Railroad & Industrial Mortgage Rates, Fees & Info
Tampa, FLLEI: 549300KEN9618A3NSC95
Tax ID: 59-0626681
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Mortgage Data
Review & Overview
Railroad & Industrial is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Railroad & Industrial has a high proportion of conventional loans. Their top markets by origination volume include: Tampa, Lakeland, North Port, Deltona, and Tallahassee among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Railroad & Industrial 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. Railroad & Industrial 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 | 7.20% | 4/28/24 |
| 30 Year Conventional Refi | 6.51% | 4/28/24 |
| 30 Year Cash-out Refi | 6.99% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.17% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
Railroad & Industrial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
26Origination Dollar Volume (All Markets)
$5,010,000Awards
RAILROAD & INDUSTRIAL - 2022
RAILROAD & INDUSTRIAL is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 19 | $3,865,000 | $203,421 | $4,685 | 4.43% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $5,508 | 4.81% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,026 | 4.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,349 | 3.88% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $125 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against RAILROAD & INDUSTRIAL 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 | 25 | $4,715,000 | $188,600 | $4,397 | 4.48% |
| VA | 1 | $295,000 | $295,000 | $10,612 | 6.63% |
For 2022, Railroad & Industrial's most frequently originated type of loan was Conventional, with 25 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2022, Railroad & Industrial's most frequently cited loan purpose was Cash Out Refi, with 12 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2022, Railroad & Industrial's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 14 | $2,320,000 | $165,714 |
| $2k-3k | 6 | $1,970,000 | $328,333 |
| $<1k | 4 | $250,000 | $62,500 |
| $5k+ | 2 | $470,000 | $235,000 |
Railroad & Industrial's average total fees were $4,620, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 14 originations.
Interest Rates
During 2022, Railroad & Industrial's average interest rate for loans was 4.55%, while their most frequently originated rate bucket for loans was 3-4%, with 9 originations.
Loan Sizing
2022 saw Railroad & Industrial place emphasis on $200k-400k loans with 11 originations, totaling $3,155,000 in origination value.
Applicant Income
Railroad & Industrial lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
Railroad & Industrial lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 21 | $3,875,000 | $184,524 | $4,553 | 4.52% |
| Black | 5 | $1,135,000 | $227,000 | $4,985 | 4.73% |
Approval Rates
Total approvals of all applications93.75%
Railroad & Industrial has an average approval rate.
Pick Rate
Approvals leading to origination34.62%
Railroad & Industrial 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 | 26 | $5,010,000 | $192,692 |