Rain City Capital Mortgage Rates, Fees & Info
SEATTLE, WALEI: 5493004T38NMC864VL66
Tax ID: 27-0441646
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Rain City Capital is a smaller mortgage company specializing in Other loans. Rain City Capital has a high proportion of conventional loans.Rain City Capital 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. They typically have relatively high rates.
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Originations
945Origination Dollar Volume (All Markets)
$310,105,000Relative Rate
Rain City Capital's average 30 year fixed mortgage rate was
7.26%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.78%.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 945 | $310,105,000 | $328,153 | $0 | 11.01% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 945 | $310,105,000 | $328,153 | $0 | 11.01% |
For 2023, Rain City Capital's most frequently originated type of loan was Conventional, with 945 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 945 | $310,105,000 | $328,153 | $0 | 11.01% |
For 2023, Rain City Capital's most frequently cited loan purpose was Other, with 945 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 862 | $285,240,000 | $330,905 | $0 | 11.25% |
| 30 Year | 54 | $11,940,000 | $221,111 | $0 | 7.26% |
| Other | 29 | $12,925,000 | $445,690 | $0 | 10.88% |
For 2023, Rain City Capital's most frequently cited loan duration was 1 Year, with 862 originations. The 2nd most popular length was 30 Year, with 54 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 893 | $298,665,000 | $334,451 |
| 7-8% | 34 | $8,280,000 | $243,529 |
| 6-7% | 18 | $3,160,000 | $175,556 |
During 2023, Rain City Capital's average interest rate for loans was 7.26%, while their most frequently originated rate bucket for loans was Over 8%, with 893 originations.
Loan Sizing
2023 saw Rain City Capital place emphasis on $200k-400k loans with 426 originations, totaling $123,150,000 in origination value.
Applicant Income
Rain City Capital lent most frequently to those with incomes in the $250k+ range, with 272 originations. The second most popular income band? $150k-250k, with 191 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Rain City Capital has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination56.19%
Rain City Capital has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 945 | $310,105,000 | $328,153 |