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
736Origination Dollar Volume (All Markets)
$286,730,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 736 | $286,730,000 | $389,579 | $0 | 9.76% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 736 | $286,730,000 | $389,579 | $0 | 9.76% |
For 2022, Rain City Capital's most frequently originated type of loan was Conventional, with 736 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 736 | $286,730,000 | $389,579 | $0 | 9.76% |
For 2022, Rain City Capital's most frequently cited loan purpose was Other, with 736 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 639 | $251,195,000 | $393,106 | $0 | 10.14% |
| 30 Year | 68 | $23,130,000 | $340,147 | $0 | 5.70% |
| Other | 29 | $12,405,000 | $427,759 | $0 | 10.91% |
For 2022, Rain City Capital's most frequently cited loan duration was 1 Year, with 639 originations. The 2nd most popular length was 30 Year, with 68 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 512 | $192,670,000 | $376,309 |
| 7-8% | 164 | $73,900,000 | $450,610 |
| 4-5% | 30 | $9,680,000 | $322,667 |
| 5-6% | 14 | $4,110,000 | $293,571 |
| 6-7% | 14 | $5,890,000 | $420,714 |
During 2022, Rain City Capital's average interest rate for loans was 5.70%, while their most frequently originated rate bucket for loans was Over 8%, with 512 originations.
Loan Sizing
2022 saw Rain City Capital place emphasis on $200k-400k loans with 317 originations, totaling $92,955,000 in origination value.
Applicant Income
Rain City Capital lent most frequently to those with incomes in the $250k+ range, with 229 originations. The second most popular income band? $150k-250k, with 151 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 origination55.71%
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 | 736 | $286,730,000 | $389,579 |