Residential Home Funding Corp. Mortgage Rates, Fees & Info

WHITE PLAINS, NY

LEI: 5493005XCKCOIX4JMI33

Tax ID: 11-3578006

1 stars - Updated: 2/26/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Residential Home Funding Corp. is a smaller mortgage company specializing in Home Purchase loans. Residential Home Funding Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Miami, Baltimore, Bridgeport, and Philadelphia among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)

Residential Home Funding Corp. 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 Funding Corp. 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 7.10% 2/26/24
30 Year Conventional Refi 6.52% 2/26/24
30 Year Cash-out Refi 7.17% 2/26/24
30 Year FHA Purchase 7.56% 2/26/24
30 Year FHA Refi 6.11% 2/26/24
30 Year VA Purchase 6.29% 2/26/24
30 Year USDA Purchase 6.78% 2/26/24
15 Year Conventional Purchase 6.24% 2/26/24
15 Year Conventional Refi 6.17% 2/26/24
15 Year Cash-out Refi 6.17% 2/26/24
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 Funding Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Residential Home Funding Corp.. 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

721

Origination Dollar Volume (All Markets)

$251,875,000

Relative Rate

Residential Home Funding Corp.'s average 30 year fixed mortgage rate was 4.95%.

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

This yields a difference of 0.19%.

Relative Fees (Closing Costs)

Residential Home Funding Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $10,929.

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) 329 $137,225,000 $417,097 $11,027 4.71%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 62 $22,880,000 $369,032 $12,695 5.07%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 35 $9,705,000 $277,286 $10,266 4.96%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 21 $9,065,000 $431,667 $13,608 5.12%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 30 $7,770,000 $259,000 $9,405 4.82%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $4,985,000 $453,182 $13,362 4.99%
EAST STROUDSBURG, PA (FHA|USDA|VA) 21 $4,955,000 $235,952 $8,649 5.20%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 16 $4,790,000 $299,375 $10,936 4.84%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 16 $4,280,000 $267,500 $8,142 5.27%
JACKSONVILLE, FL (FHA|USDA|VA) 13 $3,395,000 $261,154 $11,396 5.03%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $2,550,000 $255,000 $8,884 4.39%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $2,350,000 $1,175,000 $27,274 3.56%
Outside of Metro Areas 12 $2,340,000 $195,000 $6,782 5.23%
PITTSBURGH, PA (FHA|USDA|VA) 13 $1,985,000 $152,692 $8,134 6.27%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 8 $1,880,000 $235,000 $8,283 3.81%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 7 $1,865,000 $266,429 $7,333 4.77%
SAVANNAH, GA (FHA|USDA|VA) 7 $1,825,000 $260,714 $8,254 5.80%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,765,000 $353,000 $10,811 5.28%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 7 $1,685,000 $240,714 $10,376 6.61%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $1,490,000 $372,500 $12,765 4.41%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,410,000 $705,000 $22,298 4.44%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,295,000 $259,000 $10,200 3.93%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,165,000 $388,333 $12,363 4.04%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,055,000 $211,000 $9,671 4.70%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $935,000 $311,667 $15,648 4.92%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3 $755,000 $251,667 $14,012 5.04%
OCALA, FL (FHA|USDA|VA) 4 $740,000 $185,000 $6,848 4.69%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $725,000 $241,667 $8,733 4.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $720,000 $360,000 $15,239 5.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $645,000 $645,000 $18,868 4.88%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $640,000 $320,000 $7,243 4.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $630,000 $315,000 $11,980 4.44%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 4 $560,000 $140,000 $11,561 3.91%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $555,000 $185,000 $6,933 4.04%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $535,000 $178,333 $6,932 4.21%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $530,000 $265,000 $15,284 4.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $500,000 $250,000 $9,589 3.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $480,000 $240,000 $9,121 6.25%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $465,000 $465,000 $0 5.50%
RICHMOND, VA (FHA|USDA|VA) 2 $440,000 $220,000 $9,841 4.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $430,000 $215,000 $6,668 4.75%
Jefferson, GA (FHA|USDA|VA) 1 $415,000 $415,000 $20,871 5.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $405,000 $405,000 $13,215 3.25%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $400,000 $200,000 $6,887 7.56%
KINGSTON, NY (FHA|USDA|VA) 1 $345,000 $345,000 $16,780 5.00%
SYRACUSE, NY (FHA|USDA|VA) 3 $345,000 $115,000 $4,872 5.75%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $340,000 $170,000 $8,479 7.44%
HINESVILLE, GA (FHA|USDA|VA) 1 $335,000 $335,000 $5,069 5.38%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $335,000 $335,000 $11,137 4.63%
COLUMBIA, SC (FHA|USDA|VA) 1 $335,000 $335,000 $11,970 5.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $325,000 $325,000 $11,717 3.75%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $325,000 $325,000 $22,287 4.75%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $305,000 $305,000 $17,011 4.63%
EL PASO, TX (FHA|USDA|VA) 1 $285,000 $285,000 $7,145 3.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $275,000 $275,000 $3,730 2.50%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $255,000 $255,000 $12,239 5.63%
Tifton, GA (FHA|USDA|VA) 1 $255,000 $255,000 $4,932 3.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $225,000 $225,000 $6,013 6.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $8,917 3.75%
Gloversville, NY (FHA|USDA|VA) 1 $195,000 $195,000 $10,822 5.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $185,000 $185,000 $11,088 5.25%
Pottsville, PA (FHA|USDA|VA) 1 $185,000 $185,000 $9,844 4.25%
DALTON, GA (FHA|USDA|VA) 1 $175,000 $175,000 $11,720 5.88%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $3,648 4.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,340 5.75%
CLEVELAND, TN (FHA|USDA|VA) 1 $155,000 $155,000 $7,464 3.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $145,000 $145,000 $7,856 3.25%
UTICA-ROME, NY (FHA|USDA|VA) 1 $145,000 $145,000 $8,286 5.63%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $145,000 $145,000 $6,590 4.63%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $135,000 $135,000 $7,899 4.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $135,000 $135,000 $7,468 4.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $6,194 5.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $125,000 $125,000 $7,626 5.13%
Residential Home Funding Corp.'s top markets include New York, Miami, Baltimore, Bridgeport, and Philadelphia among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 490 $176,630,000 $360,469 $9,072 4.92%
    FHA 199 $63,735,000 $320,276 $14,078 4.77%
    VA 29 $11,015,000 $379,828 $13,369 4.60%
    USDA 2 $420,000 $210,000 $8,727 4.63%
    FHA 1 $75,000 $75,000 $0 2.25%

    For 2022, Residential Home Funding Corp.'s most frequently originated type of loan was Conventional, with 490 originations. Their 2nd most popular type was FHA, with 199 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 538 $193,500,000 $359,665 $10,884 5.01%
    Cash Out Refi 154 $50,160,000 $325,714 $10,634 4.55%
    Refi 29 $8,215,000 $283,276 $8,181 3.76%

    For 2022, Residential Home Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 538 originations. The 2nd most popular reason was Cash Out Refi, with 154 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 677 $240,995,000 $355,975 $10,929 4.95%
    15 Year 26 $6,210,000 $238,846 $7,389 3.22%
    20 Year 12 $3,000,000 $250,000 $7,836 3.72%
    Other 5 $1,205,000 $241,000 $8,085 3.58%
    30+ year 1 $465,000 $465,000 $0 4.55%

    For 2022, Residential Home Funding Corp.'s most frequently cited loan duration was 30 Year, with 677 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 289 $122,005,000 $422,163
    $1k-2k 143 $45,435,000 $317,727
    $4k-5k 74 $19,520,000 $263,784
    $2k-3k 71 $19,335,000 $272,324
    $3k-4k 71 $17,385,000 $244,859
    $<1k 31 $10,155,000 $327,581

    Residential Home Funding Corp.'s average total fees were $10,929, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 289 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 198 $69,850,000 $352,778
    3-4% 196 $68,500,000 $349,490
    5-6% 189 $66,395,000 $351,296
    6-7% 77 $28,385,000 $368,636
    7-8% 22 $7,030,000 $319,545
    2.5-3% 22 $5,330,000 $242,273
    Over 8% 12 $4,660,000 $388,333
    <2.5% 5 $1,725,000 $345,000

    During 2022, Residential Home Funding Corp.'s average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 346 $102,250,000 $295,520 $9,972 4.77%
    $100k-200k 154 $24,120,000 $156,623 $6,919 4.98%
    $400k-600k 151 $72,885,000 $482,682 $13,639 4.92%
    $600k-1MM 50 $36,060,000 $721,200 $17,144 4.80%
    $100,000 or less 11 $955,000 $86,818 $5,240 5.03%
    $1MM+ 9 $15,605,000 $1,733,889 $32,915 5.35%

    2022 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 346 originations, totaling $102,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 188 $70,090,000 $372,819 $11,832 4.92%
    $75k-100k 140 $41,390,000 $295,643 $10,446 4.63%
    $50k-75k 132 $30,850,000 $233,712 $9,006 4.52%
    $150k-250k 113 $48,155,000 $426,150 $11,239 5.00%
    $250k+ 56 $37,190,000 $664,107 $13,171 5.14%
    $50k or less 55 $9,335,000 $169,727 $8,123 4.55%

    Residential Home Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $75k-100k, with 140 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 85 $28,255,000 $332,412 $14,227 4.94%
    30-36% 81 $24,605,000 $303,765 $8,733 4.64%
    20-30% 78 $23,300,000 $298,718 $7,992 4.78%
    48% 39 $17,105,000 $438,590 $13,081 4.57%
    <20% 37 $18,545,000 $501,216 $10,476 5.24%
    49% 34 $13,360,000 $392,941 $11,797 4.42%
    40% 33 $10,085,000 $305,606 $9,140 4.41%
    45% 33 $12,385,000 $375,303 $10,765 5.34%
    37% 31 $10,995,000 $354,677 $11,209 5.08%
    41% 31 $8,925,000 $287,903 $8,754 4.59%
    39% 29 $10,735,000 $370,172 $10,499 4.48%
    43% 29 $9,135,000 $315,000 $11,605 4.72%
    44% 28 $9,690,000 $346,071 $10,122 4.74%
    46% 28 $10,090,000 $360,357 $10,871 4.71%
    47% 25 $8,365,000 $334,600 $11,419 4.91%
    42% 23 $6,825,000 $296,739 $10,452 4.79%
    38% 20 $8,050,000 $402,500 $11,029 4.79%
    36% 17 $5,635,000 $331,471 $11,553 4.70%
    >60% 1 $355,000 $355,000 $22,298 3.25%

    Residential Home Funding Corp. lent most frequently to those with DTI ratios of 50-60%, with 85 originations. The next most common DTI ratio? 30-36%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 472 $163,400,000 $346,186 $10,253 4.93%
    Black 163 $51,835,000 $318,006 $11,414 4.85%
    Asian 80 $34,650,000 $433,125 $11,938 4.49%
    American Indian 4 $1,480,000 $370,000 $12,491 4.06%
    Native Hawaiian or Islander 2 $510,000 $255,000 $18,415 5.14%

    Approval Rates

    Total approvals of all applications
    94.49%

    Residential Home Funding Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -0.97%

    Residential Home Funding Corp. 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 721 $251,875,000 $349,341

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    721 $251,875,000 $349,341

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $3,570,000 $255,000 $6,953 3.46%
    40-60% 78 $25,230,000 $323,462 $9,386 4.43%
    60-80% 241 $86,145,000 $357,448 $9,996 5.01%
    80-100% 382 $134,870,000 $353,063 $11,450 4.90%
    Over 100% 4 $1,670,000 $417,500 $17,883 4.75%
    Under 20% 2 $390,000 $195,000 $8,480 4.75%

    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%