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 an average proportion of conventional loans. Their top markets by origination volume include: Orlando, Baton Rouge, Tampa, Mccomb, and Knoxville among others. We have data for 90 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 a below average pick rate when compared to similar lenders. Residential Acceptance Corporation is typically an average 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.
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Originations
456Origination Dollar Volume (All Markets)
$69,770,000Awards
Residential Acceptance Corporation - 2018
Residential Acceptance Corporation is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 29 | $6,515,000 | $224,655 | $7,019 | 5.07% |
| Outside of Metro Areas | 34 | $4,390,000 | $129,118 | $4,168 | 5.23% |
| BATON ROUGE, LA (FHA|USDA|VA) | 26 | $4,230,000 | $162,692 | $6,429 | 4.96% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 20 | $3,780,000 | $189,000 | $3,762 | 5.05% |
| McComb, MS (FHA|USDA|VA) | 27 | $2,835,000 | $105,000 | $5,070 | 5.23% |
| KNOXVILLE, TN (FHA|USDA|VA) | 18 | $2,770,000 | $153,889 | $4,684 | 5.44% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 13 | $2,575,000 | $198,077 | $6,370 | 5.03% |
| JACKSON, MS (FHA|USDA|VA) | 17 | $2,235,000 | $131,471 | $5,826 | 5.27% |
| MORRISTOWN, TN (FHA|USDA|VA) | 15 | $2,115,000 | $141,000 | $5,109 | 5.27% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 11 | $1,925,000 | $175,000 | $5,633 | 4.97% |
| LONGVIEW, TX (FHA|USDA|VA) | 15 | $1,895,000 | $126,333 | $5,186 | 4.88% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 11 | $1,835,000 | $166,818 | $4,270 | 5.05% |
| MOBILE, AL (FHA|USDA|VA) | 10 | $1,650,000 | $165,000 | $2,872 | 5.10% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 12 | $1,600,000 | $133,333 | $3,880 | 5.40% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 9 | $1,445,000 | $160,556 | $5,930 | 5.07% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 9 | $1,435,000 | $159,444 | $4,753 | 5.07% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 7 | $1,245,000 | $177,857 | $5,542 | 5.30% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 7 | $1,155,000 | $165,000 | $3,653 | 5.13% |
| DECATUR, AL (FHA|USDA|VA) | 11 | $1,005,000 | $91,364 | $4,656 | 5.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $4,238 | 5.13% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 8 | $950,000 | $118,750 | $3,025 | 5.14% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $5,569 | 4.90% |
| OCALA, FL (FHA|USDA|VA) | 7 | $875,000 | $125,000 | $3,818 | 5.30% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $4,474 | 5.48% |
| TULSA, OK (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $5,604 | 5.28% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $7,126 | 5.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $3,552 | 5.06% |
| HATTIESBURG, MS (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $4,175 | 5.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $4,237 | 5.44% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $6,500 | 4.78% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $1,626 | 5.06% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $6,129 | 5.29% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $2,698 | 5.34% |
| Bedford, IN (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,118 | 5.31% |
| Arcadia, FL (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,164 | 5.38% |
| Laurel, MS (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $3,875 | 5.09% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $4,722 | 5.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,263 | 5.56% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,561 | 5.19% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,511 | 6.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $6,920 | 5.21% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,226 | 4.69% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,076 | 5.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,925 | 4.94% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $4,485 | 4.63% |
| Elk City, OK (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,070 | 5.31% |
| JACKSON, TN (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,851 | 5.21% |
| LAFAYETTE, LA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $4,635 | 5.42% |
| Selma, AL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,687 | 5.06% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,908 | 4.63% |
| MONTGOMERY, AL (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,037 | 5.33% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,542 | 4.94% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $4,871 | 5.50% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $1,986 | 5.31% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,338 | 5.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,268 | 4.50% |
| Natchez, MS-LA (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $3,918 | 5.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,033 | 5.13% |
| Magnolia, AR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,636 | 5.50% |
| Greeneville, TN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,647 | 5.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,461 | 5.13% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,920 | 5.25% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,848 | 4.63% |
| Camden, AR (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $1,117 | 5.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,280 | 5.13% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,186 | 4.25% |
| Bay City, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,052 | 5.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $4,664 | 5.44% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,618 | 5.50% |
| Morgan City, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,035 | 5.00% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,832 | 5.50% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,916 | 5.50% |
| Athens, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,047 | 5.38% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,142 | 4.88% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,928 | 5.13% |
| Auburn, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,075 | 5.63% |
| MONROE, LA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,115 | 5.25% |
| Newport, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,800 | 5.63% |
| Jasper, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,122 | 5.50% |
| Brookhaven, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,061 | 5.50% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,751 | 5.50% |
| Dyersburg, TN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,454 | 5.63% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,512 | 4.63% |
| Mount Sterling, KY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,713 | 5.50% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,701 | 5.13% |
| Picayune, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,786 | 5.50% |
| Lake City, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,697 | 5.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,321 | 5.25% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,295 | 5.00% |
| Angola, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,745 | 5.50% |
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Product Mix
For 2018, Residential Acceptance Corporation's most frequently originated type of loan was FHA, with 290 originations. Their 2nd most popular type was USDA, with 101 originations.
Loan Reason
For 2018, Residential Acceptance Corporation's most frequently cited loan purpose was Home Purchase, with 415 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.
Loan Duration/Length
For 2018, Residential Acceptance Corporation's most frequently cited loan duration was 30 Year, with 452 originations. The 2nd most popular length was Other, with 2 originations.
Origination Fees/Closing Costs
Residential Acceptance Corporation's average total fees were $4,891, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 133 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 297 | $43,495,000 | $146,448 |
| 4-5% | 154 | $25,560,000 | $165,974 |
| 3-4% | 3 | $365,000 | $121,667 |
| 7-8% | 1 | $275,000 | $275,000 |
| Over 8% | 1 | $75,000 | $75,000 |
During 2018, Residential Acceptance Corporation's average interest rate for loans was 5.17%, while their most frequently originated rate bucket for loans was 5-6%, with 297 originations.
Loan Sizing
2018 saw Residential Acceptance Corporation place emphasis on $100k-200k loans with 244 originations, totaling $34,880,000 in origination value.
Applicant Income
Residential Acceptance Corporation lent most frequently to those with incomes in the $50k or less range, with 211 originations. The second most popular income band? $50k-75k, with 158 originations.
Applicant Debt to Income Ratio
Residential Acceptance Corporation lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 20-30%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.98%
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 origination78.73%
Residential Acceptance Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 456 | $69,770,000 | $153,004 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 44 | $4,840,000 | $110,000 |
| Single Family (1-4 Units):Site-Built | 412 | $64,930,000 | $157,597 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Residential Bancorp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Residential Bancorp | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |