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 Refi, Cash Out Refi, and Home Purchase loans. Riverfront has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Lancaster, Philadelphia, Pottsville, and Los Angeles among others. We have data for 10 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 a below average pick rate when compared to similar lenders. Riverfront 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 |
|---|---|---|
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
79Origination Dollar Volume (All Markets)
$5,415,000Top 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) | 46 | $3,550,000 | $77,174 | $256 | 4.18% |
| Outside of Metro Areas | 14 | $570,000 | $40,714 | $448 | 4.16% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 3.78% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 8 | $350,000 | $43,750 | $159 | 4.38% |
| Pottsville, PA (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $157 | 3.99% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $215 | 5.75% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.99% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $255 | 5.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $445 | 4.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 79 | $5,415,000 | $68,544 | $250 | 4.26% |
For 2018, Riverfront's most frequently originated type of loan was Conventional, with 79 originations.
Loan Reason
For 2018, Riverfront's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Improvement, with 25 originations.
Loan Duration/Length
For 2018, Riverfront's most frequently cited loan duration was Other, with 37 originations. The 2nd most popular length was 15 Year, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 16 | $2,280,000 | $142,500 |
| 4-5% | 14 | $950,000 | $67,857 |
| 5-6% | 6 | $360,000 | $60,000 |
During 2018, Riverfront's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 3-4%, with 16 originations.
Loan Sizing
2018 saw Riverfront place emphasis on $100,000 or less loans with 63 originations, totaling $2,645,000 in origination value.
Applicant Income
Riverfront lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $75k-100k, with 19 originations.
Applicant Debt to Income Ratio
Riverfront lent most frequently to those with DTI ratios of Exempt%, with 23 originations. The next most common DTI ratio? 30-36%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 68 | $5,100,000 | $75,000 | $250 | 4.28% |
| Not provided | 11 | $315,000 | $28,636 | $260 | 3.49% |
Approval Rates
Total approvals of all applications82.73%
Riverfront has a below average approval rate.
Pick Rate
Approvals leading to origination84.81%
Riverfront has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 38 | $3,580,000 | $94,211 |
| NA | 41 | $1,835,000 | $44,756 |