $75,000 | $75,000 |
| 2333.34 | 1 | $75,000 | $75,000 |
| 2348.03 | 1 | $55,000 | $55,000 |
| 2351.71 | 1 | $55,000 | $55,000 |
| 2354.08 | 1 | $115,000 | $115,000 |
| 2356.84 | 1 | $115,000 | $115,000 |
| 2375.26 | 1 | $75,000 | $75,000 |
| 2391.16 | 1 | $55,000 | $55,000 |
| 2425.45 | 1 | $125,000 | $125,000 |
| 2501.66 | 1 | $125,000 | $125,000 |
| 2525.61 | 1 | $125,000 | $125,000 |
| 2545.27 | 1 | $75,000 | $75,000 |
| 2615.37 | 1 | $85,000 | $85,000 |
| 2648.48 | 1 | $65,000 | $65,000 |
| 2950.99 | 1 | $105,000 | $105,000 |
| 2957.5 | 1 | $105,000 | $105,000 |
| 2966.96 | 1 | $75,000 | $75,000 |
| 3000.0 | 1 | $75,000 | $75,000 |
| 3034.27 | 1 | $155,000 | $155,000 |
| 3109.2 | 1 | $115,000 | $115,000 |
| 3113.24 | 1 | $115,000 | $115,000 |
| 3187.0 | 1 | $105,000 | $105,000 |
| 3200.0 | 1 | $75,000 | $75,000 |
| 3309.69 | 1 | $115,000 | $115,000 |
| 3326.37 | 1 | $125,000 | $125,000 |
| 3364.43 | 1 | $125,000 | $125,000 |
| 3513.55 | 1 | $125,000 | $125,000 |
| 3611.87 | 1 | $145,000 | $145,000 |
| 3692.33 | 1 | $145,000 | $145,000 |
| 4117.21 | 1 | $155,000 | $155,000 |
| 4948.38 | 1 | $195,000 | $195,000 |
| 512.55 | 1 | $55,000 | $55,000 |
| 799.0 | 25 | $1,875,000 | $75,000 |
| 807.87 | 1 | $45,000 | $45,000 |
| 985.02 | 1 | $45,000 | $45,000 |
| 985.43 | 1 | $45,000 | $45,000 |
| 999.0 | 1 | $75,000 | $75,000 |
| 999.08 | 1 | $35,000 | $35,000 |
| NA | 459 | $53,875,000 | $117,375 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| » | 564 | $62,460,000 | $110,745 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% » | 68 | $3,150,000 | $46,324 | $1,518 | 4.24% |
| 40-60% » | 59 | $6,825,000 | $115,678 | $2,761 | 3.59% |
| 60-80% » | 209 | $32,515,000 | $155,574 | $3,083 | 3.98% |
| 80-100% » | 158 | $18,070,000 | $114,367 | $3,031 | 5.27% |
| Under 20% » | 70 | $1,900,000 | $27,143 | $939 | 4.94% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Rate Rabbit, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
