Readycap Commercial Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 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 and Other loans. Readycap Commercial has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Los Angeles, Dallas, Seattle, and New York among others. We have data for 57 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

172

Origination Dollar Volume (All Markets)

$480,730,000

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $44,430,000 $7,405,000 $0 5.36%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 14 $41,780,000 $2,984,286 $0 4.10%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $41,480,000 $5,185,000 $0 5.29%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 11 $35,545,000 $3,231,364 $0 4.10%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 12 $33,200,000 $2,766,667 $0 4.92%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $19,365,000 $2,766,429 $0 5.58%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $18,055,000 $2,579,286 $0 5.47%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $17,030,000 $2,128,750 $0 5.32%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 7 $16,845,000 $2,406,429 $0 4.84%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $14,875,000 $2,975,000 $0 4.81%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $10,555,000 $2,111,000 $0 4.52%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $10,145,000 $2,029,000 $0 4.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $9,985,000 $1,997,000 $0 5.39%
COLUMBUS, OH (FHA|USDA|VA) 4 $9,640,000 $2,410,000 $0 4.61%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $9,390,000 $4,695,000 $0 4.23%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $9,345,000 $3,115,000 $0 4.49%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $8,025,000 $2,675,000 $0 4.67%
TUCSON, AZ (FHA|USDA|VA) 3 $7,705,000 $2,568,333 $0 4.94%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $7,675,000 $2,558,333 $0 3.97%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $6,800,000 $1,133,333 $0 4.82%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $6,360,000 $3,180,000 $0 5.60%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $6,350,000 $1,587,500 $0 4.39%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $5,655,000 $1,885,000 $0 4.73%
Outside of Metro Areas 1 $5,525,000 $5,525,000 $0 5.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $4,970,000 $2,485,000 $0 5.40%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $4,910,000 $2,455,000 $0 5.11%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $4,855,000 $4,855,000 $0 4.11%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $3,945,000 $3,945,000 $0 4.89%
WACO, TX (FHA|USDA|VA) 1 $3,915,000 $3,915,000 $0 4.70%
ROCKFORD, IL (FHA|USDA|VA) 1 $3,515,000 $3,515,000 $0 4.99%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $3,305,000 $3,305,000 $0 4.62%
Shelby, NC (FHA|USDA|VA) 1 $3,305,000 $3,305,000 $0 4.98%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $3,225,000 $3,225,000 $0 4.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $3,205,000 $3,205,000 $0 6.55%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $3,130,000 $1,565,000 $0 4.96%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $3,090,000 $1,545,000 $0 5.95%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $2,975,000 $2,975,000 $0 4.30%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $2,955,000 $2,955,000 $0 4.86%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $2,835,000 $2,835,000 $0 4.76%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $2,780,000 $1,390,000 $0 5.18%
RACINE, WI (FHA|USDA|VA) 1 $2,475,000 $2,475,000 $0 4.70%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $2,115,000 $2,115,000 $0 5.58%
ENID, OK (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 4.72%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $1,835,000 $1,835,000 $0 4.91%
LOUISVILLE, KY (FHA|USDA|VA) 1 $1,815,000 $1,815,000 $0 5.44%
ROCHESTER, NY (FHA|USDA|VA) 1 $1,775,000 $1,775,000 $0 4.22%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 4.90%
RICHMOND, VA (FHA|USDA|VA) 1 $1,715,000 $1,715,000 $0 4.51%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $1,635,000 $1,635,000 $0 4.65%
FRESNO, CA (FHA|USDA|VA) 1 $1,625,000 $1,625,000 $0 5.00%
Jefferson, GA (FHA|USDA|VA) 1 $1,615,000 $1,615,000 $0 4.56%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $1,585,000 $1,585,000 $0 4.51%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 5.17%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 4.98%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.64%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.40%
CASPER, WY (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 4.33%
Readycap Commercial's top markets include Houston, Los Angeles, Dallas, Seattle, and New York among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 172 $480,730,000 $2,794,942 $0 4.84%

    For 2019, Readycap Commercial's most frequently originated type of loan was Conventional, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 88 $254,450,000 $2,891,477 $0 4.53%
    Other 70 $196,390,000 $2,805,571 $0 5.31%
    Refi 14 $29,890,000 $2,135,000 $0 4.47%

    For 2019, Readycap Commercial's most frequently cited loan purpose was Cash Out Refi, with 88 originations. The 2nd most popular reason was Other, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 74 $214,650,000 $2,900,676 $0 4.75%
    20 Year 43 $104,615,000 $2,432,907 $0 4.24%
    Other 32 $86,250,000 $2,695,313 $0 5.59%
    5 Year 15 $48,455,000 $3,230,333 $0 4.66%
    1 Year 5 $12,475,000 $2,495,000 $0 6.58%
    3 Year 3 $14,285,000 $4,761,667 $0 5.77%

    For 2019, Readycap Commercial's most frequently cited loan duration was 10 Year, with 74 originations. The 2nd most popular length was 20 Year, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 102 $279,890,000 $2,744,020
    5-6% 34 $91,710,000 $2,697,353
    3-4% 18 $53,330,000 $2,962,778
    6-7% 16 $50,720,000 $3,170,000
    7-8% 1 $3,455,000 $3,455,000
    % 1 $1,625,000 $1,625,000

    During 2019, Readycap Commercial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 163 $472,635,000 $2,899,601 $0 4.83%
    $600k-1MM 9 $8,095,000 $899,444 $0 4.99%

    2019 saw Readycap Commercial place emphasis on $1MM+ loans with 163 originations, totaling $472,635,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 171 $479,745,000 $2,805,526 $0 4.84%
    White 1 $985,000 $985,000 $0 4.82%

    Approval Rates

    Total approvals of all applications
    87.32%

    Readycap Commercial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -7.56%

    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 172 $480,730,000 $2,794,942

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $2,915,000 $2,915,000
    Multifamily:Site-Built 169 $469,135,000 $2,775,947
    Single Family (1-4 Units):Site-Built 2 $8,680,000 $4,340,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $6,815,000 $2,271,667 $0 4.21%
    40-60% 30 $96,390,000 $3,213,000 $0 4.52%
    60-80% 111 $295,525,000 $2,662,387 $0 4.83%
    80-100% 25 $76,985,000 $3,079,400 $0 5.28%
    Over 100% 2 $3,680,000 $1,840,000 $0 5.72%
    Under 20% 1 $1,335,000 $1,335,000 $0 5.10%