Residential Home Funding Corp. Mortgage Rates, Fees & Info

WHITE PLAINS, NY

LEI: 5493005XCKCOIX4JMI33

Tax ID: 11-3578006

1.4 stars - out of 5 stars, based on 42 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include New York, Miami, Baltimore, Philadelphia, and Washington among others. Residential Home Funding Corp. 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 Funding Corp. is typically a high fee lendor.


Originations

1,730

Origination Dollar Volume (All Markets)

$538,550,000

Relative Rate

Residential Home Funding Corp.'s average 30 year fixed rate mortgage of loans were 3.19%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.04%.

Relative Fees

Residential Home Funding Corp.'s average total fees for a 30 year fixed rate mortgage are $8,193.

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) 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%

Residential Home Funding Corp.'s top markets include New York, Miami, Baltimore, Philadelphia, and Washington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,272 $410,890,000 $323,027 $6,704 3.13%
FHA 370 $103,480,000 $279,676 $11,525 3.15%
VA 78 $21,870,000 $280,385 $9,622 2.79%
USDA 10 $2,310,000 $231,000 $6,877 3.08%

For the 2021 period, Residential Home Funding Corp.'s most frequently originated loan type of loans were Conventional, with 1,272 originations. Their 2nd most popular type is FHA, with 370 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 814 $268,150,000 $329,423 $8,403 3.26%
Refi 495 $154,715,000 $312,556 $6,343 2.84%
Cash Out Refi 421 $115,685,000 $274,786 $8,638 3.15%

For the 2021, Residential Home Funding Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 814 originations. The 2nd most popular reason of loans were Refi, with 495 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,483 $472,915,000 $318,891 $8,193 3.19%
15 Year 128 $33,910,000 $264,922 $5,573 2.53%
20 Year 75 $20,395,000 $271,933 $6,224 2.78%
Other 35 $8,725,000 $249,286 $6,888 2.86%
10 Year 8 $1,740,000 $217,500 $3,660 2.31%
30+ year 1 $865,000 $865,000 $15,978 5.38%

For the 2021, Residential Home Funding Corp.'s most frequently cited loan length of loans were 30 Year, with 1,483 originations. The 2nd most popular length of loans were 15 Year, with 128 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 766 $228,280,000 $298,016
$5k+ 345 $138,505,000 $401,464
$3k-4k 324 $86,680,000 $267,531
$2k-3k 201 $52,805,000 $262,711
$<1k 92 $31,280,000 $340,000

$8,193 of loans were Residential Home Funding Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 766 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 814 $256,340,000 $314,914
2.5-3% 632 $187,710,000 $297,009
<2.5% 199 $63,615,000 $319,673
4-5% 79 $27,825,000 $352,215
5-6% 4 $2,610,000 $652,500
6-7% 1 $265,000 $265,000
7-8% 1 $185,000 $185,000

During 2021, Residential Home Funding Corp.'s average interest rate of loans were 3.19%, while their most frequently originated rate bucket of loans were 3-4%, with 814 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 857 $248,475,000 $289,936 $7,400 3.10%
$100k-200k 449 $71,695,000 $159,677 $6,501 3.10%
$400k-600k 294 $142,530,000 $484,796 $9,528 3.07%
$600k-1MM 89 $62,235,000 $699,270 $14,080 3.43%
$100,000 or less 33 $2,745,000 $83,182 $4,731 3.31%
$1MM+ 8 $10,870,000 $1,358,750 $18,777 3.27%

2021 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 857 originations, totaling $248,475,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 416 $145,630,000 $350,072 $8,289 3.09%
$50k-75k 403 $89,465,000 $221,998 $7,623 3.13%
$75k-100k 333 $97,915,000 $294,039 $8,129 3.16%
$150k-250k 259 $107,515,000 $415,116 $7,463 3.08%
$50k or less 216 $44,310,000 $205,139 $7,463 3.11%
$250k+ 102 $53,170,000 $521,275 $8,212 3.17%

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

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 322 $99,170,000 $307,981 $6,862 3.06%
20-30% 262 $77,940,000 $297,481 $6,636 3.00%
50-60% 152 $42,240,000 $277,895 $11,445 3.15%
<20% 110 $36,230,000 $329,364 $6,632 3.04%
48% 81 $27,215,000 $335,988 $9,196 3.15%
44% 76 $23,380,000 $307,632 $7,146 3.31%
43% 72 $24,470,000 $339,861 $8,650 3.30%
42% 71 $24,815,000 $349,507 $9,101 3.11%
41% 64 $19,800,000 $309,375 $7,582 3.10%
38% 61 $18,065,000 $296,148 $7,874 3.19%
40% 58 $17,780,000 $306,552 $7,345 3.20%
49% 56 $17,270,000 $308,393 $8,169 3.14%
39% 54 $16,620,000 $307,778 $8,044 3.22%
47% 53 $16,205,000 $305,755 $8,359 3.15%
37% 52 $16,740,000 $321,923 $8,745 3.24%
45% 51 $16,915,000 $331,667 $8,677 3.17%
36% 50 $15,730,000 $314,600 $6,803 3.05%
46% 42 $12,650,000 $301,190 $7,934 3.10%
>60% 9 $4,515,000 $501,667 $14,419 3.89%

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

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,234 $384,630,000 $311,694 $7,510 3.10%
Black 339 $91,415,000 $269,661 $8,774 3.20%
Asian 141 $56,095,000 $397,837 $8,935 3.12%
American Indian 8 $3,170,000 $396,250 $9,185 3.09%
Not provided 5 $2,095,000 $419,000 $4,049 2.35%
Native Hawaiian 3 $1,145,000 $381,667 $7,676 3.08%

Approval Rates

Total approvals of all applications
95.66%

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 origination
51.21%

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

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,730 $538,550,000 $311,301

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 54 $12,850,000 $237,963 $6,064 2.89%
40-60% 203 $64,615,000 $318,300 $6,458 2.85%
60-80% 710 $225,660,000 $317,831 $7,362 3.14%
80-100% 754 $232,250,000 $308,024 $8,765 3.18%
Over 100% 8 $2,790,000 $348,750 $15,719 3.14%
Under 20% 1 $385,000 $385,000 $15,508 3.63%

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%