Riegel Mortgage Rates, Fees & Info

Milford, NJ

LEI: 549300HOPKX8O1S8MJ63

Tax ID: 22-1689167

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Mortgage Data

Review & Overview

Riegel is a smaller mortgage company specializing in Home Improvement and Refi loans. Riegel has a high proportion of conventional loans. Their top markets by origination volume include: New York, Allentown, Philadelphia, and Atlantic City 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 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
Home Equity Line of Credit (HELOC) 6.27% 10/31/24
15 Year Conventional Refi 5.68% 10/31/24
15 Year Cash-out Refi 5.68% 10/31/24
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.

Riegel Mortgage Calculator






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


Originations

70

Origination Dollar Volume (All Markets)

$7,330,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 37 $3,605,000 $97,432 $551 4.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 24 $2,050,000 $85,417 $562 4.31%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $1,620,000 $202,500 $671 4.28%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $55,000 $55,000 $533 3.85%
Riegel's top markets include New York, Allentown, Philadelphia, and Atlantic City among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $5,875,000 $119,898 $569 4.41%
    HELOC 21 $1,455,000 $69,286 n/a 4.38%

    For 2022, Riegel's most frequently originated type of loan was Conventional, with 49 originations. Their 2nd most popular type was HELOC, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 28 $1,880,000 $67,143 $539 4.43%
    Refi 25 $3,625,000 $145,000 $570 3.77%
    Other 13 $885,000 $68,077 $557 5.57%
    Cash Out Refi 3 $735,000 $245,000 $721 4.33%
    Home Purchase 1 $205,000 $205,000 $533 4.60%

    For 2022, Riegel's most frequently cited loan purpose was Home Improvement, with 28 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 24 $1,830,000 $76,250 $547 4.18%
    Other 22 $1,960,000 $89,091 $558 4.85%
    20 Year 12 $2,970,000 $247,500 $627 3.84%
    10 Year 10 $520,000 $52,000 $542 4.99%
    3 Year 2 $50,000 $25,000 $543 2.74%

    For 2022, Riegel's most frequently cited loan duration was 15 Year, with 24 originations. The 2nd most popular length was Other, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $5,875,000 $119,898

    Riegel's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 37 $5,045,000 $136,351
    5-6% 14 $790,000 $56,429
    4-5% 11 $1,045,000 $95,000
    6-7% 6 $400,000 $66,667
    2.5-3% 2 $50,000 $25,000

    During 2022, Riegel's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,440,000 $53,043 $546 4.63%
    $100k-200k 16 $2,320,000 $145,000 $572 4.07%
    $200k-400k 6 $1,580,000 $263,333 $579 3.76%
    $400k-600k 2 $990,000 $495,000 $869 3.83%

    2022 saw Riegel place emphasis on $100,000 or less loans with 46 originations, totaling $2,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $2,615,000 $113,696 $607 4.46%
    $75k-100k 17 $1,825,000 $107,353 $552 4.14%
    $150k-250k 14 $1,430,000 $102,143 $558 4.71%
    $50k-75k 8 $660,000 $82,500 $550 4.18%
    $50k or less 5 $365,000 $73,000 $553 3.88%
    $250k+ 3 $435,000 $145,000 $577 5.51%

    Riegel lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $75k-100k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $2,270,000 $103,182 $559 4.45%
    30-36% 19 $1,425,000 $75,000 $560 4.44%
    <20% 5 $735,000 $147,000 $566 3.88%
    36% 5 $765,000 $153,000 $558 4.77%
    39% 4 $200,000 $50,000 $539 3.75%
    37% 3 $645,000 $215,000 $733 4.33%
    40% 3 $155,000 $51,667 $537 5.61%
    43% 2 $260,000 $130,000 $576 4.43%
    38% 2 $100,000 $50,000 $0 4.63%
    41% 1 $155,000 $155,000 $533 3.45%
    42% 1 $65,000 $65,000 $533 3.45%
    44% 1 $125,000 $125,000 $618 5.39%

    Riegel lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $6,865,000 $102,463 $569 4.39%
    Not provided 3 $465,000 $155,000 $573 4.70%

    Approval Rates

    Total approvals of all applications
    87.63%

    Riegel has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.57%

    Riegel has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 70 $7,330,000 $104,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $7,330,000 $104,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,665,000 $97,941 $568 4.47%
    40-60% 8 $1,120,000 $140,000 $555 3.56%
    60-80% 9 $2,625,000 $291,667 $637 3.83%
    80-100% 1 $165,000 $165,000 $603 3.42%
    Over 100% 2 $110,000 $55,000 $558 4.73%
    Under 20% 33 $1,645,000 $49,848 $545 4.74%