Rms & Associates Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 254900FSIRD1E5MR0U30

Tax ID: 88-0354299

2.5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Rms & Associates is a smaller mortgage company specializing in Home Purchase and Refi loans. Rms & Associates has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Las Vegas, Los Angeles, Pahrump, Riverside, and Reno among others. Rms & Associates has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Rms & Associates is typically a high fee lendor.


Originations

737

Origination Dollar Volume (All Markets)

$195,325,000

Relative Rate

Rms & Associates's average 30 year fixed rate mortgage of loans were 3.18%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.03%.

Relative Fees

Rms & Associates's average total fees for a 30 year fixed rate mortgage are $7,143.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 691 $182,105,000 $263,538 $6,936 3.13%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 8 $3,610,000 $451,250 $6,292 3.12%
Pahrump, NV (FHA|USDA|VA) 10 $2,090,000 $209,000 $5,815 3.27%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $1,770,000 $221,250 $6,294 3.22%
RENO, NV (FHA|USDA|VA) 5 $1,285,000 $257,000 $6,630 2.72%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $800,000 $400,000 $5,857 2.87%
Outside of Metro Areas 2 $650,000 $325,000 $3,982 2.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $505,000 $505,000 $22,291 2.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $325,000 $325,000 $7,864 2.50%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $325,000 $325,000 $12,548 3.63%
MODESTO, CA (FHA|USDA|VA) 1 $315,000 $315,000 $13,528 3.13%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $285,000 $285,000 $11,459 2.63%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $285,000 $285,000 $6,116 3.37%
MERCED, CA (FHA|USDA|VA) 1 $275,000 $275,000 $6,902 3.49%
Fernley, NV (FHA|USDA|VA) 1 $235,000 $235,000 $6,714 3.49%
ST. GEORGE, UT (FHA|USDA|VA) 1 $195,000 $195,000 $3,669 2.63%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $5,804 3.75%
SALINAS, CA (FHA|USDA|VA) 1 $85,000 $85,000 $8,082 2.75%

Rms & Associates's top markets include Las Vegas, Los Angeles, Pahrump, Riverside, and Reno among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 541 $139,835,000 $258,475 $5,614 3.12%
FHA 163 $43,465,000 $266,656 $10,838 3.25%
VA 33 $12,025,000 $364,394 $9,264 2.75%

For the 2021 period, Rms & Associates's most frequently originated loan type of loans were Conventional, with 541 originations. Their 2nd most popular type is FHA, with 163 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 349 $102,165,000 $292,736 $8,851 3.23%
Refi 263 $63,315,000 $240,741 $5,035 2.95%
Cash Out Refi 125 $29,845,000 $238,760 $5,572 3.23%

For the 2021, Rms & Associates's most frequently cited loan purpose of loans were Home Purchase, with 349 originations. The 2nd most popular reason of loans were Refi, with 263 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 675 $181,785,000 $269,311 $7,143 3.18%
15 Year 41 $8,585,000 $209,390 $4,540 2.53%
20 Year 12 $3,020,000 $251,667 $5,502 2.95%
Other 8 $1,780,000 $222,500 $4,214 2.92%
10 Year 1 $155,000 $155,000 $2,276 2.25%

For the 2021, Rms & Associates's most frequently cited loan length of loans were 30 Year, with 675 originations. The 2nd most popular length of loans were 15 Year, with 41 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 386 $94,300,000 $244,301
$1k-2k 170 $47,030,000 $276,647
$5k+ 86 $32,140,000 $373,721
$2k-3k 70 $14,680,000 $209,714
$<1k 25 $7,175,000 $287,000

$7,143 of loans were Rms & Associates's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 386 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 352 $91,550,000 $260,085
2.5-3% 311 $84,815,000 $272,717
<2.5% 51 $12,985,000 $254,608
4-5% 23 $5,975,000 $259,783

During 2021, Rms & Associates's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 352 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 484 $133,780,000 $276,405 $7,572 3.17%
$100k-200k 177 $28,665,000 $161,949 $4,940 3.10%
$400k-600k 65 $30,095,000 $463,000 $7,744 2.97%
$100,000 or less 8 $650,000 $81,250 $4,690 3.05%
$600k-1MM 3 $2,135,000 $711,667 $9,894 3.04%

2021 saw Rms & Associates place emphasis on $200k-400k loans with 484 originations, totaling $133,780,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 247 $63,015,000 $255,121 $7,396 3.18%
$50k or less 211 $44,905,000 $212,820 $6,540 3.12%
$75k-100k 113 $34,435,000 $304,735 $7,546 3.14%
$100k-150k 106 $32,640,000 $307,925 $6,368 3.10%
$150k-250k 46 $15,750,000 $342,391 $6,158 3.02%
$250k+ 14 $4,580,000 $327,143 $6,567 3.03%

Rms & Associates lent most frequently to those with incomes in the $50k-75k range, with 247 originations. The second most popular income band? $50k or less, with 211 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 126 $33,020,000 $262,063 $6,411 3.21%
20-30% 101 $26,905,000 $266,386 $6,144 3.06%
44% 47 $12,185,000 $259,255 $7,202 3.17%
41% 44 $12,540,000 $285,000 $7,042 3.18%
49% 40 $10,200,000 $255,000 $7,436 3.19%
43% 39 $10,465,000 $268,333 $7,450 3.11%
50-60% 37 $9,915,000 $267,973 $9,142 3.02%
46% 37 $9,865,000 $266,622 $7,038 3.18%
47% 34 $8,390,000 $246,765 $7,160 3.08%
42% 32 $8,790,000 $274,688 $6,935 3.19%
45% 32 $7,780,000 $243,125 $6,516 3.06%
40% 31 $8,815,000 $284,355 $7,246 3.06%
36% 28 $7,320,000 $261,429 $6,673 3.22%
38% 26 $8,360,000 $321,538 $7,565 3.18%
37% 24 $6,170,000 $257,083 $7,180 3.08%
39% 22 $5,690,000 $258,636 $6,481 3.08%
48% 20 $4,790,000 $239,500 $7,407 3.19%
<20% 16 $3,580,000 $223,750 $5,459 2.83%
>60% 1 $545,000 $545,000 $13,850 3.25%

Rms & Associates lent most frequently to those with DTI ratios of 30-36%, with 126 originations. The next most common DTI ratio? 20-30%, with 101 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 624 $163,500,000 $262,019 $6,989 3.13%
Asian 70 $19,920,000 $284,571 $6,276 3.11%
Black 36 $9,890,000 $274,722 $7,385 3.17%
Native Hawaiian 4 $1,230,000 $307,500 $4,495 3.15%
Filipino 1 $345,000 $345,000 $10,528 3.75%
Other Asian 1 $265,000 $265,000 $11,489 3.00%
Not provided 1 $175,000 $175,000 $3,365 3.00%

Approval Rates

Total approvals of all applications
99.28%

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 origination
97.40%

Rms & Associates 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 737 $195,325,000 $265,027

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
737 $195,325,000 $265,027

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 26 $3,570,000 $137,308 $4,161 2.94%
40-60% 89 $19,835,000 $222,865 $4,794 2.94%
60-80% 282 $73,330,000 $260,035 $5,577 3.14%
80-100% 333 $96,285,000 $289,144 $8,722 3.20%
Over 100% 6 $2,220,000 $370,000 $14,904 2.92%
Under 20% 1 $85,000 $85,000 $8,082 2.75%