Residential Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 549300SCFWZXMDMZPE93

Tax ID: 92-0164378

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 Las Vegas 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.

    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% 11/23/24
    30 Year Conventional Refi 6.44% 11/23/24
    30 Year Cash-out Refi 6.65% 11/23/24
    30 Year FHA Purchase 7.12% 11/23/24
    30 Year VA Purchase 6.19% 11/23/24
    30 Year VA Refi 6.17% 11/23/24
    30 Year USDA Purchase 6.46% 11/23/24
    15 Year Conventional Purchase 6.11% 11/23/24
    15 Year Conventional Refi 5.94% 11/23/24
    15 Year Cash-out Refi 5.94% 11/23/24
    15 Year VA Purchase 6.05% 11/23/24
    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

    1,937

    Origination Dollar Volume (All Markets)

    $669,995,000
    Show all (8) awards

    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) 1,375 $481,365,000 $350,084 $6,868 4.57%
    Outside of Metro Areas 331 $108,995,000 $329,290 $5,905 4.58%
    FAIRBANKS, AK (FHA|USDA|VA) 152 $43,950,000 $289,145 $7,755 4.57%
    Juneau, AK (FHA|USDA|VA) 53 $23,735,000 $447,830 $8,533 4.89%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 10 $5,220,000 $522,000 $5,515 5.30%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,290,000 $322,500 $9,183 4.66%
    Ketchikan, AK (FHA|USDA|VA) 3 $1,275,000 $425,000 $4,485 4.50%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,190,000 $595,000 $11,912 4.31%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $865,000 $865,000 $9,641 2.63%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $700,000 $350,000 $10,212 3.13%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $505,000 $505,000 $2,208 5.99%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $495,000 $495,000 $15,333 5.50%
    TUCSON, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $4,626 6.50%
    Pahrump, NV (FHA|USDA|VA) 1 $105,000 $105,000 $2,822 4.00%
    Residential Mortgage's top markets include Anchorage, Fairbanks, Juneau, Phoenix, and Las Vegas among others.

    Their top states include:
  • Alaska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Nevada (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: 33
    MATANUSKA VALLEY FEDERAL CREDIT UNION
    Similarity Rank: 36
    CREDIT UNION 1
    Similarity Rank: 84
    First National Bank Alaska
    Similarity Rank: 230
    First Credit Union
    Similarity Rank: 450
    AERO Federal Credit Union
    Similarity Rank: 894
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1598
    OneAZ Credit Union
    Similarity Rank: 1651
    ARIZONA CENTRAL
    Similarity Rank: 1672
    THE ANDERSON FINANCIAL GROUP, INC.
    Similarity Rank: 1768

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,401 $474,435,000 $338,640 $5,144 4.67%
    VA 315 $129,175,000 $410,079 $10,768 4.29%
    FHA 190 $57,540,000 $302,842 $8,560 4.42%
    USDA 31 $8,845,000 $285,323 $6,887 4.34%

    For 2022, Residential Mortgage's most frequently originated type of loan was Conventional, with 1,401 originations. Their 2nd most popular type was VA, with 315 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,684 $590,290,000 $350,529 $6,896 4.66%
    Cash Out Refi 142 $44,220,000 $311,408 $7,423 4.25%
    Refi 111 $35,485,000 $319,685 $5,189 3.79%

    For 2022, Residential Mortgage's most frequently cited loan purpose was Home Purchase, with 1,684 originations. The 2nd most popular reason was Cash Out Refi, with 142 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,825 $635,155,000 $348,030 $7,044 4.63%
    15 Year 105 $33,015,000 $314,429 $4,837 3.74%
    20 Year 7 $1,825,000 $260,714 $3,827 4.25%

    For 2022, Residential Mortgage's most frequently cited loan duration was 30 Year, with 1,825 originations. The 2nd most popular length was 15 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 593 $181,245,000 $305,641
    $2k-3k 380 $112,340,000 $295,632
    $3k-4k 292 $99,790,000 $341,747
    $5k+ 291 $146,285,000 $502,698
    $4k-5k 164 $62,890,000 $383,476
    $<1k 77 $24,835,000 $322,532

    Residential Mortgage's average total fees were $7,044, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 593 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 600 $209,310,000 $348,850
    4-5% 503 $176,475,000 $350,845
    3-4% 489 $165,125,000 $337,679
    2.5-3% 176 $65,650,000 $373,011
    6-7% 126 $41,240,000 $327,302
    <2.5% 28 $8,450,000 $301,786
    7-8% 15 $3,745,000 $249,667

    During 2022, Residential Mortgage's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 5-6%, with 600 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,078 $325,010,000 $301,494 $6,092 4.56%
    $400k-600k 433 $205,085,000 $473,637 $8,981 4.64%
    $100k-200k 257 $40,515,000 $157,646 $3,906 4.61%
    $600k-1MM 131 $93,575,000 $714,313 $11,221 4.50%
    $100,000 or less 36 $2,860,000 $79,444 $2,773 4.53%
    $1MM+ 2 $2,950,000 $1,475,000 $16,134 4.06%

    2022 saw Residential Mortgage place emphasis on $200k-400k loans with 1,078 originations, totaling $325,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 525 $192,215,000 $366,124 $7,749 4.70%
    $75k-100k 452 $142,320,000 $314,867 $7,162 4.59%
    $50k-75k 372 $92,760,000 $249,355 $5,646 4.43%
    $150k-250k 342 $151,450,000 $442,836 $7,010 4.63%
    $250k+ 139 $71,975,000 $517,806 $6,689 4.74%
    $50k or less 101 $17,565,000 $173,911 $3,957 4.18%

    Residential Mortgage lent most frequently to those with incomes in the $100k-150k range, with 525 originations. The second most popular income band? $75k-100k, with 452 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 317 $106,875,000 $337,145 $5,811 4.54%
    20-30% 291 $97,105,000 $333,694 $5,512 4.46%
    50-60% 95 $37,535,000 $395,105 $10,414 4.39%
    <20% 94 $30,040,000 $319,574 $5,261 4.46%
    42% 94 $31,340,000 $333,404 $6,405 4.56%
    43% 91 $32,035,000 $352,033 $6,225 4.93%
    37% 90 $31,710,000 $352,333 $7,185 4.62%
    44% 90 $31,380,000 $348,667 $7,101 4.77%
    45% 90 $32,730,000 $363,667 $6,052 4.51%
    48% 90 $31,740,000 $352,667 $8,754 4.76%
    41% 83 $29,225,000 $352,108 $6,403 4.68%
    46% 78 $27,900,000 $357,692 $8,719 4.74%
    38% 76 $27,540,000 $362,368 $7,044 4.87%
    49% 75 $26,845,000 $357,933 $7,230 4.80%
    47% 73 $26,935,000 $368,973 $8,186 4.62%
    39% 72 $24,190,000 $335,972 $7,598 4.50%
    36% 65 $22,445,000 $345,308 $6,980 4.27%
    40% 64 $19,620,000 $306,563 $6,805 4.43%
    >60% 3 $1,095,000 $365,000 $12,960 3.58%

    Residential Mortgage lent most frequently to those with DTI ratios of 30-36%, with 317 originations. The next most common DTI ratio? 20-30%, with 291 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,432 $498,660,000 $348,226 $6,726 4.57%
    Not provided 181 $64,385,000 $355,718 $6,556 4.59%
    American Indian 163 $53,495,000 $328,190 $7,795 4.70%
    Asian 101 $34,405,000 $340,644 $6,991 4.48%
    Black 44 $13,650,000 $310,227 $8,108 4.58%
    Native Hawaiian or Islander 16 $5,400,000 $337,500 $8,663 5.27%

    Approval Rates

    Total approvals of all applications
    96.66%

    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
    77.65%

    Residential Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,937 $669,995,000 $345,893

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,937 $669,995,000 $345,893

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $6,065,000 $183,788 $4,435 4.53%
    40-60% 114 $30,810,000 $270,263 $4,130 4.57%
    60-80% 478 $162,790,000 $340,565 $5,467 4.59%
    80-100% 1,182 $416,800,000 $352,623 $6,423 4.61%
    Over 100% 118 $51,470,000 $436,186 $16,634 4.33%
    Under 20% 7 $665,000 $95,000 $3,076 4.86%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Rocket Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 30.8%
    Rocket Mortgage, LLC Conventional home mortgage Closing on a mortgage 1 7.7%
    Rocket Mortgage, LLC Conventional home mortgage Struggling to pay mortgage 1 7.7%
    Rocket Mortgage, LLC Conventional home mortgage Trouble during payment process 3 23.1%
    Rocket Mortgage, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 15.4%
    Rocket Mortgage, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 7.7%
    Rocket Mortgage, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%