Residential Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 549300SCFWZXMDMZPE93

Tax ID: 92-0164378

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Anchorage, Fairbanks, Juneau, Phoenix, and Seattle among others. We have data for 26 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 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.

    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 6.41% 1/29/23
    30 Year Conventional Refi 6.41% 1/29/23
    30 Year Cash-out Refi 6.52% 1/29/23
    30 Year FHA Purchase 7.00% 1/29/23
    30 Year FHA Refi 6.75% 1/29/23
    30 Year VA Purchase 6.07% 1/29/23
    30 Year VA Refi 6.00% 1/29/23
    30 Year USDA Purchase 6.54% 1/29/23
    30 Year USDA Refi 6.63% 1/29/23
    15 Year Conventional Purchase 5.87% 1/29/23
    15 Year Conventional Refi 5.89% 1/29/23
    15 Year Cash-out Refi 5.89% 1/29/23
    15 Year FHA Purchase 6.86% 1/29/23
    15 Year VA Purchase 6.15% 1/29/23
    15 Year VA Refi 6.02% 1/29/23
    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.


    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 mortgage rate was 2.83%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.32%.

    Relative Fees (Closing Costs)

    Residential Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,914.

    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 $4,750.

    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) 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.

    Their top states include:
  • Alaska (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Idaho (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.

    Titan Mortgage Capital, Inc.
    Similarity Rank: 14
    TRUE NORTH FEDERAL CREDIT UNION
    Similarity Rank: 60
    GUARANTY MORTGAGE SERVICE, INC.
    Similarity Rank: 216
    First Credit Union
    Similarity Rank: 378
    CREDIT UNION 1
    Similarity Rank: 450
    First National Bank Alaska
    Similarity Rank: 1008
    ARIZONA CENTRAL
    Similarity Rank: 1166
    AERO Federal Credit Union
    Similarity Rank: 1428
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1950

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Residential Mortgage's most frequently originated type of loan was Conventional, with 2,828 originations. Their 2nd most popular type was VA, with 617 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Residential Mortgage's most frequently cited loan purpose was Home Purchase, with 2,353 originations. The 2nd most popular reason was 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 2021, Residential Mortgage's most frequently cited loan duration was 30 Year, with 3,359 originations. The 2nd most popular length was 15 Year, with 438 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,428 $420,810,000 $294,685
    $2k-3k 767 $217,765,000 $283,918
    $3k-4k 483 $154,245,000 $319,348
    $5k+ 385 $174,625,000 $453,571
    $4k-5k 278 $101,060,000 $363,525
    $<1k 257 $86,435,000 $336,323

    Residential Mortgage's average total fees were $5,914, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.83%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    96.24%

    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
    83.50%

    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%