R M K Financial Corp. Mortgage Rates, Fees & Info
ONTARIO, CALEI: 549300X72Q5WKCW2QQ95
Tax ID: 33-0750812
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Mortgage Data
Review & Overview
R M K Financial Corp. is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. R M K Financial Corp. has an average proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Philadelphia, Dallas, and San Antonio among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)R M K Financial Corp. has an above average approval rate when compared to the average across all lenders. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.27% | 12/8/24 |
30 Year Conventional Refi | 6.27% | 12/8/24 |
30 Year Cash-out Refi | 6.27% | 12/8/24 |
30 Year FHA Purchase | 6.27% | 12/8/24 |
30 Year FHA Refi | 6.27% | 12/8/24 |
30 Year VA Purchase | 6.27% | 12/8/24 |
15 Year Conventional Purchase | 5.68% | 12/8/24 |
15 Year Conventional Refi | 5.68% | 12/8/24 |
15 Year Cash-out Refi | 5.68% | 12/8/24 |
15 Year FHA Refi | 5.68% | 12/8/24 |
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. |
R M K Financial Corp. Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
100Origination Dollar Volume (All Markets)
$45,960,000Relative Rate
R M K Financial Corp.'s average 30 year fixed mortgage rate was
6.71%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.23%.
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 |
---|---|---|---|---|---|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 33 | $20,405,000 | $618,333 | $0 | 6.76% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 27 | $12,635,000 | $467,963 | $0 | 6.86% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $0 | 6.52% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $0 | 6.75% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $0 | 6.88% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $0 | 6.63% |
BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $0 | 6.67% |
Outside of Metro Areas | 2 | $770,000 | $385,000 | $0 | 7.75% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 6.88% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 6.69% |
STOCKTON, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 6.38% |
VALLEJO, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 7.50% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 6.38% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 4.25% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 6.38% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 6.63% |
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 6.38% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.50% |
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.75% |
MOBILE, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.13% |
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 7.00% |
ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.38% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.88% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
FHA | 89 | $41,405,000 | $465,225 | $0 | 6.71% |
Conventional | 11 | $4,555,000 | $414,091 | $0 | 6.90% |
For 2023, R M K Financial Corp.'s most frequently originated type of loan was FHA, with 89 originations. Their 2nd most popular type was Conventional, with 11 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 91 | $41,975,000 | $461,264 | $0 | 6.78% |
Cash Out Refi | 7 | $2,965,000 | $423,571 | $0 | 6.52% |
Refi | 2 | $1,020,000 | $510,000 | $0 | 5.56% |
For 2023, R M K Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 91 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 99 | $45,945,000 | $464,091 | $0 | 6.71% |
10 Year | 1 | $15,000 | $15,000 | $0 | 9.25% |
For 2023, R M K Financial Corp.'s most frequently cited loan duration was 30 Year, with 99 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
R M K Financial Corp.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 89 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 77 | $36,295,000 | $471,364 |
5-6% | 9 | $3,835,000 | $426,111 |
7-8% | 8 | $3,830,000 | $478,750 |
Over 8% | 4 | $1,410,000 | $352,500 |
4-5% | 1 | $565,000 | $565,000 |
During 2023, R M K Financial Corp.'s average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 77 originations.
Loan Sizing
2023 saw R M K Financial Corp. place emphasis on $400k-600k loans with 40 originations, totaling $19,900,000 in origination value.
Applicant Income
R M K Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 27 originations.
Applicant Debt to Income Ratio
R M K Financial Corp. lent most frequently to those with DTI ratios of 50-60%, with 29 originations. The next most common DTI ratio? 45%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.59%
R M K Financial Corp. has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 100 | $45,960,000 | $459,600 |