Rio Grande Mortgage Rates, Fees & Info
Albuquerque, NMLEI: 549300NVA07UVMZS8E14
Tax ID: 85-0116621
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 two markets are Albuquerque and Santa Fe .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.
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Originations
162Origination Dollar Volume (All Markets)
$26,230,000Top 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 |
|---|---|---|---|---|---|
| ALBUQUERQUE, NM (FHA|USDA|VA) | 156 | $24,720,000 | $158,462 | $0 | 0.00% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $505,000 | $168,333 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 162 | $26,230,000 | $161,914 | $0 | 0.00% |
For 2021, Rio Grande's most frequently originated type of loan was Conventional, with 162 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 75 | $11,225,000 | $149,667 | $0 | 0.00% |
| Refi | 63 | $10,285,000 | $163,254 | $0 | 0.00% |
| Home Purchase | 24 | $4,720,000 | $196,667 | $0 | 0.00% |
For 2021, Rio Grande's most frequently cited loan purpose was Cash Out Refi, with 75 originations. The 2nd most popular reason was Refi, with 63 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 162 | $26,230,000 | $161,914 | $0 | 0.00% |
For 2021, Rio Grande's most frequently cited loan duration was Other, with 162 originations.
Loan Sizing
2021 saw Rio Grande place emphasis on $100k-200k loans with 79 originations, totaling $11,465,000 in origination value.
Applicant Income
Rio Grande lent most frequently to those with incomes in the $50k or less range, with 48 originations. The second most popular income band? $50k-75k, with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 162 | $26,230,000 | $161,914 | $0 | 0.00% |
Rio Grande lent most frequently to those with DTI ratios of Exempt%, with 162 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.93%
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 origination66.67%
Rio Grande has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 162 | $26,230,000 | $161,914 |