Rio Grande Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 549300NVA07UVMZS8E14

Tax ID: 85-0116621

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Rio Grande is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Rio Grande has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Española, and Las Vegas among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rio Grande 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. 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.

    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.

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    Originations

    196

    Origination Dollar Volume (All Markets)

    $29,630,000

    Awards

    RIO GRANDE 30 Year Conventional Loans gold RIO GRANDE 30 Year Conventional Loans silver
    Show all (2) 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
    ALBUQUERQUE, NM (FHA|USDA|VA) 194 $29,190,000 $150,464 $2,458 3.55%
    Española, NM (FHA|USDA|VA) 1 $225,000 $225,000 $2,941 2.75%
    Las Vegas, NM (FHA|USDA|VA) 1 $215,000 $215,000 $4,015 4.38%
    Rio Grande's top markets include Albuquerque, Española, and Las Vegas among others.

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

    • 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.

    RIO GRANDE
    Similarity Rank: 135
    SANDIA LABORATORY
    Similarity Rank: 168
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 299
    STATE EMPLOYEES
    Similarity Rank: 370
    First Financial Credit Union
    Similarity Rank: 429
    Del Norte Credit Union
    Similarity Rank: 549
    First American Bank
    Similarity Rank: 760
    SANDIA AREA
    Similarity Rank: 1341
    Kirtland Federal Credit Union
    Similarity Rank: 2133
    NUSENDA
    Similarity Rank: 2448

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 196 $29,630,000 $151,173 $2,469 3.55%

    For 2020, Rio Grande's most frequently originated type of loan was Conventional, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 89 $12,965,000 $145,674 $2,611 3.82%
    Refi 85 $12,985,000 $152,765 $2,349 3.32%
    Home Purchase 22 $3,680,000 $167,273 $2,354 3.38%

    For 2020, Rio Grande's most frequently cited loan purpose was Cash Out Refi, with 89 originations. The 2nd most popular reason was Refi, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 105 $17,885,000 $170,333 $2,468 3.25%
    20 Year 42 $5,700,000 $135,714 $2,555 4.32%
    15 Year 40 $5,400,000 $135,000 $2,384 3.10%
    10 Year 8 $540,000 $67,500 $2,396 5.40%
    1 Year 1 $105,000 $105,000 $2,840 6.14%

    For 2020, Rio Grande's most frequently cited loan duration was 30 Year, with 105 originations. The 2nd most popular length was 20 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 191 $28,605,000 $149,764
    $1k-2k 5 $1,025,000 $205,000

    Rio Grande's average total fees were $2,468, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 191 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 69 $11,975,000 $173,551
    2.5-3% 55 $8,165,000 $148,455
    4-5% 29 $4,395,000 $151,552
    <2.5% 26 $3,080,000 $118,462
    5-6% 5 $985,000 $197,000
    7-8% 5 $625,000 $125,000
    6-7% 4 $260,000 $65,000
    Over 8% 3 $145,000 $48,333

    During 2020, Rio Grande's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 117 $16,455,000 $140,641 $2,399 3.35%
    $100,000 or less 43 $3,275,000 $76,163 $2,265 4.08%
    $200k-400k 34 $9,000,000 $264,706 $2,898 3.55%
    $400k-600k 2 $900,000 $450,000 $3,607 4.00%

    2020 saw Rio Grande place emphasis on $100k-200k loans with 117 originations, totaling $16,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 66 $7,860,000 $119,091 $2,314 3.38%
    $50k-75k 51 $7,445,000 $145,980 $2,454 3.51%
    $100k-150k 33 $6,235,000 $188,939 $2,674 3.69%
    $75k-100k 32 $4,970,000 $155,313 $2,559 3.86%
    $150k-250k 12 $2,770,000 $230,833 $2,571 3.57%
    $250k+ 2 $350,000 $175,000 $2,487 3.31%

    Rio Grande lent most frequently to those with incomes in the $50k or less range, with 66 originations. The second most popular income band? $50k-75k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 51 $7,815,000 $153,235 $2,389 3.33%
    30-36% 40 $5,920,000 $148,000 $2,450 3.87%
    <20% 22 $2,720,000 $123,636 $2,409 3.72%
    36% 11 $1,555,000 $141,364 $2,267 3.14%
    37% 10 $1,680,000 $168,000 $2,902 3.55%
    38% 10 $1,470,000 $147,000 $2,504 3.50%
    39% 10 $1,380,000 $138,000 $2,492 3.91%
    42% 8 $1,290,000 $161,250 $2,420 3.42%
    44% 7 $1,175,000 $167,857 $2,764 3.18%
    40% 5 $1,015,000 $203,000 $2,246 2.80%
    41% 4 $470,000 $117,500 $2,408 4.64%
    48% 3 $465,000 $155,000 $2,057 3.00%
    49% 3 $355,000 $118,333 $2,601 3.33%
    45% 3 $575,000 $191,667 $3,029 3.75%
    >60% 2 $610,000 $305,000 $3,369 4.51%
    43% 2 $340,000 $170,000 $2,543 2.50%
    46% 2 $450,000 $225,000 $2,451 4.70%
    47% 2 $200,000 $100,000 $2,436 3.00%
    50-60% 1 $145,000 $145,000 $2,809 4.39%

    Rio Grande lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 187 $28,365,000 $151,684 $2,471 3.57%
    Not provided 4 $630,000 $157,500 $2,593 3.50%
    Asian 2 $360,000 $180,000 $2,029 2.75%
    Black 3 $275,000 $91,667 $2,436 3.21%

    Approval Rates

    Total approvals of all applications
    97.13%

    Rio Grande has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.08%

    Rio Grande has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 196 $29,630,000 $151,173

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $390,000 $97,500
    Single Family (1-4 Units):Site-Built 192 $29,240,000 $152,292

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,520,000 $84,444 $2,305 3.80%
    40-60% 44 $5,880,000 $133,636 $2,422 3.48%
    60-80% 99 $15,945,000 $161,061 $2,494 3.37%
    80-100% 33 $6,235,000 $188,939 $2,590 3.82%
    Under 20% 2 $50,000 $25,000 $1,669 7.72%