Rf Mortgage & Investment Corp Rates, Fees & Info
San Juan,LEI: 549300EEBMJ68MB8P551
Tax ID: 66-0356747
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Mortgage Data
Review & Overview
Rf Mortgage & Investment Corp is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Rf Mortgage & Investment Corp has a high proportion of conventional loans. Their top markets by origination volume include: San Juan, Arecibo, San GermÁn, Guayama, and Ponce among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Rf Mortgage & Investment 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. Rf Mortgage & Investment Corp is typically a high 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 relatively high 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 | 7.58% | 12/16/24 |
| 30 Year Conventional Refi | 6.44% | 12/16/24 |
| 30 Year Cash-out Refi | 7.10% | 12/16/24 |
| 30 Year FHA Purchase | 7.51% | 12/16/24 |
| 30 Year FHA Refi | 7.30% | 12/16/24 |
| 30 Year VA Purchase | 6.68% | 12/16/24 |
| 30 Year VA Refi | 6.31% | 12/16/24 |
| 30 Year USDA Purchase | 7.04% | 12/16/24 |
| 15 Year Conventional Purchase | 6.70% | 12/16/24 |
| 15 Year Conventional Refi | 6.76% | 12/16/24 |
| 15 Year Cash-out Refi | 6.76% | 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. | ||
Rf Mortgage & Investment Corp Mortgage Calculator
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This is not an official calculator from Rf Mortgage & Investment Corp. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
283Origination Dollar Volume (All Markets)
$47,915,000Relative Rate
Rf Mortgage & Investment Corp's average 30 year fixed mortgage rate was
6.79%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.31%.
Relative Fees (Closing Costs)
Rf Mortgage & Investment Corp's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,700.
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 $9,089.
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 |
|---|---|---|---|---|---|
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 255 | $42,555,000 | $166,882 | $10,681 | 6.77% |
| Outside of Metro Areas | 11 | $3,505,000 | $318,636 | $12,920 | 6.76% |
| Arecibo, PR (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $11,870 | 6.25% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $9,983 | 7.25% |
| GUAYAMA, PR (FHA|USDA|VA) | 5 | $425,000 | $85,000 | $7,427 | 7.15% |
| PONCE, PR (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $8,193 | 6.83% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,442 | 7.38% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,955 | 6.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Rf Mortgage & Investment Corp based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Similarity Rank: 128
Product Mix
For 2023, Rf Mortgage & Investment Corp's most frequently originated type of loan was FHA, with 129 originations. Their 2nd most popular type was Conventional, with 118 originations.
Loan Reason
For 2023, Rf Mortgage & Investment Corp's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
For 2023, Rf Mortgage & Investment Corp's most frequently cited loan duration was 30 Year, with 275 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
Rf Mortgage & Investment Corp's average total fees were $10,700, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 153 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 173 | $30,485,000 | $176,214 |
| 7-8% | 77 | $12,435,000 | $161,494 |
| 5-6% | 29 | $4,475,000 | $154,310 |
| Over 8% | 4 | $520,000 | $130,000 |
During 2023, Rf Mortgage & Investment Corp's average interest rate for loans was 6.79%, while their most frequently originated rate bucket for loans was 6-7%, with 173 originations.
Loan Sizing
2023 saw Rf Mortgage & Investment Corp place emphasis on $100k-200k loans with 128 originations, totaling $17,250,000 in origination value.
Applicant Income
Rf Mortgage & Investment Corp lent most frequently to those with incomes in the $50k or less range, with 130 originations. The second most popular income band? $50k-75k, with 53 originations.
Applicant Debt to Income Ratio
Rf Mortgage & Investment Corp lent most frequently to those with DTI ratios of 30-36%, with 49 originations. The next most common DTI ratio? 20-30%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.00%
Rf Mortgage & Investment Corp has an average approval rate.
Pick Rate
Approvals leading to origination87.99%
Rf Mortgage & Investment Corp has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 283 | $47,915,000 | $169,311 |