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 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, Trenton, and Bridgeport among others. We have data for 32 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

472

Origination Dollar Volume (All Markets)

$160,400,000

Awards

RESIDENTIAL HOME MORTGAGE CORPORATION FHA Loans silver RESIDENTIAL HOME MORTGAGE CORPORATION FHA Loans gold RESIDENTIAL HOME MORTGAGE CORPORATION 30 Year Conventional Loans gold
Show all (3) 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) 299 $113,385,000 $379,214 $5,751 4.03%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 51 $12,195,000 $239,118 $4,754 4.26%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 38 $11,410,000 $300,263 $5,626 4.03%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 11 $3,495,000 $317,727 $4,708 3.99%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 7 $2,655,000 $379,286 $4,903 4.02%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $2,205,000 $315,000 $4,814 3.84%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 8 $1,870,000 $233,750 $4,364 4.33%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $1,860,000 $310,000 $5,091 4.21%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $5,364 3.46%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,115,000 $371,667 $6,555 4.25%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,045,000 $348,333 $5,923 4.17%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $795,000 $265,000 $5,899 4.67%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $710,000 $355,000 $4,495 3.88%
Torrington, CT (FHA|USDA|VA) 2 $660,000 $330,000 $3,351 3.94%
EAST STROUDSBURG, PA (FHA|USDA|VA) 5 $625,000 $125,000 $4,527 4.53%
PITTSBURGH, PA (FHA|USDA|VA) 3 $615,000 $205,000 $5,285 4.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $610,000 $305,000 $5,921 3.50%
READING, PA (FHA|USDA|VA) 3 $545,000 $181,667 $4,247 4.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $450,000 $225,000 $4,014 4.56%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $370,000 $185,000 $4,586 4.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,062 3.50%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $295,000 $295,000 $4,437 3.75%
ROCHESTER, NY (FHA|USDA|VA) 1 $295,000 $295,000 $3,092 3.88%
Sayre, PA (FHA|USDA|VA) 1 $295,000 $295,000 $4,720 3.38%
GLENS FALLS, NY (FHA|USDA|VA) 1 $255,000 $255,000 $3,425 4.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $245,000 $245,000 $5,337 3.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,272 3.50%
Sunbury, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,887 3.88%
UTICA-ROME, NY (FHA|USDA|VA) 1 $115,000 $115,000 $4,467 4.63%
Indiana, PA (FHA|USDA|VA) 1 $105,000 $105,000 $4,808 5.13%
Somerset, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,599 4.88%
SYRACUSE, NY (FHA|USDA|VA) 1 $55,000 $55,000 $4,531 5.00%
Residential Home Mortgage Corporation's top markets include New York, Allentown, Philadelphia, Trenton, and Bridgeport among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (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
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    Schuyler Savings Bank
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    MOUNTAIN MORTGAGE CORP.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 394 $137,110,000 $347,995 $5,358 4.00%
    FHA 76 $22,670,000 $298,289 $6,047 4.45%
    VA 1 $265,000 $265,000 $4,806 4.88%
    USDA 1 $355,000 $355,000 $5,148 4.13%

    For 2019, Residential Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 394 originations. Their 2nd most popular type was FHA, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 269 $93,855,000 $348,903 $5,600 4.02%
    Refi 106 $36,960,000 $348,679 $4,744 3.80%
    Cash Out Refi 94 $28,410,000 $302,234 $5,845 4.50%
    Home Improvement 3 $1,175,000 $391,667 $7,576 4.50%

    For 2019, Residential Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 269 originations. The 2nd most popular reason was Refi, with 106 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 422 $145,140,000 $343,934 $5,544 4.12%
    15 Year 33 $10,135,000 $307,121 $4,810 3.62%
    20 Year 11 $3,375,000 $306,818 $5,114 3.78%
    Other 5 $1,545,000 $309,000 $4,332 3.70%
    10 Year 1 $205,000 $205,000 $5,822 2.88%

    For 2019, Residential Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 422 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 297 $98,355,000 $331,162
    $2k-3k 61 $20,435,000 $335,000
    $5k+ 43 $20,585,000 $478,721
    $3k-4k 36 $10,590,000 $294,167
    $4k-5k 26 $8,690,000 $334,231

    Residential Home Mortgage Corporation's average total fees were $5,544, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 297 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 261 $97,545,000 $373,736
    4-5% 166 $51,090,000 $307,771
    5-6% 33 $7,935,000 $240,455
    2.5-3% 10 $3,620,000 $362,000
    6-7% 2 $210,000 $105,000

    During 2019, Residential Home Mortgage Corporation's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 261 $79,625,000 $305,077 $5,100 4.01%
    $400k-600k 120 $55,660,000 $463,833 $6,109 3.91%
    $100k-200k 57 $8,795,000 $154,298 $4,337 4.53%
    $600k-1MM 19 $13,325,000 $701,316 $9,356 3.90%
    $100,000 or less 13 $905,000 $69,615 $4,205 4.83%
    $1MM+ 2 $2,090,000 $1,045,000 $14,743 4.31%

    2019 saw Residential Home Mortgage Corporation place emphasis on $200k-400k loans with 261 originations, totaling $79,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 153 $51,345,000 $335,588 $5,349 4.04%
    $150k-250k 130 $52,780,000 $406,000 $5,691 3.95%
    $75k-100k 69 $19,885,000 $288,188 $4,918 4.18%
    $50k-75k 56 $12,320,000 $220,000 $4,928 4.31%
    $250k+ 39 $20,915,000 $536,282 $7,479 3.73%
    $50k or less 25 $3,155,000 $126,200 $4,570 4.55%

    Residential Home Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 153 originations. The second most popular income band? $150k-250k, with 130 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 106 $39,240,000 $370,189 $5,440 3.89%
    30-36% 78 $28,100,000 $360,256 $5,926 4.05%
    50-60% 34 $9,520,000 $280,000 $5,698 4.40%
    <20% 26 $10,090,000 $388,077 $5,591 3.86%
    43% 24 $8,230,000 $342,917 $4,671 4.10%
    44% 23 $8,245,000 $358,478 $5,493 4.12%
    41% 22 $6,850,000 $311,364 $5,589 4.20%
    38% 20 $6,760,000 $338,000 $6,290 4.16%
    36% 18 $5,030,000 $279,444 $5,153 4.14%
    47% 18 $6,270,000 $348,333 $5,392 4.15%
    40% 16 $4,380,000 $273,750 $4,835 4.23%
    45% 15 $3,965,000 $264,333 $5,050 4.18%
    37% 15 $5,595,000 $373,000 $5,067 3.90%
    39% 13 $3,865,000 $297,308 $5,470 3.97%
    42% 13 $3,335,000 $256,538 $4,242 4.15%
    48% 11 $4,455,000 $405,000 $6,086 4.18%
    46% 10 $3,520,000 $352,000 $5,320 4.23%
    49% 10 $2,950,000 $295,000 $5,065 4.18%

    Residential Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 381 $128,365,000 $336,916 $5,487 4.08%
    Asian 41 $15,275,000 $372,561 $5,339 3.91%
    Not provided 21 $7,415,000 $353,095 $5,460 4.00%
    Black 21 $7,035,000 $335,000 $5,255 4.15%
    Asian Indian 4 $1,050,000 $262,500 $6,585 4.88%
    Guamanian 2 $600,000 $300,000 $5,701 4.19%
    Native Hawaiian or Islander 1 $375,000 $375,000 $5,481 3.75%
    American Indian 1 $285,000 $285,000 $3,756 4.13%

    Approval Rates

    Total approvals of all applications
    88.38%

    Residential Home Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.80%

    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 472 $160,400,000 $339,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 472 $160,400,000 $339,831

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,725,000 $132,692 $4,566 4.62%
    40-60% 49 $13,085,000 $267,041 $4,645 4.05%
    60-80% 208 $74,640,000 $358,846 $5,813 4.04%
    80-100% 202 $70,950,000 $351,238 $5,371 4.07%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Residential Home Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%