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 Refi and Home Purchase loans. Residential Mortgage Solutions has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Baltimore, Washington, Atlanta, Philadelphia, and Boston among others. We have data for 81 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 | 6.95% | 12/16/24 |
| 30 Year Conventional Refi | 6.87% | 12/16/24 |
| 30 Year Cash-out Refi | 6.86% | 12/16/24 |
| 30 Year FHA Purchase | 7.66% | 12/16/24 |
| 30 Year FHA Refi | 7.01% | 12/16/24 |
| 30 Year VA Purchase | 6.71% | 12/16/24 |
| 30 Year VA Refi | 6.72% | 12/16/24 |
| 15 Year Conventional Purchase | 5.99% | 12/16/24 |
| 15 Year Conventional Refi | 6.64% | 12/16/24 |
| 15 Year Cash-out Refi | 6.64% | 12/16/24 |
| 15 Year FHA Refi | 7.18% | 12/16/24 |
| 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. | ||
Residential Mortgage Solutions Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
367Origination Dollar Volume (All Markets)
$104,875,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 151 | $38,625,000 | $255,795 | $7,145 | 5.53% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 25 | $11,315,000 | $452,600 | $11,442 | 4.72% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 11 | $3,175,000 | $288,636 | $11,280 | 5.06% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 9 | $2,705,000 | $300,556 | $10,680 | 4.68% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $2,415,000 | $483,000 | $18,752 | 5.28% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $2,385,000 | $477,000 | $16,766 | 5.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 9 | $2,265,000 | $251,667 | $8,979 | 5.17% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $2,200,000 | $550,000 | $14,095 | 5.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 10 | $2,120,000 | $212,000 | $9,415 | 4.45% |
| Outside of Metro Areas | 7 | $1,995,000 | $285,000 | $11,813 | 4.19% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $8,486 | 5.52% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,655,000 | $331,000 | $9,747 | 4.90% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,485,000 | $297,000 | $10,305 | 4.67% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $1,435,000 | $287,000 | $13,532 | 5.45% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,325,000 | $441,667 | $12,101 | 4.08% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $10,973 | 3.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $6,617 | 6.33% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $13,041 | 5.06% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $7,696 | 4.79% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $9,977 | 4.83% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $10,810 | 5.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $12,194 | 5.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $9,639 | 4.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $9,353 | 3.79% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $8,526 | 5.38% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $8,133 | 6.81% |
| DOVER, DE (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $13,076 | 4.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $22,227 | 4.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $10,050 | 4.63% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $26,835 | 6.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $12,778 | 6.56% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $7,843 | 5.19% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,080 | 3.88% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $11,968 | 5.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $8,457 | 4.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $5,980 | 4.79% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $11,009 | 4.81% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,494 | 5.06% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $9,944 | 3.88% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,890 | 5.13% |
| OCALA, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,349 | 5.88% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $24,685 | 5.25% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $11,583 | 6.06% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $6,227 | 4.37% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $10,142 | 4.50% |
| Granbury, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,951 | 5.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $24,752 | 5.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $10,274 | 3.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $17,497 | 4.99% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $13,508 | 5.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $16,790 | 5.75% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $16,707 | 5.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,228 | 4.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,773 | 3.25% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,129 | 5.25% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,275 | 3.50% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,552 | 4.00% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,260 | 5.88% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,438 | 4.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,584 | 5.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $13,034 | 4.99% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $14,584 | 6.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $12,748 | 6.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $11,626 | 5.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,852 | 3.50% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,644 | 5.50% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,198 | 3.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $12,651 | 5.13% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $14,025 | 4.88% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,287 | 3.75% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,148 | 5.25% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.00% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,258 | 6.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,052 | 5.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,249 | 6.38% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,871 | 4.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,665 | 3.50% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $8,015 | 6.25% |
| READING, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,607 | 3.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,331 | 9.88% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,294 | 9.00% |
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
For 2022, Residential Mortgage Solutions's most frequently originated type of loan was Conventional, with 197 originations. Their 2nd most popular type was FHA, with 135 originations.
Loan Reason
For 2022, Residential Mortgage Solutions's most frequently cited loan purpose was Refi, with 169 originations. The 2nd most popular reason was Home Purchase, with 155 originations.
Loan Duration/Length
For 2022, Residential Mortgage Solutions's most frequently cited loan duration was 30 Year, with 325 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Residential Mortgage Solutions's average total fees were $9,903, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 143 originations.
Interest Rates
During 2022, Residential Mortgage Solutions's average interest rate for loans was 5.14%, while their most frequently originated rate bucket for loans was 5-6%, with 115 originations.
Loan Sizing
2022 saw Residential Mortgage Solutions place emphasis on $200k-400k loans with 178 originations, totaling $50,130,000 in origination value.
Applicant Income
Residential Mortgage Solutions lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $75k-100k, with 81 originations.
Applicant Debt to Income Ratio
Residential Mortgage Solutions lent most frequently to those with DTI ratios of 30-36%, with 59 originations. The next most common DTI ratio? 50-60%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.29%
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 origination84.47%
Residential Mortgage Solutions has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 367 | $104,875,000 | $285,763 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Rocket Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 30.8% |
| Rocket Mortgage, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 7.7% |
| Rocket Mortgage, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.7% |
| Rocket Mortgage, LLC | Conventional home mortgage | Trouble during payment process | 3 | 23.1% |
| Rocket Mortgage, LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 15.4% |
| Rocket Mortgage, LLC | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 7.7% |
| Rocket Mortgage, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.7% |