Residential Home Mortgage Corporation Rates, Fees & Info

Hampton, NJ

LEI: 5493005OOIYF660YQO46

Tax ID: 20-1875448

1 stars - Updated: 9/18/23 - out of 5 stars, based on 15 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Residential Home Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Residential Home Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Allentown, Philadelphia, Tampa, and Bridgeport among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Residential Home 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. Residential Home Mortgage Corporation is typically a high 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 about average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.66% 9/18/23
    30 Year Conventional Refi 6.59% 9/18/23
    30 Year Cash-out Refi 6.85% 9/18/23
    30 Year FHA Purchase 7.35% 9/18/23
    30 Year FHA Refi 7.18% 9/18/23
    30 Year VA Purchase 6.31% 9/18/23
    15 Year Conventional Purchase 5.79% 9/18/23
    15 Year Conventional Refi 5.42% 9/18/23
    15 Year Cash-out Refi 5.42% 9/18/23
    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.

    Residential Home Mortgage Corporation Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Residential Home Mortgage Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    219

    Origination Dollar Volume (All Markets)

    $79,895,000

    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 mortgage rate was 4.99%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.23%.

    Relative Fees (Closing Costs)

    Residential Home Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $10,025.

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 91 $39,875,000 $438,187 $10,625 4.83%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 53 $13,915,000 $262,547 $8,817 5.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 19 $6,725,000 $353,947 $8,270 4.72%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $2,310,000 $385,000 $11,270 4.94%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,965,000 $655,000 $19,935 4.79%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 7 $1,465,000 $209,286 $9,810 5.30%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 4 $1,380,000 $345,000 $7,359 5.09%
    JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,370,000 $342,500 $9,305 4.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,275,000 $425,000 $4,675 3.46%
    Outside of Metro Areas 3 $1,015,000 $338,333 $9,003 4.21%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $900,000 $450,000 $9,845 3.56%
    PITTSBURGH, PA (FHA|USDA|VA) 3 $875,000 $291,667 $7,507 4.08%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $800,000 $400,000 $5,242 4.50%
    READING, PA (FHA|USDA|VA) 2 $670,000 $335,000 $8,176 4.81%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $650,000 $325,000 $14,210 5.06%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $625,000 $625,000 $14,819 3.88%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $485,000 $485,000 $4,988 3.25%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $485,000 $485,000 $7,279 5.50%
    KINGSTON, NY (FHA|USDA|VA) 1 $405,000 $405,000 $15,303 6.13%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $400,000 $200,000 $5,409 4.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $355,000 $355,000 $10,682 5.13%
    LEBANON, PA (FHA|USDA|VA) 1 $345,000 $345,000 $7,182 3.75%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $295,000 $295,000 $8,010 3.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $11,823 6.13%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $7,343 4.63%
    LANCASTER, PA (FHA|USDA|VA) 1 $235,000 $235,000 $9,093 5.63%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $9,813 5.38%
    Pottsville, PA (FHA|USDA|VA) 1 $205,000 $205,000 $10,117 5.00%
    OCALA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $4,448 5.99%
    Residential Home Mortgage Corporation's top markets include New York, Allentown, Philadelphia, Tampa, and Bridgeport among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against RESIDENTIAL HOME MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Louviers Federal Credit Union
    Similarity Rank: 328
    Schuyler Savings Bank
    Similarity Rank: 352
    The First National Bank of Long Island
    Similarity Rank: 374
    KS StateBank
    Similarity Rank: 550
    The Atlantic Federal Credit Union
    Similarity Rank: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 624
    BHCU
    Similarity Rank: 728
    FEDERATED LENDING CORPORATION
    Similarity Rank: 905

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $65,245,000 $377,139 $8,586 4.76%
    FHA 42 $12,740,000 $303,333 $13,506 5.31%
    VA 4 $1,910,000 $477,500 $17,498 3.97%

    For 2022, Residential Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 173 originations. Their 2nd most popular type was FHA, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $65,540,000 $376,667 $10,367 5.08%
    Cash Out Refi 25 $7,885,000 $315,400 $7,575 4.11%
    Refi 20 $6,470,000 $323,500 $6,737 3.79%

    For 2022, Residential Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 198 $73,720,000 $372,323 $10,025 4.99%
    15 Year 12 $3,550,000 $295,833 $6,740 3.47%
    Other 5 $1,415,000 $283,000 $7,522 3.68%
    20 Year 4 $1,210,000 $302,500 $5,854 3.69%

    For 2022, Residential Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 100 $42,670,000 $426,700
    $3k-4k 34 $10,580,000 $311,176
    $1k-2k 33 $11,695,000 $354,394
    $4k-5k 33 $9,535,000 $288,939
    $2k-3k 17 $5,155,000 $303,235

    Residential Home Mortgage Corporation's average total fees were $10,025, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 100 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 61 $23,145,000 $379,426
    5-6% 60 $22,120,000 $368,667
    4-5% 49 $18,085,000 $369,082
    6-7% 28 $9,920,000 $354,286
    7-8% 11 $2,355,000 $214,091
    2.5-3% 8 $3,380,000 $422,500
    <2.5% 2 $890,000 $445,000

    During 2022, Residential Home Mortgage Corporation's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 3-4%, with 61 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 108 $31,690,000 $293,426 $8,577 4.73%
    $400k-600k 57 $27,425,000 $481,140 $10,289 4.72%
    $100k-200k 30 $4,770,000 $159,000 $7,378 5.53%
    $600k-1MM 19 $14,415,000 $758,684 $17,269 4.68%
    $100,000 or less 4 $340,000 $85,000 $4,844 5.78%
    $1MM+ 1 $1,255,000 $1,255,000 $35,986 4.38%

    2022 saw Residential Home Mortgage Corporation place emphasis on $200k-400k loans with 108 originations, totaling $31,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 60 $21,080,000 $351,333 $8,234 4.55%
    $150k-250k 48 $22,380,000 $466,250 $10,181 4.61%
    $250k+ 46 $20,200,000 $439,130 $12,689 5.54%
    $75k-100k 36 $10,410,000 $289,167 $9,751 4.72%
    $50k-75k 21 $4,505,000 $214,524 $7,597 4.82%
    $50k or less 8 $1,320,000 $165,000 $6,871 5.30%

    Residential Home Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $150k-250k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $14,880,000 $372,000 $8,658 4.62%
    30-36% 39 $14,285,000 $366,282 $9,259 4.72%
    40% 15 $4,755,000 $317,000 $7,831 4.62%
    50-60% 12 $4,720,000 $393,333 $17,632 4.97%
    41% 12 $4,210,000 $350,833 $9,919 4.97%
    44% 12 $5,060,000 $421,667 $12,110 5.33%
    47% 10 $3,850,000 $385,000 $11,448 5.03%
    42% 9 $3,475,000 $386,111 $11,221 5.23%
    43% 9 $3,405,000 $378,333 $7,438 5.28%
    36% 8 $3,980,000 $497,500 $9,867 5.00%
    37% 8 $2,870,000 $358,750 $7,852 4.53%
    45% 7 $2,225,000 $317,857 $9,921 5.50%
    <20% 7 $2,675,000 $382,143 $8,469 4.63%
    38% 7 $2,425,000 $346,429 $9,665 4.37%
    49% 7 $2,105,000 $300,714 $9,418 4.61%
    39% 7 $2,025,000 $289,286 $8,461 5.30%
    46% 4 $1,070,000 $267,500 $8,816 4.97%
    48% 3 $805,000 $268,333 $7,263 5.54%

    Residential Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $63,145,000 $356,751 $9,538 4.80%
    Black 24 $9,060,000 $377,500 $11,123 5.37%
    Asian 15 $6,285,000 $419,000 $9,787 4.66%
    Asian Indian 1 $685,000 $685,000 $7,055 6.00%
    American Indian 1 $445,000 $445,000 $5,617 3.63%
    Not provided 1 $275,000 $275,000 $12,383 5.25%

    Approval Rates

    Total approvals of all applications
    92.19%

    Residential Home Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.76%

    Residential Home Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 219 $79,895,000 $364,817

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    219 $79,895,000 $364,817

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $975,000 $139,286 $4,832 5.07%
    40-60% 20 $5,300,000 $265,000 $6,886 4.19%
    60-80% 64 $24,030,000 $375,469 $8,283 4.64%
    80-100% 127 $49,245,000 $387,756 $11,087 5.06%
    Over 100% 1 $345,000 $345,000 $14,757 3.50%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Rocket Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 30.8%
    Rocket Mortgage, LLC Conventional home mortgage Closing on a mortgage 1 7.7%
    Rocket Mortgage, LLC Conventional home mortgage Struggling to pay mortgage 1 7.7%
    Rocket Mortgage, LLC Conventional home mortgage Trouble during payment process 3 23.1%
    Rocket Mortgage, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 15.4%
    Rocket Mortgage, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 7.7%
    Rocket Mortgage, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%