Riverhills Bank Mortgage Rates, Fees & Info

Milford, OH

LEI: 549300QHPJ9CLOLCVE82

Tax ID: 31-0390470

5 stars - Updated: 12/8/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

Riverhills Bank is a smaller bank specializing in Home Purchase loans. Riverhills Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Dayton, Columbus, Cleveland, and Midland among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Riverhills Bank 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. Riverhills Bank 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.76% 12/8/24
30 Year Conventional Refi 6.86% 12/8/24
30 Year Cash-out Refi 7.05% 12/8/24
30 Year FHA Purchase 7.65% 12/8/24
30 Year VA Purchase 6.32% 12/8/24
30 Year USDA Purchase 6.82% 12/8/24
15 Year Conventional Purchase 6.55% 12/8/24
15 Year Conventional Refi 6.07% 12/8/24
15 Year Cash-out Refi 6.07% 12/8/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Riverhills Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Riverhills Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

289

Origination Dollar Volume (All Markets)

$86,635,000

Awards

RiverHills Bank 30 Year Conventional Loans silver RiverHills Bank FHA Loans silver RiverHills Bank 30 Year Conventional Loans bronze RiverHills Bank FHA Loans bronze
Show all (4) awards

Relative Rate

Riverhills Bank's average 30 year fixed mortgage rate was 6.7%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.22%.

Relative Fees (Closing Costs)

Riverhills Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,054.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 256 $65,380,000 $255,391 $4,012 6.68%
DAYTON-KETTERING, OH (FHA|USDA|VA) 6 $5,650,000 $941,667 $4,127 6.80%
COLUMBUS, OH (FHA|USDA|VA) 4 $3,190,000 $797,500 $3,218 6.17%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $2,255,000 $2,255,000 $0 0.00%
MIDLAND, MI (FHA|USDA|VA) 1 $2,125,000 $2,125,000 $0 4.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $1,785,000 $1,785,000 $0 7.25%
Outside of Metro Areas 6 $1,730,000 $288,333 $5,346 6.80%
Wilmington, OH (FHA|USDA|VA) 5 $1,525,000 $305,000 $3,481 6.48%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $825,000 $825,000 $0 4.50%
CANTON-MASSILLON, OH (FHA|USDA|VA) 2 $780,000 $390,000 $2,456 6.19%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $675,000 $675,000 $0 7.25%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $7,182 7.25%
OCALA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,220 7.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.00%
MANSFIELD, OH (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $55,000 $55,000 $2,479 6.75%
Riverhills Bank's top markets include Cincinnati, Dayton, Columbus, Cleveland, and Midland among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 252 $78,280,000 $310,635 $3,551 6.63%
    FHA 26 $5,650,000 $217,308 $7,885 7.00%
    VA 9 $2,345,000 $260,556 $4,536 6.53%
    USDA 2 $360,000 $180,000 $4,752 6.63%

    For 2023, Riverhills Bank's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was FHA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 258 $81,700,000 $316,667 $4,077 6.63%
    Cash Out Refi 21 $3,015,000 $143,571 $4,162 7.12%
    Refi 8 $1,570,000 $196,250 $2,741 6.72%
    Home Improvement 2 $350,000 $175,000 $2,129 5.94%

    For 2023, Riverhills Bank's most frequently cited loan purpose was Home Purchase, with 258 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 271 $63,675,000 $234,963 $4,054 6.70%
    Other 13 $21,625,000 $1,663,462 $0 5.44%
    15 Year 3 $995,000 $331,667 $3,909 6.29%
    10 Year 1 $185,000 $185,000 $2,983 6.88%
    20 Year 1 $155,000 $155,000 $832 5.63%

    For 2023, Riverhills Bank's most frequently cited loan duration was 30 Year, with 271 originations. The 2nd most popular length was Other, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 144 $33,400,000 $231,944
    $1k-2k 57 $12,025,000 $210,965
    $2k-3k 35 $8,275,000 $236,429
    $5k+ 8 $4,060,000 $507,500
    $3k-4k 6 $2,160,000 $360,000
    $4k-5k 5 $1,705,000 $341,000

    Riverhills Bank's average total fees were $4,054, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 160 $41,610,000 $260,063
    7-8% 69 $18,315,000 $265,435
    5-6% 43 $10,575,000 $245,930
    4-5% 7 $4,715,000 $673,571
    Over 8% 5 $885,000 $177,000

    During 2023, Riverhills Bank's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 119 $32,255,000 $271,050 $4,426 6.78%
    $100k-200k 99 $14,935,000 $150,859 $3,416 6.63%
    $100,000 or less 30 $2,250,000 $75,000 $2,798 6.67%
    $400k-600k 21 $10,205,000 $485,952 $4,853 6.33%
    $600k-1MM 12 $8,490,000 $707,500 $6,652 6.56%
    $1MM+ 8 $18,500,000 $2,312,500 $0 6.00%

    2023 saw Riverhills Bank place emphasis on $200k-400k loans with 119 originations, totaling $32,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 77 $12,975,000 $168,506 $3,503 6.59%
    $100k-150k 59 $15,415,000 $261,271 $4,077 6.88%
    $75k-100k 51 $11,495,000 $225,392 $4,762 6.73%
    $150k-250k 35 $10,355,000 $295,857 $4,075 6.78%
    $50k or less 34 $4,130,000 $121,471 $3,068 6.43%
    $250k+ 18 $9,240,000 $513,333 $6,246 6.75%

    Riverhills Bank lent most frequently to those with incomes in the $50k-75k range, with 77 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $13,345,000 $211,825 $3,498 6.59%
    30-36% 50 $12,450,000 $249,000 $3,913 6.54%
    44% 19 $3,915,000 $206,053 $4,957 6.67%
    41% 16 $4,770,000 $298,125 $4,258 6.78%
    <20% 14 $2,210,000 $157,857 $3,143 6.68%
    42% 12 $3,100,000 $258,333 $5,149 6.98%
    36% 12 $2,280,000 $190,000 $3,854 6.86%
    45% 11 $2,335,000 $212,273 $3,844 6.69%
    40% 10 $2,610,000 $261,000 $3,896 6.68%
    38% 9 $2,325,000 $258,333 $4,560 6.65%
    37% 9 $2,165,000 $240,556 $2,682 6.71%
    48% 9 $2,525,000 $280,556 $2,977 6.93%
    49% 9 $1,825,000 $202,778 $4,197 6.58%
    50-60% 8 $2,270,000 $283,750 $6,736 6.73%
    46% 8 $1,560,000 $195,000 $4,052 6.78%
    47% 8 $1,760,000 $220,000 $3,208 7.09%
    43% 5 $2,185,000 $437,000 $8,463 7.30%
    39% 3 $705,000 $235,000 $4,027 6.71%

    Riverhills Bank lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $46,330,000 $231,650 $3,901 6.71%
    Not applicable 10 $14,730,000 $1,473,000 $0 5.64%
    Native Hawaiian or Islander 4 $7,570,000 $1,892,500 $0 0.00%
    Asian 18 $5,790,000 $321,667 $4,309 6.85%
    Black 24 $4,980,000 $207,500 $4,747 6.45%
    Not provided 23 $3,635,000 $158,043 $3,975 6.67%
    Asian Indian 7 $3,125,000 $446,429 $5,908 6.84%
    Filipino 1 $195,000 $195,000 $2,841 7.00%
    Vietnamese 1 $145,000 $145,000 $3,751 5.75%
    American Indian 1 $135,000 $135,000 $2,497 6.25%

    Approval Rates

    Total approvals of all applications
    90.76%

    Riverhills Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    47.75%

    Riverhills Bank 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
    NA 289 $86,635,000 $299,775

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    289 $86,635,000 $299,775

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $5,150,000 $429,167 $2,427 6.62%
    40-60% 18 $8,060,000 $447,778 $3,199 6.52%
    60-80% 90 $21,890,000 $243,222 $3,887 6.74%
    80-100% 160 $44,460,000 $277,875 $4,330 6.66%
    Under 20% 6 $1,170,000 $195,000 $3,000 6.73%