Residential Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 549300SCFWZXMDMZPE93

Tax ID: 92-0164378

5 stars - Updated: 10/29/24 - out of 5 stars, based on 37 reviews

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

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Mortgage Data

Review & Overview

Residential Mortgage is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Anchorage, Portland, Fairbanks, Phoenix, and Juneau among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

Residential Mortgage 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. Residential 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 6.48% 10/29/24
30 Year Conventional Refi 6.44% 10/29/24
30 Year Cash-out Refi 6.65% 10/29/24
30 Year FHA Purchase 7.12% 10/29/24
30 Year VA Purchase 6.19% 10/29/24
30 Year VA Refi 6.17% 10/29/24
30 Year USDA Purchase 6.46% 10/29/24
15 Year Conventional Purchase 6.11% 10/29/24
15 Year Conventional Refi 5.94% 10/29/24
15 Year Cash-out Refi 5.94% 10/29/24
15 Year VA Purchase 6.05% 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.

Residential Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Residential 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

1,377

Origination Dollar Volume (All Markets)

$525,985,000
Show all (9) awards

Relative Rate

Residential Mortgage's average 30 year fixed mortgage rate was 6.29%.

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

This yields a difference of -0.19%.

Relative Fees (Closing Costs)

Residential Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $8,000.

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
ANCHORAGE, AK (FHA|USDA|VA) 923 $345,085,000 $373,873 $7,266 6.29%
Outside of Metro Areas 186 $66,880,000 $359,570 $6,077 6.48%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 69 $31,195,000 $452,101 $11,249 6.07%
FAIRBANKS, AK (FHA|USDA|VA) 61 $20,035,000 $328,443 $9,022 6.35%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 36 $18,540,000 $515,000 $10,488 5.89%
Juneau, AK (FHA|USDA|VA) 29 $11,855,000 $408,793 $7,310 6.36%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 15 $5,105,000 $340,333 $10,859 4.70%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $3,470,000 $578,333 $8,943 5.94%
BOISE CITY, ID (FHA|USDA|VA) 2 $2,130,000 $1,065,000 $5,769 6.25%
Ketchikan, AK (FHA|USDA|VA) 5 $1,895,000 $379,000 $3,600 7.00%
LONGVIEW, WA (FHA|USDA|VA) 5 $1,895,000 $379,000 $10,425 6.49%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,770,000 $442,500 $5,167 6.31%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 3 $1,635,000 $545,000 $7,569 6.79%
SALT LAKE CITY, UT (FHA|USDA|VA) 2 $1,630,000 $815,000 $4,935 6.38%
RENO, NV (FHA|USDA|VA) 2 $1,140,000 $570,000 $18,827 6.31%
BEND, OR (FHA|USDA|VA) 2 $1,070,000 $535,000 $11,320 6.13%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $1,030,000 $515,000 $8,507 6.93%
Breckenridge, CO (FHA|USDA|VA) 1 $925,000 $925,000 $12,593 5.63%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $740,000 $370,000 $4,847 6.31%
Klamath Falls, OR (FHA|USDA|VA) 1 $725,000 $725,000 $25,113 6.50%
SALEM, OR (FHA|USDA|VA) 2 $610,000 $305,000 $9,887 5.75%
BELLINGHAM, WA (FHA|USDA|VA) 1 $555,000 $555,000 $9,227 7.99%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $545,000 $545,000 $10,396 7.38%
Shelton, WA (FHA|USDA|VA) 1 $505,000 $505,000 $24,414 5.25%
FORT COLLINS, CO (FHA|USDA|VA) 1 $475,000 $475,000 $9,830 7.63%
WENATCHEE, WA (FHA|USDA|VA) 1 $455,000 $455,000 $7,226 7.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $445,000 $445,000 $19,306 4.88%
Centralia, WA (FHA|USDA|VA) 2 $420,000 $210,000 $5,628 6.69%
GREELEY, CO (FHA|USDA|VA) 1 $385,000 $385,000 $0 6.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $375,000 $375,000 $16,077 6.63%
Moses Lake, WA (FHA|USDA|VA) 1 $345,000 $345,000 $7,023 7.13%
ST. GEORGE, UT (FHA|USDA|VA) 1 $315,000 $315,000 $3,473 6.12%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $3,763 6.75%
The Dalles, OR (FHA|USDA|VA) 1 $305,000 $305,000 $10,711 5.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $8,705 6.99%
Prineville, OR (FHA|USDA|VA) 1 $285,000 $285,000 $19,191 6.63%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $275,000 $275,000 $10,450 7.49%
PUEBLO, CO (FHA|USDA|VA) 1 $235,000 $235,000 $5,446 7.25%
TWIN FALLS, ID (FHA|USDA|VA) 1 $95,000 $95,000 $3,298 6.75%
Residential Mortgage's top markets include Anchorage, Portland, Fairbanks, Phoenix, and Juneau among others.

Their top states include:
  • Alaska (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

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

    TRUE NORTH FEDERAL CREDIT UNION
    Similarity Rank: 12
    GUARANTY MORTGAGE SERVICE, INC.
    Similarity Rank: 27
    CREDIT UNION 1
    Similarity Rank: 48
    First National Bank Alaska
    Similarity Rank: 100
    NuVision Federal Credit Union
    Similarity Rank: 782
    CREDIT UNION WEST
    Similarity Rank: 814
    NEST HOME LENDING, LLC
    Similarity Rank: 871
    OneAZ Credit Union
    Similarity Rank: 924
    Canyon State Credit Union
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,039 $396,825,000 $381,930 $6,614 6.29%
    FHA 170 $56,750,000 $333,824 $11,349 6.41%
    VA 162 $70,590,000 $435,741 $10,241 6.13%
    USDA 6 $1,820,000 $303,333 $5,647 6.40%

    For 2023, Residential Mortgage's most frequently originated type of loan was Conventional, with 1,039 originations. Their 2nd most popular type was FHA, with 170 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,301 $495,845,000 $381,126 $7,935 6.27%
    Cash Out Refi 39 $12,205,000 $312,949 $8,068 6.82%
    Refi 37 $17,935,000 $484,730 $7,839 6.33%

    For 2023, Residential Mortgage's most frequently cited loan purpose was Home Purchase, with 1,301 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,338 $514,590,000 $384,596 $8,000 6.29%
    15 Year 38 $10,850,000 $285,526 $4,801 6.08%
    20 Year 1 $545,000 $545,000 $2,310 7.63%

    For 2023, Residential Mortgage's most frequently cited loan duration was 30 Year, with 1,338 originations. The 2nd most popular length was 15 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 352 $184,530,000 $524,233
    $1k-2k 278 $92,180,000 $331,583
    $3k-4k 259 $87,445,000 $337,625
    $2k-3k 198 $58,340,000 $294,646
    $4k-5k 183 $70,785,000 $386,803
    $<1k 45 $13,225,000 $293,889

    Residential Mortgage's average total fees were $8,000, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 352 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 750 $283,010,000 $377,347
    5-6% 353 $140,215,000 $397,210
    7-8% 174 $64,150,000 $368,678
    4-5% 88 $35,540,000 $403,864
    <2.5% 5 $75,000 $15,000
    3-4% 5 $2,385,000 $477,000
    Over 8% 2 $610,000 $305,000

    During 2023, Residential Mortgage's average interest rate for loans was 6.29%, while their most frequently originated rate bucket for loans was 6-7%, with 750 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 689 $209,445,000 $303,984 $7,226 6.35%
    $400k-600k 394 $189,720,000 $481,523 $9,537 6.28%
    $100k-200k 141 $21,685,000 $153,794 $4,001 6.29%
    $600k-1MM 109 $78,025,000 $715,826 $10,803 6.22%
    $100,000 or less 25 $1,715,000 $68,600 $2,541 5.24%
    $1MM+ 19 $25,395,000 $1,336,579 $9,134 6.04%

    2023 saw Residential Mortgage place emphasis on $200k-400k loans with 689 originations, totaling $209,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 415 $149,665,000 $360,639 $8,778 6.31%
    $150k-250k 350 $156,850,000 $448,143 $8,764 6.33%
    $75k-100k 235 $70,915,000 $301,766 $7,787 6.26%
    $50k-75k 186 $43,550,000 $234,140 $6,161 6.11%
    $250k+ 159 $100,455,000 $631,792 $6,871 6.43%
    $50k or less 32 $4,550,000 $142,188 $4,015 6.13%

    Residential Mortgage lent most frequently to those with incomes in the $100k-150k range, with 415 originations. The second most popular income band? $150k-250k, with 350 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 208 $77,790,000 $373,990 $7,655 6.35%
    20-30% 181 $61,835,000 $341,630 $6,213 6.26%
    48% 83 $33,535,000 $404,036 $7,708 6.40%
    49% 77 $29,615,000 $384,610 $10,429 6.31%
    44% 75 $30,185,000 $402,467 $7,773 6.20%
    40% 70 $25,060,000 $358,000 $6,290 6.50%
    43% 65 $27,725,000 $426,538 $7,650 6.32%
    50-60% 63 $22,815,000 $362,143 $11,100 6.17%
    <20% 63 $23,115,000 $366,905 $5,962 5.76%
    46% 62 $25,390,000 $409,516 $9,948 6.22%
    45% 62 $23,870,000 $385,000 $7,274 6.32%
    41% 58 $23,920,000 $412,414 $7,637 6.34%
    42% 56 $23,110,000 $412,679 $9,118 6.22%
    39% 55 $20,005,000 $363,727 $8,085 6.46%
    37% 53 $20,295,000 $382,925 $8,391 6.28%
    47% 51 $23,275,000 $456,373 $8,677 6.26%
    38% 47 $16,955,000 $360,745 $7,248 6.40%
    36% 46 $16,300,000 $354,348 $5,533 6.39%
    >60% 2 $1,190,000 $595,000 $16,234 6.12%

    Residential Mortgage lent most frequently to those with DTI ratios of 30-36%, with 208 originations. The next most common DTI ratio? 20-30%, with 181 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 963 $371,665,000 $385,945 $7,783 6.28%
    Not provided 178 $71,270,000 $400,393 $7,925 6.32%
    American Indian 115 $38,185,000 $332,043 $8,108 6.24%
    Asian 84 $31,970,000 $380,595 $8,620 6.40%
    Black 29 $9,655,000 $332,931 $10,563 6.14%
    Native Hawaiian or Islander 8 $3,240,000 $405,000 $15,654 6.27%

    Approval Rates

    Total approvals of all applications
    96.30%

    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
    76.03%

    Residential Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,377 $525,985,000 $381,979

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,377 $525,985,000 $381,979

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $6,915,000 $177,308 $4,826 6.60%
    40-60% 82 $25,060,000 $305,610 $4,626 6.52%
    60-80% 313 $119,235,000 $380,942 $6,374 6.32%
    80-100% 885 $353,435,000 $399,362 $8,450 6.28%
    Over 100% 52 $21,170,000 $407,115 $15,500 6.22%
    Under 20% 6 $170,000 $28,333 $205 0.98%