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 and Refi loans. Rms & Associates has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Las Vegas, Los Angeles, Pahrump, Riverside, and Reno among others. We have data for 18 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. Rms & Associates 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 about average 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.74% | 11/21/24 |
| 30 Year Cash-out Refi | 6.78% | 11/21/24 |
| 30 Year FHA Purchase | 7.57% | 11/21/24 |
| 30 Year VA Purchase | 6.49% | 11/21/24 |
| 30 Year VA Refi | 7.33% | 11/21/24 |
| 15 Year Conventional Refi | 6.18% | 11/21/24 |
| 15 Year Cash-out Refi | 6.18% | 11/21/24 |
| 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
737Origination Dollar Volume (All Markets)
$195,325,000Top 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) | 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% |
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 | 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 2021, Rms & Associates's most frequently originated type of loan was Conventional, with 541 originations. Their 2nd most popular type was FHA, with 163 originations.
Loan Reason
For 2021, Rms & Associates's most frequently cited loan purpose was Home Purchase, with 349 originations. The 2nd most popular reason was Refi, with 263 originations.
Loan Duration/Length
For 2021, Rms & Associates's most frequently cited loan duration was 30 Year, with 675 originations. The 2nd most popular length was 15 Year, with 41 originations.
Origination Fees/Closing Costs
Rms & Associates's average total fees were $7,143, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 238 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 for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 352 originations.
Loan Sizing
2021 saw Rms & Associates place emphasis on $200k-400k loans with 484 originations, totaling $133,780,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.19%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 737 | $195,325,000 | $265,027 |