Residential Mortgage Rates, Fees & Info
Anchorage, AKLEI: 549300SCFWZXMDMZPE93
Tax ID: 92-0164378
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Mortgage Data
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 Denver among others. We have data for 27 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 | 6.48% | 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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This is not an official calculator from Residential Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,575Origination Dollar Volume (All Markets)
$1,420,125,000Awards
RESIDENTIAL MORTGAGE - 2020
RESIDENTIAL MORTGAGE is a 2020 , due to their low .
For 2020, 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) | 3,246 | $1,036,150,000 | $319,208 | $5,264 | 2.95% |
| Outside of Metro Areas | 734 | $205,340,000 | $279,755 | $4,597 | 3.07% |
| FAIRBANKS, AK (FHA|USDA|VA) | 331 | $90,295,000 | $272,795 | $5,655 | 3.01% |
| Juneau, AK (FHA|USDA|VA) | 191 | $66,045,000 | $345,785 | $6,584 | 3.01% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 20 | $5,570,000 | $278,500 | $3,865 | 3.10% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 9 | $2,815,000 | $312,778 | $3,494 | 3.21% |
| Ketchikan, AK (FHA|USDA|VA) | 8 | $2,570,000 | $321,250 | $7,913 | 3.16% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $2,140,000 | $356,667 | $4,196 | 3.02% |
| BOISE CITY, ID (FHA|USDA|VA) | 4 | $1,430,000 | $357,500 | $4,566 | 3.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $4,981 | 2.66% |
| BELLINGHAM, WA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,152 | 3.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,458 | 2.94% |
| WALLA WALLA, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $4,775 | 2.94% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,641 | 2.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $10,508 | 2.75% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,173 | 2.88% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,358 | 3.38% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,215 | 3.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,597 | 2.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,136 | 3.13% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,516 | 3.88% |
| Outside of Metro Areas | 1 | $325,000 | $325,000 | $2,277 | 2.63% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,651 | 3.13% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,173 | 2.75% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,058 | 3.25% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,900 | 3.50% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,723 | 2.50% |
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.
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Product Mix
For 2020, Residential Mortgage's most frequently originated type of loan was Conventional, with 3,408 originations. Their 2nd most popular type was VA, with 758 originations.
Loan Reason
For 2020, Residential Mortgage's most frequently cited loan purpose was Home Purchase, with 2,319 originations. The 2nd most popular reason was Refi, with 1,799 originations.
Loan Duration/Length
For 2020, Residential Mortgage's most frequently cited loan duration was 30 Year, with 3,738 originations. The 2nd most popular length was 15 Year, with 702 originations.
Origination Fees/Closing Costs
Residential Mortgage's average total fees were $5,559, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,764 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 2,278 | $714,160,000 | $313,503 |
| 3-4% | 1,627 | $509,145,000 | $312,935 |
| <2.5% | 634 | $188,650,000 | $297,555 |
| 4-5% | 36 | $8,170,000 | $226,944 |
During 2020, Residential Mortgage's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,278 originations.
Loan Sizing
2020 saw Residential Mortgage place emphasis on $200k-400k loans with 2,766 originations, totaling $806,940,000 in origination value.
Applicant Income
Residential Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,064 originations. The second most popular income band? $75k-100k, with 884 originations.
Applicant Debt to Income Ratio
Residential Mortgage lent most frequently to those with DTI ratios of 20-30%, with 923 originations. The next most common DTI ratio? 30-36%, with 767 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.78%
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 origination83.96%
Residential Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,575 | $1,420,125,000 | $310,410 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 4,575 | $1,420,125,000 | $310,410 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Residential Mortgage Solutions, Inc. | Conventional home mortgage | Incorrect information on your report | 1 | 100.0% |