Resource Financial Services Mortgage Rates, Fees & Info

COLUMBIA, SC

LEI: 549300916KMYQ118CX89

Tax ID: 57-1102490

5 stars - out of 5 stars, based on 48 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

2,324

Origination Dollar Volume (All Markets)

$583,260,000
Show all (8) awards

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 applications
97.30%

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 origination
74.09%

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%