River Falls State Bank Mortgage Rates, Fees & Info
River Falls, WILEI: 549300RP0N2VARTRFQ77
Tax ID: 39-0792568
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Mortgage Data
Review & Overview
River Falls State Bank is a smaller bank specializing in Home Purchase and Refi loans. River Falls State Bank has a high proportion of conventional loans. Their top two markets are Minneapolis and Menomonie .River Falls State Bank 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.
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Originations
76Origination Dollar Volume (All Markets)
$15,770,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 72 | $15,050,000 | $209,028 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $505,000 | $168,333 | $0 | 0.00% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $15,770,000 | $207,500 | $0 | 0.00% |
For 2018, River Falls State Bank's most frequently originated type of loan was Conventional, with 76 originations.
Loan Reason
For 2018, River Falls State Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 76 | $15,770,000 | $207,500 | $0 | 0.00% |
For 2018, River Falls State Bank's most frequently cited loan duration was Other, with 76 originations.
Loan Sizing
2018 saw River Falls State Bank place emphasis on $200k-400k loans with 28 originations, totaling $7,230,000 in origination value.
Applicant Income
River Falls State Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 76 | $15,770,000 | $207,500 | $0 | 0.00% |
River Falls State Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 64 | $13,800,000 | $215,625 | $0 | 0.00% |
| Not applicable | 12 | $1,970,000 | $164,167 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.65%
River Falls State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.79%
River Falls State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 76 | $15,770,000 | $207,500 |