Riegel Mortgage Rates, Fees & Info
Milford, NJLEI: 549300HOPKX8O1S8MJ63
Tax ID: 22-1689167
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Mortgage Data
Review & Overview
Riegel is a smaller mortgage company specializing in Home Improvement and Other loans. Riegel has a high proportion of conventional loans. Their top markets by origination volume include: New York, Allentown, Philadelphia, and East Stroudsburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Riegel has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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. | ||
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Originations
67Origination Dollar Volume (All Markets)
$5,525,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 51 | $4,165,000 | $81,667 | $515 | 7.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 10 | $890,000 | $89,000 | $559 | 7.13% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $491 | 7.30% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $3,355,000 | $81,829 | $518 | 6.93% |
| HELOC | 26 | $2,170,000 | $83,462 | n/a | 7.53% |
For 2023, Riegel's most frequently originated type of loan was Conventional, with 41 originations. Their 2nd most popular type was HELOC, with 26 originations.
Loan Reason
For 2023, Riegel's most frequently cited loan purpose was Home Improvement, with 40 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
For 2023, Riegel's most frequently cited loan duration was 15 Year, with 27 originations. The 2nd most popular length was Other, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 40 | $3,330,000 | $83,250 |
Riegel's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 41 | $3,185,000 | $77,683 |
| 6-7% | 23 | $2,115,000 | $91,957 |
| 4-5% | 1 | $155,000 | $155,000 |
| 5-6% | 1 | $15,000 | $15,000 |
| Over 8% | 1 | $55,000 | $55,000 |
During 2023, Riegel's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 41 originations.
Loan Sizing
2023 saw Riegel place emphasis on $100,000 or less loans with 48 originations, totaling $2,270,000 in origination value.
Applicant Income
Riegel lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $100k-150k, with 14 originations.
Applicant Debt to Income Ratio
Riegel lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 63 | $5,335,000 | $84,683 | $518 | 7.15% |
| Not provided | 3 | $115,000 | $38,333 | $510 | 7.11% |
| Asian | 1 | $75,000 | $75,000 | $0 | 7.75% |
Approval Rates
Total approvals of all applications91.36%
Riegel has an average approval rate.
Pick Rate
Approvals leading to origination95.52%
Riegel has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 67 | $5,525,000 | $82,463 |