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 Refi loans. River Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, Spirit Lake, and Marshalltown among others. We have data for 5 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. They have an above average pick rate when compared to similar 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

    156

    Origination Dollar Volume (All Markets)

    $20,110,000

    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) 124 $14,930,000 $120,403 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 18 $3,410,000 $189,444 $0 0.00%
    Outside of Metro Areas 12 $1,510,000 $125,833 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    River Valley Credit Union's top markets include Ames, Des Moines, Spirit Lake, and Marshalltown among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 156 $20,110,000 $128,910 $0 0.00%

    For 2020, River Valley Credit Union's most frequently originated type of loan was Conventional, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 57 $8,215,000 $144,123 $0 0.00%
    Refi 40 $6,630,000 $165,750 $0 0.00%
    Home Improvement 26 $970,000 $37,308 $0 0.00%
    Home Purchase 22 $3,880,000 $176,364 $0 0.00%
    Other 11 $415,000 $37,727 $0 0.00%

    For 2020, River Valley Credit Union's most frequently cited loan purpose was Cash Out Refi, with 57 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 156 $20,110,000 $128,910 $0 0.00%

    For 2020, River Valley Credit Union's most frequently cited loan duration was Other, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,505,000 $49,366 $0 0.00%
    $100k-200k 49 $7,285,000 $148,673 $0 0.00%
    $200k-400k 36 $9,320,000 $258,889 $0 0.00%

    2020 saw River Valley Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $7,110,000 $161,591 $0 0.00%
    $75k-100k 32 $3,260,000 $101,875 $0 0.00%
    $50k-75k 30 $3,470,000 $115,667 $0 0.00%
    $50k or less 26 $2,630,000 $101,154 $0 0.00%
    $150k-250k 22 $3,250,000 $147,727 $0 0.00%
    $250k+ 2 $390,000 $195,000 $0 0.00%

    River Valley Credit Union lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $75k-100k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 156 $20,110,000 $128,910 $0 0.00%

    River Valley Credit Union lent most frequently to those with DTI ratios of Exempt%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 146 $18,180,000 $124,521 $0 0.00%
    Asian 5 $985,000 $197,000 $0 0.00%
    Not provided 4 $690,000 $172,500 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.61%

    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
    98.08%

    River Valley Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 156 $20,110,000 $128,910

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 156 $20,110,000 $128,910