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, Refi, and Cash Out Refi loans. Redwood Residential Acquisition Corporation has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Los Angeles, Seattle, Austin, and Dallas among others. We have data for 72 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% | 4/14/24 |
| 30 Year Conventional Refi | 6.55% | 4/14/24 |
| 30 Year Cash-out Refi | 6.50% | 4/14/24 |
| 15 Year Conventional Purchase | 6.29% | 4/14/24 |
| 15 Year Conventional Refi | 5.68% | 4/14/24 |
| 15 Year Cash-out Refi | 5.68% | 4/14/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
219Origination Dollar Volume (All Markets)
$190,755,000Top 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 Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 17 | $18,075,000 | $1,063,235 | $9,278 | 3.58% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 15 | $14,905,000 | $993,667 | $9,669 | 3.85% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 11 | $12,345,000 | $1,122,273 | $11,729 | 3.58% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 12 | $11,310,000 | $942,500 | $9,505 | 3.69% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 14 | $9,700,000 | $692,857 | $8,188 | 3.65% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 10 | $8,960,000 | $896,000 | $12,262 | 4.36% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 8 | $7,860,000 | $982,500 | $9,487 | 3.73% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 10 | $6,940,000 | $694,000 | $9,624 | 3.53% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 9 | $6,415,000 | $712,778 | $7,846 | 4.24% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 6 | $5,740,000 | $956,667 | $4,846 | 4.15% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 8 | $5,480,000 | $685,000 | $5,674 | 3.86% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $5,155,000 | $1,031,000 | $7,363 | 3.53% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $4,685,000 | $937,000 | $7,386 | 3.53% |
| Outside of Metro Areas | 5 | $3,935,000 | $787,000 | $9,621 | 3.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $3,870,000 | $967,500 | $11,296 | 4.13% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $3,560,000 | $890,000 | $7,988 | 3.84% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $3,400,000 | $850,000 | $9,515 | 3.56% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $2,765,000 | $921,667 | $13,307 | 4.04% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $2,450,000 | $1,225,000 | $19,092 | 4.19% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $2,295,000 | $765,000 | $7,078 | 4.83% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $2,010,000 | $1,005,000 | $4,316 | 3.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $1,810,000 | $905,000 | $13,875 | 3.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $1,750,000 | $875,000 | $9,044 | 3.88% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $1,690,000 | $845,000 | $8,179 | 4.19% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $1,685,000 | $1,685,000 | $54,169 | 4.25% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,560,000 | $780,000 | $7,836 | 3.13% |
| MADISON, WI (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $2,489 | 3.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $10,471 | 3.13% |
| Fredericksburg, TX (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $10,236 | 3.81% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $1,360,000 | $680,000 | $9,096 | 3.25% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $4,412 | 4.25% |
| BEND, OR (FHA|USDA|VA) | 2 | $1,310,000 | $655,000 | $7,690 | 3.88% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $1,260,000 | $630,000 | $3,227 | 3.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $8,460 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $17,339 | 2.88% |
| Sandpoint, ID (FHA|USDA|VA) | 1 | $1,115,000 | $1,115,000 | $20,319 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,080,000 | $540,000 | $11,540 | 5.13% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $5,402 | 5.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $22,195 | 4.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $6,261 | 2.88% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $6,615 | 5.13% |
| Heber, UT (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $9,121 | 3.88% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $5,890 | 3.25% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $11,631 | 4.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $10,531 | 4.63% |
| Edwards, CO (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $3,750 | 4.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $6,342 | 3.25% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $6,757 | 5.25% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $5,127 | 3.88% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $6,794 | 2.88% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $4,716 | 2.88% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $11,898 | 3.25% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $4,201 | 4.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $2,641 | 4.38% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $19,866 | 3.75% |
| Outside of Metro Areas | 1 | $715,000 | $715,000 | $10,749 | 3.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $14,012 | 5.13% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $0 | 3.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $12,968 | 4.63% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $6,763 | 5.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,337 | 2.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $1,658 | 4.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,087 | 3.63% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,633 | 3.75% |
| TULSA, OK (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $11,709 | 4.63% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,111 | 4.50% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $12,583 | 4.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $6,975 | 3.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $12,299 | 4.50% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $5,411 | 3.88% |
| Torrington, CT (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,280 | 3.13% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $7,240 | 4.63% |
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 | 219 | $190,755,000 | $871,027 | $9,196 | 3.83% |
For 2020, Redwood Residential Acquisition Corporation's most frequently originated type of loan was Conventional, with 219 originations.
Loan Reason
For 2020, Redwood Residential Acquisition Corporation's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 56 originations.
Loan Duration/Length
For 2020, Redwood Residential Acquisition Corporation's most frequently cited loan duration was 30 Year, with 214 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 $9,255, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 84 originations.
Interest Rates
During 2020, Redwood Residential Acquisition Corporation's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 106 originations.
Loan Sizing
2020 saw Redwood Residential Acquisition Corporation place emphasis on $600k-1MM loans with 140 originations, totaling $108,050,000 in origination value.
Applicant Income
Redwood Residential Acquisition Corporation lent most frequently to those with incomes in the $250k+ range, with 123 originations. The second most popular income band? $150k-250k, with 74 originations.
Applicant Debt to Income Ratio
Redwood Residential Acquisition Corporation lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.28%
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 origination12.79%
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 | 219 | $190,755,000 | $871,027 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 219 | $190,755,000 | $871,027 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Red Tree Mortgage LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |