Resource Financial Services Mortgage Rates, Fees & Info
COLUMBIA, SCLEI: 549300916KMYQ118CX89
Tax ID: 57-1102490
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Resource Financial Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Resource Financial Services 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 Columbia, Raleigh, Jacksonville, Greenville, and Sumter among others. Resource Financial Services 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. Resource Financial Services is typically an average fee lendor.Originations
2,324Origination Dollar Volume (All Markets)
$583,260,000Awards
RESOURCE FINANCIAL SERVICES - 2021
RESOURCE FINANCIAL SERVICES is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Resource Financial Services 's average 30 year fixed rate mortgage of loans were
3.01%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.14%.
Relative Fees
Resource Financial Services 's average total fees for a 30 year fixed rate
mortgage are $4,279.
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 |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 620 | $144,040,000 | $232,323 | $4,261 | 2.91% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 338 | $99,420,000 | $294,142 | $3,088 | 2.90% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 309 | $77,015,000 | $249,239 | $4,826 | 3.01% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 160 | $39,980,000 | $249,875 | $3,562 | 2.97% |
| SUMTER, SC (FHA|USDA|VA) | 161 | $30,205,000 | $187,609 | $5,038 | 3.02% |
| WILMINGTON, NC (FHA|USDA|VA) | 98 | $28,010,000 | $285,816 | $3,773 | 2.92% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 92 | $27,020,000 | $293,696 | $2,930 | 2.86% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 39 | $15,855,000 | $406,538 | $4,452 | 2.98% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 62 | $14,790,000 | $238,548 | $3,797 | 2.98% |
| SPARTANBURG, SC (FHA|USDA|VA) | 58 | $13,160,000 | $226,897 | $4,009 | 3.12% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 40 | $11,250,000 | $281,250 | $4,838 | 2.94% |
| Outside of Metro Areas | 38 | $9,450,000 | $248,684 | $4,305 | 3.04% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 18 | $6,450,000 | $358,333 | $4,722 | 3.13% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 23 | $5,205,000 | $226,304 | $4,752 | 3.10% |
| FLORENCE, SC (FHA|USDA|VA) | 24 | $4,570,000 | $190,417 | $4,373 | 3.13% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 15 | $3,095,000 | $206,333 | $4,110 | 3.04% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 12 | $2,870,000 | $239,167 | $5,135 | 2.65% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 14 | $2,840,000 | $202,857 | $3,258 | 2.84% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 11 | $2,545,000 | $231,364 | $4,395 | 2.82% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 8 | $2,420,000 | $302,500 | $3,690 | 2.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 10 | $2,280,000 | $228,000 | $4,523 | 3.09% |
| MOBILE, AL (FHA|USDA|VA) | 11 | $2,145,000 | $195,000 | $3,562 | 2.49% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $2,025,000 | $289,286 | $5,499 | 2.79% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $4,065 | 2.83% |
| Morehead City, NC (FHA|USDA|VA) | 8 | $1,500,000 | $187,500 | $3,220 | 2.64% |
| Boone, NC (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $3,346 | 2.73% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 7 | $1,405,000 | $200,714 | $3,274 | 3.00% |
| Forest City, NC (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $3,505 | 3.15% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $4,770 | 2.73% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $14,329 | 2.71% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $2,118 | 2.63% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $3,129 | 2.84% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $0 | 4.38% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $3,495 | 2.84% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $6,012 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $4,256 | 3.10% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $2,993 | 2.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $4,025 | 3.13% |
| Newberry, SC (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $4,024 | 3.17% |
| GREENVILLE, NC (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $2,874 | 2.88% |
| Gaffney, SC (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $4,979 | 2.63% |
| Seneca, SC (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,242 | 3.13% |
| Cullowhee, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,601 | 2.75% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,926 | 3.50% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $2,217 | 2.50% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $3,402 | 2.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $3,220 | 2.83% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $6,839 | 2.94% |
| Albemarle, NC (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $2,729 | 3.04% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,410 | 2.81% |
| BURLINGTON, NC (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $2,946 | 3.21% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $3,916 | 2.75% |
| Orangeburg, SC (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $3,675 | 2.78% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,673 | 2.75% |
| North Wilkesboro, NC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $4,148 | 2.79% |
| Palatka, FL (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $4,203 | 3.13% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,658 | 3.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,780 | 2.69% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,745 | 3.25% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,291 | 2.56% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,316 | 2.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $6,398 | 3.25% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,101 | 2.88% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,313 | 2.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,748 | 2.88% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,600 | 3.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,709 | 2.50% |
| Bennettsville, SC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,821 | 2.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,933 | 3.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,571 | 2.50% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,844 | 3.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,735 | 3.31% |
| Henderson, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,275 | 2.88% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,476 | 2.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,816 | 3.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,105 | 2.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,007 | 2.75% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,443 | 2.25% |
| Sanford, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,831 | 3.13% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,195 | 2.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,354 | 2.75% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,263 | 3.13% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,747 | 2.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,918 | 2.25% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,897 | 2.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,595 | 2.63% |
| Albertville, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,916 | 3.63% |
Resource Financial Services 's top markets include Columbia, Raleigh, Jacksonville, Greenville, and Sumter among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,765 | $445,905,000 | $252,637 | $3,335 | 2.97% |
| VA | 287 | $82,805,000 | $288,519 | $6,089 | 2.73% |
| FHA | 227 | $46,105,000 | $203,106 | $7,089 | 3.01% |
| USDA | 45 | $8,445,000 | $187,667 | $5,155 | 2.77% |
For the 2021 period, Resource Financial Services 's most frequently originated loan type of loans were Conventional, with 1,765 originations. Their 2nd most popular type is VA, with 287 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,249 | $321,535,000 | $257,434 | $4,875 | 3.03% |
| Refi | 826 | $201,820,000 | $244,334 | $3,019 | 2.75% |
| Cash Out Refi | 249 | $59,905,000 | $240,582 | $3,595 | 3.16% |
For the 2021, Resource Financial Services 's most frequently cited loan purpose of loans were Home Purchase, with 1,249 originations. The 2nd most popular reason of loans were Refi, with 826 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,984 | $513,270,000 | $258,705 | $4,279 | 3.01% |
| 15 Year | 229 | $46,345,000 | $202,380 | $2,953 | 2.50% |
| 20 Year | 68 | $16,900,000 | $248,529 | $3,018 | 2.70% |
| 10 Year | 28 | $3,680,000 | $131,429 | $1,710 | 2.30% |
| Other | 12 | $3,040,000 | $253,333 | $4,660 | 2.71% |
| 5 Year | 3 | $25,000 | $8,333 | $0 | 0.00% |
For the 2021, Resource Financial Services 's most frequently cited loan length of loans were 30 Year, with 1,984 originations. The 2nd most popular length of loans were 15 Year, with 229 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,339 | $323,475,000 | $241,580 |
| $<1k | 650 | $170,520,000 | $262,338 |
| $2k-3k | 186 | $41,620,000 | $223,763 |
| $3k-4k | 115 | $32,345,000 | $281,261 |
| $5k+ | 33 | $14,255,000 | $431,970 |
$4,279 of loans were Resource Financial Services 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,339 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,075 | $276,475,000 | $257,186 |
| 3-4% | 776 | $194,390,000 | $250,503 |
| <2.5% | 410 | $100,700,000 | $245,610 |
| 4-5% | 39 | $9,555,000 | $245,000 |
| 5-6% | 5 | $1,965,000 | $393,000 |
During 2021, Resource Financial Services 's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,075 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,124 | $311,200,000 | $276,868 | $4,253 | 2.93% |
| $100k-200k | 829 | $127,955,000 | $154,349 | $3,675 | 2.96% |
| $400k-600k | 236 | $111,480,000 | $472,373 | $4,889 | 2.93% |
| $100,000 or less | 105 | $7,065,000 | $67,286 | $2,460 | 2.82% |
| $600k-1MM | 21 | $14,695,000 | $699,762 | $8,736 | 3.20% |
| $1MM+ | 9 | $10,865,000 | $1,207,222 | $6,057 | 3.32% |
2021 saw Resource Financial Services place emphasis on $200k-400k loans with 1,124 originations, totaling $311,200,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 567 | $117,325,000 | $206,922 | $4,347 | 2.96% |
| $100k-150k | 482 | $135,040,000 | $280,166 | $4,020 | 2.95% |
| $50k or less | 462 | $80,880,000 | $175,065 | $3,742 | 2.87% |
| $75k-100k | 366 | $91,470,000 | $249,918 | $4,222 | 2.94% |
| $150k-250k | 307 | $97,685,000 | $318,192 | $3,978 | 2.97% |
| $250k+ | 138 | $60,120,000 | $435,652 | $4,143 | 3.06% |
Resource Financial Services lent most frequently to those with incomes in the $50k-75k range, with 567 originations. The second most popular income band? $100k-150k, with 482 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 533 | $135,405,000 | $254,043 | $3,820 | 2.90% |
| 30-36% | 400 | $96,620,000 | $241,550 | $4,051 | 2.94% |
| <20% | 229 | $57,355,000 | $250,459 | $3,408 | 2.80% |
| 39% | 94 | $24,000,000 | $255,319 | $4,238 | 3.02% |
| 42% | 93 | $21,855,000 | $235,000 | $4,117 | 3.00% |
| 40% | 89 | $21,755,000 | $244,438 | $4,132 | 3.11% |
| 36% | 86 | $23,640,000 | $274,884 | $4,408 | 2.92% |
| 44% | 84 | $18,810,000 | $223,929 | $4,079 | 3.06% |
| 41% | 80 | $19,850,000 | $248,125 | $4,055 | 3.13% |
| 38% | 77 | $19,025,000 | $247,078 | $4,420 | 2.94% |
| 43% | 72 | $18,990,000 | $263,750 | $4,757 | 3.09% |
| 37% | 71 | $19,375,000 | $272,887 | $4,583 | 2.93% |
| 50-60% | 65 | $16,175,000 | $248,846 | $7,680 | 2.86% |
| 49% | 62 | $15,370,000 | $247,903 | $4,135 | 3.16% |
| 46% | 58 | $15,220,000 | $262,414 | $4,542 | 2.95% |
| 45% | 55 | $14,755,000 | $268,273 | $4,096 | 3.08% |
| 47% | 50 | $12,750,000 | $255,000 | $4,404 | 3.11% |
| 48% | 48 | $11,830,000 | $246,458 | $3,729 | 3.01% |
| >60% | 2 | $220,000 | $110,000 | $3,152 | 2.63% |
Resource Financial Services lent most frequently to those with DTI ratios of 20-30%, with 533 originations. The next most common DTI ratio? 30-36%, with 400 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,640 | $416,850,000 | $254,177 | $4,054 | 2.93% |
| Asian | 247 | $64,115,000 | $259,575 | $2,900 | 2.96% |
| Not provided | 198 | $49,060,000 | $247,778 | $4,433 | 3.01% |
| Black | 199 | $43,775,000 | $219,975 | $5,320 | 2.99% |
| American Indian | 20 | $4,870,000 | $243,500 | $4,575 | 2.90% |
| Asian Indian | 9 | $2,395,000 | $266,111 | $4,071 | 3.22% |
| Not applicable | 4 | $680,000 | $170,000 | $2,464 | 2.67% |
| Chinese | 2 | $560,000 | $280,000 | $2,276 | 2.63% |
| Other Asian | 3 | $525,000 | $175,000 | $5,059 | 2.08% |
| Native Hawaiian | 1 | $215,000 | $215,000 | $7,782 | 2.25% |
| Guamanian | 1 | $215,000 | $215,000 | $7,838 | 2.50% |
Approval Rates
Total approvals of all applications97.30%
Resource Financial Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.09%
Resource Financial Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,324 | $583,260,000 | $250,972 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,324 | $583,260,000 | $250,972 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 68 | $12,100,000 | $177,941 | $2,914 | 2.63% |
| 40-60% | 295 | $66,245,000 | $224,559 | $2,887 | 2.75% |
| 60-80% | 878 | $230,330,000 | $262,335 | $3,418 | 3.01% |
| 80-100% | 995 | $254,895,000 | $256,176 | $4,745 | 2.98% |
| Over 100% | 61 | $19,195,000 | $314,672 | $11,408 | 2.77% |
| Under 20% | 27 | $495,000 | $18,333 | $329 | 1.44% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RESOURCE PRO | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
