Results Mortgage Rates, Fees & Info
DOVER, DELEI: 549300KEL5474M0Z1H81
Tax ID: 81-1250682
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Mortgage Data
Review & Overview
Results Mortgage is a smaller mortgage company specializing in Home Purchase loans. Results Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Duluth, Rochester, St. Cloud, and Brainerd among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Results Mortgage has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Results Mortgage is typically a low 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 | 6.08% | 5/4/24 |
| 30 Year Conventional Refi | 6.73% | 5/4/24 |
| 30 Year Cash-out Refi | 6.98% | 5/4/24 |
| 30 Year FHA Purchase | 7.44% | 5/4/24 |
| 30 Year FHA Refi | 6.84% | 5/4/24 |
| 30 Year VA Purchase | 6.26% | 5/4/24 |
| 30 Year USDA Purchase | 6.68% | 5/4/24 |
| 15 Year Conventional Purchase | 6.25% | 5/4/24 |
| 15 Year Conventional Refi | 5.98% | 5/4/24 |
| 15 Year Cash-out Refi | 5.98% | 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. | ||
Results Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
963Origination Dollar Volume (All Markets)
$156,145,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 655 | $114,235,000 | $174,405 | $3,895 | 4.94% |
| DULUTH, MN-WI (FHA|USDA|VA) | 111 | $15,895,000 | $143,198 | $3,982 | 4.97% |
| ROCHESTER, MN (FHA|USDA|VA) | 85 | $12,385,000 | $145,706 | $4,214 | 4.79% |
| Outside of Metro Areas | 44 | $6,210,000 | $141,136 | $3,819 | 5.11% |
| ST. CLOUD, MN (FHA|USDA|VA) | 39 | $4,425,000 | $113,462 | $3,411 | 4.89% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $755,000 | $151,000 | $3,864 | 4.90% |
| Red Wing, MN (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $3,141 | 5.06% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 5 | $465,000 | $93,000 | $2,980 | 5.19% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.50% |
| Albert Lea, MN (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $3,192 | 5.56% |
| Hutchinson, MN (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $2,875 | 5.81% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,596 | 4.88% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $2,613 | 4.88% |
| Fergus Falls, MN (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $2,632 | 4.75% |
| Marshall, MN (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $2,733 | 5.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against RESULTS MORTGAGE 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 2018, Results Mortgage's most frequently originated type of loan was Conventional, with 725 originations. Their 2nd most popular type was FHA, with 155 originations.
Loan Reason
For 2018, Results Mortgage's most frequently cited loan purpose was Home Purchase, with 919 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.
Loan Duration/Length
For 2018, Results Mortgage's most frequently cited loan duration was 30 Year, with 861 originations. The 2nd most popular length was 10 Year, with 66 originations.
Origination Fees/Closing Costs
Results Mortgage's average total fees were $4,262, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 284 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 544 | $104,800,000 | $192,647 |
| 5-6% | 278 | $45,240,000 | $162,734 |
| 3-4% | 23 | $5,175,000 | $225,000 |
| 6-7% | 3 | $255,000 | $85,000 |
During 2018, Results Mortgage's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 544 originations.
Loan Sizing
2018 saw Results Mortgage place emphasis on $100k-200k loans with 383 originations, totaling $59,895,000 in origination value.
Applicant Income
Results Mortgage lent most frequently to those with incomes in the $50k-75k range, with 365 originations. The second most popular income band? $50k or less, with 256 originations.
Applicant Debt to Income Ratio
Results Mortgage lent most frequently to those with DTI ratios of 30-36%, with 155 originations. The next most common DTI ratio? 20-30%, with 147 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.11%
Results Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination88.68%
Results Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 963 | $156,145,000 | $162,144 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $480,000 | $120,000 |
| Single Family (1-4 Units):Site-Built | 959 | $155,665,000 | $162,320 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Results Mortgage, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |