Resource Financial Services Mortgage Rates, Fees & Info

COLUMBIA, SC

LEI: 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 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 by origination volume include: Columbia, Raleigh, Jacksonville, Greenville, and Sumter among others. We have data for 87 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 a low 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 6.61% 12/16/24
30 Year Conventional Refi 6.74% 12/16/24
30 Year Cash-out Refi 6.88% 12/16/24
30 Year FHA Purchase 7.38% 12/16/24
30 Year FHA Refi 7.01% 12/16/24
30 Year VA Purchase 6.35% 12/16/24
30 Year VA Refi 5.80% 12/16/24
30 Year USDA Purchase 6.45% 12/16/24
15 Year Conventional Purchase 5.97% 12/16/24
15 Year Conventional Refi 5.97% 12/16/24
15 Year Cash-out Refi 5.97% 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.

Resource Financial Services Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Resource Financial Services. 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

2,324

Origination Dollar Volume (All Markets)

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

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) 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.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against RESOURCE FINANCIAL SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    S. C. STATE FEDERAL CREDIT UNION
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    CAROLINA TRUST FEDERAL CREDIT UNION
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    Similarity Rank: 1365
    Security Federal Bank
    Similarity Rank: 1386

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Resource Financial Services's most frequently originated type of loan was Conventional, with 1,765 originations. Their 2nd most popular type was VA, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Resource Financial Services's most frequently cited loan purpose was Home Purchase, with 1,249 originations. The 2nd most popular reason was 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 2021, Resource Financial Services's most frequently cited loan duration was 30 Year, with 1,984 originations. The 2nd most popular length was 15 Year, with 229 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 90 $24,740,000 $274,889
    $5k+ 33 $14,255,000 $431,970
    $4k-5k 25 $7,605,000 $304,200

    Resource Financial Services's average total fees were $4,279, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.01%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    97.56%

    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
    74.35%

    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%