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 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
172Origination Dollar Volume (All Markets)
$480,730,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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 applications87.32%
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 |