Residential Acceptance Corporation Mortgage Rates, Fees & Info
Atlanta, GALEI: 2549009UITWIC4FV7F43
Tax ID: 58-2442998
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Mortgage Data
Review & Overview
Residential Acceptance Corporation is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Residential Acceptance Corporation has a low ratio of conventional loans. Their top markets by origination volume include: Tampa, Baton Rouge, Atlanta, Lakeland, and Orlando among others. We have data for 69 markets. (Some data included below & more in-depth data is available with an active subscription.)Residential Acceptance Corporation 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. Residential Acceptance Corporation is typically a high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 4/5/25 |
| 30 Year Conventional Refi | 6.35% | 4/5/25 |
| 30 Year Cash-out Refi | 6.76% | 4/5/25 |
| 30 Year FHA Purchase | 7.15% | 4/5/25 |
| 30 Year FHA Refi | 14.21% | 4/5/25 |
| 30 Year VA Purchase | 6.82% | 4/5/25 |
| 30 Year USDA Purchase | 6.91% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Residential Acceptance Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Residential Acceptance Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
565Origination Dollar Volume (All Markets)
$170,725,000Relative Rate
Residential Acceptance Corporation's average 30 year fixed mortgage rate was
7.19%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.64%.
Relative Fees (Closing Costs)
Residential Acceptance Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,347.
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 $8,356.
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 |
|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 207 | $74,485,000 | $359,831 | $12,646 | 7.08% |
| BATON ROUGE, LA (FHA|USDA|VA) | 110 | $27,470,000 | $249,727 | $10,748 | 7.16% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 36 | $12,540,000 | $348,333 | $12,456 | 7.43% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 24 | $8,320,000 | $346,667 | $13,589 | 7.06% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 13 | $4,875,000 | $375,000 | $15,610 | 7.04% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 11 | $2,735,000 | $248,636 | $9,403 | 7.09% |
| LAFAYETTE, LA (FHA|USDA|VA) | 11 | $2,555,000 | $232,273 | $11,872 | 7.14% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $2,415,000 | $345,000 | $13,147 | 7.11% |
| GOLDSBORO, NC (FHA|USDA|VA) | 10 | $2,080,000 | $208,000 | $6,387 | 7.79% |
| Morgan City, LA (FHA|USDA|VA) | 10 | $1,860,000 | $186,000 | $8,812 | 7.38% |
| OCALA, FL (FHA|USDA|VA) | 6 | $1,600,000 | $266,667 | $9,696 | 6.92% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $14,666 | 7.28% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $16,540 | 7.17% |
| Outside of Metro Areas | 7 | $1,385,000 | $197,857 | $7,827 | 7.66% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $12,342 | 7.42% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $8,005 | 7.15% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $15,048 | 7.21% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $11,576 | 6.83% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $9,879 | 7.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $6,065 | 6.72% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $11,784 | 7.42% |
| Magnolia, AR (FHA|USDA|VA) | 7 | $975,000 | $139,286 | $5,792 | 7.21% |
| MOBILE, AL (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $8,607 | 7.73% |
| HAMMOND, LA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $12,984 | 7.13% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $860,000 | $143,333 | $10,247 | 7.10% |
| JACKSON, MS (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $10,439 | 7.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $17,312 | 6.56% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $15,626 | 8.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $5,588 | 7.29% |
| MONTGOMERY, AL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $5,937 | 7.71% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $6,781 | 7.09% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $12,695 | 6.88% |
| Wilson, NC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $7,883 | 7.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $12,449 | 6.88% |
| MIDLAND, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $8,480 | 7.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,799 | 7.50% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $4,406 | 7.67% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $15,949 | 7.00% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,892 | 7.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,594 | 8.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,950 | 8.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,680 | 7.00% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,451 | 8.25% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,974 | 8.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,368 | 6.88% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,877 | 8.00% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,511 | 8.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,918 | 7.50% |
| Warren, PA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $6,069 | 6.56% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,074 | 6.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,630 | 7.75% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,206 | 8.00% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,817 | 8.00% |
| Laurel, MS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,273 | 7.25% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $12,668 | 7.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,955 | 8.00% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,870 | 7.25% |
| Kinston, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,603 | 8.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,353 | 7.38% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $9,982 | 8.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,911 | 7.50% |
| Camden, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,084 | 6.75% |
| Atmore, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $11,520 | 7.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,813 | 8.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,593 | 7.38% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $11,816 | 7.13% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,362 | 7.25% |
| St. Marys, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,369 | 7.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,913 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Residential Acceptance Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2024, Residential Acceptance Corporation's most frequently originated type of loan was FHA, with 493 originations. Their 2nd most popular type was USDA, with 43 originations.
Loan Reason
For 2024, Residential Acceptance Corporation's most frequently cited loan purpose was Home Purchase, with 548 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 565 | $170,725,000 | $302,168 | $11,347 | 7.19% |
For 2024, Residential Acceptance Corporation's most frequently cited loan duration was 30 Year, with 565 originations.
Origination Fees/Closing Costs
Residential Acceptance Corporation's average total fees were $11,347, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 426 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 272 | $89,930,000 | $330,625 |
| 7-8% | 267 | $73,685,000 | $275,974 |
| Over 8% | 17 | $4,595,000 | $270,294 |
| 5-6% | 9 | $2,515,000 | $279,444 |
During 2024, Residential Acceptance Corporation's average interest rate for loans was 7.19%, while their most frequently originated rate bucket for loans was 6-7%, with 272 originations.
Loan Sizing
2024 saw Residential Acceptance Corporation place emphasis on $200k-400k loans with 358 originations, totaling $108,080,000 in origination value.
Applicant Income
Residential Acceptance Corporation lent most frequently to those with incomes in the $100k-150k range, with 180 originations. The second most popular income band? $75k-100k, with 169 originations.
Applicant Debt to Income Ratio
Residential Acceptance Corporation lent most frequently to those with DTI ratios of 50-60%, with 112 originations. The next most common DTI ratio? 49%, with 59 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.26%
Residential Acceptance Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.11%
Residential Acceptance Corporation 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 |
|---|---|---|---|
| NA | 565 | $170,725,000 | $302,168 |