Lender review
Riverbank Finance review: what Michigan borrowers should know
Riverbank Finance is a locally owned Grand Rapids mortgage broker that shops your file across wholesale lenders while specializing in Michigan-specific angles: down-payment assistance, zero-down programs, physician loans, and DSCR loans for investors. As a broker it can find sharp pricing on tricky files, though it originates and then hands loans to a wholesale lender to service.
Best for: west michigan buyers wanting a local broker with niche programs
- Headquarters
- Grand Rapids, MI
- Founded
- 2011
- NMLS
- #666287
- Min. credit score
- 620
- Min. down payment
- 3%
- MSHDA MI Home Loan
- Not on the list
What works
- Independent broker shopping multiple wholesale lenders
- Michigan down-payment-assistance and zero-down expertise
- Niche physician and DSCR investor loan programs
What to watch
- As a broker, it doesn't service the loan itself
- Smaller shop concentrated in West Michigan
- Best pricing depends on which wholesale lender fits
The full picture on Riverbank Finance
Riverbank Finance works the broker side of the street from Grand Rapids, shopping your file across a stable of wholesale lenders instead of pushing a single in-house product. That structure lets a West Michigan buyer with a tricky file land pricing a retail shop couldn't match.
Usefully niche programs
The specialties reach corners of the market plenty of lenders simply won't enter.
The broker logic
Riverbank originates the loan but then hands it to a wholesale lender to service, so the payment relationship moves on.
It's a smaller shop concentrated in West Michigan, and your best pricing depends on which wholesale partner happens to fit your profile.
Loan programs at Riverbank Finance
Which core Michigan loan types Riverbank Finance offers, with the typical minimum down payment for each program. Program floors are industry standards — Riverbank Finance's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | ✓ Yes | 0% |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Also offers: Renovation, Reverse.
Where Riverbank Finance's credit bar sits
Riverbank Finance's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| Riverbank Finance | Michigan median* | |
|---|---|---|
| Editorial score | 4.0 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 7 | 5 |
| Michigan-headquartered | Yes | — |
*Median across the 55 Michigan lenders in our catalog.
Compare: University Bank Dart Bank Mortgage 1 This week's Michigan rates
Riverbank Finance: frequently asked questions
What credit score do you need for a Riverbank Finance mortgage?
Riverbank Finance generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
Will Riverbank Finance sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask Riverbank Finance directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — Riverbank Finance did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#666287). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.