Riverfront Mortgage Rates, Fees & Info
Reading, PALEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 1.90% | 11/17/24 |
| 15 Year Conventional Purchase | 5.84% | 11/17/24 |
| 15 Year Conventional Refi | 5.94% | 11/17/24 |
| 15 Year Cash-out Refi | 5.94% | 11/17/24 |
| 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
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Originations
248Origination Dollar Volume (All Markets)
$17,750,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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
2023 saw Riverfront place emphasis on $100,000 or less loans with 197 originations, totaling $9,815,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications75.60%
Riverfront has a below average approval rate.
Pick Rate
Approvals leading to origination98.79%
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 |