Red River Employees Mortgage Rates, Fees & Info

Texarkana, TX

LEI: 549300EAO0HUFDR48U74

Tax ID: 75-0813510

3.7 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • 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.

    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 in 2021-- chances are they are still one in 2022.

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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

    564

    Origination Dollar Volume (All Markets)

    $62,460,000

    Awards

    RED RIVER EMPLOYEES 30 Year Conventional Loans gold
    Show all (1) awards

    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 applications
    90.21%

    Red River Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    48.05%

    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%