Residential Mortgage Solutions Rates, Fees & Info
Baltimore, MDLEI: 254900SUZ313OILKVD67
Tax ID: 52-2178654
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Mortgage Data
Review & Overview
Residential Mortgage Solutions is a smaller mortgage company specializing in Home Purchase and 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, Charleston, Cape Coral, and New York among others. We have data for 80 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 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.26% | 4/5/25 |
| 30 Year Conventional Refi | 7.26% | 4/5/25 |
| 30 Year FHA Purchase | 7.61% | 4/5/25 |
| 30 Year FHA Refi | 7.14% | 4/5/25 |
| 30 Year VA Purchase | 7.15% | 4/5/25 |
| 30 Year VA Refi | 7.29% | 4/5/25 |
| 15 Year Conventional Refi | 6.43% | 4/5/25 |
| 15 Year Cash-out Refi | 6.43% | 4/5/25 |
| 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. | ||
Residential Mortgage Solutions Mortgage Calculator
Your Estimates
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This is not an official calculator from Residential Mortgage Solutions. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
441Origination Dollar Volume (All Markets)
$136,505,000Awards
Residential Mortgage Solutions - 2024
Residential Mortgage Solutions is a 2024 , due to their low .
For 2024, 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
6.58%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.03%.
Relative Fees (Closing Costs)
Residential Mortgage Solutions's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,734.
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 $8,356.
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) | 223 | $62,965,000 | $282,354 | $9,607 | 6.81% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 45 | $19,035,000 | $423,000 | $13,137 | 6.65% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 10 | $4,340,000 | $434,000 | $9,681 | 6.65% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 12 | $4,180,000 | $348,333 | $13,227 | 6.37% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 8 | $3,710,000 | $463,750 | $13,551 | 6.80% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 12 | $3,250,000 | $270,833 | $10,764 | 6.95% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $2,745,000 | $305,000 | $11,477 | 6.19% |
| Outside of Metro Areas | 6 | $2,360,000 | $393,333 | $10,105 | 5.96% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $8,975 | 6.97% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $1,865,000 | $373,000 | $15,389 | 6.55% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,725,000 | $575,000 | $14,945 | 6.41% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,705,000 | $341,000 | $9,051 | 6.75% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $1,330,000 | $665,000 | $19,526 | 5.81% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $13,118 | 5.83% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $18,775 | 7.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $7,143 | 7.28% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $16,776 | 6.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $4,173 | 6.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $10,777 | 6.46% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $11,276 | 6.38% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $10,278 | 8.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $7,274 | 5.69% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $7,058 | 6.88% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $13,283 | 6.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $8,749 | 6.04% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $12,357 | 5.44% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $12,685 | 5.99% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $22,382 | 6.63% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $11,061 | 7.13% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,598 | 8.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $23,899 | 6.25% |
| DOVER, DE (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $12,593 | 7.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $13,260 | 6.25% |
| FLINT, MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,327 | 5.13% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $10,124 | 6.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,255 | 6.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,383 | 6.13% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $22,942 | 6.63% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,435 | 5.75% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,392 | 5.49% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,016 | 6.88% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $19,114 | 6.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,849 | 5.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,971 | 6.25% |
| Easton, MD (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $20,022 | 6.88% |
| Marquette, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $17,658 | 6.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,325 | 6.13% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,154 | 4.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $17,129 | 6.50% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,731 | 6.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,557 | 5.99% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,289 | 6.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $6,082 | 7.94% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $16,123 | 7.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,695 | 6.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,549 | 5.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $12,710 | 6.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,331 | 6.63% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,399 | 6.13% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,135 | 6.25% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,739 | 6.50% |
| Sayre, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,718 | 6.38% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,373 | 5.13% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,299 | 6.50% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,642 | 6.38% |
| TYLER, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,324 | 5.75% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,914 | 5.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,566 | 6.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $11,806 | 7.13% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,096 | 6.50% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,709 | 5.63% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,648 | 7.49% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $13,535 | 5.13% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $11,631 | 6.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,419 | 6.63% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $10,090 | 6.25% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,137 | 9.75% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,363 | 9.88% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,485 | 9.75% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 10.50% |
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Product Mix
For 2024, Residential Mortgage Solutions's most frequently originated type of loan was FHA, with 208 originations. Their 2nd most popular type was Conventional, with 155 originations.
Loan Reason
For 2024, Residential Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Refi, with 153 originations.
Loan Duration/Length
For 2024, Residential Mortgage Solutions's most frequently cited loan duration was 30 Year, with 418 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
Residential Mortgage Solutions's average total fees were $10,734, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 155 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 240 | $76,590,000 | $319,125 |
| 7-8% | 95 | $27,295,000 | $287,316 |
| 5-6% | 79 | $28,135,000 | $356,139 |
| Over 8% | 23 | $3,465,000 | $150,652 |
| 4-5% | 2 | $570,000 | $285,000 |
During 2024, Residential Mortgage Solutions's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 240 originations.
Loan Sizing
2024 saw Residential Mortgage Solutions place emphasis on $200k-400k loans with 231 originations, totaling $66,635,000 in origination value.
Applicant Income
Residential Mortgage Solutions lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $50k or less, with 101 originations.
Applicant Debt to Income Ratio
Residential Mortgage Solutions lent most frequently to those with DTI ratios of 50-60%, with 52 originations. The next most common DTI ratio? 30-36%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.76%
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 origination82.31%
Residential Mortgage Solutions has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 441 | $136,505,000 | $309,535 |