Riverside Mortgage Rates, Fees & Info

Kenmore, NY

LEI: 549300MX0RKEMMAWWU19

Tax ID: 16-0750181

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Riverside is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Riverside has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Rochester, and Tampa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Riverside has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Riverside 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.33% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    30 Year Cash-out Refi 6.45% 4/28/24
    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.

    Riverside Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Riverside. 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

    36

    Origination Dollar Volume (All Markets)

    $5,900,000

    Awards

    RIVERSIDE 30 Year Conventional Loans silver
    Show all (1) awards

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 33 $5,305,000 $160,758 $3,026 3.14%
    ROCHESTER, NY (FHA|USDA|VA) 1 $395,000 $395,000 $10,552 2.63%
    Outside of Metro Areas 1 $125,000 $125,000 $2,558 3.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,362 2.88%
    Riverside's top markets include Buffalo, Rochester, and Tampa among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against RIVERSIDE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ONTARIO SHORES
    Similarity Rank: 111
    Bank of Akron
    Similarity Rank: 114
    RIVERSIDE
    Similarity Rank: 128
    Moog Employees Federal Credit Union
    Similarity Rank: 192
    THE SUMMIT Federal Credit Union
    Similarity Rank: 224
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 228
    Fairport Savings Bank
    Similarity Rank: 448
    SEFCU SERVICES, LLC
    Similarity Rank: 540
    Genesee Regional Bank
    Similarity Rank: 957
    Five Star Bank
    Similarity Rank: 1026

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 36 $5,900,000 $163,889 $3,203 3.13%

    For 2020, Riverside's most frequently originated type of loan was Conventional, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 21 $3,445,000 $164,048 $3,479 3.11%
    Refi 10 $1,790,000 $179,000 $2,856 2.99%
    Home Purchase 5 $665,000 $133,000 $2,740 3.50%

    For 2020, Riverside's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $2,890,000 $160,556 $3,048 3.33%
    15 Year 10 $1,600,000 $160,000 $3,513 2.85%
    20 Year 3 $465,000 $155,000 $2,339 3.13%
    Other 3 $605,000 $201,667 $3,891 3.25%
    10 Year 2 $340,000 $170,000 $3,310 2.63%

    For 2020, Riverside's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 23 $3,265,000 $141,957
    $2k-3k 3 $465,000 $155,000
    $1k-2k 2 $160,000 $80,000
    $3k-4k 2 $510,000 $255,000
    $4k-5k 1 $345,000 $345,000
    $5k+ 1 $395,000 $395,000

    Riverside's average total fees were $3,048, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 17 $3,265,000 $192,059
    3-4% 17 $2,365,000 $139,118
    <2.5% 1 $185,000 $185,000
    4-5% 1 $85,000 $85,000

    During 2020, Riverside's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 2.5-3%, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,520,000 $140,000 $2,841 3.10%
    $200k-400k 10 $2,760,000 $276,000 $4,209 3.09%
    $100,000 or less 8 $620,000 $77,500 $2,762 3.27%

    2020 saw Riverside place emphasis on $100k-200k loans with 18 originations, totaling $2,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $1,745,000 $193,889 $3,440 2.99%
    $50k or less 9 $1,145,000 $127,222 $2,442 3.38%
    $50k-75k 7 $705,000 $100,714 $2,748 3.25%
    $75k-100k 6 $940,000 $156,667 $2,622 3.02%
    $150k-250k 4 $970,000 $242,500 $4,213 3.00%
    $250k+ 1 $395,000 $395,000 $10,552 2.63%

    Riverside lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $1,145,000 $163,571 $3,167 3.30%
    30-36% 7 $1,115,000 $159,286 $3,676 2.93%
    <20% 3 $415,000 $138,333 $3,019 2.83%
    50-60% 3 $405,000 $135,000 $2,745 3.54%
    41% 2 $540,000 $270,000 $5,258 3.13%
    42% 2 $430,000 $215,000 $3,840 3.06%
    43% 2 $360,000 $180,000 $2,878 2.88%
    45% 2 $220,000 $110,000 $2,768 3.19%
    48% 2 $440,000 $220,000 $2,611 3.19%
    >60% 1 $205,000 $205,000 $2,467 3.75%
    44% 1 $95,000 $95,000 $1,594 3.50%
    38% 1 $185,000 $185,000 $4,251 2.50%
    39% 1 $125,000 $125,000 $2,369 3.00%
    37% 1 $75,000 $75,000 $2,362 2.88%
    36% 1 $145,000 $145,000 $2,369 3.50%

    Riverside lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $4,415,000 $163,519 $3,253 3.16%
    Not provided 4 $650,000 $162,500 $2,822 2.94%
    Black 3 $405,000 $135,000 $3,290 3.33%
    Filipino 1 $325,000 $325,000 $2,685 3.00%
    American Indian 1 $105,000 $105,000 $3,652 2.75%

    Approval Rates

    Total approvals of all applications
    90.20%

    Riverside has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Riverside has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 36 $5,900,000 $163,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 36 $5,900,000 $163,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $200,000 $100,000 $1,785 3.13%
    40-60% 12 $1,690,000 $140,833 $3,523 3.07%
    60-80% 12 $2,190,000 $182,500 $3,355 3.15%
    80-100% 10 $1,820,000 $182,000 $2,920 3.19%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    REVERSE MORTGAGE INVESTMENT TR Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 3 11.5%
    REVERSE MORTGAGE INVESTMENT TR Reverse mortgage Closing on a mortgage 6 23.1%
    REVERSE MORTGAGE INVESTMENT TR Reverse mortgage Struggling to pay mortgage 5 19.2%
    REVERSE MORTGAGE INVESTMENT TR Reverse mortgage Trouble during payment process 12 46.2%