Rio Grande Mortgage Rates, Fees & Info
Albuquerque, NMLEI: 549300NVA07UVMZS8E14
Tax ID: 85-0116621
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Mortgage Data
Review & Overview
Rio Grande is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Rio Grande has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, and Española among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Rio Grande has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Rio Grande 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.
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Originations
173Origination Dollar Volume (All Markets)
$21,605,000Awards
RIO GRANDE - 2019
RIO GRANDE is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ALBUQUERQUE, NM (FHA|USDA|VA) | 155 | $18,825,000 | $121,452 | $2,230 | 5.60% |
| Outside of Metro Areas | 14 | $2,220,000 | $158,571 | $2,596 | 5.26% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,190 | 7.39% |
| Española, NM (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,489 | 5.24% |
Similar Lenders
We use machine learning to identify the top lenders compared against RIO GRANDE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 60
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 173 | $21,605,000 | $124,884 | $2,260 | 5.60% |
For 2019, Rio Grande's most frequently originated type of loan was Conventional, with 173 originations.
Loan Reason
For 2019, Rio Grande's most frequently cited loan purpose was Cash Out Refi, with 87 originations. The 2nd most popular reason was Refi, with 44 originations.
Loan Duration/Length
For 2019, Rio Grande's most frequently cited loan duration was 30 Year, with 62 originations. The 2nd most popular length was 15 Year, with 46 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 172 | $21,290,000 | $123,779 |
| $3k-4k | 1 | $315,000 | $315,000 |
Rio Grande's average total fees were $2,443, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 172 originations.
Interest Rates
During 2019, Rio Grande's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 60 originations.
Loan Sizing
2019 saw Rio Grande place emphasis on $100k-200k loans with 78 originations, totaling $10,570,000 in origination value.
Applicant Income
Rio Grande lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $50k or less, with 52 originations.
Applicant Debt to Income Ratio
Rio Grande lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 39 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 171 | $21,465,000 | $125,526 | $2,262 | 5.61% |
| Black | 2 | $140,000 | $70,000 | $2,145 | 5.18% |
Approval Rates
Total approvals of all applications88.89%
Rio Grande has an average approval rate.
Pick Rate
Approvals leading to origination93.64%
Rio Grande has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 173 | $21,605,000 | $124,884 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 13 | $1,115,000 | $85,769 |
| Single Family (1-4 Units):Site-Built | 160 | $20,490,000 | $128,063 |