Riverfront Mortgage Rates, Fees & Info

Reading, PA

LEI: 549300I8I7EBXHMYYW54

Tax ID: 23-1343878

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Mortgage Data

Review & Overview

Riverfront is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Riverfront has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Lancaster, Allentown, and Pottsville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Riverfront has an average approval rate when compared to the average across all lenders. They have an above 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) 1.90% 3/28/24
15 Year Conventional Purchase 5.84% 3/28/24
15 Year Conventional Refi 5.94% 3/28/24
15 Year Cash-out Refi 5.94% 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.

Riverfront Mortgage Calculator






Your Estimates

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

This is not an official calculator from Riverfront. 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

248

Origination Dollar Volume (All Markets)

$17,750,000

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
READING, PA (FHA|USDA|VA) 206 $14,190,000 $68,883 $240 5.01%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 17 $1,405,000 $82,647 $243 5.16%
LANCASTER, PA (FHA|USDA|VA) 8 $480,000 $60,000 $218 5.47%
Outside of Metro Areas 5 $455,000 $91,000 $135 5.95%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $355,000 $118,333 $393 4.58%
Pottsville, PA (FHA|USDA|VA) 2 $210,000 $105,000 $255 7.25%
LEBANON, PA (FHA|USDA|VA) 2 $170,000 $85,000 $120 4.62%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.49%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $125,000 $125,000 $305 6.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $95,000 $95,000 $205 7.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $75,000 $75,000 $205 5.50%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $35,000 $35,000 $205 7.50%
Riverfront's top markets include Reading, Philadelphia, Lancaster, Allentown, and Pottsville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 163 $10,575,000 $64,877 $238 6.52%
    HELOC 85 $7,175,000 $84,412 n/a 2.33%

    For 2023, Riverfront's most frequently originated type of loan was Conventional, with 163 originations. Their 2nd most popular type was HELOC, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 91 $5,555,000 $61,044 $232 4.84%
    Other 77 $5,105,000 $66,299 $235 4.94%
    Refi 47 $3,885,000 $82,660 $244 5.33%
    Cash Out Refi 24 $1,800,000 $75,000 $258 5.99%
    Home Purchase 9 $1,405,000 $156,111 $210 4.86%

    For 2023, Riverfront's most frequently cited loan purpose was Home Improvement, with 91 originations. The 2nd most popular reason was Other, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 144 $11,720,000 $81,389 $248 4.06%
    10 Year 44 $2,460,000 $55,909 $238 6.06%
    20 Year 29 $2,225,000 $76,724 $256 7.67%
    5 Year 28 $1,170,000 $41,786 $209 5.95%
    Other 3 $175,000 $58,333 $137 6.63%

    For 2023, Riverfront's most frequently cited loan duration was 15 Year, with 144 originations. The 2nd most popular length was 10 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $10,575,000 $64,877

    Riverfront's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 85 $7,175,000 $84,412
    6-7% 56 $3,760,000 $67,143
    5-6% 55 $3,565,000 $64,818
    7-8% 26 $2,020,000 $77,692
    Over 8% 15 $685,000 $45,667
    4-5% 10 $470,000 $47,000

    During 2023, Riverfront's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 85 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 197 $9,815,000 $49,822 $222 5.26%
    $100k-200k 42 $5,540,000 $131,905 $340 4.54%
    $200k-400k 8 $1,990,000 $248,750 $260 3.24%
    $400k-600k 1 $405,000 $405,000 $0 6.00%

    2023 saw Riverfront place emphasis on $100,000 or less loans with 197 originations, totaling $9,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 57 $4,155,000 $72,895 $231 4.72%
    $50k-75k 56 $3,300,000 $58,929 $251 5.14%
    $75k-100k 55 $3,835,000 $69,727 $226 5.16%
    $50k or less 34 $1,470,000 $43,235 $234 5.77%
    $150k-250k 33 $3,385,000 $102,576 $259 4.84%
    $250k+ 13 $1,605,000 $123,462 $214 4.75%

    Riverfront lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $3,830,000 $70,926 $243 5.38%
    30-36% 45 $2,935,000 $65,222 $233 4.56%
    50-60% 26 $2,280,000 $87,692 $230 4.85%
    <20% 20 $1,290,000 $64,500 $241 4.64%
    43% 11 $845,000 $76,818 $239 4.93%
    41% 9 $505,000 $56,111 $228 4.94%
    38% 9 $485,000 $53,889 $207 5.44%
    39% 9 $815,000 $90,556 $226 4.33%
    40% 9 $815,000 $90,556 $278 5.27%
    46% 9 $685,000 $76,111 $246 5.72%
    45% 8 $500,000 $62,500 $245 5.84%
    36% 7 $425,000 $60,714 $205 6.53%
    37% 6 $300,000 $50,000 $221 6.08%
    48% 6 $530,000 $88,333 $315 5.16%
    44% 5 $345,000 $69,000 $231 5.30%
    47% 5 $395,000 $79,000 $205 3.09%
    49% 4 $300,000 $75,000 $210 5.87%
    >60% 3 $95,000 $31,667 $205 6.50%
    42% 3 $375,000 $125,000 $315 4.41%

    Riverfront lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 230 $16,620,000 $72,261 $236 5.08%
    Black 12 $860,000 $71,667 $284 5.46%
    Not provided 5 $205,000 $41,000 $205 4.70%
    Asian 1 $65,000 $65,000 $0 1.99%

    Approval Rates

    Total approvals of all applications
    75.60%

    Riverfront has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    98.79%

    Riverfront 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 248 $17,750,000 $71,573

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    248 $17,750,000 $71,573

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $7,480,000 $81,304 $214 5.14%
    40-60% 20 $3,110,000 $155,500 $313 4.97%
    60-80% 8 $1,640,000 $205,000 $350 5.34%
    80-100% 1 $105,000 $105,000 $355 5.25%
    Under 20% 127 $5,415,000 $42,638 $234 5.03%