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, Aguadilla, Guayama, and Ponce 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% | 5/4/24 |
| 30 Year Conventional Refi | 6.44% | 5/4/24 |
| 30 Year Cash-out Refi | 7.10% | 5/4/24 |
| 30 Year FHA Purchase | 7.51% | 5/4/24 |
| 30 Year FHA Refi | 7.30% | 5/4/24 |
| 30 Year VA Purchase | 6.68% | 5/4/24 |
| 30 Year VA Refi | 6.31% | 5/4/24 |
| 30 Year USDA Purchase | 7.04% | 5/4/24 |
| 15 Year Conventional Purchase | 6.70% | 5/4/24 |
| 15 Year Conventional Refi | 6.76% | 5/4/24 |
| 15 Year Cash-out Refi | 6.76% | 5/4/24 |
| 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
362Origination Dollar Volume (All Markets)
$61,870,000Top 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) | 335 | $58,305,000 | $174,045 | $6,952 | 3.41% |
| Arecibo, PR (FHA|USDA|VA) | 14 | $1,700,000 | $121,429 | $5,068 | 3.15% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 7 | $1,165,000 | $166,429 | $6,977 | 3.05% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $4,952 | 3.44% |
| PONCE, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,154 | 3.50% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,920 | 3.50% |
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 2020, Rf Mortgage & Investment Corp's most frequently originated type of loan was FHA, with 133 originations. Their 2nd most popular type was Conventional, with 118 originations.
Loan Reason
For 2020, Rf Mortgage & Investment Corp's most frequently cited loan purpose was Home Purchase, with 328 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
For 2020, Rf Mortgage & Investment Corp's most frequently cited loan duration was 30 Year, with 343 originations. The 2nd most popular length was 15 Year, with 13 originations.
Origination Fees/Closing Costs
Rf Mortgage & Investment Corp's average total fees were $6,937, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 96 originations.
Interest Rates
During 2020, Rf Mortgage & Investment Corp's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 2.5-3%, with 210 originations.
Loan Sizing
2020 saw Rf Mortgage & Investment Corp place emphasis on $100k-200k loans with 174 originations, totaling $23,730,000 in origination value.
Applicant Income
Rf Mortgage & Investment Corp lent most frequently to those with incomes in the $50k or less range, with 199 originations. The second most popular income band? $50k-75k, with 68 originations.
Applicant Debt to Income Ratio
Rf Mortgage & Investment Corp lent most frequently to those with DTI ratios of 30-36%, with 78 originations. The next most common DTI ratio? 20-30%, with 72 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 354 | $60,920,000 | $172,090 | $6,883 | 3.38% |
| Black | 8 | $950,000 | $118,750 | $5,361 | 4.05% |
Approval Rates
Total approvals of all applications91.29%
Rf Mortgage & Investment Corp has an average approval rate.
Pick Rate
Approvals leading to origination84.53%
Rf Mortgage & Investment Corp has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 362 | $61,870,000 | $170,912 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 362 | $61,870,000 | $170,912 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RUOFF MORTGAGE | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| RUOFF MORTGAGE | FHA mortgage | Closing on a mortgage | 1 | 14.3% |
| RUOFF MORTGAGE | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| RUOFF MORTGAGE | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 42.9% |