Readycap Commercial Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300L8ZRL1FNUUOA59

Tax ID: 46-1043031

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Readycap Commercial is a mid-sized mortgage company specializing in Home Purchase loans. Readycap Commercial has a high proportion of conventional loans. Their top markets include Dallas, Phoenix, Atlanta, Houston, and Las Vegas among others. Readycap Commercial has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

277

Origination Dollar Volume (All Markets)

$3,610,525,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 31 $620,535,000 $20,017,258 $0 3.65%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 17 $404,045,000 $23,767,353 $0 3.64%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $303,630,000 $30,363,000 $0 3.69%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 20 $233,610,000 $11,680,500 $0 3.84%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 10 $159,510,000 $15,951,000 $0 3.64%
Outside of Metro Areas 9 $151,445,000 $16,827,222 $0 4.19%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 14 $136,090,000 $9,720,714 $0 3.96%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 21 $118,545,000 $5,645,000 $0 3.76%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 8 $111,490,000 $13,936,250 $0 3.81%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $104,005,000 $104,005,000 $0 5.45%
KINGSTON, NY (FHA|USDA|VA) 1 $78,655,000 $78,655,000 $0 4.10%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $66,755,000 $66,755,000 $0 3.50%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $55,540,000 $9,256,667 $0 3.58%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $55,090,000 $9,181,667 $0 3.69%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $51,465,000 $10,293,000 $0 4.14%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $44,280,000 $22,140,000 $0 4.03%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $43,130,000 $21,565,000 $0 3.20%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $42,660,000 $10,665,000 $0 3.64%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $41,565,000 $5,937,857 $0 3.59%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $39,655,000 $39,655,000 $0 3.20%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $39,195,000 $39,195,000 $0 3.75%
TUCSON, AZ (FHA|USDA|VA) 3 $38,845,000 $12,948,333 $0 3.98%
OKLAHOMA CITY, OK (FHA|USDA|VA) 3 $33,535,000 $11,178,333 $0 3.69%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $32,470,000 $8,117,500 $0 3.71%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $32,205,000 $32,205,000 $0 3.36%
COLUMBUS, OH (FHA|USDA|VA) 3 $28,165,000 $9,388,333 $0 3.56%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $27,875,000 $9,291,667 $0 3.87%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $26,310,000 $13,155,000 $0 3.80%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $26,025,000 $26,025,000 $0 3.35%
STOCKTON, CA (FHA|USDA|VA) 1 $24,455,000 $24,455,000 $0 3.40%
GAINESVILLE, FL (FHA|USDA|VA) 2 $23,180,000 $11,590,000 $0 3.78%
PITTSBURGH, PA (FHA|USDA|VA) 2 $21,700,000 $10,850,000 $0 3.74%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $21,485,000 $7,161,667 $0 3.92%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $20,170,000 $10,085,000 $0 3.72%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $19,425,000 $6,475,000 $0 3.66%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $18,645,000 $6,215,000 $0 4.19%
MADISON, WI (FHA|USDA|VA) 2 $17,380,000 $8,690,000 $0 4.20%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $16,805,000 $16,805,000 $0 3.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $16,245,000 $5,415,000 $0 4.55%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $16,190,000 $8,095,000 $0 3.95%
KNOXVILLE, TN (FHA|USDA|VA) 1 $14,155,000 $14,155,000 $0 3.30%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $14,150,000 $3,537,500 $0 4.35%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $13,445,000 $13,445,000 $0 4.15%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 2 $11,810,000 $5,905,000 $0 3.88%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $11,540,000 $5,770,000 $0 4.25%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $11,040,000 $5,520,000 $0 3.84%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $10,105,000 $10,105,000 $0 4.60%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $10,060,000 $5,030,000 $0 4.73%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $9,770,000 $4,885,000 $0 4.40%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $9,195,000 $9,195,000 $0 4.25%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $8,665,000 $8,665,000 $0 4.15%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $8,610,000 $4,305,000 $0 4.09%
COLUMBIA, SC (FHA|USDA|VA) 1 $8,355,000 $8,355,000 $0 4.50%
RICHMOND, VA (FHA|USDA|VA) 2 $7,730,000 $3,865,000 $0 3.42%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $7,705,000 $7,705,000 $0 4.00%
FRESNO, CA (FHA|USDA|VA) 2 $7,660,000 $3,830,000 $0 3.25%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $7,255,000 $7,255,000 $0 3.60%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $7,030,000 $3,515,000 $0 4.31%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $6,635,000 $6,635,000 $0 4.60%
LONGVIEW, TX (FHA|USDA|VA) 1 $5,935,000 $5,935,000 $0 3.74%
AMARILLO, TX (FHA|USDA|VA) 1 $5,885,000 $5,885,000 $0 3.57%
ROCHESTER, NY (FHA|USDA|VA) 3 $5,415,000 $1,805,000 $0 3.71%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $4,605,000 $4,605,000 $0 4.50%
GAINESVILLE, GA (FHA|USDA|VA) 1 $4,205,000 $4,205,000 $0 4.40%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $3,960,000 $1,980,000 $0 3.59%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $3,585,000 $3,585,000 $0 3.26%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $3,260,000 $1,630,000 $0 3.12%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $2,905,000 $2,905,000 $0 3.54%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $2,855,000 $2,855,000 $0 4.65%
WILMINGTON, NC (FHA|USDA|VA) 1 $2,705,000 $2,705,000 $0 3.20%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $2,605,000 $2,605,000 $0 4.80%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $2,575,000 $2,575,000 $0 3.30%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 3.98%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 4.50%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $1,905,000 $1,905,000 $0 4.70%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $1,645,000 $1,645,000 $0 3.78%
ANCHORAGE, AK (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 3.11%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.02%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $1,145,000 $1,145,000 $0 3.57%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $0 4.68%

Readycap Commercial 's top markets include Dallas, Phoenix, Atlanta, Houston, and Las Vegas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 277 $3,610,525,000 $13,034,386 $0 3.82%

For the 2021 period, Readycap Commercial 's most frequently originated loan type of loans were Conventional, with 277 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 189 $3,118,245,000 $16,498,651 $0 3.90%
Cash Out Refi 43 $135,645,000 $3,154,535 $0 3.53%
Refi 25 $274,085,000 $10,963,400 $0 4.07%
NA 14 $67,000,000 $4,785,714 $0 3.52%
Other 6 $15,550,000 $2,591,667 $0 3.11%

For the 2021, Readycap Commercial 's most frequently cited loan purpose of loans were Home Purchase, with 189 originations. The 2nd most popular reason of loans were Cash Out Refi, with 43 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
3 Year 128 $2,734,290,000 $21,361,641 $0 3.79%
Other 70 $574,960,000 $8,213,714 $0 4.14%
10 Year 41 $111,905,000 $2,729,390 $0 3.62%
20 Year 25 $75,655,000 $3,026,200 $0 3.39%
5 Year 10 $104,270,000 $10,427,000 $0 3.54%
1 Year 3 $9,445,000 $3,148,333 $0 4.63%

For the 2021, Readycap Commercial 's most frequently cited loan length of loans were 3 Year, with 128 originations. The 2nd most popular length of loans were Other, with 70 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 189 $2,714,365,000 $14,361,720
4-5% 75 $646,265,000 $8,616,867
5-6% 8 $175,310,000 $21,913,750
2.5-3% 5 $74,585,000 $14,917,000

During 2021, Readycap Commercial 's average interest rate of loans were 0.00%, while their most frequently originated rate bucket of loans were 3-4%, with 189 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 277 $3,610,525,000 $13,034,386 $0 3.82%

2021 saw Readycap Commercial place emphasis on $1MM+ loans with 277 originations, totaling $3,610,525,000 in origination value.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 277 $3,610,525,000 $13,034,386 $0 3.82%

Approval Rates

Total approvals of all applications
90.17%

Readycap Commercial has an average approval rate.

Pick Rate

Approvals leading to origination
37.29%

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 277 $3,610,525,000 $13,034,386

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
277 $3,610,525,000 $13,034,386

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 5 $200,815,000 $40,163,000 $0 3.53%
40-60% 33 $174,775,000 $5,296,212 $0 3.50%
60-80% 133 $1,216,695,000 $9,148,083 $0 3.85%
80-100% 99 $1,956,015,000 $19,757,727 $0 3.86%
Over 100% 7 $62,225,000 $8,889,286 $0 4.35%