Resource Financial Services Mortgage Rates, Fees & Info
COLUMBIA, SCLEI: 549300916KMYQ118CX89
Tax ID: 57-1102490
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Mortgage Data
Review & Overview
Resource Financial Services is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Columbia, Raleigh, Jacksonville, Sumter, and Greenville among others. We have data for 58 markets. (Some data included below & more in-depth data is available with an active subscription.)Resource Financial Services 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. Resource Financial Services 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 | 6.61% | 11/30/23 |
| 30 Year Conventional Refi | 6.74% | 11/30/23 |
| 30 Year Cash-out Refi | 6.88% | 11/30/23 |
| 30 Year FHA Purchase | 7.38% | 11/30/23 |
| 30 Year FHA Refi | 7.01% | 11/30/23 |
| 30 Year VA Purchase | 6.35% | 11/30/23 |
| 30 Year VA Refi | 5.80% | 11/30/23 |
| 30 Year USDA Purchase | 6.45% | 11/30/23 |
| 15 Year Conventional Purchase | 5.97% | 11/30/23 |
| 15 Year Conventional Refi | 5.97% | 11/30/23 |
| 15 Year Cash-out Refi | 5.97% | 11/30/23 |
| 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. | ||
Resource Financial Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,018Origination Dollar Volume (All Markets)
$282,960,000Awards
RESOURCE FINANCIAL SERVICES - 2022
RESOURCE FINANCIAL SERVICES is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Resource Financial Services's average 30 year fixed mortgage rate was
4.9%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
Resource Financial Services's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,250.
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 $4,750.
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 |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 309 | $78,315,000 | $253,447 | $6,238 | 4.92% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 98 | $35,510,000 | $362,347 | $4,592 | 4.59% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 89 | $29,215,000 | $328,258 | $6,841 | 4.63% |
| SUMTER, SC (FHA|USDA|VA) | 123 | $25,055,000 | $203,699 | $7,163 | 4.78% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 76 | $18,630,000 | $245,132 | $4,641 | 4.91% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 22 | $10,660,000 | $484,545 | $7,020 | 5.25% |
| WILMINGTON, NC (FHA|USDA|VA) | 32 | $10,250,000 | $320,313 | $5,085 | 4.45% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 26 | $7,210,000 | $277,308 | $9,718 | 4.64% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 24 | $7,050,000 | $293,750 | $6,932 | 5.04% |
| Outside of Metro Areas | 25 | $5,625,000 | $225,000 | $6,305 | 4.53% |
| SPARTANBURG, SC (FHA|USDA|VA) | 24 | $5,320,000 | $221,667 | $4,349 | 4.92% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 18 | $5,200,000 | $288,889 | $5,696 | 5.53% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 17 | $5,025,000 | $295,588 | $7,558 | 4.67% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 13 | $4,155,000 | $319,615 | $3,341 | 4.42% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 12 | $3,150,000 | $262,500 | $5,267 | 4.83% |
| Morehead City, NC (FHA|USDA|VA) | 5 | $3,115,000 | $623,000 | $9,463 | 4.20% |
| FLORENCE, SC (FHA|USDA|VA) | 11 | $2,545,000 | $231,364 | $6,802 | 5.33% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $2,175,000 | $725,000 | $9,824 | 5.13% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 8 | $1,750,000 | $218,750 | $5,728 | 5.36% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 6 | $1,540,000 | $256,667 | $6,408 | 4.31% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $6,808 | 4.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $3,736 | 5.13% |
| Forest City, NC (FHA|USDA|VA) | 4 | $1,240,000 | $310,000 | $4,496 | 5.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 5 | $1,015,000 | $203,000 | $6,672 | 7.53% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $3,074 | 4.28% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $7,930 | 5.83% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $6,283 | 4.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $6,750 | 3.25% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $6,948 | 4.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,016 | 6.88% |
| Greenwood, SC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $6,189 | 4.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $9,021 | 5.31% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $2,944 | 3.04% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $6,459 | 5.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $17,852 | 5.25% |
| BURLINGTON, NC (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $3,688 | 3.88% |
| Brevard, NC (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $13,569 | 7.13% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,970 | 6.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $11,155 | 4.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,831 | 5.63% |
| Newberry, SC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,474 | 5.19% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,806 | 4.38% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,434 | 5.38% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,261 | 5.19% |
| Orangeburg, SC (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,246 | 5.31% |
| Boone, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,308 | 3.25% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,184 | 4.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,767 | 3.50% |
| Somerset, KY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,054 | 4.00% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,261 | 2.38% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,792 | 3.50% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,663 | 7.13% |
| Gaffney, SC (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $7,207 | 6.44% |
| Picayune, MS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,736 | 4.25% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,133 | 3.13% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,463 | 4.88% |
| Palatka, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,167 | 3.25% |
| Sanford, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,384 | 6.62% |
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Product Mix
For 2022, Resource Financial Services's most frequently originated type of loan was Conventional, with 673 originations. Their 2nd most popular type was VA, with 186 originations.
Loan Reason
For 2022, Resource Financial Services's most frequently cited loan purpose was Home Purchase, with 861 originations. The 2nd most popular reason was Cash Out Refi, with 100 originations.
Loan Duration/Length
For 2022, Resource Financial Services's most frequently cited loan duration was 30 Year, with 956 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
Resource Financial Services's average total fees were $6,250, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 427 originations.
Interest Rates
During 2022, Resource Financial Services's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 5-6%, with 288 originations.
Loan Sizing
2022 saw Resource Financial Services place emphasis on $200k-400k loans with 502 originations, totaling $142,420,000 in origination value.
Applicant Income
Resource Financial Services lent most frequently to those with incomes in the $50k-75k range, with 283 originations. The second most popular income band? $100k-150k, with 193 originations.
Applicant Debt to Income Ratio
Resource Financial Services lent most frequently to those with DTI ratios of 30-36%, with 183 originations. The next most common DTI ratio? 20-30%, with 163 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.47%
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 origination63.06%
Resource Financial Services 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 | 1,018 | $282,960,000 | $277,957 |