Residential Mortgage Solutions Rates, Fees & Info
Baltimore, MDLEI: 254900SUZ313OILKVD67
Tax ID: 52-2178654
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Residential Mortgage Solutions is a smaller mortgage company specializing in Refi and Cash Out Refi loans. They have a a high proportion of FHA loans. Residential Mortgage Solutions has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, New York, Philadelphia, and Boston among others. We have data for 105 markets. (Some data included below & more in-depth data is available with an active subscription.)Residential Mortgage Solutions 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. Residential Mortgage Solutions 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 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 | 6.90% | 3/19/23 |
| 30 Year Conventional Refi | 6.68% | 3/19/23 |
| 30 Year Cash-out Refi | 6.86% | 3/19/23 |
| 30 Year FHA Purchase | 7.84% | 3/19/23 |
| 30 Year FHA Refi | 6.98% | 3/19/23 |
| 30 Year VA Purchase | 6.79% | 3/19/23 |
| 30 Year VA Refi | 6.71% | 3/19/23 |
| 15 Year Conventional Purchase | 6.12% | 3/19/23 |
| 15 Year Conventional Refi | 6.12% | 3/19/23 |
| 15 Year Cash-out Refi | 6.12% | 3/19/23 |
| 15 Year FHA Refi | 7.05% | 3/19/23 |
| 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. | ||
Originations
668Origination Dollar Volume (All Markets)
$201,070,000Awards
Residential Mortgage Solutions - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Residential Mortgage Solutions's average 30 year fixed mortgage rate was
3.07%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.08%.
Relative Fees (Closing Costs)
Residential Mortgage Solutions's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,598.
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 $4,750.
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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 271 | $75,135,000 | $277,251 | $6,155 | 3.12% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 62 | $23,820,000 | $384,194 | $8,467 | 2.94% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 20 | $7,360,000 | $368,000 | $10,034 | 2.81% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 23 | $6,405,000 | $278,478 | $8,159 | 3.02% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 15 | $6,175,000 | $411,667 | $8,423 | 3.12% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 16 | $6,030,000 | $376,875 | $8,659 | 2.91% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $4,395,000 | $399,545 | $7,771 | 2.65% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 17 | $4,215,000 | $247,941 | $7,224 | 3.10% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 10 | $3,040,000 | $304,000 | $9,085 | 2.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 10 | $3,000,000 | $300,000 | $8,759 | 3.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 9 | $2,545,000 | $282,778 | $6,995 | 2.92% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 8 | $2,420,000 | $302,500 | $6,632 | 2.94% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $2,365,000 | $473,000 | $12,435 | 2.70% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $2,290,000 | $381,667 | $7,676 | 3.08% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,100,000 | $262,500 | $6,332 | 2.86% |
| Outside of Metro Areas | 8 | $2,020,000 | $252,500 | $5,093 | 3.11% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $1,785,000 | $357,000 | $9,267 | 2.70% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $1,745,000 | $249,286 | $6,839 | 3.11% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $7,517 | 2.93% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $6,753 | 3.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $7,153 | 3.41% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $8,355 | 3.08% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $9,881 | 3.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $1,135,000 | $227,000 | $7,153 | 2.83% |
| RICHMOND, VA (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $5,770 | 3.23% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $6,910 | 2.83% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $6,501 | 3.46% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $5,156 | 2.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $9,744 | 3.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $7,879 | 3.41% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $7,822 | 2.96% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $7,618 | 3.66% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $6,468 | 2.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $7,285 | 3.08% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $9,672 | 2.83% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,804 | 3.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $8,085 | 2.81% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $5,930 | 2.96% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $15,642 | 2.25% |
| VICTORIA, TX (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $5,566 | 3.38% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $7,115 | 2.83% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $9,193 | 2.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,461 | 2.62% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $4,338 | 3.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $8,961 | 3.18% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $7,730 | 2.56% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $10,016 | 3.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,848 | 3.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $13,245 | 2.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $12,380 | 2.81% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,632 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $9,323 | 2.81% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $8,532 | 2.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $7,447 | 2.63% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $6,019 | 2.94% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,495 | 3.06% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,419 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,246 | 3.12% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,305 | 3.63% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,742 | 3.38% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,943 | 2.50% |
| DOVER, DE (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,402 | 3.25% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $16,897 | 4.13% |
| Durango, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,270 | 3.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,858 | 3.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $9,171 | 2.25% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $9,644 | 2.88% |
| Connersville, IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,221 | 2.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,173 | 2.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,113 | 2.99% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,438 | 2.25% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,056 | 2.75% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,003 | 2.50% |
| Sonora, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,930 | 2.38% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,461 | 3.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $10,299 | 2.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,534 | 2.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,031 | 2.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,486 | 3.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,486 | 3.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,561 | 2.50% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,661 | 3.38% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,265 | 2.63% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,748 | 2.38% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,357 | 3.13% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,514 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,718 | 3.25% |
| CHICO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,829 | 3.13% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,051 | 3.13% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,188 | 2.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,391 | 2.85% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,445 | 2.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,751 | 2.75% |
| Torrington, CT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,287 | 2.75% |
| MONROE, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,726 | 2.50% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,187 | 2.99% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,292 | 2.99% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,240 | 2.75% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,407 | 3.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,009 | 3.63% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,984 | 2.88% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,136 | 3.65% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,083 | 3.13% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,934 | 3.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,104 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Residential Mortgage Solutions 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 |
|---|---|---|---|---|---|
| FHA | 343 | $101,275,000 | $295,262 | $9,067 | 2.85% |
| Conventional | 301 | $90,015,000 | $299,053 | $4,872 | 3.23% |
| VA | 24 | $9,780,000 | $407,500 | $11,060 | 2.90% |
For 2021, Residential Mortgage Solutions's most frequently originated type of loan was FHA, with 343 originations. Their 2nd most popular type was Conventional, with 301 originations.
Loan Reason
For 2021, Residential Mortgage Solutions's most frequently cited loan purpose was Refi, with 377 originations. The 2nd most popular reason was Cash Out Refi, with 168 originations.
Loan Duration/Length
For 2021, Residential Mortgage Solutions's most frequently cited loan duration was 30 Year, with 578 originations. The 2nd most popular length was 15 Year, with 33 originations.
Origination Fees/Closing Costs
Residential Mortgage Solutions's average total fees were $7,598, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 439 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 263 | $77,325,000 | $294,011 |
| 2.5-3% | 246 | $75,480,000 | $306,829 |
| <2.5% | 134 | $42,050,000 | $313,806 |
| 4-5% | 25 | $6,215,000 | $248,600 |
During 2021, Residential Mortgage Solutions's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 3-4%, with 263 originations.
Loan Sizing
2021 saw Residential Mortgage Solutions place emphasis on $200k-400k loans with 429 originations, totaling $123,975,000 in origination value.
Applicant Income
Residential Mortgage Solutions lent most frequently to those with incomes in the $50k or less range, with 242 originations. The second most popular income band? $100k-150k, with 136 originations.
Applicant Debt to Income Ratio
Residential Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 79 originations. The next most common DTI ratio? 30-36%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.69%
Residential Mortgage Solutions has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.38%
Residential Mortgage Solutions has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 668 | $201,070,000 | $301,003 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Residential Home Mortgage Corporation | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |