Residential Home Mortgage Corporation Rates, Fees & Info

Hampton, NJ

LEI: 5493005OOIYF660YQO46

Tax ID: 20-1875448

4 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Residential Home Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Residential Home Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include New York, Allentown, Philadelphia, Tampa, and Trenton among others. Residential Home Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Residential Home Mortgage Corporation is typically an average fee lendor.


Originations

544

Origination Dollar Volume (All Markets)

$192,200,000

Awards

RESIDENTIAL HOME MORTGAGE CORPORATION FHA Loans silver RESIDENTIAL HOME MORTGAGE CORPORATION FHA Loans bronze
Show all (2) awards

Relative Rate

Residential Home Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.09%.

Relative Fees

Residential Home Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $5,984.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 268 $106,390,000 $396,978 $6,093 2.91%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 88 $21,760,000 $247,273 $5,919 3.09%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 55 $19,445,000 $353,545 $6,151 2.82%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 19 $6,895,000 $362,895 $5,154 2.95%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 12 $4,570,000 $380,833 $5,933 2.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 10 $3,530,000 $353,000 $4,792 2.86%
PITTSBURGH, PA (FHA|USDA|VA) 11 $3,505,000 $318,636 $5,733 2.83%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $2,965,000 $423,571 $5,374 2.80%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 8 $2,960,000 $370,000 $4,773 2.77%
EAST STROUDSBURG, PA (FHA|USDA|VA) 13 $2,915,000 $224,231 $5,695 3.18%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,385,000 $340,714 $6,148 2.91%
LANCASTER, PA (FHA|USDA|VA) 3 $1,195,000 $398,333 $6,112 2.67%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $1,155,000 $385,000 $6,099 3.29%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $1,150,000 $287,500 $4,739 2.69%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $1,080,000 $540,000 $7,152 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,005,000 $335,000 $5,418 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $945,000 $315,000 $5,338 3.13%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $945,000 $315,000 $4,083 2.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $880,000 $440,000 $7,541 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $810,000 $405,000 $5,563 3.06%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $795,000 $265,000 $5,728 2.92%
Torrington, CT (FHA|USDA|VA) 2 $560,000 $280,000 $5,490 3.06%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $6,099 2.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $505,000 $505,000 $6,864 2.75%
LEBANON, PA (FHA|USDA|VA) 1 $425,000 $425,000 $5,597 2.50%
THE VILLAGES, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,825 2.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,533 2.75%
READING, PA (FHA|USDA|VA) 2 $370,000 $185,000 $4,492 3.31%
New Castle, PA (FHA|USDA|VA) 2 $320,000 $160,000 $4,996 2.88%
ROCHESTER, NY (FHA|USDA|VA) 1 $285,000 $285,000 $4,195 2.50%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $275,000 $275,000 $4,868 3.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $9,888 3.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,521 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,102 3.63%
Outside of Metro Areas 1 $145,000 $145,000 $5,763 3.25%

Residential Home Mortgage Corporation's top markets include New York, Allentown, Philadelphia, Tampa, and Trenton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 503 $180,235,000 $358,320 $5,889 2.92%
FHA 37 $10,175,000 $275,000 $6,445 3.31%
VA 4 $1,790,000 $447,500 $4,578 2.69%

For the 2021 period, Residential Home Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 503 originations. Their 2nd most popular type is FHA, with 37 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 243 $91,005,000 $374,506 $6,065 3.03%
Refi 199 $67,845,000 $340,930 $5,464 2.79%
Cash Out Refi 96 $31,290,000 $325,938 $6,480 3.03%
Home Improvement 6 $2,060,000 $343,333 $6,066 3.25%

For the 2021, Residential Home Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 243 originations. The 2nd most popular reason of loans were Refi, with 199 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 386 $141,720,000 $367,150 $5,984 3.06%
15 Year 76 $22,690,000 $298,553 $5,376 2.48%
Other 59 $19,925,000 $337,712 $6,169 2.86%
20 Year 22 $7,410,000 $336,818 $5,981 2.76%
10 Year 1 $455,000 $455,000 $3,019 1.75%

For the 2021, Residential Home Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 386 originations. The 2nd most popular length of loans were 15 Year, with 76 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 256 $95,550,000 $373,242
$3k-4k 112 $33,400,000 $298,214
$5k+ 98 $40,880,000 $417,143
$2k-3k 61 $17,925,000 $293,852

$5,984 of loans were Residential Home Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 256 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 274 $102,480,000 $374,015
3-4% 180 $58,000,000 $322,222
<2.5% 86 $30,540,000 $355,116
4-5% 4 $1,180,000 $295,000

During 2021, Residential Home Mortgage Corporation's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 2.5-3%, with 274 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 285 $87,165,000 $305,842 $5,635 2.95%
$400k-600k 164 $78,560,000 $479,024 $6,299 2.86%
$100k-200k 73 $11,915,000 $163,219 $5,174 3.06%
$600k-1MM 19 $13,225,000 $696,053 $9,420 3.08%
$100,000 or less 2 $170,000 $85,000 $4,213 2.81%
$1MM+ 1 $1,165,000 $1,165,000 $11,848 2.75%

2021 saw Residential Home Mortgage Corporation place emphasis on $200k-400k loans with 285 originations, totaling $87,165,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 171 $58,745,000 $343,538 $5,719 2.96%
$150k-250k 160 $64,320,000 $402,000 $6,271 2.89%
$75k-100k 75 $22,335,000 $297,800 $5,487 2.98%
$50k-75k 63 $14,715,000 $233,571 $5,543 3.09%
$250k+ 60 $29,670,000 $494,500 $6,620 2.77%
$50k or less 15 $2,415,000 $161,000 $5,558 3.18%

Residential Home Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 171 originations. The second most popular income band? $150k-250k, with 160 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 139 $53,145,000 $382,338 $6,165 2.84%
30-36% 114 $38,890,000 $341,140 $5,715 2.93%
<20% 42 $16,020,000 $381,429 $6,268 2.79%
43% 23 $8,245,000 $358,478 $5,633 2.98%
39% 23 $8,205,000 $356,739 $5,557 2.95%
38% 22 $6,720,000 $305,455 $5,081 3.13%
40% 21 $7,025,000 $334,524 $5,240 3.11%
36% 20 $7,900,000 $395,000 $5,792 2.98%
44% 19 $6,165,000 $324,474 $5,815 3.07%
42% 18 $6,130,000 $340,556 $6,152 3.10%
37% 18 $6,350,000 $352,778 $7,253 2.77%
45% 18 $5,480,000 $304,444 $5,851 3.03%
41% 17 $5,295,000 $311,471 $5,723 3.10%
47% 16 $5,020,000 $313,750 $5,239 3.02%
48% 8 $3,160,000 $395,000 $5,583 2.94%
49% 8 $2,540,000 $317,500 $5,994 3.06%
46% 6 $1,720,000 $286,667 $6,958 3.06%
50-60% 6 $2,020,000 $336,667 $7,787 3.48%
>60% 6 $2,170,000 $361,667 $5,890 3.02%

Residential Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 139 originations. The next most common DTI ratio? 30-36%, with 114 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 436 $152,790,000 $350,436 $5,889 2.95%
Asian 54 $20,370,000 $377,222 $5,869 2.81%
Not provided 32 $10,910,000 $340,938 $5,824 3.02%
Black 17 $6,485,000 $381,471 $7,032 3.02%
Asian Indian 1 $445,000 $445,000 $5,869 3.25%
American Indian 1 $425,000 $425,000 $4,318 2.88%
Not applicable 1 $355,000 $355,000 $6,469 2.75%
Native Hawaiian 1 $245,000 $245,000 $0 3.50%
Other Pacific Islander 1 $175,000 $175,000 $0 3.38%

Approval Rates

Total approvals of all applications
91.59%

Residential Home Mortgage Corporation has an average approval rate.

Pick Rate

Approvals leading to origination
75.14%

Residential Home Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 544 $192,200,000 $353,309

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
544 $192,200,000 $353,309

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 19 $5,755,000 $302,895 $4,752 2.77%
40-60% 82 $24,600,000 $300,000 $5,416 2.75%
60-80% 261 $95,715,000 $366,724 $6,116 2.94%
80-100% 181 $65,625,000 $362,569 $5,976 3.04%
Over 100% 1 $505,000 $505,000 $6,602 4.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Residential Home Mortgage Corporation Conventional home mortgage Trouble during payment process 1 100.0%