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 Home Purchase loans. Readycap Commercial has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Houston, Detroit, San Jose, and New York among others. We have data for 52 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
188Origination Dollar Volume (All Markets)
$645,740,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 65 | $185,935,000 | $2,860,538 | $0 | 3.17% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $38,055,000 | $7,611,000 | $0 | 4.21% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $35,985,000 | $35,985,000 | $0 | 4.75% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $27,270,000 | $13,635,000 | $0 | 6.22% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $24,845,000 | $4,969,000 | $0 | 4.31% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $22,135,000 | $3,162,143 | $0 | 3.76% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $21,010,000 | $2,626,250 | $0 | 5.18% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $19,905,000 | $19,905,000 | $0 | 5.40% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $19,840,000 | $4,960,000 | $0 | 5.31% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 8 | $17,930,000 | $2,241,250 | $0 | 3.74% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 5 | $17,435,000 | $3,487,000 | $0 | 3.78% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $17,010,000 | $4,252,500 | $0 | 4.53% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $15,360,000 | $2,560,000 | $0 | 3.67% |
| COLUMBUS, OH (FHA|USDA|VA) | 7 | $13,855,000 | $1,979,286 | $0 | 4.11% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $12,805,000 | $4,268,333 | $0 | 3.51% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $11,165,000 | $3,721,667 | $0 | 4.06% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $11,055,000 | $3,685,000 | $0 | 3.71% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $9,745,000 | $3,248,333 | $0 | 3.66% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $9,290,000 | $2,322,500 | $0 | 3.64% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $8,830,000 | $4,415,000 | $0 | 4.22% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $7,710,000 | $3,855,000 | $0 | 4.12% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $6,965,000 | $6,965,000 | $0 | 3.85% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $6,130,000 | $3,065,000 | $0 | 3.79% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $6,110,000 | $3,055,000 | $0 | 4.18% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $5,395,000 | $5,395,000 | $0 | 3.93% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $5,115,000 | $5,115,000 | $0 | 4.37% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $4,545,000 | $4,545,000 | $0 | 4.59% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $4,490,000 | $2,245,000 | $0 | 4.15% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $4,375,000 | $1,458,333 | $0 | 3.78% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $4,305,000 | $4,305,000 | $0 | 4.10% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $3,775,000 | $1,258,333 | $0 | 3.43% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $3,595,000 | $3,595,000 | $0 | 3.85% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $3,525,000 | $3,525,000 | $0 | 3.53% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $3,505,000 | $3,505,000 | $0 | 2.96% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $3,155,000 | $3,155,000 | $0 | 3.97% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $3,055,000 | $3,055,000 | $0 | 3.99% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $3,025,000 | $3,025,000 | $0 | 4.39% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $2,775,000 | $2,775,000 | $0 | 3.61% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $2,765,000 | $2,765,000 | $0 | 5.64% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $2,710,000 | $1,355,000 | $0 | 4.23% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $2,505,000 | $2,505,000 | $0 | 4.17% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $2,105,000 | $2,105,000 | $0 | 4.40% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $2,020,000 | $1,010,000 | $0 | 3.67% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 4.25% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $0 | 3.91% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $1,625,000 | $1,625,000 | $0 | 4.06% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $1,555,000 | $1,555,000 | $0 | 3.27% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $1,515,000 | $1,515,000 | $0 | 3.84% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $0 | 3.48% |
| AKRON, OH (FHA|USDA|VA) | 1 | $1,115,000 | $1,115,000 | $0 | 3.68% |
| Outside of Metro Areas | 1 | $1,045,000 | $1,045,000 | $0 | 4.12% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $0 | 4.85% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 188 | $645,740,000 | $3,434,787 | $0 | 3.79% |
For 2020, Readycap Commercial's most frequently originated type of loan was Conventional, with 188 originations.
Loan Reason
For 2020, Readycap Commercial's most frequently cited loan purpose was Cash Out Refi, with 122 originations. The 2nd most popular reason was Home Purchase, with 57 originations.
Loan Duration/Length
For 2020, Readycap Commercial's most frequently cited loan duration was 20 Year, with 109 originations. The 2nd most popular length was 10 Year, with 50 originations.
Interest Rates
During 2020, Readycap Commercial's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 115 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 187 | $644,825,000 | $3,448,262 | $0 | 3.78% |
| $600k-1MM | 1 | $915,000 | $915,000 | $0 | 4.85% |
2020 saw Readycap Commercial place emphasis on $1MM+ loans with 187 originations, totaling $644,825,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 188 | $645,740,000 | $3,434,787 | $0 | 3.79% |
Approval Rates
Total approvals of all applications88.15%
Readycap Commercial has an average approval rate.
Pick Rate
Approvals leading to origination32.98%
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 | 188 | $645,740,000 | $3,434,787 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 188 | $645,740,000 | $3,434,787 |