Residential Home Funding Corp. Mortgage Rates, Fees & Info

WHITE PLAINS, NY

LEI: 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.10% 3/28/24
30 Year Conventional Refi 6.52% 3/28/24
30 Year Cash-out Refi 7.17% 3/28/24
30 Year FHA Purchase 7.56% 3/28/24
30 Year FHA Refi 6.11% 3/28/24
30 Year VA Purchase 6.29% 3/28/24
30 Year USDA Purchase 6.78% 3/28/24
15 Year Conventional Purchase 6.24% 3/28/24
15 Year Conventional Refi 6.17% 3/28/24
15 Year Cash-out Refi 6.17% 3/28/24
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

1,761

Origination Dollar Volume (All Markets)

$496,585,000

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) 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%
Residential Home Funding Corp.'s top markets include New York, Poughkeepsie, Washington, Allentown, and Miami among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 974 $280,330,000 $287,813 $5,588 4.39%
    FHA 669 $185,435,000 $277,182 $10,494 4.44%
    VA 78 $23,760,000 $304,615 $8,111 4.17%
    USDA 26 $4,830,000 $185,769 $6,570 4.42%
    FHA 14 $2,230,000 $159,286 $0 2.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,638 $461,100,000 $281,502 $7,765 4.44%
    15 Year 62 $14,960,000 $241,290 $4,597 3.89%
    20 Year 35 $14,745,000 $421,286 $5,151 3.81%
    Other 22 $4,810,000 $218,636 $8,564 3.10%
    10 Year 4 $970,000 $242,500 $3,690 3.16%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 951 $265,015,000 $278,670
    $2k-3k 247 $60,705,000 $245,769
    $5k+ 161 $62,785,000 $389,969
    $3k-4k 153 $38,095,000 $248,987
    $<1k 141 $40,895,000 $290,035
    $4k-5k 94 $26,860,000 $285,745

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 891 $244,145,000 $274,012
    3-4% 565 $177,235,000 $313,690
    5-6% 274 $68,390,000 $249,599
    2.5-3% 17 $3,535,000 $207,941
    <2.5% 5 $1,025,000 $205,000
    6-7% 5 $1,395,000 $279,000
    7-8% 2 $430,000 $215,000
    Over 8% 2 $430,000 $215,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 961 $274,365,000 $285,499 $7,807 4.34%
    $100k-200k 466 $73,200,000 $157,082 $5,746 4.55%
    $400k-600k 232 $109,650,000 $472,629 $10,276 4.26%
    $100,000 or less 54 $4,430,000 $82,037 $4,388 4.50%
    $600k-1MM 46 $32,320,000 $702,609 $11,582 4.19%
    $1MM+ 2 $2,620,000 $1,310,000 $7,524 3.94%

    2019 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 961 originations, totaling $274,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 427 $89,205,000 $208,911 $7,041 4.46%
    $100k-150k 417 $135,935,000 $325,983 $8,710 4.37%
    $75k-100k 377 $103,165,000 $273,647 $8,013 4.48%
    $150k-250k 227 $85,815,000 $378,040 $7,460 4.36%
    $50k or less 225 $41,595,000 $184,867 $6,383 4.26%
    $250k+ 87 $40,435,000 $464,770 $6,386 4.15%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 248 $69,550,000 $280,444 $6,453 4.33%
    50-60% 231 $65,335,000 $282,835 $10,950 4.44%
    20-30% 189 $56,515,000 $299,021 $5,793 4.28%
    49% 99 $28,235,000 $285,202 $7,846 4.39%
    43% 91 $25,055,000 $275,330 $7,702 4.52%
    40% 83 $21,395,000 $257,771 $6,828 4.44%
    46% 80 $22,550,000 $281,875 $8,628 4.51%
    44% 79 $20,405,000 $258,291 $7,633 4.41%
    48% 68 $19,110,000 $281,029 $7,895 4.49%
    45% 68 $20,430,000 $300,441 $8,140 4.56%
    39% 67 $17,115,000 $255,448 $7,079 4.58%
    42% 64 $17,810,000 $278,281 $6,783 4.40%
    41% 63 $18,215,000 $289,127 $7,401 4.51%
    37% 61 $16,495,000 $270,410 $6,869 4.37%
    38% 59 $17,415,000 $295,169 $7,311 4.43%
    47% 59 $16,465,000 $279,068 $7,818 4.44%
    <20% 39 $9,915,000 $254,231 $5,040 4.28%
    36% 39 $12,505,000 $320,641 $6,842 4.47%
    >60% 25 $6,655,000 $266,200 $9,388 3.67%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,373 $384,925,000 $280,353 $7,264 4.37%
    Black 229 $61,895,000 $270,284 $9,192 4.61%
    Asian 84 $28,860,000 $343,571 $8,319 4.29%
    Not provided 64 $18,280,000 $285,625 $8,292 4.15%
    American Indian 9 $2,125,000 $236,111 $6,586 4.58%
    Native Hawaiian or Islander 2 $500,000 $250,000 $5,550 4.31%

    Approval Rates

    Total approvals of all applications
    94.83%

    Residential Home Funding Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    52.36%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,735,000 $175,370 $5,409 4.01%
    40-60% 95 $25,755,000 $271,105 $5,383 4.09%
    60-80% 391 $118,555,000 $303,210 $6,112 4.38%
    80-100% 1,207 $335,655,000 $278,090 $8,180 4.42%
    Over 100% 37 $11,425,000 $308,784 $10,853 4.51%
    Under 20% 4 $460,000 $115,000 $4,904 3.06%

    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%