River Valley Credit Union Mortgage Rates, Fees & Info
Ames, IALEI: 549300OQY2Y402FHFI71
Tax ID: 42-6061323
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
River Valley Credit Union is a smaller credit union specializing in Cash Out Refi loans. River Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, Iowa City, 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.
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Originations
94Origination Dollar Volume (All Markets)
$9,990,000Top 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 |
|---|---|---|---|---|---|
| AMES, IA (FHA|USDA|VA) | 76 | $8,740,000 | $115,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 8 | $650,000 | $81,250 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $550,000 | $68,750 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 94 | $9,990,000 | $106,277 | $0 | 0.00% |
For 2021, River Valley Credit Union's most frequently originated type of loan was Conventional, with 94 originations.
Loan Reason
For 2021, River Valley Credit Union's most frequently cited loan purpose was Cash Out Refi, with 43 originations. The 2nd most popular reason was Home Improvement, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 94 | $9,990,000 | $106,277 | $0 | 0.00% |
For 2021, River Valley Credit Union's most frequently cited loan duration was Other, with 94 originations.
Loan Sizing
2021 saw River Valley Credit Union place emphasis on $100,000 or less loans with 56 originations, totaling $2,820,000 in origination value.
Applicant Income
River Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $75k-100k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 94 | $9,990,000 | $106,277 | $0 | 0.00% |
River Valley Credit Union lent most frequently to those with DTI ratios of Exempt%, with 94 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.01%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 94 | $9,990,000 | $106,277 |