Residential Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 549300SCFWZXMDMZPE93

Tax ID: 92-0164378

4.8 stars - out of 5 stars, based on 62 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Residential Mortgage is a small mortgage company specializing in Home Purchase and Refi loans. Residential Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Anchorage, Fairbanks, Juneau, Phoenix, and Seattle among others. Residential Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Residential Mortgage is typically an average fee lendor.


Originations

3,867

Origination Dollar Volume (All Markets)

$1,233,595,000
Show all (13) awards

Relative Rate

Residential Mortgage 's average 30 year fixed rate mortgage of loans were 2.83%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.32%.

Relative Fees

Residential Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,914.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ANCHORAGE, AK (FHA|USDA|VA) 2,719 $885,995,000 $325,853 $5,714 2.76%
Outside of Metro Areas 705 $204,545,000 $290,135 $4,649 2.86%
FAIRBANKS, AK (FHA|USDA|VA) 234 $66,580,000 $284,530 $6,285 2.76%
Juneau, AK (FHA|USDA|VA) 136 $50,410,000 $370,662 $7,928 2.78%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 15 $4,295,000 $286,333 $4,158 2.79%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 10 $4,290,000 $429,000 $8,500 2.91%
Ketchikan, AK (FHA|USDA|VA) 11 $3,695,000 $335,909 $8,325 2.77%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 8 $3,330,000 $416,250 $3,752 2.83%
BOULDER, CO (FHA|USDA|VA) 1 $1,455,000 $1,455,000 $54,418 2.50%
BOISE CITY, ID (FHA|USDA|VA) 4 $1,280,000 $320,000 $4,894 3.19%
FORT COLLINS, CO (FHA|USDA|VA) 2 $930,000 $465,000 $7,535 3.13%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $725,000 $725,000 $3,168 2.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $720,000 $360,000 $5,279 3.06%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $620,000 $310,000 $3,275 3.38%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $570,000 $285,000 $6,005 2.63%
TUCSON, AZ (FHA|USDA|VA) 3 $565,000 $188,333 $2,328 3.04%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $550,000 $275,000 $5,950 2.81%
Jackson, WY-ID (FHA|USDA|VA) 1 $525,000 $525,000 $8,216 3.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $505,000 $505,000 $3,801 2.25%
Moses Lake, WA (FHA|USDA|VA) 2 $500,000 $250,000 $2,961 2.94%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $465,000 $465,000 $2,680 2.63%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $415,000 $415,000 $4,440 2.75%
YAKIMA, WA (FHA|USDA|VA) 1 $195,000 $195,000 $5,977 2.88%
Pahrump, NV (FHA|USDA|VA) 1 $155,000 $155,000 $2,472 2.50%
BELLINGHAM, WA (FHA|USDA|VA) 1 $155,000 $155,000 $3,360 3.00%
RENO, NV (FHA|USDA|VA) 1 $125,000 $125,000 $3,355 2.75%

Residential Mortgage 's top markets include Anchorage, Fairbanks, Juneau, Phoenix, and Seattle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,828 $876,490,000 $309,933 $4,747 2.84%
VA 617 $232,355,000 $376,588 $7,988 2.57%
FHA 336 $100,310,000 $298,542 $7,676 2.64%
USDA 86 $24,440,000 $284,186 $5,900 2.73%

For the 2021 period, Residential Mortgage 's most frequently originated loan type of loans were Conventional, with 2,828 originations. Their 2nd most popular type is VA, with 617 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,353 $784,445,000 $333,381 $5,859 2.79%
Refi 1,127 $331,375,000 $294,033 $4,669 2.72%
Cash Out Refi 387 $117,775,000 $304,328 $7,026 2.87%

For the 2021, Residential Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 2,353 originations. The 2nd most popular reason of loans were Refi, with 1,127 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,359 $1,092,525,000 $325,253 $5,914 2.83%
15 Year 438 $119,230,000 $272,215 $4,475 2.42%
20 Year 47 $14,035,000 $298,617 $4,224 2.78%
Other 17 $6,725,000 $395,588 $4,081 2.51%
10 Year 6 $1,080,000 $180,000 $2,893 2.15%

For the 2021, Residential Mortgage 's most frequently cited loan length of loans were 30 Year, with 3,359 originations. The 2nd most popular length of loans were 15 Year, with 438 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,428 $420,810,000 $294,685
$2k-3k 767 $217,765,000 $283,918
$3k-4k 761 $255,305,000 $335,486
$5k+ 385 $174,625,000 $453,571
$<1k 257 $86,435,000 $336,323

$5,914 of loans were Residential Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,428 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,263 $729,365,000 $322,300
<2.5% 963 $309,325,000 $321,210
3-4% 640 $194,550,000 $303,984
4-5% 1 $355,000 $355,000

During 2021, Residential Mortgage 's average interest rate of loans were 2.83%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,263 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,341 $689,695,000 $294,616 $5,546 2.79%
$400k-600k 698 $329,260,000 $471,719 $7,259 2.78%
$100k-200k 617 $99,105,000 $160,624 $3,506 2.77%
$600k-1MM 149 $104,835,000 $703,591 $8,386 2.72%
$100,000 or less 57 $4,435,000 $77,807 $2,965 2.70%
$1MM+ 5 $6,265,000 $1,253,000 $20,789 2.53%

2021 saw Residential Mortgage place emphasis on $200k-400k loans with 2,341 originations, totaling $689,695,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 940 $325,470,000 $346,245 $5,905 2.80%
$75k-100k 842 $256,830,000 $305,024 $6,076 2.80%
$50k-75k 782 $202,280,000 $258,670 $5,359 2.79%
$150k-250k 564 $227,090,000 $402,642 $6,219 2.80%
$50k or less 266 $49,000,000 $184,211 $3,913 2.73%
$250k+ 196 $87,620,000 $447,041 $5,672 2.80%

Residential Mortgage lent most frequently to those with incomes in the $100k-150k range, with 940 originations. The second most popular income band? $75k-100k, with 842 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 739 $225,445,000 $305,068 $5,065 2.79%
30-36% 648 $207,090,000 $319,583 $5,476 2.80%
<20% 250 $70,940,000 $283,760 $4,485 2.75%
40% 171 $56,675,000 $331,433 $6,047 2.82%
44% 156 $52,570,000 $336,987 $5,997 2.83%
43% 152 $49,100,000 $323,026 $5,856 2.82%
38% 146 $46,170,000 $316,233 $6,085 2.82%
41% 141 $47,175,000 $334,574 $5,465 2.83%
37% 137 $42,655,000 $311,350 $5,638 2.83%
50-60% 136 $48,270,000 $354,926 $8,442 2.64%
42% 135 $43,285,000 $320,630 $5,766 2.77%
45% 131 $42,535,000 $324,695 $6,749 2.76%
39% 129 $42,495,000 $329,419 $5,783 2.84%
46% 111 $37,785,000 $340,405 $6,608 2.76%
47% 107 $36,515,000 $341,262 $6,590 2.81%
49% 103 $34,515,000 $335,097 $6,328 2.75%
48% 99 $33,955,000 $342,980 $6,443 2.80%
36% 95 $29,205,000 $307,421 $5,659 2.78%
>60% 4 $1,910,000 $477,500 $7,918 2.75%

Residential Mortgage lent most frequently to those with DTI ratios of 20-30%, with 739 originations. The next most common DTI ratio? 30-36%, with 648 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,959 $944,475,000 $319,187 $5,561 2.79%
Not provided 334 $107,790,000 $322,725 $5,797 2.75%
American Indian 295 $92,095,000 $312,186 $6,434 2.78%
Asian 186 $57,550,000 $309,409 $5,662 2.78%
Black 66 $22,740,000 $344,545 $6,715 2.74%
Native Hawaiian 26 $8,760,000 $336,923 $6,695 2.62%
Asian Indian 1 $185,000 $185,000 $2,860 2.88%

Approval Rates

Total approvals of all applications
96.21%

Residential Mortgage 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
82.63%

Residential Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,867 $1,233,595,000 $319,006

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,867 $1,233,595,000 $319,006

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 77 $11,815,000 $153,442 $3,470 2.71%
40-60% 291 $73,755,000 $253,454 $4,115 2.69%
60-80% 1,133 $350,125,000 $309,025 $5,247 2.86%
80-100% 1,913 $645,155,000 $337,248 $5,503 2.79%
Over 100% 181 $70,245,000 $388,094 $13,489 2.61%
Under 20% 3 $275,000 $91,667 $2,205 2.50%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Residential Home Mortgage Corporation Conventional home mortgage Trouble during payment process 1 100.0%