Riverwood Bank Mortgage Rates, Fees & Info
Baxter, MNLEI: 549300ZVEC9BMHFLTM94
Tax ID: 41-0145082
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Riverwood Bank is a smaller bank specializing in Home Purchase loans. Riverwood Bank has a high proportion of conventional loans. Their top markets by origination volume include: Brainerd, Minneapolis, Bemidji, Fergus Falls, and St. Cloud among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Riverwood 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.
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.
Originations
228Origination Dollar Volume (All Markets)
$59,060,000Top 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 |
|---|---|---|---|---|---|
| Brainerd, MN (FHA|USDA|VA) | 75 | $21,715,000 | $289,533 | $0 | 0.00% |
| Outside of Metro Areas | 65 | $14,555,000 | $223,923 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 28 | $8,310,000 | $296,786 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 32 | $5,980,000 | $186,875 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 4 | $2,540,000 | $635,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 10 | $1,830,000 | $183,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,430,000 | $715,000 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against RiverWood Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 305
Similarity Rank: 323
Similarity Rank: 442
Similarity Rank: 455
Similarity Rank: 600
Similarity Rank: 616
Similarity Rank: 650
Similarity Rank: 943
Similarity Rank: 1296
Similarity Rank: 2132
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 228 | $59,060,000 | $259,035 | $0 | 0.00% |
For 2024, Riverwood Bank's most frequently originated type of loan was Conventional, with 228 originations.
Loan Reason
For 2024, Riverwood Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 228 | $59,060,000 | $259,035 | $0 | 0.00% |
For 2024, Riverwood Bank's most frequently cited loan duration was Other, with 228 originations.
Loan Sizing
2024 saw Riverwood Bank place emphasis on $200k-400k loans with 79 originations, totaling $22,425,000 in origination value.
Applicant Income
Riverwood Bank lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $75k-100k, with 37 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 228 | $59,060,000 | $259,035 | $0 | 0.00% |
Riverwood Bank lent most frequently to those with DTI ratios of Exempt%, with 228 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.74%
Riverwood 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 origination96.93%
Riverwood Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 228 | $59,060,000 | $259,035 |