Ross Mortgage Corporation Rates, Fees & Info
TROY, MILEI: 5493005NU5BA00C1N451
Tax ID: 38-1332826
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Mortgage Data
Review & Overview
Ross Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Ross Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Flint, Washington, Nashville, and Glasgow among others. We have data for 70 markets. (Some data included below & more in-depth data is available with an active subscription.)Ross Mortgage Corporation 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. Ross Mortgage Corporation is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 5/28/23 |
| 30 Year Conventional Refi | 6.59% | 5/28/23 |
| 30 Year Cash-out Refi | 6.86% | 5/28/23 |
| 30 Year FHA Purchase | 7.61% | 5/28/23 |
| 30 Year FHA Refi | 7.84% | 5/28/23 |
| 30 Year VA Purchase | 6.50% | 5/28/23 |
| 30 Year USDA Purchase | 7.37% | 5/28/23 |
| 15 Year Conventional Purchase | 5.99% | 5/28/23 |
| 15 Year Conventional Refi | 5.95% | 5/28/23 |
| 15 Year Cash-out Refi | 5.95% | 5/28/23 |
| 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. | ||
Ross Mortgage Corporation Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
814Origination Dollar Volume (All Markets)
$194,630,000Relative Rate
Ross Mortgage Corporation's average 30 year fixed mortgage rate was
5.49%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.73%.
Relative Fees (Closing Costs)
Ross Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,661.
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 $4,750.
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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 472 | $107,930,000 | $228,665 | $4,538 | 5.37% |
| Outside of Metro Areas | 49 | $11,355,000 | $231,735 | $7,173 | 5.51% |
| FLINT, MI (FHA|USDA|VA) | 63 | $11,355,000 | $180,238 | $4,872 | 5.36% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 18 | $8,330,000 | $462,778 | $13,700 | 5.31% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 21 | $7,115,000 | $338,810 | $10,658 | 6.06% |
| Glasgow, KY (FHA|USDA|VA) | 29 | $5,655,000 | $195,000 | $6,938 | 5.63% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 12 | $3,850,000 | $320,833 | $8,332 | 5.65% |
| MONROE, MI (FHA|USDA|VA) | 12 | $2,950,000 | $245,833 | $4,757 | 5.66% |
| ANN ARBOR, MI (FHA|USDA|VA) | 12 | $2,840,000 | $236,667 | $2,802 | 5.82% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 12 | $2,760,000 | $230,000 | $8,379 | 5.45% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 8 | $2,130,000 | $266,250 | $5,992 | 4.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $2,095,000 | $419,000 | $5,217 | 4.10% |
| OCALA, FL (FHA|USDA|VA) | 7 | $1,605,000 | $229,286 | $5,831 | 5.84% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,530,000 | $382,500 | $8,939 | 5.19% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $9,270 | 6.00% |
| Adrian, MI (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $7,188 | 5.80% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,170,000 | $585,000 | $13,414 | 5.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $13,572 | 5.91% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $11,775 | 5.21% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $8,105 | 6.63% |
| SAGINAW, MI (FHA|USDA|VA) | 6 | $910,000 | $151,667 | $3,571 | 5.73% |
| MIDLAND, MI (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $4,488 | 5.94% |
| JACKSON, MI (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $8,596 | 5.21% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $14,288 | 5.19% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $7,848 | 4.94% |
| Key West, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $5,468 | 3.88% |
| Lewisburg, TN (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $2,351 | 6.63% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $8,744 | 6.31% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,853 | 6.56% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $17,564 | 4.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,464 | 4.44% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $10,795 | 5.63% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 6.50% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,342 | 5.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,685 | 5.13% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,434 | 5.38% |
| Alma, MI (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,548 | 5.88% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,316 | 6.50% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,571 | 6.13% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 5.25% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $13,801 | 5.13% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $17,796 | 5.75% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,336 | 6.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,367 | 5.13% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.63% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,874 | 5.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,005 | 4.25% |
| Urbana, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,417 | 4.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,733 | 3.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,044 | 5.88% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,798 | 5.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $17,452 | 6.13% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,600 | 5.50% |
| London, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,480 | 3.88% |
| BAY CITY, MI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,592 | 6.13% |
| Crossville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,958 | 5.38% |
| Bardstown, KY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,290 | 5.25% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $14,201 | 6.13% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,758 | 5.13% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,985 | 4.13% |
| Campbellsville, KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,543 | 5.50% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,154 | 5.88% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,053 | 5.63% |
| Somerset, KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.13% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.38% |
| ERIE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,528 | 5.63% |
| Alpena, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,032 | 5.50% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,071 | 5.75% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,118 | 3.75% |
| Oil City, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $5,928 | 5.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against ROSS MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Ross Mortgage Corporation's most frequently originated type of loan was Conventional, with 524 originations. Their 2nd most popular type was FHA, with 173 originations.
Loan Reason
For 2022, Ross Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 712 originations. The 2nd most popular reason was Cash Out Refi, with 68 originations.
Loan Duration/Length
For 2022, Ross Mortgage Corporation's most frequently cited loan duration was 30 Year, with 790 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Ross Mortgage Corporation's average total fees were $5,661, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 303 originations.
Interest Rates
During 2022, Ross Mortgage Corporation's average interest rate for loans was 5.49%, while their most frequently originated rate bucket for loans was 5-6%, with 382 originations.
Loan Sizing
2022 saw Ross Mortgage Corporation place emphasis on $200k-400k loans with 350 originations, totaling $97,570,000 in origination value.
Applicant Income
Ross Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 224 originations. The second most popular income band? $75k-100k, with 164 originations.
Applicant Debt to Income Ratio
Ross Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 153 originations. The next most common DTI ratio? 30-36%, with 151 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.11%
Ross Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination86.73%
Ross Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 814 | $194,630,000 | $239,103 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RUSHMORE LOAN MANAGEMENT SERVICES LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| RUSHMORE LOAN MANAGEMENT SERVICES LLC | Conventional home mortgage | Struggling to pay mortgage | 2 | 20.0% |
| RUSHMORE LOAN MANAGEMENT SERVICES LLC | Conventional home mortgage | Trouble during payment process | 6 | 60.0% |
| RUSHMORE LOAN MANAGEMENT SERVICES LLC | FHA mortgage | Trouble during payment process | 1 | 10.0% |