Residential Home Mortgage Corporation Rates, Fees & Info

Hampton, NJ

LEI: 5493005OOIYF660YQO46

Tax ID: 20-1875448

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Mortgage Data

Review & Overview

Residential Home Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Residential Home 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: New York, Allentown, Philadelphia, Bridgeport, and Trenton among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

Residential Home Mortgage Corporation has an 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 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.66% 3/28/24
30 Year Conventional Refi 6.59% 3/28/24
30 Year Cash-out Refi 6.85% 3/28/24
30 Year FHA Purchase 7.35% 3/28/24
30 Year FHA Refi 7.18% 3/28/24
30 Year VA Purchase 6.31% 3/28/24
15 Year Conventional Purchase 5.79% 3/28/24
15 Year Conventional Refi 5.42% 3/28/24
15 Year Cash-out Refi 5.42% 3/28/24
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

509

Origination Dollar Volume (All Markets)

$163,785,000
Show all (7) awards

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) 304 $109,750,000 $361,020 $6,055 4.42%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 67 $14,135,000 $210,970 $4,906 4.49%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 44 $13,560,000 $308,182 $5,950 4.54%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 10 $4,620,000 $462,000 $5,961 4.35%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 12 $3,260,000 $271,667 $4,895 4.30%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $2,550,000 $1,275,000 $10,096 4.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $1,835,000 $262,143 $5,388 4.21%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 5 $1,365,000 $273,000 $6,002 4.38%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 6 $1,270,000 $211,667 $6,018 4.58%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,220,000 $305,000 $7,094 4.88%
PITTSBURGH, PA (FHA|USDA|VA) 5 $1,095,000 $219,000 $4,312 4.55%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,890 4.56%
EAST STROUDSBURG, PA (FHA|USDA|VA) 7 $965,000 $137,857 $4,121 4.71%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $900,000 $225,000 $5,141 5.09%
Outside of Metro Areas 5 $865,000 $173,000 $4,617 4.90%
READING, PA (FHA|USDA|VA) 4 $850,000 $212,500 $6,026 4.41%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,448 4.63%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $655,000 $655,000 $5,307 3.50%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $365,000 $365,000 $7,947 3.88%
Torrington, CT (FHA|USDA|VA) 1 $325,000 $325,000 $4,973 4.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,218 4.50%
Sunbury, PA (FHA|USDA|VA) 1 $255,000 $255,000 $3,485 4.38%
ALTOONA, PA (FHA|USDA|VA) 1 $235,000 $235,000 $6,438 3.50%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $235,000 $235,000 $3,584 4.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,025 4.88%
LEBANON, PA (FHA|USDA|VA) 1 $205,000 $205,000 $5,606 5.50%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $185,000 $185,000 $6,253 3.88%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $185,000 $185,000 $5,858 5.00%
Huntingdon, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,793 4.38%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $155,000 $155,000 $5,344 5.50%
ERIE, PA (FHA|USDA|VA) 1 $115,000 $115,000 $5,922 6.00%
Pottsville, PA (FHA|USDA|VA) 1 $95,000 $95,000 $3,540 5.00%
Sayre, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,438 4.25%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $55,000 $55,000 $4,341 4.25%
Residential Home Mortgage Corporation's top markets include New York, Allentown, Philadelphia, Bridgeport, and Trenton among others.

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

    The Neffs National Bank
    Similarity Rank: 30
    N C P D Federal Credit Union
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    Haddon Savings Bank
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    Freehold Savings Bank
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    The Atlantic Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 366 $123,730,000 $338,060 $5,591 4.40%
    FHA 136 $38,300,000 $281,618 $6,183 4.63%
    VA 6 $1,640,000 $273,333 $6,597 4.29%
    USDA 1 $115,000 $115,000 $3,502 4.75%

    For 2018, Residential Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 366 originations. Their 2nd most popular type was FHA, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 288 $96,490,000 $335,035 $5,635 4.42%
    Cash Out Refi 150 $47,460,000 $316,400 $6,254 4.58%
    Refi 65 $18,375,000 $282,692 $5,259 4.29%
    Home Improvement 6 $1,460,000 $243,333 $4,712 4.79%

    For 2018, Residential Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Cash Out Refi, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 444 $146,770,000 $330,563 $5,874 4.50%
    15 Year 36 $10,470,000 $290,833 $5,403 3.95%
    20 Year 16 $3,900,000 $243,750 $4,994 4.45%
    Other 8 $2,020,000 $252,500 $4,055 4.73%
    10 Year 5 $625,000 $125,000 $3,561 3.90%

    For 2018, Residential Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 444 originations. The 2nd most popular length was 15 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 248 $79,410,000 $320,202
    $2k-3k 79 $24,675,000 $312,342
    $5k+ 71 $28,105,000 $395,845
    $3k-4k 49 $13,865,000 $282,959
    $<1k 34 $8,780,000 $258,235
    $4k-5k 18 $6,230,000 $346,111

    Residential Home Mortgage Corporation's average total fees were $5,874, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 248 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 335 $106,635,000 $318,313
    3-4% 115 $42,625,000 $370,652
    5-6% 52 $13,120,000 $252,308
    2.5-3% 4 $1,020,000 $255,000
    6-7% 3 $385,000 $128,333

    During 2018, Residential Home Mortgage Corporation's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 335 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 283 $83,825,000 $296,201 $5,521 4.44%
    $100k-200k 93 $14,275,000 $153,495 $4,555 4.60%
    $400k-600k 92 $43,440,000 $472,174 $6,628 4.36%
    $600k-1MM 22 $16,090,000 $731,364 $9,684 4.29%
    $100,000 or less 15 $1,135,000 $75,667 $4,050 4.83%
    $1MM+ 4 $5,020,000 $1,255,000 $14,805 4.25%

    2018 saw Residential Home Mortgage Corporation place emphasis on $200k-400k loans with 283 originations, totaling $83,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 154 $48,840,000 $317,143 $5,630 4.45%
    $150k-250k 110 $45,440,000 $413,091 $6,582 4.30%
    $75k-100k 105 $28,575,000 $272,143 $5,344 4.55%
    $50k-75k 70 $14,430,000 $206,143 $4,918 4.62%
    $250k+ 36 $22,120,000 $614,444 $7,828 4.20%
    $50k or less 34 $4,380,000 $128,824 $4,643 4.67%

    Residential Home Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 154 originations. The second most popular income band? $150k-250k, with 110 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 87 $30,545,000 $351,092 $5,563 4.36%
    30-36% 86 $31,330,000 $364,302 $5,971 4.35%
    50-60% 57 $16,665,000 $292,368 $6,337 4.65%
    46% 24 $6,800,000 $283,333 $6,055 4.45%
    42% 23 $7,335,000 $318,913 $5,851 4.45%
    47% 23 $7,075,000 $307,609 $5,474 4.74%
    41% 22 $6,430,000 $292,273 $5,376 4.42%
    36% 20 $8,730,000 $436,500 $5,589 4.16%
    40% 18 $4,690,000 $260,556 $5,861 4.72%
    38% 18 $5,710,000 $317,222 $5,656 4.69%
    45% 18 $4,940,000 $274,444 $5,544 4.45%
    <20% 17 $5,335,000 $313,824 $5,691 4.21%
    43% 17 $4,965,000 $292,059 $5,664 4.60%
    49% 17 $4,545,000 $267,353 $6,046 4.46%
    48% 16 $4,260,000 $266,250 $4,916 4.70%
    44% 16 $5,550,000 $346,875 $6,435 4.52%
    37% 15 $4,605,000 $307,000 $5,179 4.30%
    39% 13 $3,255,000 $250,385 $4,862 4.40%
    >60% 2 $1,020,000 $510,000 $5,746 4.38%

    Residential Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 412 $131,240,000 $318,544 $5,695 4.48%
    Asian 29 $11,285,000 $389,138 $5,451 4.23%
    Not provided 32 $10,070,000 $314,688 $6,478 4.40%
    Black 29 $9,335,000 $321,897 $6,345 4.45%
    Asian Indian 4 $1,280,000 $320,000 $5,399 4.22%
    Native Hawaiian or Islander 1 $295,000 $295,000 $7,560 4.88%
    Not applicable 2 $280,000 $140,000 $4,014 4.06%

    Approval Rates

    Total approvals of all applications
    87.93%

    Residential Home Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.39%

    Residential Home Mortgage Corporation 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 509 $163,785,000 $321,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 509 $163,785,000 $321,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,550,000 $182,143 $4,138 4.29%
    40-60% 46 $15,550,000 $338,043 $6,419 4.46%
    60-80% 193 $67,075,000 $347,539 $5,755 4.45%
    80-100% 250 $77,440,000 $309,760 $5,745 4.48%
    Over 100% 5 $1,065,000 $213,000 $5,906 4.53%
    Under 20% 1 $105,000 $105,000 $3,683 4.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    RESIDENTIAL MORTGAGE CORP VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%