Red River Employees Mortgage Rates, Fees & Info

Texarkana, TX

LEI: 549300EAO0HUFDR48U74

Tax ID: 75-0813510

5 stars - Updated: 3/28/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 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 loans. Red River Employees has a high proportion of conventional loans. Their top markets by origination volume include: Texarkana, Shreveport, Hope, Longview, and Fayetteville among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Red River Employees has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Red River Employees is typically a low 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 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.74% 3/28/24
30 Year Conventional Refi 8.32% 3/28/24
30 Year Cash-out Refi 6.55% 3/28/24
15 Year Conventional Purchase 6.98% 3/28/24
15 Year Conventional Refi 6.69% 3/28/24
15 Year Cash-out Refi 6.69% 3/28/24
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 Employees Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Red River Employees. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

272

Origination Dollar Volume (All Markets)

$37,690,000

Awards

RED RIVER EMPLOYEES 30 Year Conventional Loans gold RED RIVER EMPLOYEES 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Red River Employees's average 30 year fixed mortgage rate was 7.07%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.59%.

Relative Fees (Closing Costs)

Red River Employees's average total fees/closing costs for a 30 year fixed rate mortgage were $3,406.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 161 $20,425,000 $126,863 $3,152 7.36%
Outside of Metro Areas 38 $4,940,000 $130,000 $2,935 7.44%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 19 $3,605,000 $189,737 $3,243 7.86%
Hope, AR (FHA|USDA|VA) 13 $1,235,000 $95,000 $2,995 7.67%
LONGVIEW, TX (FHA|USDA|VA) 5 $965,000 $193,000 $6,422 7.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $965,000 $321,667 $2,550 6.79%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $810,000 $405,000 $5,193 7.44%
Paris, TX (FHA|USDA|VA) 6 $780,000 $130,000 $3,663 6.94%
Mount Pleasant, TX (FHA|USDA|VA) 4 $700,000 $175,000 $3,731 7.50%
Bonham, TX (FHA|USDA|VA) 1 $495,000 $495,000 $1,183 6.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $485,000 $161,667 $4,092 6.71%
Sulphur Springs, TX (FHA|USDA|VA) 2 $380,000 $190,000 $3,964 7.81%
TYLER, TX (FHA|USDA|VA) 1 $275,000 $275,000 $4,312 6.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $270,000 $135,000 $2,662 6.75%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $215,000 $215,000 $2,587 6.38%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,862 6.63%
Jacksonville, TX (FHA|USDA|VA) 1 $205,000 $205,000 $8,291 7.88%
MONROE, LA (FHA|USDA|VA) 2 $160,000 $80,000 $3,437 7.81%
Minden, LA (FHA|USDA|VA) 1 $135,000 $135,000 $2,787 6.63%
Huntsville, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
EL PASO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,997 6.50%
Clarksdale, MS (FHA|USDA|VA) 2 $100,000 $50,000 $2,907 7.81%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $95,000 $95,000 $2,451 6.88%
Magnolia, AR (FHA|USDA|VA) 1 $35,000 $35,000 $2,030 8.75%
Red River Employees's top markets include Texarkana, Shreveport, Hope, Longview, and Fayetteville among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against RED RIVER EMPLOYEES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    State Bank of De Kalb
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 272 $37,690,000 $138,566 $3,184 7.39%

    For 2023, Red River Employees's most frequently originated type of loan was Conventional, with 272 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 168 $24,920,000 $148,333 $3,367 7.21%
    Cash Out Refi 48 $3,650,000 $76,042 $2,516 7.94%
    Other 37 $4,315,000 $116,622 $3,483 7.59%
    Refi 19 $4,805,000 $252,895 $2,446 7.24%

    For 2023, Red River Employees's most frequently cited loan purpose was Home Purchase, with 168 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $20,075,000 $165,909 $3,406 7.07%
    15 Year 106 $10,900,000 $102,830 $2,720 7.78%
    10 Year 30 $5,230,000 $174,333 $3,140 7.11%
    Other 8 $850,000 $106,250 $0 8.13%
    20 Year 7 $635,000 $90,714 $3,474 7.54%

    For 2023, Red River Employees's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 15 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 207 $29,625,000 $143,116

    Red River Employees's average total fees were $3,406, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 207 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 110 $14,910,000 $135,545
    6-7% 100 $16,810,000 $168,100
    Over 8% 50 $3,990,000 $79,800
    5-6% 12 $1,980,000 $165,000

    During 2023, Red River Employees's average interest rate for loans was 7.07%, while their most frequently originated rate bucket for loans was 7-8%, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $7,295,000 $62,350 $2,700 7.85%
    $100k-200k 98 $13,670,000 $139,490 $3,347 7.10%
    $200k-400k 50 $13,030,000 $260,600 $3,702 6.98%
    $400k-600k 6 $2,650,000 $441,667 $4,291 6.60%
    $1MM+ 1 $1,045,000 $1,045,000 $0 8.00%

    2023 saw Red River Employees place emphasis on $100,000 or less loans with 117 originations, totaling $7,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 61 $7,195,000 $117,951 $3,028 7.33%
    $100k-150k 54 $9,380,000 $173,704 $3,347 7.38%
    $50k or less 38 $2,670,000 $70,263 $3,076 7.37%
    $75k-100k 38 $4,620,000 $121,579 $3,236 7.22%
    $150k-250k 34 $6,430,000 $189,118 $3,354 7.32%
    $250k+ 7 $1,595,000 $227,857 $3,179 7.07%

    Red River Employees lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $100k-150k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 58 $8,010,000 $138,103 $3,152 7.44%
    20-30% 56 $6,260,000 $111,786 $3,158 7.16%
    <20% 33 $3,715,000 $112,576 $2,996 7.25%
    37% 13 $2,535,000 $195,000 $3,123 7.05%
    38% 13 $1,845,000 $141,923 $3,274 7.51%
    41% 12 $1,750,000 $145,833 $3,051 6.97%
    42% 10 $1,360,000 $136,000 $3,366 7.80%
    44% 8 $1,970,000 $246,250 $4,379 6.98%
    40% 7 $905,000 $129,286 $3,536 7.63%
    36% 7 $545,000 $77,857 $3,354 8.02%
    43% 6 $1,360,000 $226,667 $2,742 7.44%
    >60% 4 $530,000 $132,500 $2,909 7.47%
    39% 4 $760,000 $190,000 $3,373 6.72%
    47% 2 $470,000 $235,000 $4,136 6.81%
    48% 2 $100,000 $50,000 $2,828 7.31%
    46% 1 $295,000 $295,000 $883 6.38%
    50-60% 1 $45,000 $45,000 $0 8.00%
    45% 1 $145,000 $145,000 $3,301 7.00%

    Red River Employees lent most frequently to those with DTI ratios of 30-36%, with 58 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 170 $23,830,000 $140,176 $3,174 7.32%
    Not applicable 34 $5,090,000 $149,706 $0 7.99%
    Black 31 $3,995,000 $128,871 $3,136 7.40%
    Not provided 30 $3,830,000 $127,667 $3,334 7.20%
    Asian 3 $535,000 $178,333 $2,992 6.54%
    American Indian 4 $410,000 $102,500 $3,032 7.47%

    Approval Rates

    Total approvals of all applications
    88.19%

    Red River Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.18%

    Red River Employees has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 272 $37,690,000 $138,566

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    272 $37,690,000 $138,566

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $3,150,000 $87,500 $2,734 7.77%
    40-60% 28 $3,080,000 $110,000 $3,300 7.46%
    60-80% 60 $8,670,000 $144,500 $3,494 7.59%
    80-100% 134 $22,060,000 $164,627 $3,316 7.05%
    Over 100% 1 $95,000 $95,000 $0 8.00%
    Under 20% 13 $635,000 $48,846 $1,603 8.82%