River Valley Credit Union Mortgage Rates, Fees & Info

Ames, IA

LEI: 549300OQY2Y402FHFI71

Tax ID: 42-6061323

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
  • 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

    River Valley Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. River Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, and Oskaloosa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    River Valley Credit Union has an above average approval rate when compared to the average across all lenders.

    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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    Originations

    105

    Origination Dollar Volume (All Markets)

    $9,915,000

    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
    AMES, IA (FHA|USDA|VA) 84 $7,420,000 $88,333 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 10 $1,380,000 $138,000 $0 0.00%
    Outside of Metro Areas 10 $880,000 $88,000 $0 0.00%
    Oskaloosa, IA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    River Valley Credit Union's top markets include Ames, Des Moines, and Oskaloosa among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $9,915,000 $94,429 $0 0.00%

    For 2019, River Valley Credit Union's most frequently originated type of loan was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 37 $3,485,000 $94,189 $0 0.00%
    Home Purchase 22 $3,330,000 $151,364 $0 0.00%
    Home Improvement 20 $820,000 $41,000 $0 0.00%
    Refi 18 $1,920,000 $106,667 $0 0.00%
    Other 8 $360,000 $45,000 $0 0.00%

    For 2019, River Valley Credit Union's most frequently cited loan purpose was Cash Out Refi, with 37 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 105 $9,915,000 $94,429 $0 0.00%

    For 2019, River Valley Credit Union's most frequently cited loan duration was Other, with 105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $3,255,000 $47,174 $0 0.00%
    $100k-200k 24 $3,420,000 $142,500 $0 0.00%
    $200k-400k 12 $3,240,000 $270,000 $0 0.00%

    2019 saw River Valley Credit Union place emphasis on $100,000 or less loans with 69 originations, totaling $3,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $2,360,000 $90,769 $0 0.00%
    $50k or less 24 $1,480,000 $61,667 $0 0.00%
    $75k-100k 24 $2,280,000 $95,000 $0 0.00%
    $100k-150k 18 $1,780,000 $98,889 $0 0.00%
    $150k-250k 11 $1,915,000 $174,091 $0 0.00%
    $250k+ 2 $100,000 $50,000 $0 0.00%

    River Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 105 $9,915,000 $94,429 $0 0.00%

    River Valley Credit Union lent most frequently to those with DTI ratios of Exempt%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 103 $9,625,000 $93,447 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.20%

    River Valley Credit Union 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 105 $9,915,000 $94,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 105 $9,915,000 $94,429