Residential Home Mortgage Corporation Rates, Fees & Info
Hampton, NJLEI: 5493005OOIYF660YQO46
Tax ID: 20-1875448
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
544Origination Dollar Volume (All Markets)
$192,200,000Awards
RESIDENTIAL HOME MORTGAGE CORPORATION - 2021
RESIDENTIAL HOME MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications91.59%
Residential Home Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination75.14%
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% |
