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 and Cash Out Refi loans. Redwood Residential Acquisition Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Austin, San Francisco, Dallas, and Los Angeles among others. We have data for 86 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 a below 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 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 | 6.58% | 9/25/23 |
| 30 Year Conventional Refi | 6.55% | 9/25/23 |
| 30 Year Cash-out Refi | 6.50% | 9/25/23 |
| 15 Year Conventional Purchase | 6.29% | 9/25/23 |
| 15 Year Conventional Refi | 5.68% | 9/25/23 |
| 15 Year Cash-out Refi | 5.68% | 9/25/23 |
| 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™
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
276Origination Dollar Volume (All Markets)
$282,140,000Awards
REDWOOD RESIDENTIAL ACQUISITION CORPORATION - 2022
REDWOOD RESIDENTIAL ACQUISITION CORPORATION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Redwood Residential Acquisition Corporation's average 30 year fixed mortgage rate was
4.36%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.4%.
Relative Fees (Closing Costs)
Redwood Residential Acquisition Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $12,074.
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 $4,750.
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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 21 | $24,225,000 | $1,153,571 | $13,298 | 4.31% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 20 | $20,050,000 | $1,002,500 | $14,430 | 4.20% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 15 | $18,965,000 | $1,264,333 | $13,798 | 4.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $14,505,000 | $967,000 | $13,694 | 4.34% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 13 | $13,515,000 | $1,039,615 | $12,058 | 4.12% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 10 | $12,880,000 | $1,288,000 | $7,752 | 4.59% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 13 | $12,795,000 | $984,231 | $13,739 | 3.92% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 8 | $8,590,000 | $1,073,750 | $21,029 | 4.58% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 8 | $8,450,000 | $1,056,250 | $11,799 | 4.73% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 8 | $7,750,000 | $968,750 | $8,699 | 4.30% |
| Outside of Metro Areas | 9 | $7,205,000 | $800,556 | $14,326 | 5.31% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $6,050,000 | $1,008,333 | $10,608 | 4.40% |
| BEND, OR (FHA|USDA|VA) | 6 | $5,720,000 | $953,333 | $10,182 | 4.94% |
| BOULDER, CO (FHA|USDA|VA) | 5 | $5,245,000 | $1,049,000 | $4,787 | 3.83% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $4,965,000 | $1,655,000 | $26,453 | 3.67% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $4,915,000 | $983,000 | $8,164 | 4.68% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $4,340,000 | $1,085,000 | $15,574 | 4.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $4,250,000 | $1,062,500 | $11,536 | 4.81% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $4,045,000 | $809,000 | $7,598 | 3.55% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $3,685,000 | $1,228,333 | $10,756 | 4.92% |
| NAPA, CA (FHA|USDA|VA) | 2 | $3,600,000 | $1,800,000 | $11,263 | 3.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $3,460,000 | $865,000 | $14,924 | 4.31% |
| Heber, UT (FHA|USDA|VA) | 3 | $3,425,000 | $1,141,667 | $7,560 | 5.21% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $3,185,000 | $1,061,667 | $5,442 | 4.58% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 3 | $3,015,000 | $1,005,000 | $9,882 | 4.54% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $2,945,000 | $981,667 | $17,423 | 3.29% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $2,905,000 | $968,333 | $21,670 | 4.21% |
| Steamboat Springs, CO (FHA|USDA|VA) | 3 | $2,775,000 | $925,000 | $11,981 | 4.54% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 2 | $2,730,000 | $1,365,000 | $12,792 | 3.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $2,685,000 | $895,000 | $11,042 | 3.92% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $2,505,000 | $835,000 | $15,445 | 4.08% |
| Ellensburg, WA (FHA|USDA|VA) | 2 | $2,210,000 | $1,105,000 | $8,600 | 3.88% |
| Outside of Metro Areas | 2 | $2,170,000 | $1,085,000 | $10,779 | 3.38% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $2,150,000 | $1,075,000 | $18,282 | 4.38% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $4,841 | 3.13% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $1,970,000 | $985,000 | $6,232 | 4.38% |
| SALEM, OR (FHA|USDA|VA) | 2 | $1,710,000 | $855,000 | $15,836 | 4.31% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $4,533 | 4.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $1,460,000 | $730,000 | $4,474 | 4.31% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $13,408 | 3.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $32,621 | 6.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $1,265,000 | $1,265,000 | $17,982 | 5.38% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $1,215,000 | $1,215,000 | $11,898 | 4.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $5,746 | 4.13% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $4,572 | 3.38% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $1,165,000 | $1,165,000 | $13,265 | 4.25% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $9,142 | 5.50% |
| TULSA, OK (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $13,617 | 3.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $8,739 | 5.13% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $11,375 | 4.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $5,425 | 3.75% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $7,451 | 5.50% |
| Edwards, CO (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $3,998 | 3.38% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $5,241 | 3.38% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $8,208 | 4.63% |
| RENO, NV (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $13,257 | 3.25% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $8,081 | 3.50% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $17,588 | 3.75% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $5,047 | 6.25% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $12,248 | 4.50% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $12,497 | 3.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $19,559 | 3.88% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $7,631 | 3.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $12,313 | 4.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $16,500 | 5.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $8,028 | 3.25% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $4,603 | 3.63% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $4,536 | 3.63% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $5,673 | 3.50% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $10,728 | 5.88% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $11,009 | 4.75% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $7,295 | 4.25% |
| Hailey, ID (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $16,482 | 5.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $5,006 | 4.38% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,598 | 6.75% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $5,723 | 5.38% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,069 | 4.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,753 | 4.38% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $4,804 | 3.25% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $5,166 | 4.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $4,235 | 5.13% |
| MADERA, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $11,191 | 5.38% |
| Brevard, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $20,209 | 4.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $3,922 | 4.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $16,119 | 6.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,304 | 6.00% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 276 | $282,140,000 | $1,022,246 | $12,053 | 4.36% |
For 2022, Redwood Residential Acquisition Corporation's most frequently originated type of loan was Conventional, with 276 originations.
Loan Reason
For 2022, Redwood Residential Acquisition Corporation's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.
Loan Duration/Length
For 2022, Redwood Residential Acquisition Corporation's most frequently cited loan duration was 30 Year, with 272 originations. The 2nd most popular length was 20 Year, with 3 originations.
Origination Fees/Closing Costs
Redwood Residential Acquisition Corporation's average total fees were $12,074, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 133 originations.
Interest Rates
During 2022, Redwood Residential Acquisition Corporation's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 3-4%, with 125 originations.
Loan Sizing
2022 saw Redwood Residential Acquisition Corporation place emphasis on $600k-1MM loans with 147 originations, totaling $118,155,000 in origination value.
Applicant Income
Redwood Residential Acquisition Corporation lent most frequently to those with incomes in the $250k+ range, with 172 originations. The second most popular income band? $150k-250k, with 89 originations.
Applicant Debt to Income Ratio
Redwood Residential Acquisition Corporation lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.86%
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 origination59.78%
Redwood Residential Acquisition Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 276 | $282,140,000 | $1,022,246 |