Residential Home Funding Corp. Mortgage Rates, Fees & Info
WHITE PLAINS, NYLEI: 5493005XCKCOIX4JMI33
Tax ID: 11-3578006
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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. Their top markets by origination volume include: New York, Washington, East Stroudsburg, Miami, and Philadelphia among others. We have data for 63 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 relatively high 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 | 7.10% | 4/24/24 |
| 30 Year Conventional Refi | 6.52% | 4/24/24 |
| 30 Year Cash-out Refi | 7.17% | 4/24/24 |
| 30 Year FHA Purchase | 7.56% | 4/24/24 |
| 30 Year FHA Refi | 6.11% | 4/24/24 |
| 30 Year VA Purchase | 6.29% | 4/24/24 |
| 30 Year USDA Purchase | 6.78% | 4/24/24 |
| 15 Year Conventional Purchase | 6.24% | 4/24/24 |
| 15 Year Conventional Refi | 6.17% | 4/24/24 |
| 15 Year Cash-out Refi | 6.17% | 4/24/24 |
| 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
305Origination Dollar Volume (All Markets)
$120,565,000Awards
RESIDENTIAL HOME FUNDING CORP. - 2023
RESIDENTIAL HOME FUNDING CORP. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Residential Home Funding Corp.'s average 30 year fixed mortgage rate was
6.95%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.47%.
Relative Fees (Closing Costs)
Residential Home Funding Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $12,261.
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 $9,089.
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) | 138 | $63,660,000 | $461,304 | $14,560 | 7.12% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $5,795,000 | $643,889 | $18,735 | 6.24% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 12 | $3,420,000 | $285,000 | $10,544 | 7.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $3,410,000 | $426,250 | $14,894 | 8.03% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 11 | $3,065,000 | $278,636 | $10,244 | 7.45% |
| SAVANNAH, GA (FHA|USDA|VA) | 9 | $2,595,000 | $288,333 | $9,228 | 6.49% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $2,515,000 | $503,000 | $12,325 | 6.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 7 | $2,125,000 | $303,571 | $6,763 | 6.75% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 7 | $2,055,000 | $293,571 | $12,396 | 7.23% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,910,000 | $318,333 | $15,633 | 6.71% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 4 | $1,820,000 | $455,000 | $18,933 | 6.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,820,000 | $455,000 | $12,091 | 5.53% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 4 | $1,690,000 | $422,500 | $9,757 | 7.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,615,000 | $323,000 | $3,241 | 6.20% |
| Outside of Metro Areas | 5 | $1,375,000 | $275,000 | $5,482 | 6.45% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $7,238 | 7.03% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $9,657 | 5.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $9,662 | 5.96% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $10,046 | 7.37% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $11,766 | 6.96% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $23,085 | 8.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $9,476 | 6.87% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $6,419 | 5.68% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $9,689 | 5.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $7,523 | 8.44% |
| Aberdeen, WA (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $0 | 7.92% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $11,680 | 7.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,538 | 7.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $16,869 | 5.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $19,854 | 4.75% |
| WACO, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,411 | 7.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,342 | 6.25% |
| GLENS FALLS, NY (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $11,667 | 6.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $7,559 | 7.63% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,192 | 5.38% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $21,019 | 5.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,514 | 6.13% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,790 | 5.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $12,446 | 6.44% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $750 | 5.25% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $12,242 | 6.75% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,345 | 5.99% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,261 | 7.63% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $9,418 | 6.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,831 | 6.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,013 | 5.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $14,440 | 6.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,493 | 7.50% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,116 | 7.63% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,103 | 5.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,557 | 6.62% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,787 | 7.38% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,624 | 7.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 9.50% |
| Torrington, CT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,104 | 6.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,828 | 7.50% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,909 | 5.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,237 | 6.38% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,313 | 7.75% |
| Seneca, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,537 | 6.88% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,809 | 6.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,055 | 7.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,140 | 6.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against RESIDENTIAL HOME FUNDING CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Residential Home Funding Corp.'s most frequently originated type of loan was Conventional, with 197 originations. Their 2nd most popular type was FHA, with 65 originations.
Loan Reason
For 2023, Residential Home Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 269 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
For 2023, Residential Home Funding Corp.'s most frequently cited loan duration was 30 Year, with 303 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Residential Home Funding Corp.'s average total fees were $12,261, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 145 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 131 | $49,405,000 | $377,137 |
| 7-8% | 85 | $31,435,000 | $369,824 |
| 5-6% | 50 | $21,990,000 | $439,800 |
| Over 8% | 35 | $15,935,000 | $455,286 |
| 4-5% | 4 | $1,800,000 | $450,000 |
During 2023, Residential Home Funding Corp.'s average interest rate for loans was 6.95%, while their most frequently originated rate bucket for loans was 6-7%, with 131 originations.
Loan Sizing
2023 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 140 originations, totaling $41,320,000 in origination value.
Applicant Income
Residential Home Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 79 originations. The second most popular income band? $150k-250k, with 78 originations.
Applicant Debt to Income Ratio
Residential Home Funding Corp. lent most frequently to those with DTI ratios of 50-60%, with 42 originations. The next most common DTI ratio? 20-30%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.18%
Residential Home Funding Corp. has an average approval rate.
Pick Rate
Approvals leading to origination14.75%
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 | 305 | $120,565,000 | $395,295 |