Rain City Capital Mortgage Rates, Fees & Info

SEATTLE, WA

LEI: 5493004T38NMC864VL66

Tax ID: 27-0441646

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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

945

Origination Dollar Volume (All Markets)

$310,105,000

Relative 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%
Rain City Capital's top markets include

Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 426 $123,150,000 $289,085 $0 11.07%
    $100k-200k 243 $36,625,000 $150,720 $0 10.96%
    $400k-600k 140 $66,490,000 $474,929 $0 10.96%
    $600k-1MM 62 $46,260,000 $746,129 $0 11.02%
    $100,000 or less 52 $4,360,000 $83,846 $0 10.96%
    $1MM+ 22 $33,220,000 $1,510,000 $0 11.02%

    2023 saw Rain City Capital place emphasis on $200k-400k loans with 426 originations, totaling $123,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 272 $104,010,000 $382,390 $0 10.64%
    $150k-250k 191 $65,975,000 $345,419 $0 11.10%
    $100k-150k 151 $49,205,000 $325,861 $0 11.14%
    $75k-100k 117 $29,785,000 $254,573 $0 11.23%
    $50k-75k 83 $21,675,000 $261,145 $0 10.86%
    $50k or less 40 $11,950,000 $298,750 $0 11.33%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 507 $157,615,000 $310,878 $0 10.99%
    Not provided 225 $73,975,000 $328,778 $0 11.00%
    Asian 97 $46,045,000 $474,691 $0 10.88%
    Not applicable 55 $14,955,000 $271,909 $0 11.63%
    Black 41 $10,945,000 $266,951 $0 11.07%
    American Indian 14 $4,010,000 $286,429 $0 10.55%
    Native Hawaiian or Islander 6 $2,560,000 $426,667 $0 11.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    56.19%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    945 $310,105,000 $328,153

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $8,060,000 $366,364 $0 11.51%
    40-60% 155 $43,465,000 $280,419 $0 11.10%
    60-80% 731 $243,965,000 $333,741 $0 10.98%
    80-100% 21 $9,075,000 $432,143 $0 10.71%
    Over 100% 7 $2,945,000 $420,714 $0 11.18%
    Under 20% 2 $150,000 $75,000 $0 11.00%