Redwood Residential Acquisition Corporation Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300F6Y1YO2YXN6135
Tax ID: 27-1438405
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Mortgage Data
Review & Overview
Redwood Residential Acquisition Corporation is a smaller mortgage company specializing in Home Purchase loans. Redwood Residential Acquisition Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Seattle, San Diego, Tampa, and Austin among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)Redwood Residential Acquisition Corporation has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Redwood Residential Acquisition Corporation 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 | 6.58% | 11/17/24 |
| 30 Year Conventional Refi | 6.55% | 11/17/24 |
| 30 Year Cash-out Refi | 6.50% | 11/17/24 |
| 15 Year Conventional Purchase | 6.29% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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. | ||
Redwood Residential Acquisition Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Redwood Residential Acquisition Corporation. 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
59Origination Dollar Volume (All Markets)
$67,525,000Relative Rate
Redwood Residential Acquisition Corporation's average 30 year fixed mortgage rate was
7.38%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.9%.
Relative Fees (Closing Costs)
Redwood Residential Acquisition Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $14,911.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $6,010,000 | $1,502,500 | $23,609 | 7.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 5 | $5,075,000 | $1,015,000 | $9,550 | 7.30% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $4,645,000 | $1,548,333 | $15,929 | 7.42% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $3,385,000 | $1,128,333 | $20,524 | 7.71% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $3,285,000 | $1,095,000 | $20,105 | 7.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $3,185,000 | $1,061,667 | $18,935 | 6.92% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $2,680,000 | $1,340,000 | $8,425 | 7.63% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $2,020,000 | $1,010,000 | $15,524 | 7.25% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $19,344 | 8.50% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $1,930,000 | $965,000 | $11,162 | 7.38% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,890,000 | $945,000 | $20,165 | 7.94% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $1,610,000 | $805,000 | $10,594 | 6.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $1,605,000 | $1,605,000 | $34,017 | 7.13% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $1,545,000 | $1,545,000 | $37,601 | 7.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $23,784 | 7.00% |
| BEND, OR (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $5,217 | 8.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,495,000 | $1,495,000 | $7,937 | 7.13% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $7,676 | 7.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $1,295,000 | $1,295,000 | $5,849 | 7.25% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $5,774 | 7.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $8,190 | 7.50% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $1,135,000 | $1,135,000 | $6,778 | 7.13% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $19,219 | 7.63% |
| Outside of Metro Areas | 1 | $1,055,000 | $1,055,000 | $4,661 | 7.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $4,840 | 7.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $16,001 | 7.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $1,025,000 | $1,025,000 | $9,999 | 7.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $20,765 | 6.88% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $14,563 | 8.63% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $24,834 | 8.00% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $12,314 | 7.50% |
| Angola, IN (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $4,367 | 7.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $8,887 | 7.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $5,391 | 7.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $19,512 | 7.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $27,821 | 6.38% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $5,629 | 6.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $11,905 | 7.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $6,460 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against REDWOOD RESIDENTIAL ACQUISITION CORPORATION 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 59 | $67,525,000 | $1,144,492 | $14,911 | 7.38% |
For 2023, Redwood Residential Acquisition Corporation's most frequently originated type of loan was Conventional, with 59 originations.
Loan Reason
For 2023, Redwood Residential Acquisition Corporation's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 59 | $67,525,000 | $1,144,492 | $14,911 | 7.38% |
For 2023, Redwood Residential Acquisition Corporation's most frequently cited loan duration was 30 Year, with 59 originations.
Origination Fees/Closing Costs
Redwood Residential Acquisition Corporation's average total fees were $14,911, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 35 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 42 | $48,460,000 | $1,153,810 |
| 6-7% | 14 | $14,990,000 | $1,070,714 |
| Over 8% | 3 | $4,075,000 | $1,358,333 |
During 2023, Redwood Residential Acquisition Corporation's average interest rate for loans was 7.38%, while their most frequently originated rate bucket for loans was 7-8%, with 42 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 37 | $48,095,000 | $1,299,865 | $16,181 | 7.43% |
| $600k-1MM | 22 | $19,430,000 | $883,182 | $12,775 | 7.30% |
2023 saw Redwood Residential Acquisition Corporation place emphasis on $1MM+ loans with 37 originations, totaling $48,095,000 in origination value.
Applicant Income
Redwood Residential Acquisition Corporation lent most frequently to those with incomes in the $250k+ range, with 54 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
Redwood Residential Acquisition Corporation lent most frequently to those with DTI ratios of >60%, with 42 originations. The next most common DTI ratio? 50-60%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.88%
Redwood Residential Acquisition Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.22%
Redwood Residential Acquisition Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 59 | $67,525,000 | $1,144,492 |