Resource Lenders Mortgage Rates, Fees & Info

FRESNO, CA

LEI: 549300LCU7GG78XX2Q49

Tax ID: 77-0251790

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Resource Lenders is a smaller mortgage company specializing in Home Purchase loans. Resource Lenders has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Fresno, Santa Maria, San Luis Obispo, Bakersfield, and Hanford among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Resource Lenders has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Resource Lenders is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    135

    Origination Dollar Volume (All Markets)

    $37,935,000

    Awards

    Resource Lenders 30 Year Conventional Loans bronze
    Show all (1) awards

    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
    FRESNO, CA (FHA|USDA|VA) 60 $15,170,000 $252,833 $5,373 4.66%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 24 $8,560,000 $356,667 $6,143 4.42%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 15 $5,015,000 $334,333 $4,193 4.70%
    BAKERSFIELD, CA (FHA|USDA|VA) 10 $2,480,000 $248,000 $5,515 4.64%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 9 $2,205,000 $245,000 $8,082 4.63%
    MADERA, CA (FHA|USDA|VA) 8 $2,050,000 $256,250 $5,805 4.59%
    VISALIA, CA (FHA|USDA|VA) 5 $1,375,000 $275,000 $6,366 5.20%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $435,000 $435,000 $8,851 4.50%
    RENO, NV (FHA|USDA|VA) 2 $330,000 $165,000 $5,455 4.81%
    MODESTO, CA (FHA|USDA|VA) 1 $315,000 $315,000 $4,458 4.75%
    Resource Lenders's top markets include Fresno, Santa Maria, San Luis Obispo, Bakersfield, and Hanford among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Resource Lenders based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FAMILIES AND SCHOOLS TOGETHER FEDERAL CREDIT UNION
    Similarity Rank: 162
    SAFE 1 CREDIT UNION
    Similarity Rank: 174
    Educational Employees Credit Union
    Similarity Rank: 272
    COASTHILLS
    Similarity Rank: 378
    CAMPOS FINANCIAL CORP.
    Similarity Rank: 380
    KEYPOINT
    Similarity Rank: 484
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 576
    SCHOOLSFIRST
    Similarity Rank: 700
    PACIFIC SERVICE
    Similarity Rank: 891
    CUSTOMER SERVICE MORTGAGE CORPORATION
    Similarity Rank: 910

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $22,865,000 $275,482 $4,199 4.79%
    FHA 34 $8,670,000 $255,000 $8,834 4.42%
    VA 18 $6,400,000 $355,556 $6,347 4.31%

    For 2019, Resource Lenders's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was FHA, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $31,055,000 $284,908 $5,924 4.61%
    Cash Out Refi 24 $6,130,000 $255,417 $4,471 4.75%
    Refi 2 $750,000 $375,000 $5,039 4.50%

    For 2019, Resource Lenders's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 130 $36,960,000 $284,308 $5,735 4.65%
    15 Year 4 $830,000 $207,500 $4,059 4.28%
    20 Year 1 $145,000 $145,000 $1,254 4.38%

    For 2019, Resource Lenders's most frequently cited loan duration was 30 Year, with 130 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 52 $14,560,000 $280,000
    $<1k 43 $12,275,000 $285,465
    $5k+ 21 $6,585,000 $313,571
    $2k-3k 11 $2,395,000 $217,727
    $3k-4k 6 $1,700,000 $283,333
    $4k-5k 2 $420,000 $210,000

    Resource Lenders's average total fees were $5,735, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 106 $30,570,000 $288,396
    5-6% 19 $4,495,000 $236,579
    3-4% 10 $2,870,000 $287,000

    During 2019, Resource Lenders's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 87 $24,295,000 $279,253 $6,281 4.59%
    $100k-200k 23 $3,715,000 $161,522 $3,895 4.77%
    $400k-600k 17 $7,585,000 $446,176 $5,405 4.55%
    $100,000 or less 5 $425,000 $85,000 $3,186 4.90%
    $600k-1MM 3 $1,915,000 $638,333 $6,399 4.83%

    2019 saw Resource Lenders place emphasis on $200k-400k loans with 87 originations, totaling $24,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 35 $9,775,000 $279,286 $6,701 4.54%
    $50k-75k 32 $7,430,000 $232,188 $5,533 4.57%
    $100k-150k 29 $9,245,000 $318,793 $5,213 4.59%
    $150k-250k 17 $5,455,000 $320,882 $5,477 4.78%
    $50k or less 13 $2,605,000 $200,385 $3,936 4.78%
    $250k+ 9 $3,425,000 $380,556 $6,228 4.85%

    Resource Lenders lent most frequently to those with incomes in the $75k-100k range, with 35 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $5,880,000 $267,273 $5,894 4.72%
    30-36% 22 $6,400,000 $290,909 $6,138 4.64%
    50-60% 14 $3,080,000 $220,000 $6,688 4.56%
    42% 10 $2,740,000 $274,000 $5,400 4.51%
    49% 7 $1,935,000 $276,429 $4,808 4.75%
    45% 7 $2,495,000 $356,429 $5,094 4.71%
    48% 7 $2,025,000 $289,286 $2,754 4.66%
    41% 6 $2,290,000 $381,667 $6,685 4.35%
    44% 5 $1,165,000 $233,000 $3,652 4.78%
    <20% 4 $1,200,000 $300,000 $4,236 4.69%
    38% 4 $1,330,000 $332,500 $4,758 4.84%
    39% 4 $1,090,000 $272,500 $6,420 4.53%
    43% 4 $920,000 $230,000 $8,177 4.56%
    46% 4 $1,340,000 $335,000 $8,775 4.50%
    47% 4 $1,170,000 $292,500 $7,477 4.16%
    40% 3 $855,000 $285,000 $4,691 4.63%
    37% 3 $655,000 $218,333 $4,502 4.71%
    36% 3 $815,000 $271,667 $3,311 5.08%
    >60% 2 $550,000 $275,000 $3,449 4.63%

    Resource Lenders lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 120 $34,130,000 $284,417 $5,654 4.64%
    Black 4 $1,420,000 $355,000 $6,526 4.22%
    Asian 5 $1,245,000 $249,000 $6,292 4.53%
    Not provided 4 $740,000 $185,000 $4,190 4.66%
    American Indian 2 $400,000 $200,000 $5,119 5.13%

    Approval Rates

    Total approvals of all applications
    98.53%

    Resource Lenders has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    51.11%

    Resource Lenders 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 135 $37,935,000 $281,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $430,000 $215,000
    Single Family (1-4 Units):Site-Built 133 $37,505,000 $281,992

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,440,000 $240,000 $4,459 4.98%
    40-60% 12 $2,600,000 $216,667 $3,208 4.76%
    60-80% 35 $10,195,000 $291,286 $4,544 4.72%
    80-100% 80 $23,300,000 $291,250 $6,553 4.55%
    Over 100% 1 $335,000 $335,000 $11,244 4.75%
    Under 20% 1 $65,000 $65,000 $3,360 4.38%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Resurgent Capital Services L.P. Conventional home mortgage Struggling to pay mortgage 1 50.0%
    Resurgent Capital Services L.P. Conventional home mortgage Trouble during payment process 1 50.0%