R M K Financial Corp. Mortgage Rates, Fees & Info

ONTARIO, CA

LEI: 549300X72Q5WKCW2QQ95

Tax ID: 33-0750812

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

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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 a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Washington, Houston, and Bakersfield among others. We have data for 60 markets. (Some data included below & more in-depth data is available with an active subscription.)

R M K Financial Corp. has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. They typically have relatively high 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 6.27% 3/17/24
30 Year Conventional Refi 6.27% 3/17/24
30 Year Cash-out Refi 6.27% 3/17/24
30 Year FHA Purchase 6.27% 3/17/24
30 Year FHA Refi 6.27% 3/17/24
30 Year VA Purchase 6.27% 3/17/24
15 Year Conventional Purchase 5.68% 3/17/24
15 Year Conventional Refi 5.68% 3/17/24
15 Year Cash-out Refi 5.68% 3/17/24
15 Year FHA Refi 5.68% 3/17/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from R M K Financial Corp.. 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

1,022

Origination Dollar Volume (All Markets)

$453,580,000

Relative Rate

R M K Financial Corp.'s average 30 year fixed mortgage rate was 5.44%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.68%.

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) 316 $176,860,000 $559,684 $0 5.35%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 202 $87,650,000 $433,911 $0 5.30%
Outside of Metro Areas 113 $46,975,000 $415,708 $0 5.66%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 58 $22,280,000 $384,138 $0 5.28%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 49 $15,025,000 $306,633 $0 5.09%
BAKERSFIELD, CA (FHA|USDA|VA) 42 $13,020,000 $310,000 $0 5.59%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 30 $11,600,000 $386,667 $0 6.10%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 28 $9,880,000 $352,857 $0 5.32%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 11 $8,465,000 $769,545 $0 5.41%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 14 $7,380,000 $527,143 $0 5.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 21 $7,045,000 $335,476 $0 5.59%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 12 $5,250,000 $437,500 $0 4.92%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 17 $4,005,000 $235,588 $0 5.13%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $3,285,000 $657,000 $0 5.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 11 $2,685,000 $244,091 $0 5.44%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $2,550,000 $425,000 $0 5.23%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 8 $2,390,000 $298,750 $0 5.61%
STOCKTON, CA (FHA|USDA|VA) 5 $2,255,000 $451,000 $0 5.55%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $2,035,000 $678,333 $0 5.92%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $2,015,000 $671,667 $0 5.63%
FRESNO, CA (FHA|USDA|VA) 5 $1,455,000 $291,000 $0 3.78%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $1,410,000 $235,000 $0 5.10%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,400,000 $350,000 $0 4.53%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $1,395,000 $465,000 $0 5.63%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $1,145,000 $1,145,000 $0 6.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,095,000 $365,000 $0 5.67%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $1,090,000 $545,000 $0 6.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $955,000 $318,333 $0 5.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $700,000 $175,000 $0 7.03%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $670,000 $335,000 $0 6.75%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $650,000 $325,000 $0 4.88%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $595,000 $595,000 $0 5.63%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $580,000 $290,000 $0 5.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $495,000 $495,000 $0 5.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 8.75%
PEORIA, IL (FHA|USDA|VA) 1 $405,000 $405,000 $0 5.38%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $400,000 $200,000 $0 5.75%
VALLEJO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $0 7.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $390,000 $195,000 $0 4.69%
SALINAS, CA (FHA|USDA|VA) 1 $385,000 $385,000 $0 4.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $380,000 $190,000 $0 4.38%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $355,000 $355,000 $0 6.63%
TULSA, OK (FHA|USDA|VA) 1 $355,000 $355,000 $0 6.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 6.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $305,000 $305,000 $0 5.50%
MADERA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.88%
Troy, AL (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.88%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $285,000 $285,000 $0 6.25%
STAUNTON, VA (FHA|USDA|VA) 1 $275,000 $275,000 $0 7.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.88%
MERCED, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.50%
Torrington, CT (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.75%
OCALA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 5.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.38%
YUMA, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.13%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.75%
VISALIA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.38%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.13%
LONGVIEW, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.88%
MONROE, LA (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.13%
R M K Financial Corp.'s top markets include Los Angeles, Riverside, Washington, Houston, and Bakersfield among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 650 $286,320,000 $440,492 $0 5.40%
    Conventional 367 $164,475,000 $448,161 $0 5.43%
    VA 5 $2,785,000 $557,000 $0 5.35%

    For 2022, R M K Financial Corp.'s most frequently originated type of loan was FHA, with 650 originations. Their 2nd most popular type was Conventional, with 367 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 756 $340,730,000 $450,701 $0 5.52%
    Cash Out Refi 202 $81,590,000 $403,911 $0 5.29%
    Refi 64 $31,260,000 $488,438 $0 4.44%

    For 2022, R M K Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 756 originations. The 2nd most popular reason was Cash Out Refi, with 202 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,002 $447,410,000 $446,517 $0 5.44%
    15 Year 10 $2,430,000 $243,000 $0 3.15%
    20 Year 6 $1,750,000 $291,667 $0 4.31%
    10 Year 2 $450,000 $225,000 $0 4.75%
    30+ year 2 $1,540,000 $770,000 $0 7.63%

    For 2022, R M K Financial Corp.'s most frequently cited loan duration was 30 Year, with 1,002 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 814 $384,670,000 $472,568
    $4k-5k 78 $23,460,000 $300,769
    $<1k 44 $20,910,000 $475,227
    $3k-4k 44 $12,720,000 $289,091
    $2k-3k 25 $6,715,000 $268,600
    $1k-2k 17 $5,105,000 $300,294

    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 814 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 372 $163,520,000 $439,570
    4-5% 246 $110,390,000 $448,740
    6-7% 192 $88,030,000 $458,490
    3-4% 134 $53,950,000 $402,612
    7-8% 45 $22,525,000 $500,556
    Over 8% 19 $9,955,000 $523,947
    2.5-3% 13 $5,045,000 $388,077

    During 2022, R M K Financial Corp.'s average interest rate for loans was 5.44%, while their most frequently originated rate bucket for loans was 5-6%, with 372 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 433 $134,665,000 $311,005 $0 5.45%
    $400k-600k 366 $178,970,000 $488,989 $0 5.33%
    $600k-1MM 152 $112,100,000 $737,500 $0 5.53%
    $100k-200k 55 $8,955,000 $162,818 $0 5.05%
    $1MM+ 13 $18,635,000 $1,433,462 $0 6.48%
    $100,000 or less 3 $255,000 $85,000 $0 5.38%

    2022 saw R M K Financial Corp. place emphasis on $200k-400k loans with 433 originations, totaling $134,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 332 $157,130,000 $473,283 $0 5.38%
    $75k-100k 274 $102,090,000 $372,591 $0 5.36%
    $150k-250k 164 $101,750,000 $620,427 $0 5.78%
    $50k-75k 163 $46,215,000 $283,528 $0 5.08%
    $50k or less 45 $10,505,000 $233,444 $0 4.93%
    $250k+ 42 $34,850,000 $829,762 $0 6.40%

    R M K Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 332 originations. The second most popular income band? $75k-100k, with 274 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 236 $109,760,000 $465,085 $0 5.50%
    45% 78 $34,650,000 $444,231 $0 5.48%
    49% 77 $33,685,000 $437,468 $0 5.40%
    46% 61 $26,505,000 $434,508 $0 5.24%
    44% 61 $27,945,000 $458,115 $0 5.41%
    30-36% 57 $23,385,000 $410,263 $0 5.29%
    48% 54 $24,130,000 $446,852 $0 5.45%
    43% 53 $22,585,000 $426,132 $0 5.19%
    47% 45 $20,895,000 $464,333 $0 5.02%
    20-30% 43 $17,475,000 $406,395 $0 5.66%
    40% 39 $16,605,000 $425,769 $0 5.63%
    41% 37 $14,235,000 $384,730 $0 5.18%
    39% 37 $15,765,000 $426,081 $0 5.46%
    >60% 33 $16,315,000 $494,394 $0 5.63%
    42% 33 $12,975,000 $393,182 $0 5.23%
    37% 28 $9,720,000 $347,143 $0 5.19%
    38% 22 $10,320,000 $469,091 $0 5.32%
    <20% 17 $10,495,000 $617,353 $0 5.88%
    36% 11 $6,135,000 $557,727 $0 6.02%

    R M K Financial Corp. lent most frequently to those with DTI ratios of 50-60%, with 236 originations. The next most common DTI ratio? 45%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 518 $242,110,000 $467,394 $0 5.41%
    Not provided 193 $91,555,000 $474,378 $0 5.44%
    Asian 195 $77,295,000 $396,385 $0 5.33%
    Black 116 $42,620,000 $367,414 $0 5.50%

    Approval Rates

    Total approvals of all applications
    87.96%

    R M K Financial Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.91%

    R M K Financial Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,022 $453,580,000 $443,816

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,022 $453,580,000 $443,816

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $6,515,000 $283,261 $0 5.49%
    40-60% 94 $36,010,000 $383,085 $0 5.03%
    60-80% 256 $116,270,000 $454,180 $0 5.49%
    80-100% 646 $292,820,000 $453,282 $0 5.43%
    Over 100% 2 $1,390,000 $695,000 $0 5.63%
    Under 20% 1 $575,000 $575,000 $0 5.38%