Redwood Mortgage Rates, Fees & Info

Santa Rosa, CA

LEI: 5493001WRXQTCKCA6205

Tax ID: 94-1244186

1.5 stars - Updated: 4/17/25 - out of 5 stars, based on 45 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Redwood is a smaller mortgage company specializing in Home Purchase loans. Redwood has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Santa Rosa, Napa, Ukiah, and Clearlake among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Redwood 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. Redwood is typically a low 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 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.

    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
    Home Equity Line of Credit (HELOC) 7.66% 4/17/25
    30 Year Conventional Purchase 7.13% 4/17/25
    30 Year Conventional Refi 6.84% 4/17/25
    30 Year Cash-out Refi 6.99% 4/17/25
    15 Year Conventional Purchase 7.51% 4/17/25
    15 Year Conventional Refi 6.00% 4/17/25
    15 Year Cash-out Refi 6.00% 4/17/25
    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.

    Redwood Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Redwood. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,053

    Origination Dollar Volume (All Markets)

    $606,185,000

    Awards

    REDWOOD 30 Year Conventional Loans gold REDWOOD 30 Year Conventional Loans bronze REDWOOD 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Redwood's average 30 year fixed mortgage rate was 8.05%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 1.5%.

    Relative Fees (Closing Costs)

    Redwood's average total fees/closing costs for a 30 year fixed rate mortgage were $7,267.

    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

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    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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 547 $287,485,000 $525,567 $7,098 7.85%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1,072 $234,620,000 $218,862 $2,881 8.45%
    NAPA, CA (FHA|USDA|VA) 140 $27,620,000 $197,286 $2,736 8.61%
    Ukiah, CA (FHA|USDA|VA) 96 $14,360,000 $149,583 $1,917 8.41%
    Clearlake, CA (FHA|USDA|VA) 68 $9,020,000 $132,647 $2,367 8.32%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 33 $7,775,000 $235,606 $2,353 8.80%
    VALLEJO, CA (FHA|USDA|VA) 43 $6,915,000 $160,814 $1,410 8.66%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $5,965,000 $1,193,000 $14,440 7.50%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $2,615,000 $523,000 $7,228 8.80%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 6 $2,110,000 $351,667 $2,088 7.94%
    Outside of Metro Areas 9 $1,565,000 $173,889 $4,038 8.51%
    STOCKTON, CA (FHA|USDA|VA) 3 $1,305,000 $435,000 $2,664 6.71%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $815,000 $163,000 $0 9.05%
    Crescent City, CA (FHA|USDA|VA) 2 $750,000 $375,000 $6,443 7.88%
    SALINAS, CA (FHA|USDA|VA) 2 $600,000 $300,000 $0 9.06%
    MADERA, CA (FHA|USDA|VA) 1 $505,000 $505,000 $9,201 7.75%
    CHICO, CA (FHA|USDA|VA) 1 $425,000 $425,000 $5,020 7.38%
    Red Bluff, CA (FHA|USDA|VA) 1 $425,000 $425,000 $4,753 7.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $340,000 $170,000 $4,372 8.69%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $210,000 $105,000 $0 9.50%
    FRESNO, CA (FHA|USDA|VA) 2 $190,000 $95,000 $0 9.88%
    MODESTO, CA (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.62%
    REDDING, CA (FHA|USDA|VA) 2 $150,000 $75,000 $0 9.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 2 $150,000 $75,000 $4,612 7.75%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.74%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.24%
    Redwood's top markets include San Francisco, Santa Rosa, Napa, Ukiah, and Clearlake among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against REDWOOD based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
    Similarity Rank: 42
    SAN FRANCISCO FEDERAL CREDIT UNION
    Similarity Rank: 176
    SOUTHLAND CREDIT UNION
    Similarity Rank: 216
    SACRAMENTO Credit Union
    Similarity Rank: 336
    LBS FINANCIAL
    Similarity Rank: 348
    Water and Power Community Credit Union
    Similarity Rank: 352
    CERTIFIED
    Similarity Rank: 354
    FIRST ENTERTAINMENT
    Similarity Rank: 516
    LA Financial Federal Credit Union
    Similarity Rank: 535
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 546

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,088 $163,660,000 $150,423 n/a 9.18%
    Conventional 965 $442,525,000 $458,575 $4,117 7.31%

    For 2024, Redwood's most frequently originated type of loan was HELOC, with 1,088 originations. Their 2nd most popular type was Conventional, with 965 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 846 $111,880,000 $132,246 $530 8.92%
    Home Purchase 485 $360,415,000 $743,124 $7,709 6.75%
    Other 381 $46,095,000 $120,984 $334 8.82%
    Cash Out Refi 302 $67,730,000 $224,272 $1,517 8.64%
    Refi 39 $20,065,000 $514,487 $3,642 6.64%

    For 2024, Redwood's most frequently cited loan purpose was Home Improvement, with 846 originations. The 2nd most popular reason was Home Purchase, with 485 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,133 $452,975,000 $399,801 $7,267 8.05%
    Other 460 $84,930,000 $184,630 $5,577 9.10%
    15 Year 317 $33,065,000 $104,306 $312 8.34%
    10 Year 87 $21,245,000 $244,195 $191 7.86%
    5 Year 30 $1,350,000 $45,000 $24 7.84%
    20 Year 15 $3,935,000 $262,333 $4,575 6.53%
    30+ year 11 $8,685,000 $789,545 $8,593 6.65%

    For 2024, Redwood's most frequently cited loan duration was 30 Year, with 1,133 originations. The 2nd most popular length was Other, with 460 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 497 $96,925,000 $195,020
    $1k-2k 366 $270,550,000 $739,208
    $2k-3k 31 $20,135,000 $649,516
    $5k+ 15 $13,565,000 $904,333
    $4k-5k 10 $11,940,000 $1,194,000
    $3k-4k 6 $6,850,000 $1,141,667

    Redwood's average total fees were $7,267, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 497 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 1,281 $185,455,000 $144,774
    6-7% 410 $299,340,000 $730,098
    7-8% 289 $55,605,000 $192,405
    5-6% 68 $62,210,000 $914,853
    4-5% 5 $3,575,000 $715,000

    During 2024, Redwood's average interest rate for loans was 8.05%, while their most frequently originated rate bucket for loans was Over 8%, with 1,281 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 665 $39,465,000 $59,346 $192 8.80%
    $100k-200k 523 $67,445,000 $128,958 $1,254 8.83%
    $200k-400k 415 $105,965,000 $255,337 $4,023 8.41%
    $400k-600k 165 $79,245,000 $480,273 $6,240 7.39%
    $600k-1MM 162 $124,940,000 $771,235 $7,489 6.58%
    $1MM+ 123 $189,125,000 $1,537,602 $10,467 6.51%

    2024 saw Redwood place emphasis on $100,000 or less loans with 665 originations, totaling $39,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 656 $161,470,000 $246,143 $3,825 8.34%
    $250k+ 486 $294,890,000 $606,770 $7,377 7.98%
    $100k-150k 470 $79,520,000 $169,191 $2,335 8.46%
    $75k-100k 235 $32,815,000 $139,638 $2,190 8.53%
    $50k-75k 136 $16,860,000 $123,971 $1,665 8.43%
    $50k or less 60 $5,210,000 $86,833 $2,531 8.42%

    Redwood lent most frequently to those with incomes in the $150k-250k range, with 656 originations. The second most popular income band? $250k+, with 486 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 438 $102,760,000 $234,612 $3,138 8.72%
    20-30% 310 $74,320,000 $239,742 $4,001 8.18%
    30-36% 296 $82,120,000 $277,432 $3,857 8.22%
    <20% 81 $18,415,000 $227,346 $3,834 8.17%
    49% 77 $26,875,000 $349,026 $4,107 8.43%
    >60% 70 $27,500,000 $392,857 $6,171 7.92%
    44% 65 $17,735,000 $272,846 $3,209 8.40%
    39% 65 $22,535,000 $346,692 $4,258 8.16%
    45% 64 $21,760,000 $340,000 $3,882 8.31%
    40% 63 $16,065,000 $255,000 $3,708 8.27%
    46% 61 $18,075,000 $296,311 $4,275 8.06%
    48% 61 $25,825,000 $423,361 $5,373 8.10%
    47% 59 $21,355,000 $361,949 $4,389 8.16%
    36% 58 $15,740,000 $271,379 $4,447 8.30%
    41% 58 $20,080,000 $346,207 $5,272 8.13%
    37% 57 $21,615,000 $379,211 $4,572 8.14%
    42% 55 $22,525,000 $409,545 $4,565 7.95%
    43% 54 $12,890,000 $238,704 $3,772 8.54%
    38% 51 $22,575,000 $442,647 $5,605 8.18%

    Redwood lent most frequently to those with DTI ratios of 50-60%, with 438 originations. The next most common DTI ratio? 20-30%, with 310 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,454 $382,360,000 $262,971 $3,756 8.37%
    Not provided 429 $136,505,000 $318,193 $4,613 8.27%
    Asian 86 $55,900,000 $650,000 $6,567 7.42%
    Not applicable 10 $15,420,000 $1,542,000 $0 6.69%
    Black 25 $7,245,000 $289,800 $5,816 8.12%
    American Indian 24 $4,920,000 $205,000 $2,320 8.34%
    Chinese 6 $940,000 $156,667 $0 8.77%
    Filipino 5 $915,000 $183,000 $0 8.90%
    Vietnamese 3 $785,000 $261,667 $4,034 7.70%
    Asian Indian 3 $575,000 $191,667 $0 9.58%
    Native Hawaiian 1 $205,000 $205,000 $0 7.99%
    Other Pacific Islander 3 $175,000 $58,333 $0 8.83%
    Other Asian 2 $150,000 $75,000 $0 9.25%
    Native Hawaiian or Islander 2 $90,000 $45,000 $0 7.87%

    Approval Rates

    Total approvals of all applications
    81.33%

    Redwood has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.96%

    Redwood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,053 $606,185,000 $295,268

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,053 $606,185,000 $295,268

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 328 $85,990,000 $262,165 $3,692 8.65%
    40-60% 103 $50,995,000 $495,097 $6,567 7.14%
    60-80% 229 $195,205,000 $852,424 $7,936 6.62%
    80-100% 154 $126,580,000 $821,948 $7,282 6.62%
    Under 20% 1,231 $134,675,000 $109,403 $316 8.84%