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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Poughkeepsie, Miami, Washington, and Pittsburgh among others. We have data for 80 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
2,171Origination Dollar Volume (All Markets)
$658,075,000Awards
RESIDENTIAL HOME FUNDING CORP. - 2020
RESIDENTIAL HOME FUNDING CORP. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,116 | $387,960,000 | $347,634 | $7,137 | 3.19% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 150 | $41,160,000 | $274,400 | $7,235 | 3.27% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 103 | $29,325,000 | $284,709 | $7,640 | 3.08% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 69 | $25,325,000 | $367,029 | $5,065 | 2.79% |
| PITTSBURGH, PA (FHA|USDA|VA) | 81 | $19,275,000 | $237,963 | $6,127 | 3.08% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 44 | $15,640,000 | $355,455 | $6,650 | 2.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 58 | $14,460,000 | $249,310 | $7,218 | 3.18% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 52 | $12,380,000 | $238,077 | $5,757 | 2.98% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 54 | $11,020,000 | $204,074 | $5,968 | 3.15% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 41 | $8,345,000 | $203,537 | $4,315 | 3.41% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 33 | $5,875,000 | $178,030 | $6,372 | 3.47% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 22 | $5,480,000 | $249,091 | $6,350 | 3.09% |
| COLUMBIA, SC (FHA|USDA|VA) | 23 | $5,345,000 | $232,391 | $4,991 | 3.22% |
| Outside of Metro Areas | 29 | $5,095,000 | $175,690 | $5,718 | 3.26% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 22 | $5,040,000 | $229,091 | $6,548 | 3.43% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 22 | $4,770,000 | $216,818 | $6,374 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 14 | $4,730,000 | $337,857 | $9,504 | 2.79% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 18 | $4,420,000 | $245,556 | $5,327 | 3.27% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 16 | $4,060,000 | $253,750 | $8,715 | 3.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 16 | $3,680,000 | $230,000 | $8,894 | 3.39% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 16 | $3,640,000 | $227,500 | $7,660 | 3.73% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 11 | $3,395,000 | $308,636 | $6,015 | 2.93% |
| KINGSTON, NY (FHA|USDA|VA) | 15 | $3,285,000 | $219,000 | $7,240 | 3.53% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 9 | $3,175,000 | $352,778 | $5,046 | 2.89% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 11 | $2,835,000 | $257,727 | $5,649 | 3.14% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 7 | $2,225,000 | $317,857 | $7,033 | 2.86% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 8 | $2,160,000 | $270,000 | $4,754 | 2.98% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 9 | $1,845,000 | $205,000 | $4,157 | 3.25% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $4,075 | 2.96% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $7,757 | 2.81% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $3,653 | 2.81% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $4,777 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $9,209 | 3.47% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 6 | $950,000 | $158,333 | $6,625 | 3.54% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $11,255 | 3.41% |
| Hudson, NY (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,569 | 3.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $6,955 | 3.22% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $3,882 | 2.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $9,407 | 2.67% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $4,501 | 3.47% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $5,917 | 2.92% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,448 | 2.81% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $4,970 | 3.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 4 | $460,000 | $115,000 | $5,670 | 4.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,215 | 2.81% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,986 | 3.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,469 | 2.75% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,919 | 2.50% |
| OCALA, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $6,040 | 3.06% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,774 | 3.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,570 | 2.63% |
| Indiana, PA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,128 | 3.56% |
| Malone, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,926 | 3.38% |
| Dublin, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,506 | 2.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,675 | 2.38% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,036 | 3.44% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,303 | 3.88% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,531 | 3.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $14,588 | 3.75% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,832 | 2.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,604 | 3.38% |
| READING, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,048 | 4.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,502 | 3.88% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,195 | 2.88% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $5,630 | 4.38% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,857 | 2.50% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,143 | 3.75% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,431 | 4.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $13,350 | 2.88% |
| Olean, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,681 | 4.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $9,377 | 2.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,625 | 3.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,118 | 3.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,882 | 4.25% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,310 | 3.63% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,933 | 2.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,235 | 3.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,436 | 2.38% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,712 | 3.25% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,215 | 3.88% |
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Product Mix
For 2020, Residential Home Funding Corp.'s most frequently originated type of loan was Conventional, with 1,636 originations. Their 2nd most popular type was FHA, with 438 originations.
Loan Reason
For 2020, Residential Home Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 1,143 originations. The 2nd most popular reason was Refi, with 945 originations.
Loan Duration/Length
For 2020, Residential Home Funding Corp.'s most frequently cited loan duration was 30 Year, with 1,856 originations. The 2nd most popular length was 15 Year, with 174 originations.
Origination Fees/Closing Costs
Residential Home Funding Corp.'s average total fees were $7,066, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,193 originations.
Interest Rates
During 2020, Residential Home Funding Corp.'s average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 929 originations.
Loan Sizing
2020 saw Residential Home Funding Corp. place emphasis on $200k-400k loans with 1,208 originations, totaling $354,770,000 in origination value.
Applicant Income
Residential Home Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 599 originations. The second most popular income band? $50k-75k, with 425 originations.
Applicant Debt to Income Ratio
Residential Home Funding Corp. lent most frequently to those with DTI ratios of 20-30%, with 392 originations. The next most common DTI ratio? 30-36%, with 372 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.55%
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 origination63.75%
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 | 2,171 | $658,075,000 | $303,121 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2,171 | $658,075,000 | $303,121 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RESIDENTIAL HOME FUNDING CORP. | FHA mortgage | Closing on a mortgage | 1 | 33.3% |
| RESIDENTIAL HOME FUNDING CORP. | FHA mortgage | Struggling to pay mortgage | 1 | 33.3% |
| RESIDENTIAL HOME FUNDING CORP. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |