Two Rivers Bank & Trust Mortgage Rates, Fees & Info
Burlington, IALEI: 549300TN34NXD7N44O04
Tax ID: 42-0162020
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Mortgage Data
Review & Overview
Two Rivers Bank & Trust is a smaller bank specializing in Home Purchase loans. Two Rivers Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Iowa City, Fort Madison, Des Moines, and Green Bay among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Two Rivers Bank & Trust 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. Two Rivers Bank & Trust 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.
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Originations
271Origination Dollar Volume (All Markets)
$35,445,000Awards
Two Rivers Bank & Trust - 2023
Two Rivers Bank & Trust is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Two Rivers Bank & Trust's average 30 year fixed mortgage rate was
6.74%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.26%.
Relative Fees (Closing Costs)
Two Rivers Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,461.
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 |
|---|---|---|---|---|---|
| Burlington, IA-IL (FHA|USDA|VA) | 150 | $14,430,000 | $96,200 | $842 | 6.88% |
| Outside of Metro Areas | 37 | $6,195,000 | $167,432 | $826 | 6.93% |
| IOWA CITY, IA (FHA|USDA|VA) | 13 | $4,735,000 | $364,231 | $850 | 6.80% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 46 | $3,860,000 | $83,913 | $1,220 | 7.11% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 15 | $3,035,000 | $202,333 | $907 | 6.82% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 7.20% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 7.13% |
| Muscatine, IA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $570 | 5.75% |
| Fairfield, IA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,755 | 6.00% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,320 | 6.88% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.75% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $229 | 7.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against Two Rivers Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 26
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Similarity Rank: 272
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 271 | $35,445,000 | $130,793 | $917 | 6.91% |
For 2023, Two Rivers Bank & Trust's most frequently originated type of loan was Conventional, with 271 originations.
Loan Reason
For 2023, Two Rivers Bank & Trust's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Home Improvement, with 51 originations.
Loan Duration/Length
For 2023, Two Rivers Bank & Trust's most frequently cited loan duration was 30 Year, with 100 originations. The 2nd most popular length was 5 Year, with 78 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 239 | $23,975,000 | $100,314 |
Two Rivers Bank & Trust's average total fees were $1,461, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 239 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 155 | $21,595,000 | $139,323 |
| 7-8% | 81 | $9,535,000 | $117,716 |
| 5-6% | 19 | $3,845,000 | $202,368 |
| Over 8% | 14 | $430,000 | $30,714 |
| 2.5-3% | 2 | $40,000 | $20,000 |
During 2023, Two Rivers Bank & Trust's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 155 originations.
Loan Sizing
2023 saw Two Rivers Bank & Trust place emphasis on $100,000 or less loans with 171 originations, totaling $7,125,000 in origination value.
Applicant Income
Two Rivers Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 60 originations. The second most popular income band? $50k or less, with 59 originations.
Applicant Debt to Income Ratio
Two Rivers Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.71%
Two Rivers Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination83.39%
Two Rivers Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 271 | $35,445,000 | $130,793 |