Rms & Associates Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 254900FSIRD1E5MR0U30
Tax ID: 88-0354299
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Mortgage Data
Review & Overview
Rms & Associates is a smaller mortgage company specializing in Home Purchase loans. Rms & Associates has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Las Vegas, Pahrump, Los Angeles, and San Francisco among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Rms & Associates 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. Rms & Associates 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 | 6.96% | 12/16/24 |
| 30 Year Conventional Refi | 6.74% | 12/16/24 |
| 30 Year Cash-out Refi | 6.78% | 12/16/24 |
| 30 Year FHA Purchase | 7.57% | 12/16/24 |
| 30 Year VA Purchase | 6.49% | 12/16/24 |
| 30 Year VA Refi | 7.33% | 12/16/24 |
| 15 Year Conventional Refi | 6.18% | 12/16/24 |
| 15 Year Cash-out Refi | 6.18% | 12/16/24 |
| 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. | ||
Rms & Associates Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
128Origination Dollar Volume (All Markets)
$40,850,000Relative Rate
Rms & Associates's average 30 year fixed mortgage rate was
6.88%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.4%.
Relative Fees (Closing Costs)
Rms & Associates's average total fees/closing costs for a 30 year fixed rate
mortgage were $12,780.
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 |
|---|---|---|---|---|---|
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 118 | $38,290,000 | $324,492 | $12,916 | 6.87% |
| Pahrump, NV (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $12,504 | 6.82% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $15,247 | 6.56% |
| Outside of Metro Areas | 2 | $490,000 | $245,000 | $8,687 | 7.88% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,550 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against RMS & Associates 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $19,775,000 | $313,889 | $9,925 | 6.99% |
| FHA | 63 | $20,405,000 | $323,889 | $15,491 | 6.79% |
| VA | 2 | $670,000 | $335,000 | $15,914 | 6.44% |
For 2023, Rms & Associates's most frequently originated type of loan was Conventional, with 63 originations. Their 2nd most popular type was FHA, with 63 originations.
Loan Reason
For 2023, Rms & Associates's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 128 | $40,850,000 | $319,141 | $12,780 | 6.88% |
For 2023, Rms & Associates's most frequently cited loan duration was 30 Year, with 128 originations.
Origination Fees/Closing Costs
Rms & Associates's average total fees were $12,780, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 66 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 63 | $20,435,000 | $324,365 |
| 7-8% | 49 | $15,465,000 | $315,612 |
| 5-6% | 13 | $4,265,000 | $328,077 |
| Over 8% | 3 | $685,000 | $228,333 |
During 2023, Rms & Associates's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 63 originations.
Loan Sizing
2023 saw Rms & Associates place emphasis on $200k-400k loans with 90 originations, totaling $28,220,000 in origination value.
Applicant Income
Rms & Associates lent most frequently to those with incomes in the $75k-100k range, with 46 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
Rms & Associates lent most frequently to those with DTI ratios of 50-60%, with 21 originations. The next most common DTI ratio? 49%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Rms & Associates has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.28%
Rms & Associates has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 128 | $40,850,000 | $319,141 |