Residential Home Funding Corp. Mortgage Rates, Fees & Info
WHITE PLAINS, NYLEI: 5493005XCKCOIX4JMI33
Tax ID: 11-3578006
Latest/2021 | 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, Refi, and Cash Out Refi 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. Their top markets by origination volume include: New York, Miami, Baltimore, Philadelphia, and Washington among others. We have data for 101 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.85% | 3/19/23 |
| 30 Year Conventional Refi | 6.51% | 3/19/23 |
| 30 Year Cash-out Refi | 6.83% | 3/19/23 |
| 30 Year FHA Purchase | 7.58% | 3/19/23 |
| 30 Year FHA Refi | 7.40% | 3/19/23 |
| 30 Year VA Purchase | 6.49% | 3/19/23 |
| 30 Year VA Refi | 6.06% | 3/19/23 |
| 30 Year USDA Purchase | 7.01% | 3/19/23 |
| 30 Year USDA Refi | 6.86% | 3/19/23 |
| 15 Year Conventional Purchase | 6.22% | 3/19/23 |
| 15 Year Conventional Refi | 6.06% | 3/19/23 |
| 15 Year Cash-out Refi | 6.06% | 3/19/23 |
| 15 Year FHA Refi | 6.97% | 3/19/23 |
| 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. | ||
Originations
1,730Origination Dollar Volume (All Markets)
$538,550,000Relative Rate
Residential Home Funding Corp.'s average 30 year fixed mortgage rate was
3.19%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.04%.
Relative Fees (Closing Costs)
Residential Home Funding Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $8,193.
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) | 796 | $301,370,000 | $378,606 | $8,216 | 3.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 147 | $44,735,000 | $304,320 | $8,612 | 3.17% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 100 | $22,670,000 | $226,700 | $7,669 | 3.26% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 82 | $21,410,000 | $261,098 | $7,323 | 2.99% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 53 | $18,435,000 | $347,830 | $7,607 | 2.87% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 43 | $12,845,000 | $298,721 | $7,587 | 3.24% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 27 | $9,505,000 | $352,037 | $7,184 | 3.22% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 45 | $9,015,000 | $200,333 | $6,495 | 3.20% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 46 | $8,820,000 | $191,739 | $5,823 | 3.06% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 28 | $7,030,000 | $251,071 | $8,461 | 3.14% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 28 | $6,220,000 | $222,143 | $6,702 | 3.30% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 23 | $4,675,000 | $203,261 | $9,878 | 3.10% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 23 | $4,245,000 | $184,565 | $8,743 | 3.02% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 16 | $3,340,000 | $208,750 | $6,590 | 3.09% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 12 | $3,030,000 | $252,500 | $8,135 | 3.35% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 11 | $2,615,000 | $237,727 | $5,793 | 2.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 11 | $2,595,000 | $235,909 | $6,587 | 2.95% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 11 | $2,415,000 | $219,545 | $7,081 | 3.34% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 8 | $2,410,000 | $301,250 | $6,023 | 3.03% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 9 | $2,225,000 | $247,222 | $8,060 | 2.89% |
| Outside of Metro Areas | 10 | $1,990,000 | $199,000 | $7,725 | 2.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $1,970,000 | $246,250 | $8,684 | 3.16% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $1,920,000 | $240,000 | $7,287 | 2.97% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 7 | $1,835,000 | $262,143 | $6,246 | 3.14% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,750,000 | $437,500 | $7,867 | 3.81% |
| PITTSBURGH, PA (FHA|USDA|VA) | 7 | $1,745,000 | $249,286 | $8,041 | 2.64% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 8 | $1,660,000 | $207,500 | $7,056 | 3.09% |
| FLORENCE, SC (FHA|USDA|VA) | 8 | $1,600,000 | $200,000 | $5,812 | 3.17% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $7,140 | 3.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $4,723 | 2.19% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $7,237 | 3.08% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $6,782 | 3.05% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 5 | $1,245,000 | $249,000 | $8,629 | 3.32% |
| KINGSTON, NY (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $7,208 | 2.78% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $7,399 | 2.63% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $8,623 | 3.22% |
| OCALA, FL (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $6,019 | 3.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $4,737 | 3.47% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $8,041 | 2.71% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $7,275 | 3.25% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $12,200 | 3.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $14,169 | 3.75% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $9,260 | 2.92% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $5,816 | 2.92% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,647 | 3.13% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,660 | 2.81% |
| GLENS FALLS, NY (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $6,881 | 2.96% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $4,295 | 2.88% |
| Torrington, CT (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,580 | 3.44% |
| Key West, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $10,611 | 2.88% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $8,969 | 3.63% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,809 | 2.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $5,087 | 3.16% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $6,039 | 2.38% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $8,156 | 3.46% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $7,861 | 3.00% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $8,791 | 2.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,417 | 2.63% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $15,040 | 2.63% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $7,396 | 3.21% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $14,046 | 2.81% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $7,638 | 2.69% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,673 | 2.88% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,766 | 2.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,736 | 2.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $8,146 | 3.06% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,008 | 2.88% |
| READING, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,711 | 3.06% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,101 | 3.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,226 | 2.50% |
| Seneca, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,927 | 2.50% |
| Hudson, NY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,974 | 3.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $6,519 | 2.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,759 | 2.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,701 | 2.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,995 | 2.25% |
| ERIE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,107 | 2.88% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,507 | 3.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,948 | 2.63% |
| DOVER, DE (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,643 | 3.25% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,744 | 3.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $14,090 | 3.38% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,222 | 2.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $11,843 | 2.75% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,776 | 2.88% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,087 | 3.25% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,442 | 2.75% |
| Craig, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $12,295 | 2.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $9,925 | 2.75% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,566 | 2.63% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $11,948 | 2.50% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $9,509 | 2.75% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $8,525 | 3.88% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,194 | 3.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $9,434 | 3.25% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,119 | 2.50% |
| Indiana, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,875 | 2.50% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $8,895 | 4.13% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,248 | 2.63% |
| Tifton, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,017 | 2.25% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $8,028 | 4.75% |
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Product Mix
For 2021, Residential Home Funding Corp.'s most frequently originated type of loan was Conventional, with 1,272 originations. Their 2nd most popular type was FHA, with 370 originations.
Loan Reason
For 2021, Residential Home Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 814 originations. The 2nd most popular reason was Refi, with 495 originations.
Loan Duration/Length
For 2021, Residential Home Funding Corp.'s most frequently cited loan duration was 30 Year, with 1,483 originations. The 2nd most popular length was 15 Year, with 128 originations.
Origination Fees/Closing Costs
Residential Home Funding Corp.'s average total fees were $8,193, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 766 originations.
Interest Rates
During 2021, Residential Home Funding Corp.'s average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 814 originations.
Loan Sizing
2021 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 857 originations, totaling $248,475,000 in origination value.
Applicant Income
Residential Home Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 416 originations. The second most popular income band? $50k-75k, with 403 originations.
Applicant Debt to Income Ratio
Residential Home Funding Corp. lent most frequently to those with DTI ratios of 30-36%, with 322 originations. The next most common DTI ratio? 20-30%, with 262 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.93%
Residential Home Funding Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination16.47%
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 | 1,730 | $538,550,000 | $311,301 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RESIDENTIAL HOME FUNDING CORP. | Conventional home mortgage | Closing on a mortgage | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | Reverse mortgage | Closing on a mortgage | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |