Residential Mortgage Rates, Fees & Info
Anchorage, AKLEI: 549300SCFWZXMDMZPE93
Tax ID: 92-0164378
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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, Fairbanks, Juneau, Phoenix, and Ketchikan among others. We have data for 14 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,036Origination Dollar Volume (All Markets)
$587,050,000RESIDENTIAL MORTGAGE - 2018
RESIDENTIAL MORTGAGE is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 1,462 | $432,910,000 | $296,108 | $6,234 | 4.43% |
Outside of Metro Areas | 341 | $87,555,000 | $256,760 | $5,010 | 4.59% |
FAIRBANKS, AK (FHA|USDA|VA) | 144 | $37,870,000 | $262,986 | $5,659 | 4.49% |
Juneau, AK (FHA|USDA|VA) | 65 | $22,075,000 | $339,615 | $6,876 | 4.63% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 9 | $2,515,000 | $279,444 | $4,221 | 4.89% |
Ketchikan, AK (FHA|USDA|VA) | 7 | $2,045,000 | $292,143 | $9,196 | 4.64% |
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $13,536 | 4.50% |
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,697 | 4.75% |
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,988 | 3.88% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,936 | 4.25% |
TUCSON, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,712 | 4.63% |
Elko, NV (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,434 | 4.50% |
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,224 | 4.75% |
Aberdeen, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,032 | 4.75% |
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.
Similarity Rank: 40
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Similarity Rank: 602
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Similarity Rank: 1030
Similarity Rank: 1058
Similarity Rank: 1113
Product Mix
For 2018, Residential Mortgage's most frequently originated type of loan was Conventional, with 1,292 originations. Their 2nd most popular type was VA, with 392 originations.
Loan Reason
For 2018, Residential Mortgage's most frequently cited loan purpose was Home Purchase, with 1,838 originations. The 2nd most popular reason was Cash Out Refi, with 110 originations.
Loan Duration/Length
For 2018, Residential Mortgage's most frequently cited loan duration was 30 Year, with 1,939 originations. The 2nd most popular length was 15 Year, with 88 originations.
Origination Fees/Closing Costs
Residential Mortgage's average total fees were $6,114, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 658 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 1,645 | $477,545,000 | $290,301 |
3-4% | 274 | $79,680,000 | $290,803 |
5-6% | 111 | $29,035,000 | $261,577 |
2.5-3% | 4 | $540,000 | $135,000 |
<2.5% | 2 | $250,000 | $125,000 |
During 2018, Residential Mortgage's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 1,645 originations.
Loan Sizing
2018 saw Residential Mortgage place emphasis on $200k-400k loans with 1,206 originations, totaling $345,100,000 in origination value.
Applicant Income
Residential Mortgage lent most frequently to those with incomes in the $50k-75k range, with 543 originations. The second most popular income band? $100k-150k, with 476 originations.
Applicant Debt to Income Ratio
Residential Mortgage lent most frequently to those with DTI ratios of 30-36%, with 364 originations. The next most common DTI ratio? 20-30%, with 292 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.31%
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 origination79.32%
Residential Mortgage has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 2,036 | $587,050,000 | $288,335 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 2,036 | $587,050,000 | $288,335 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
RESIDENTIAL MORTGAGE CORP | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |