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, Aguadilla, Ponce, Arecibo, and Guayama among others. We have data for 6 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 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 | 7.58% | 11/21/24 |
| 30 Year Conventional Refi | 6.44% | 11/21/24 |
| 30 Year Cash-out Refi | 7.10% | 11/21/24 |
| 30 Year FHA Purchase | 7.51% | 11/21/24 |
| 30 Year FHA Refi | 7.30% | 11/21/24 |
| 30 Year VA Purchase | 6.68% | 11/21/24 |
| 30 Year VA Refi | 6.31% | 11/21/24 |
| 30 Year USDA Purchase | 7.04% | 11/21/24 |
| 15 Year Conventional Purchase | 6.70% | 11/21/24 |
| 15 Year Conventional Refi | 6.76% | 11/21/24 |
| 15 Year Cash-out Refi | 6.76% | 11/21/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
355Origination Dollar Volume (All Markets)
$58,555,000Top 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) | 331 | $55,805,000 | $168,595 | $7,371 | 4.69% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 8 | $1,100,000 | $137,500 | $6,006 | 4.00% |
| PONCE, PR (FHA|USDA|VA) | 6 | $680,000 | $113,333 | $5,356 | 5.04% |
| Arecibo, PR (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $5,454 | 4.30% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $3,529 | 5.66% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,767 | 4.50% |
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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Product Mix
For 2019, Rf Mortgage & Investment Corp's most frequently originated type of loan was FHA, with 150 originations. Their 2nd most popular type was Conventional, with 140 originations.
Loan Reason
For 2019, Rf Mortgage & Investment Corp's most frequently cited loan purpose was Home Purchase, with 328 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.
Loan Duration/Length
For 2019, Rf Mortgage & Investment Corp's most frequently cited loan duration was 30 Year, with 339 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Rf Mortgage & Investment Corp's average total fees were $7,038, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 96 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 145 | $21,485,000 | $148,172 |
| 3-4% | 108 | $16,690,000 | $154,537 |
| 5-6% | 65 | $15,055,000 | $231,615 |
| 6-7% | 32 | $4,290,000 | $134,063 |
| 2.5-3% | 5 | $1,035,000 | $207,000 |
During 2019, Rf Mortgage & Investment Corp's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 145 originations.
Loan Sizing
2019 saw Rf Mortgage & Investment Corp place emphasis on $100k-200k loans with 172 originations, totaling $24,470,000 in origination value.
Applicant Income
Rf Mortgage & Investment Corp lent most frequently to those with incomes in the $50k or less range, with 180 originations. The second most popular income band? $50k-75k, with 65 originations.
Applicant Debt to Income Ratio
Rf Mortgage & Investment Corp lent most frequently to those with DTI ratios of 30-36%, with 67 originations. The next most common DTI ratio? 20-30%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.00%
Rf Mortgage & Investment Corp has an average approval rate.
Pick Rate
Approvals leading to origination88.73%
Rf Mortgage & Investment Corp has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 355 | $58,555,000 | $164,944 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 355 | $58,555,000 | $164,944 |