Rm Actual Mortgage Rates, Fees & Info
BAYAMON,LEI: 549300M0I314MIP2FT97
Tax ID: 66-0690568
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Mortgage Data
Review & Overview
Rm Actual Mortgage is a smaller mortgage company specializing in Home Purchase loans. They also have a high ratio of USDA loans. They have a a high proportion of FHA loans. Rm Actual Mortgage has an average proportion of conventional loans. Their top markets by origination volume include: San Juan, Ponce, Coco, Arecibo, and Santa Isabel among others. We have data for 12 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 an 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.66% | 11/17/24 |
| 30 Year FHA Purchase | 7.58% | 11/17/24 |
| 30 Year FHA Refi | 7.52% | 11/17/24 |
| 30 Year VA Purchase | 6.80% | 11/17/24 |
| 30 Year USDA Purchase | 7.17% | 11/17/24 |
| 15 Year Conventional Refi | 7.12% | 11/17/24 |
| 15 Year Cash-out Refi | 7.12% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
291Origination Dollar Volume (All Markets)
$35,815,000Top 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 |
|---|---|---|---|---|---|
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 224 | $28,310,000 | $126,384 | $6,757 | 3.44% |
| PONCE, PR (FHA|USDA|VA) | 29 | $3,545,000 | $122,241 | $7,041 | 3.44% |
| Coco, PR (FHA|USDA|VA) | 12 | $1,150,000 | $95,833 | $4,975 | 3.35% |
| Arecibo, PR (FHA|USDA|VA) | 9 | $1,145,000 | $127,222 | $7,117 | 3.42% |
| Santa Isabel, PR (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $6,824 | 3.67% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $360,000 | $90,000 | $5,133 | 3.25% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $5,195 | 3.75% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $5,989 | 3.00% |
| Outside of Metro Areas | 2 | $200,000 | $100,000 | $7,197 | 3.38% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,384 | 3.50% |
| Coamo, PR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,052 | 4.00% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,123 | 3.50% |
Their top states include:
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Product Mix
For 2021, Rm Actual Mortgage's most frequently originated type of loan was USDA, with 127 originations. Their 2nd most popular type was FHA, with 123 originations.
Loan Reason
For 2021, Rm Actual Mortgage's most frequently cited loan purpose was Home Purchase, with 274 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2021, Rm Actual Mortgage's most frequently cited loan duration was 30 Year, with 278 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Rm Actual Mortgage's average total fees were $6,570, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 99 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 177 | $22,265,000 | $125,791 |
| 2.5-3% | 94 | $11,380,000 | $121,064 |
| 4-5% | 12 | $1,340,000 | $111,667 |
| 5-6% | 5 | $545,000 | $109,000 |
| <2.5% | 3 | $285,000 | $95,000 |
During 2021, Rm Actual Mortgage's average interest rate for loans was 3.45%, while their most frequently originated rate bucket for loans was 3-4%, with 177 originations.
Loan Sizing
2021 saw Rm Actual Mortgage place emphasis on $100k-200k loans with 169 originations, totaling $22,515,000 in origination value.
Applicant Income
Rm Actual Mortgage lent most frequently to those with incomes in the $50k or less range, with 217 originations. The second most popular income band? $50k-75k, with 45 originations.
Applicant Debt to Income Ratio
Rm Actual Mortgage lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 63 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 288 | $35,510,000 | $123,299 | $6,648 | 3.43% |
| Black | 3 | $305,000 | $101,667 | $5,937 | 3.33% |
Approval Rates
Total approvals of all applications84.69%
Rm Actual Mortgage has a below average approval rate.
Pick Rate
Approvals leading to origination90.03%
Rm Actual Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1151.4 | 1 | $55,000 | $55,000 |
| 1199.64 | 1 | $75,000 | $75,000 |
| 1557.5 | 1 | $75,000 | $75,000 |
| 2532.26 | 1 | $125,000 | $125,000 |
| 2665.91 | 1 | $95,000 | $95,000 |
| 742.65 | 1 | $85,000 | $85,000 |
| NA | 285 | $35,305,000 | $123,877 |