Redwood Mortgage Rates, Fees & Info

Santa Rosa, CA

LEI: 5493001WRXQTCKCA6205

Tax ID: 94-1244186

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Improvement and Home Purchase loans. Redwood has a high proportion of conventional loans. Their top markets by origination volume include: Santa Rosa, San Francisco, Napa, Ukiah, and Clearlake among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Redwood 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. 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.73% 9/1/24
    30 Year Conventional Purchase 6.38% 9/1/24
    30 Year Conventional Refi 6.47% 9/1/24
    30 Year Cash-out Refi 6.39% 9/1/24
    15 Year Conventional Purchase 6.13% 9/1/24
    15 Year Conventional Refi 5.86% 9/1/24
    15 Year Cash-out Refi 5.86% 9/1/24
    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.

    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

    3,917

    Origination Dollar Volume (All Markets)

    $935,035,000
    Show all (11) awards

    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
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2,197 $489,035,000 $222,592 $1,642 4.99%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 830 $271,090,000 $326,614 $2,339 4.92%
    NAPA, CA (FHA|USDA|VA) 209 $42,215,000 $201,986 $1,341 5.25%
    Ukiah, CA (FHA|USDA|VA) 196 $37,430,000 $190,969 $1,665 4.80%
    Clearlake, CA (FHA|USDA|VA) 152 $22,740,000 $149,605 $1,560 4.96%
    VALLEJO, CA (FHA|USDA|VA) 96 $18,250,000 $190,104 $1,263 5.20%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 88 $17,160,000 $195,000 $1,635 5.21%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 23 $8,975,000 $390,217 $3,345 4.78%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 18 $4,720,000 $262,222 $1,926 4.89%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $4,625,000 $420,455 $4,278 4.15%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 17 $2,955,000 $173,824 $692 4.81%
    STOCKTON, CA (FHA|USDA|VA) 9 $2,785,000 $309,444 $3,151 4.94%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 12 $2,750,000 $229,167 $867 4.64%
    Outside of Metro Areas 13 $2,375,000 $182,692 $2,737 5.27%
    CHICO, CA (FHA|USDA|VA) 7 $2,305,000 $329,286 $3,288 5.73%
    YUBA CITY, CA (FHA|USDA|VA) 6 $1,290,000 $215,000 $548 4.54%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $795,000 $265,000 $0 5.83%
    MODESTO, CA (FHA|USDA|VA) 4 $540,000 $135,000 $465 5.44%
    FRESNO, CA (FHA|USDA|VA) 2 $470,000 $235,000 $0 7.25%
    Eureka-Arcata, CA (FHA|USDA|VA) 4 $460,000 $115,000 $1,788 4.53%
    MADERA, CA (FHA|USDA|VA) 3 $385,000 $128,333 $2,077 4.25%
    Crescent City, CA (FHA|USDA|VA) 2 $340,000 $170,000 $5,540 3.00%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $335,000 $111,667 $0 6.04%
    SALINAS, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 4.50%
    Red Bluff, CA (FHA|USDA|VA) 3 $275,000 $91,667 $0 5.42%
    REDDING, CA (FHA|USDA|VA) 3 $195,000 $65,000 $0 5.13%
    MERCED, CA (FHA|USDA|VA) 2 $150,000 $75,000 $0 6.94%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.12%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.49%
    Redwood's top markets include Santa Rosa, San Francisco, 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.

    SAFEAMERICA CREDIT UNION
    Similarity Rank: 54
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 77
    Los Angeles Federal Credit Union
    Similarity Rank: 112
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 236
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 324
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 429
    LBS FINANCIAL
    Similarity Rank: 707
    First City Credit Union
    Similarity Rank: 720
    Water and Power Community Credit Union
    Similarity Rank: 721
    VENTURA COUNTY
    Similarity Rank: 882

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,242 $681,030,000 $303,760 $1,768 4.51%
    HELOC 1,675 $254,005,000 $151,645 n/a 5.63%

    For 2022, Redwood's most frequently originated type of loan was Conventional, with 2,242 originations. Their 2nd most popular type was HELOC, with 1,675 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,854 $245,600,000 $132,470 $330 5.24%
    Other 922 $138,540,000 $150,260 $554 5.38%
    Home Purchase 601 $340,475,000 $566,514 $4,247 4.66%
    Cash Out Refi 353 $149,295,000 $422,932 $2,792 3.83%
    Refi 187 $61,125,000 $326,872 $1,859 3.77%

    For 2022, Redwood's most frequently cited loan purpose was Home Improvement, with 1,854 originations. The 2nd most popular reason was Other, with 922 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 2,519 $352,205,000 $139,819 $460 5.43%
    30 Year 974 $526,340,000 $540,390 $3,399 4.10%
    10 Year 318 $39,010,000 $122,673 $189 4.47%
    5 Year 75 $5,365,000 $71,533 $151 4.05%
    20 Year 23 $5,335,000 $231,957 $3,888 3.76%
    30+ year 6 $6,170,000 $1,028,333 $11,842 6.31%
    Other 2 $610,000 $305,000 $5,657 4.38%

    For 2022, Redwood's most frequently cited loan duration was 15 Year, with 2,519 originations. The 2nd most popular length was 30 Year, with 974 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,870 $490,710,000 $262,412
    $1k-2k 139 $50,515,000 $363,417
    $5k+ 80 $55,600,000 $695,000
    $2k-3k 59 $30,405,000 $515,339
    $3k-4k 47 $23,465,000 $499,255
    $4k-5k 33 $16,625,000 $503,788

    Redwood's average total fees were $3,399, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,870 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,534 $340,680,000 $222,086
    5-6% 748 $154,150,000 $206,083
    3-4% 695 $229,665,000 $330,453
    6-7% 440 $74,250,000 $168,750
    7-8% 223 $34,215,000 $153,430
    2.5-3% 195 $87,345,000 $447,923
    Over 8% 64 $10,260,000 $160,313
    <2.5% 18 $4,470,000 $248,333

    During 2022, Redwood's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 4-5%, with 1,534 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,305 $73,615,000 $56,410 $188 5.20%
    $100k-200k 1,047 $140,605,000 $134,293 $808 5.25%
    $200k-400k 830 $216,000,000 $260,241 $1,990 4.87%
    $400k-600k 368 $176,680,000 $480,109 $2,857 4.49%
    $600k-1MM 278 $207,500,000 $746,403 $4,509 4.21%
    $1MM+ 89 $120,635,000 $1,355,449 $7,384 4.24%

    2022 saw Redwood place emphasis on $100,000 or less loans with 1,305 originations, totaling $73,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,098 $275,340,000 $250,765 $1,830 5.07%
    $100k-150k 957 $180,775,000 $188,898 $1,315 5.02%
    $250k+ 611 $254,465,000 $416,473 $3,110 5.04%
    $75k-100k 506 $79,970,000 $158,043 $1,267 4.93%
    $50k-75k 407 $64,655,000 $158,857 $1,352 4.84%
    $50k or less 324 $66,120,000 $204,074 $1,894 4.81%

    Redwood lent most frequently to those with incomes in the $150k-250k range, with 1,098 originations. The second most popular income band? $100k-150k, with 957 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 612 $141,940,000 $231,928 $1,928 4.85%
    50-60% 600 $119,350,000 $198,917 $1,043 5.30%
    30-36% 582 $133,980,000 $230,206 $1,910 4.95%
    <20% 231 $53,975,000 $233,658 $2,345 4.55%
    >60% 194 $50,550,000 $260,567 $1,239 5.24%
    44% 145 $36,115,000 $249,069 $1,721 5.01%
    41% 140 $38,010,000 $271,500 $2,211 4.86%
    46% 139 $32,615,000 $234,640 $1,710 5.15%
    48% 136 $34,000,000 $250,000 $1,626 5.07%
    49% 120 $26,640,000 $222,000 $1,455 5.12%
    40% 120 $28,420,000 $236,833 $1,636 4.82%
    42% 120 $32,350,000 $269,583 $2,280 4.99%
    38% 114 $26,140,000 $229,298 $1,922 5.02%
    39% 113 $33,635,000 $297,655 $2,282 4.77%
    43% 112 $28,170,000 $251,518 $2,387 4.93%
    36% 110 $26,190,000 $238,091 $1,583 4.80%
    37% 107 $26,005,000 $243,037 $1,757 4.82%
    45% 105 $24,075,000 $229,286 $1,429 5.10%
    47% 100 $28,280,000 $282,800 $1,766 5.11%

    Redwood lent most frequently to those with DTI ratios of 20-30%, with 612 originations. The next most common DTI ratio? 50-60%, with 600 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,519 $554,725,000 $220,216 $1,638 5.00%
    Not provided 1,130 $291,650,000 $258,097 $1,961 4.95%
    Asian 120 $37,150,000 $309,583 $2,177 5.16%
    Not applicable 14 $13,710,000 $979,286 $0 4.36%
    Black 43 $11,915,000 $277,093 $1,651 5.22%
    American Indian 41 $9,965,000 $243,049 $2,279 5.06%
    Asian Indian 9 $5,535,000 $615,000 $4,901 4.72%
    Filipino 17 $3,135,000 $184,412 $1,437 5.31%
    Other Asian 6 $2,290,000 $381,667 $2,373 5.13%
    Guamanian 1 $1,125,000 $1,125,000 $4,287 3.25%
    Korean 1 $1,115,000 $1,115,000 $4,961 2.88%
    Native Hawaiian or Islander 6 $1,070,000 $178,333 $1,183 4.75%
    Chinese 5 $895,000 $179,000 $0 4.95%
    Other Pacific Islander 3 $615,000 $205,000 $780 3.87%
    Japanese 2 $140,000 $70,000 $0 3.87%

    Approval Rates

    Total approvals of all applications
    91.08%

    Redwood has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.18%

    Redwood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,917 $935,035,000 $238,712

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,917 $935,035,000 $238,712

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 676 $171,690,000 $253,979 $1,681 5.17%
    40-60% 297 $129,225,000 $435,101 $3,169 4.12%
    60-80% 383 $231,425,000 $604,243 $4,046 4.18%
    80-100% 218 $152,610,000 $700,046 $3,934 4.44%
    Under 20% 2,334 $245,450,000 $105,163 $289 5.23%