Two Rivers Bank & Trust Mortgage Rates, Fees & Info

Burlington, IA

LEI: 549300TN34NXD7N44O04

Tax ID: 42-0162020

5 stars - Updated: 4/21/24 - out of 5 stars, based on 16 reviews

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

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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    271

    Origination Dollar Volume (All Markets)

    $35,445,000

    Awards

    Two Rivers Bank & Trust 30 Year Conventional Loans gold Two Rivers Bank & Trust 30 Year Conventional Loans gold Two Rivers Bank & Trust 30 Year Conventional Loans gold Two Rivers Bank & Trust 30 Year Conventional Loans gold
    Show all (4) awards

    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%
    Two Rivers Bank & Trust's top markets include Burlington, Iowa City, Fort Madison, Des Moines, and Green Bay among others.

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

    • 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.

    Bank
    Similarity Rank: 26
    RUHL MORTGAGE, LLC
    Similarity Rank: 45
    FINANCIAL PLUS Credit Union
    Similarity Rank: 60
    Hills Bank and Trust Company
    Similarity Rank: 100
    Two Rivers Bank & Trust
    Similarity Rank: 132
    GREATER IOWA CREDIT UNION
    Similarity Rank: 168
    Raccoon Valley Bank
    Similarity Rank: 175
    United Community Bank
    Similarity Rank: 180
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 272
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 378

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 135 $25,215,000 $186,778 $1,458 6.86%
    Home Improvement 51 $1,305,000 $25,588 $256 6.97%
    Refi 51 $4,385,000 $85,980 $864 6.87%
    Other 32 $1,090,000 $34,063 $291 7.12%
    Cash Out Refi 2 $3,450,000 $1,725,000 $0 6.60%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 100 $15,350,000 $153,500 $1,461 6.74%
    5 Year 78 $9,950,000 $127,564 $243 6.90%
    10 Year 41 $1,475,000 $35,976 $377 7.30%
    Other 19 $3,635,000 $191,316 $268 7.04%
    1 Year 14 $1,650,000 $117,857 $185 7.20%
    20 Year 10 $590,000 $59,000 $1,255 6.51%
    30+ year 6 $2,630,000 $438,333 $2,035 6.44%
    15 Year 2 $160,000 $80,000 $2,141 7.50%
    3 Year 1 $5,000 $5,000 $199 7.25%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 171 $7,125,000 $41,667 $627 6.97%
    $100k-200k 60 $8,390,000 $139,833 $1,440 6.92%
    $200k-400k 31 $8,395,000 $270,806 $1,368 6.63%
    $600k-1MM 4 $2,950,000 $737,500 $2,414 6.41%
    $1MM+ 3 $7,615,000 $2,538,333 $0 6.83%
    $400k-600k 2 $970,000 $485,000 $1,873 6.56%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 60 $5,160,000 $86,000 $958 7.05%
    $50k or less 59 $3,445,000 $58,390 $914 6.91%
    $100k-150k 56 $6,330,000 $113,036 $806 6.85%
    $75k-100k 36 $2,780,000 $77,222 $983 6.95%
    $150k-250k 26 $3,630,000 $139,615 $848 6.61%
    $250k+ 12 $3,110,000 $259,167 $1,171 6.91%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $7,220,000 $97,568 $900 6.86%
    30-36% 51 $5,355,000 $105,000 $955 6.90%
    <20% 38 $3,550,000 $93,421 $979 6.69%
    40% 15 $1,415,000 $94,333 $680 7.17%
    36% 15 $1,915,000 $127,667 $1,062 6.75%
    38% 13 $745,000 $57,308 $762 7.09%
    42% 12 $860,000 $71,667 $973 6.56%
    39% 11 $775,000 $70,455 $696 7.27%
    41% 10 $820,000 $82,000 $636 7.10%
    37% 6 $900,000 $150,000 $1,579 7.25%
    50-60% 2 $60,000 $30,000 $0 7.50%
    44% 1 $195,000 $195,000 $0 7.75%
    47% 1 $715,000 $715,000 $1,833 7.38%
    >60% 1 $15,000 $15,000 $0 7.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 225 $25,395,000 $112,867 $920 6.89%
    Not applicable 20 $7,940,000 $397,000 $0 7.02%
    Not provided 13 $1,135,000 $87,308 $795 7.13%
    Black 7 $455,000 $65,000 $766 6.89%
    American Indian 4 $350,000 $87,500 $1,220 7.06%
    Asian 1 $95,000 $95,000 $1,513 6.00%
    Asian Indian 1 $75,000 $75,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    92.71%

    Two Rivers Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.39%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    271 $35,445,000 $130,793

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $2,380,000 $56,667 $474 7.20%
    40-60% 28 $5,800,000 $207,143 $994 7.05%
    60-80% 57 $11,815,000 $207,281 $1,486 6.77%
    80-100% 68 $13,270,000 $195,147 $1,477 6.82%
    Under 20% 76 $2,180,000 $28,684 $227 6.88%