Rms & Associates Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 254900FSIRD1E5MR0U30

Tax ID: 88-0354299

1 stars - Updated: 3/28/24 - out of 5 stars, based on 11 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.96% 3/28/24
30 Year Conventional Refi 6.74% 3/28/24
30 Year Cash-out Refi 6.78% 3/28/24
30 Year FHA Purchase 7.57% 3/28/24
30 Year VA Purchase 6.49% 3/28/24
30 Year VA Refi 7.33% 3/28/24
15 Year Conventional Refi 6.18% 3/28/24
15 Year Cash-out Refi 6.18% 3/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Rms & Associates. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

128

Origination Dollar Volume (All Markets)

$40,850,000

Relative 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%
Rms & Associates's top markets include Las Vegas, Pahrump, Los Angeles, and San Francisco among others.

Their top states include:
  • Nevada (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • 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.

    Cathay Bank
    Similarity Rank: 184
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    GREATER NEVADA LLC
    Similarity Rank: 780
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    Similarity Rank: 1442
    RMS & Associates
    Similarity Rank: 1730
    RBC Bank, (Georgia)
    Similarity Rank: 1746
    HOMEAMERICAN MORTGAGE CORPORATION
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 114 $37,840,000 $331,930 $13,256 6.87%
    Cash Out Refi 13 $2,855,000 $219,615 $8,937 7.04%
    Refi 1 $155,000 $155,000 $4,721 6.38%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 66 $23,660,000 $358,485
    $3k-4k 34 $9,290,000 $273,235
    $4k-5k 19 $5,305,000 $279,211
    $2k-3k 4 $990,000 $247,500
    $1k-2k 3 $1,195,000 $398,333

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 90 $28,220,000 $313,556 $13,376 6.87%
    $100k-200k 17 $2,895,000 $170,294 $7,182 7.02%
    $400k-600k 15 $6,765,000 $451,000 $16,126 6.66%
    $600k-1MM 4 $2,800,000 $700,000 $14,479 7.09%
    $100,000 or less 2 $170,000 $85,000 $5,359 7.31%

    2023 saw Rms & Associates place emphasis on $200k-400k loans with 90 originations, totaling $28,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 46 $15,750,000 $342,391 $14,522 6.82%
    $50k-75k 31 $8,135,000 $262,419 $12,113 6.79%
    $100k-150k 24 $8,100,000 $337,500 $13,515 7.17%
    $50k or less 12 $2,230,000 $185,833 $7,803 6.68%
    $150k-250k 11 $4,905,000 $445,909 $13,206 7.00%
    $250k+ 4 $1,730,000 $432,500 $7,453 6.84%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 21 $7,085,000 $337,381 $16,572 6.70%
    49% 10 $3,370,000 $337,000 $10,048 7.01%
    47% 10 $3,490,000 $349,000 $12,920 7.14%
    43% 8 $2,650,000 $331,250 $14,463 6.61%
    44% 8 $2,540,000 $317,500 $13,737 6.97%
    45% 8 $2,740,000 $342,500 $9,800 7.09%
    30-36% 8 $1,790,000 $223,750 $8,519 7.34%
    42% 7 $1,915,000 $273,571 $12,219 7.14%
    41% 7 $2,525,000 $360,714 $11,810 7.14%
    48% 7 $1,835,000 $262,143 $11,287 6.84%
    36% 6 $1,520,000 $253,333 $14,409 6.42%
    46% 6 $2,010,000 $335,000 $12,394 6.96%
    40% 6 $2,260,000 $376,667 $15,241 6.69%
    39% 5 $1,655,000 $331,000 $15,674 6.38%
    20-30% 4 $1,030,000 $257,500 $7,871 6.78%
    37% 3 $925,000 $308,333 $12,606 6.63%
    38% 3 $1,385,000 $461,667 $12,314 6.91%
    <20% 1 $125,000 $125,000 $5,722 6.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $36,270,000 $318,158 $12,923 6.87%
    Asian 11 $3,625,000 $329,545 $11,018 6.95%
    Black 2 $480,000 $240,000 $13,330 6.56%
    Native Hawaiian or Islander 1 $475,000 $475,000 $13,011 7.99%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    88.28%

    Rms & Associates has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 128 $40,850,000 $319,141

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    128 $40,850,000 $319,141

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $630,000 $157,500 $4,422 6.84%
    40-60% 9 $1,875,000 $208,333 $8,959 7.03%
    60-80% 25 $8,235,000 $329,400 $10,253 7.02%
    80-100% 88 $29,890,000 $339,659 $14,340 6.81%
    Under 20% 2 $220,000 $110,000 $5,483 7.56%