Red River Employees Mortgage Rates, Fees & Info
Texarkana, TXLEI: 549300EAO0HUFDR48U74
Tax ID: 75-0813510
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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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Texarkana, College Station, Paris, Camden, and Dallas among others. We have data for 33 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.74% | 4/28/24 |
| 30 Year Conventional Refi | 8.32% | 4/28/24 |
| 30 Year Cash-out Refi | 6.55% | 4/28/24 |
| 15 Year Conventional Purchase | 6.98% | 4/28/24 |
| 15 Year Conventional Refi | 6.69% | 4/28/24 |
| 15 Year Cash-out Refi | 6.69% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
391Origination Dollar Volume (All Markets)
$62,205,000Top 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 |
|---|---|---|---|---|---|
| TEXARKANA, TX-AR (FHA|USDA|VA) | 225 | $33,895,000 | $150,644 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 3 | $7,665,000 | $2,555,000 | $0 | 0.00% |
| Outside of Metro Areas | 64 | $5,350,000 | $83,594 | $0 | 0.00% |
| Paris, TX (FHA|USDA|VA) | 10 | $3,610,000 | $361,000 | $0 | 0.00% |
| Camden, AR (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $1,685,000 | $240,714 | $0 | 0.00% |
| Hope, AR (FHA|USDA|VA) | 16 | $1,170,000 | $73,125 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $915,000 | $130,714 | $0 | 0.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $0 | 0.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $0 | 0.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 0.00% |
| Sulphur Springs, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 0.00% |
| Mount Pleasant, TX (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 5 | $345,000 | $69,000 | $0 | 0.00% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 6 | $340,000 | $56,667 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 0.00% |
| MONROE, LA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Granbury, TX (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| Arkadelphia, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Magnolia, AR (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Forrest City, AR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
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.
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Product Mix
For 2018, Red River Employees's most frequently originated type of loan was Conventional, with 363 originations. Their 2nd most popular type was FHA, with 13 originations.
Loan Reason
For 2018, Red River Employees's most frequently cited loan purpose was Home Purchase, with 282 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 391 | $62,205,000 | $159,092 | $0 | 0.00% |
For 2018, Red River Employees's most frequently cited loan duration was Other, with 391 originations.
Loan Sizing
2018 saw Red River Employees place emphasis on $100,000 or less loans with 244 originations, totaling $12,610,000 in origination value.
Applicant Income
Red River Employees lent most frequently to those with incomes in the $50k or less range, with 121 originations. The second most popular income band? $50k-75k, with 105 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 391 | $62,205,000 | $159,092 | $0 | 0.00% |
Red River Employees lent most frequently to those with DTI ratios of Exempt%, with 391 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.37%
Red River Employees has a below average approval rate.
Pick Rate
Approvals leading to origination84.91%
Red River Employees has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 391 | $62,205,000 | $159,092 |