Rm Actual Mortgage Rates, Fees & Info

BAYAMON,

LEI: 549300M0I314MIP2FT97

Tax ID: 66-0690568

5 stars - Updated: 10/29/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Rm Actual Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. They also have a high ratio of USDA loans. Rm Actual Mortgage has an average proportion of conventional loans. Their top markets by origination volume include: San Juan, Ponce, Arecibo, Coco, and Guayama among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Rm Actual Mortgage 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. Rm Actual Mortgage 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.66% 10/29/24
30 Year FHA Purchase 7.58% 10/29/24
30 Year FHA Refi 7.52% 10/29/24
30 Year VA Purchase 6.80% 10/29/24
30 Year USDA Purchase 7.17% 10/29/24
15 Year Conventional Refi 7.12% 10/29/24
15 Year Cash-out Refi 7.12% 10/29/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Rm Actual Mortgage Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Rm Actual Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

236

Origination Dollar Volume (All Markets)

$26,570,000

Awards

RM ACTUAL MORTGAGE FHA Loans gold RM ACTUAL MORTGAGE USDA Loans gold RM ACTUAL MORTGAGE FHA Loans bronze
Show all (3) awards

Relative Rate

Rm Actual Mortgage's average 30 year fixed mortgage rate was 6.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.32%.

Relative Fees (Closing Costs)

Rm Actual Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $7,384.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 181 $20,275,000 $112,017 $7,383 6.75%
PONCE, PR (FHA|USDA|VA) 25 $3,295,000 $131,800 $8,390 7.05%
Arecibo, PR (FHA|USDA|VA) 8 $850,000 $106,250 $7,457 7.06%
Coco, PR (FHA|USDA|VA) 6 $660,000 $110,000 $6,271 6.58%
GUAYAMA, PR (FHA|USDA|VA) 7 $595,000 $85,000 $5,638 6.96%
Coamo, PR (FHA|USDA|VA) 3 $275,000 $91,667 $5,312 6.50%
SAN GERMÁN, PR (FHA|USDA|VA) 2 $270,000 $135,000 $9,067 7.50%
Santa Isabel, PR (FHA|USDA|VA) 2 $180,000 $90,000 $5,974 6.75%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 2 $170,000 $85,000 $6,479 7.00%
Rm Actual Mortgage's top markets include San Juan, Ponce, Arecibo, Coco, and Guayama among others.

Their top states include:
  • Puerto Rico (FHA|USDA|VA)
  • Similar Lenders

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

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 128 $15,090,000 $117,891 $8,174 6.68%
    USDA 82 $8,230,000 $100,366 $6,180 6.74%
    Conventional 19 $2,095,000 $110,263 $7,273 7.99%
    VA 7 $1,155,000 $165,000 $7,487 6.75%

    For 2023, Rm Actual Mortgage's most frequently originated type of loan was FHA, with 128 originations. Their 2nd most popular type was USDA, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 230 $26,010,000 $113,087 $7,375 6.81%
    Cash Out Refi 5 $405,000 $81,000 $7,144 6.70%
    Refi 1 $155,000 $155,000 $10,543 6.75%

    For 2023, Rm Actual Mortgage's most frequently cited loan purpose was Home Purchase, with 230 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 234 $26,360,000 $112,650 $7,384 6.80%
    Other 2 $210,000 $105,000 $0 0.00%

    For 2023, Rm Actual Mortgage's most frequently cited loan duration was 30 Year, with 234 originations. The 2nd most popular length was Other, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 93 $8,495,000 $91,344
    $3k-4k 62 $6,880,000 $110,968
    $1k-2k 35 $2,645,000 $75,571
    $4k-5k 20 $3,340,000 $167,000
    $5k+ 19 $4,335,000 $228,158
    $<1k 2 $250,000 $125,000

    Rm Actual Mortgage's average total fees were $7,384, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 93 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 155 $17,515,000 $113,000
    7-8% 58 $5,790,000 $99,828
    5-6% 14 $2,330,000 $166,429
    Over 8% 7 $725,000 $103,571

    During 2023, Rm Actual Mortgage's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 122 $9,470,000 $77,623 $6,046 6.92%
    $100k-200k 99 $13,365,000 $135,000 $7,962 6.74%
    $200k-400k 15 $3,735,000 $249,000 $14,515 6.27%

    2023 saw Rm Actual Mortgage place emphasis on $100,000 or less loans with 122 originations, totaling $9,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 164 $14,960,000 $91,220 $6,488 6.82%
    $50k-75k 47 $7,035,000 $149,681 $8,750 6.70%
    $75k-100k 14 $2,640,000 $188,571 $11,495 6.75%
    $100k-150k 8 $1,540,000 $192,500 $10,799 7.16%
    $250k+ 3 $395,000 $131,667 $6,832 6.92%

    Rm Actual Mortgage lent most frequently to those with incomes in the $50k or less range, with 164 originations. The second most popular income band? $50k-75k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $4,720,000 $112,381 $7,279 6.88%
    20-30% 24 $2,550,000 $106,250 $7,173 6.97%
    37% 18 $1,940,000 $107,778 $7,228 6.88%
    36% 17 $1,825,000 $107,353 $7,840 6.97%
    44% 16 $1,850,000 $115,625 $6,821 6.42%
    41% 15 $1,545,000 $103,000 $6,724 7.03%
    50-60% 14 $2,320,000 $165,714 $9,843 6.50%
    39% 14 $1,600,000 $114,286 $7,662 6.55%
    43% 14 $1,640,000 $117,143 $7,884 6.55%
    40% 12 $1,470,000 $122,500 $7,714 6.83%
    42% 9 $975,000 $108,333 $7,221 7.03%
    38% 9 $975,000 $108,333 $6,511 6.53%
    49% 9 $925,000 $102,778 $7,693 6.81%
    45% 8 $780,000 $97,500 $6,667 6.84%
    46% 4 $280,000 $70,000 $6,324 6.63%
    47% 3 $345,000 $115,000 $6,345 7.25%
    48% 3 $285,000 $95,000 $6,371 7.29%
    <20% 2 $230,000 $115,000 $6,516 6.88%

    Rm Actual Mortgage lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 235 $26,465,000 $112,617 $7,387 6.80%
    Black 1 $105,000 $105,000 $6,687 7.50%

    Approval Rates

    Total approvals of all applications
    83.53%

    Rm Actual Mortgage has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.63%

    Rm Actual Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 236 $26,570,000 $112,585

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    236 $26,570,000 $112,585

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $155,000 $155,000 $10,543 6.75%
    40-60% 26 $1,590,000 $61,154 $5,078 6.76%
    60-80% 100 $9,040,000 $90,400 $6,679 6.89%
    80-100% 104 $14,810,000 $142,404 $8,225 6.74%
    Over 100% 5 $975,000 $195,000 $15,575 6.65%