Readycap Commercial Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300L8ZRL1FNUUOA59
Tax ID: 46-1043031
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Mortgage Data
Review & Overview
Readycap Commercial is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Readycap Commercial has a high proportion of conventional loans. Their top markets by origination volume include: Fresno, New York, Los Angeles, Riverside, and Tampa among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)Readycap Commercial 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.
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Originations
67Origination Dollar Volume (All Markets)
$449,775,000Top 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 |
|---|---|---|---|---|---|
| FRESNO, CA (FHA|USDA|VA) | 10 | $52,560,000 | $5,256,000 | $0 | 6.47% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $47,810,000 | $11,952,500 | $0 | 7.04% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $42,455,000 | $3,859,545 | $0 | 6.59% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $40,005,000 | $40,005,000 | $0 | 9.67% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $37,555,000 | $37,555,000 | $0 | 8.65% |
| Pullman, WA (FHA|USDA|VA) | 1 | $28,005,000 | $28,005,000 | $0 | 12.02% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $25,475,000 | $25,475,000 | $0 | 10.31% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $20,495,000 | $6,831,667 | $0 | 7.35% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $19,805,000 | $19,805,000 | $0 | 7.35% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $13,145,000 | $13,145,000 | $0 | 10.75% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $12,710,000 | $6,355,000 | $0 | 7.75% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 4 | $10,550,000 | $2,637,500 | $0 | 5.82% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $7,910,000 | $1,977,500 | $0 | 6.16% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $7,130,000 | $3,565,000 | $0 | 8.23% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $7,125,000 | $7,125,000 | $0 | 6.36% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $6,785,000 | $6,785,000 | $0 | 6.24% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 2 | $6,540,000 | $3,270,000 | $0 | 5.96% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $5,945,000 | $5,945,000 | $0 | 6.64% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $5,825,000 | $5,825,000 | $0 | 6.62% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $5,775,000 | $5,775,000 | $0 | 7.25% |
| TULSA, OK (FHA|USDA|VA) | 1 | $5,415,000 | $5,415,000 | $0 | 10.36% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $5,025,000 | $5,025,000 | $0 | 6.33% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $5,005,000 | $5,005,000 | $0 | 9.60% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $4,955,000 | $4,955,000 | $0 | 5.55% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $4,525,000 | $4,525,000 | $0 | 6.67% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $3,965,000 | $3,965,000 | $0 | 5.72% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $3,645,000 | $3,645,000 | $0 | 5.48% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $3,555,000 | $3,555,000 | $0 | 6.91% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $2,865,000 | $2,865,000 | $0 | 6.53% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $2,540,000 | $1,270,000 | $0 | 5.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $2,135,000 | $2,135,000 | $0 | 6.32% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $1,535,000 | $1,535,000 | $0 | 5.64% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 5.89% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $449,775,000 | $6,713,060 | $0 | 6.91% |
For 2023, Readycap Commercial's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
For 2023, Readycap Commercial's most frequently cited loan purpose was Cash Out Refi, with 27 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
For 2023, Readycap Commercial's most frequently cited loan duration was 5 Year, with 29 originations. The 2nd most popular length was Other, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 30 | $119,360,000 | $3,978,667 |
| 5-6% | 22 | $63,130,000 | $2,869,545 |
| Over 8% | 13 | $241,705,000 | $18,592,692 |
| 7-8% | 2 | $25,580,000 | $12,790,000 |
During 2023, Readycap Commercial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 30 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 67 | $449,775,000 | $6,713,060 | $0 | 6.91% |
2023 saw Readycap Commercial place emphasis on $1MM+ loans with 67 originations, totaling $449,775,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 67 | $449,775,000 | $6,713,060 | $0 | 6.91% |
Approval Rates
Total approvals of all applications86.49%
Readycap Commercial has an average approval rate.
Pick Rate
Approvals leading to origination59.70%
Readycap Commercial 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 | 67 | $449,775,000 | $6,713,060 |