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 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. (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 about average 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.
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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
564Origination Dollar Volume (All Markets)
$62,460,000Awards
RED RIVER EMPLOYEES - 2021
RED RIVER EMPLOYEES is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 564 | $62,460,000 | $110,745 | $2,422 | 4.45% |
For 2021, Red River Employees's most frequently originated type of loan was Conventional, with 564 originations.
Loan Reason
For 2021, Red River Employees's most frequently cited loan purpose was Home Purchase, with 393 originations. The 2nd most popular reason was Cash Out Refi, with 101 originations.
Loan Duration/Length
For 2021, Red River Employees's most frequently cited loan duration was 15 Year, with 302 originations. The 2nd most popular length was 20 Year, with 202 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | 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 |
Red River Employees's average total fees were $2,368, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 361 originations.
Interest Rates
During 2021, Red River Employees's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 175 originations.
Loan Sizing
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
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
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
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 |
LTV Distribution
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% |