Rcn Capital Mortgage Rates, Fees & Info
Vernon, CTLEI: 254900JXCS783CPF1D02
Tax ID: 27-2811354
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Mortgage Data
Review & Overview
Rcn Capital is a small mortgage company specializing in Other and Home Purchase loans. Rcn Capital has a high proportion of conventional loans.Rcn Capital has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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 | 6.27% | 4/23/24 |
| 30 Year Conventional Refi | 6.27% | 4/23/24 |
| 30 Year Cash-out Refi | 6.27% | 4/23/24 |
| 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. | ||
Rcn Capital Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6,915Origination Dollar Volume (All Markets)
$1,383,775,000Relative Rate
Rcn Capital's average 30 year fixed mortgage rate was
7.87%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.39%.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 6,915 | $1,383,775,000 | $200,112 | $0 | 8.66% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 6,915 | $1,383,775,000 | $200,112 | $0 | 8.66% |
For 2023, Rcn Capital's most frequently originated type of loan was Conventional, with 6,915 originations.
Loan Reason
For 2023, Rcn Capital's most frequently cited loan purpose was Other, with 3,223 originations. The 2nd most popular reason was Home Purchase, with 2,581 originations.
Loan Duration/Length
For 2023, Rcn Capital's most frequently cited loan duration was 30 Year, with 5,340 originations. The 2nd most popular length was 1 Year, with 1,525 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 3,669 | $755,585,000 | $205,938 |
| 7-8% | 2,747 | $525,285,000 | $191,221 |
| 6-7% | 484 | $99,460,000 | $205,496 |
| % | 11 | $2,655,000 | $241,364 |
| 5-6% | 4 | $790,000 | $197,500 |
During 2023, Rcn Capital's average interest rate for loans was 7.87%, while their most frequently originated rate bucket for loans was Over 8%, with 3,669 originations.
Loan Sizing
2023 saw Rcn Capital place emphasis on $100k-200k loans with 3,702 originations, totaling $533,510,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 6,915 | $1,383,775,000 | $200,112 | $0 | 8.66% |
Approval Rates
Total approvals of all applications86.30%
Rcn Capital has an average approval rate.
Pick Rate
Approvals leading to origination45.31%
Rcn Capital has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,915 | $1,383,775,000 | $200,112 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6,915 | $1,383,775,000 | $200,112 |