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 and Refi loans. Residential Home Funding Corp. has a high proportion of conventional loans. They have a a high 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, Poughkeepsie, Washington, Allentown, and Miami among others. We have data for 64 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.10% | 12/16/24 |
| 30 Year Conventional Refi | 6.52% | 12/16/24 |
| 30 Year Cash-out Refi | 7.17% | 12/16/24 |
| 30 Year FHA Purchase | 7.56% | 12/16/24 |
| 30 Year FHA Refi | 6.11% | 12/16/24 |
| 30 Year VA Purchase | 6.29% | 12/16/24 |
| 30 Year USDA Purchase | 6.78% | 12/16/24 |
| 15 Year Conventional Purchase | 6.24% | 12/16/24 |
| 15 Year Conventional Refi | 6.17% | 12/16/24 |
| 15 Year Cash-out Refi | 6.17% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,761Origination Dollar Volume (All Markets)
$496,585,000Top 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) | 1,058 | $333,140,000 | $314,877 | $8,049 | 4.36% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 165 | $43,275,000 | $262,273 | $7,453 | 4.42% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 35 | $12,235,000 | $349,571 | $8,947 | 4.30% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 63 | $11,915,000 | $189,127 | $6,018 | 4.52% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 39 | $10,345,000 | $265,256 | $7,850 | 4.41% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 40 | $8,160,000 | $204,000 | $7,770 | 4.76% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 32 | $7,470,000 | $233,438 | $6,925 | 4.18% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 33 | $7,385,000 | $223,788 | $6,456 | 4.34% |
| PITTSBURGH, PA (FHA|USDA|VA) | 33 | $6,525,000 | $197,727 | $6,681 | 4.17% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 28 | $6,500,000 | $232,143 | $7,933 | 4.70% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 28 | $4,450,000 | $158,929 | $6,038 | 4.64% |
| Outside of Metro Areas | 24 | $4,250,000 | $177,083 | $5,449 | 4.53% |
| KINGSTON, NY (FHA|USDA|VA) | 16 | $3,820,000 | $238,750 | $5,722 | 4.63% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 12 | $3,210,000 | $267,500 | $6,609 | 4.36% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 10 | $3,150,000 | $315,000 | $9,963 | 3.95% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 14 | $2,180,000 | $155,714 | $5,370 | 4.54% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $2,080,000 | $260,000 | $6,296 | 4.28% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $2,045,000 | $227,222 | $6,846 | 4.29% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $1,910,000 | $191,000 | $6,211 | 4.49% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $6,304 | 4.34% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 10 | $1,830,000 | $183,000 | $5,348 | 4.46% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $1,545,000 | $309,000 | $7,795 | 4.98% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 8 | $1,370,000 | $171,250 | $6,322 | 4.36% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $6,709 | 4.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $8,079 | 4.21% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $5,546 | 3.54% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $5,108 | 4.58% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $8,261 | 4.54% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $4,887 | 4.92% |
| Torrington, CT (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $3,211 | 4.25% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $4,937 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $8,472 | 4.21% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,256 | 4.33% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $9,399 | 4.29% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $4,948 | 4.47% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $9,318 | 4.19% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $6,609 | 3.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,537 | 4.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,388 | 3.63% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,765 | 3.88% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $5,342 | 4.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,720 | 4.44% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,787 | 3.88% |
| Hudson, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,655 | 4.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,597 | 3.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,811 | 4.81% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,169 | 3.75% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,464 | 5.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,509 | 4.25% |
| Seneca, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,763 | 4.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,657 | 3.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,760 | 4.38% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,703 | 4.88% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,389 | 4.88% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,077 | 4.13% |
| DOVER, DE (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,954 | 5.13% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,207 | 4.25% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,180 | 3.88% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,544 | 4.63% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,259 | 4.75% |
| Union, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,819 | 5.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,752 | 3.38% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,403 | 4.38% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,517 | 4.63% |
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Product Mix
For 2019, Residential Home Funding Corp.'s most frequently originated type of loan was Conventional, with 974 originations. Their 2nd most popular type was FHA, with 669 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,324 | $358,460,000 | $270,740 | $7,817 | 4.49% |
| Refi | 437 | $138,125,000 | $316,076 | $6,898 | 4.09% |
For 2019, Residential Home Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 1,324 originations. The 2nd most popular reason was Refi, with 437 originations.
Loan Duration/Length
For 2019, Residential Home Funding Corp.'s most frequently cited loan duration was 30 Year, with 1,638 originations. The 2nd most popular length was 15 Year, with 62 originations.
Origination Fees/Closing Costs
Residential Home Funding Corp.'s average total fees were $7,765, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 951 originations.
Interest Rates
During 2019, Residential Home Funding Corp.'s average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 891 originations.
Loan Sizing
2019 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 961 originations, totaling $274,365,000 in origination value.
Applicant Income
Residential Home Funding Corp. lent most frequently to those with incomes in the $50k-75k range, with 427 originations. The second most popular income band? $100k-150k, with 417 originations.
Applicant Debt to Income Ratio
Residential Home Funding Corp. lent most frequently to those with DTI ratios of 30-36%, with 248 originations. The next most common DTI ratio? 50-60%, with 231 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.83%
Residential Home Funding Corp. has an average approval rate.
Pick Rate
Approvals leading to origination52.36%
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 | 1,761 | $496,585,000 | $281,990 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $175,000 | $175,000 |
| Single Family (1-4 Units):Site-Built | 1,760 | $496,410,000 | $282,051 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RESIDENTIAL HOME FUNDING CORP. | Conventional home mortgage | Closing on a mortgage | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | FHA mortgage | Closing on a mortgage | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | FHA mortgage | Trouble during payment process | 1 | 25.0% |
| RESIDENTIAL HOME FUNDING CORP. | Reverse mortgage | Trouble during payment process | 1 | 25.0% |