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

ONTARIO, CA

LEI: 549300X72Q5WKCW2QQ95

Tax ID: 33-0750812

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

R M K Financial Corp. is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. R M K Financial Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Los Angeles, Riverside, Washington, Sacramento, and Houston among others. R M K Financial Corp. has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

1,089

Origination Dollar Volume (All Markets)

$429,555,000

Relative Rate

R M K Financial Corp.'s average 30 year fixed rate mortgage of loans were 3.29%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.14%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 427 $196,095,000 $459,239 $0 3.25%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 227 $79,855,000 $351,784 $0 3.19%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 136 $50,210,000 $369,191 $0 2.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 30 $10,200,000 $340,000 $0 2.95%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 33 $9,335,000 $282,879 $0 3.33%
Outside of Metro Areas 19 $7,415,000 $390,263 $0 3.01%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 12 $7,130,000 $594,167 $0 3.73%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $6,815,000 $454,333 $0 3.21%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 21 $6,495,000 $309,286 $0 2.91%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 17 $6,095,000 $358,529 $0 3.41%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $5,290,000 $529,000 $0 3.08%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 20 $5,020,000 $251,000 $0 3.64%
BAKERSFIELD, CA (FHA|USDA|VA) 17 $4,755,000 $279,706 $0 3.66%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 10 $4,590,000 $459,000 $0 3.96%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 10 $3,130,000 $313,000 $0 3.39%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $2,825,000 $403,571 $0 3.68%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $2,730,000 $273,000 $0 4.16%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 6 $2,700,000 $450,000 $0 2.42%
STOCKTON, CA (FHA|USDA|VA) 5 $1,495,000 $299,000 $0 3.10%
FRESNO, CA (FHA|USDA|VA) 4 $1,470,000 $367,500 $0 3.53%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,395,000 $465,000 $0 3.29%
VALLEJO, CA (FHA|USDA|VA) 3 $1,335,000 $445,000 $0 4.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,205,000 $401,667 $0 4.42%
KNOXVILLE, TN (FHA|USDA|VA) 6 $1,060,000 $176,667 $0 2.77%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $935,000 $311,667 $0 3.75%
GAINESVILLE, GA (FHA|USDA|VA) 1 $735,000 $735,000 $0 4.88%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $640,000 $320,000 $0 2.94%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $580,000 $290,000 $0 2.44%
SALINAS, CA (FHA|USDA|VA) 1 $575,000 $575,000 $0 2.88%
MERCED, CA (FHA|USDA|VA) 2 $550,000 $275,000 $0 3.38%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $540,000 $270,000 $0 3.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $525,000 $525,000 $0 4.25%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $465,000 $465,000 $0 2.88%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $460,000 $230,000 $0 5.63%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $430,000 $215,000 $0 4.25%
PITTSBURGH, PA (FHA|USDA|VA) 2 $430,000 $215,000 $0 4.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.38%
VISALIA, CA (FHA|USDA|VA) 1 $335,000 $335,000 $0 3.38%
MADERA, CA (FHA|USDA|VA) 1 $335,000 $335,000 $0 2.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.00%
YUBA CITY, CA (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.38%
RICHMOND, VA (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.38%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.88%
HAMMOND, LA (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.25%
Los Alamos, NM (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.38%
CHICO, CA (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.88%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.38%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.38%

R M K Financial Corp.'s top markets include Los Angeles, Riverside, Washington, Sacramento, and Houston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 846 $329,530,000 $389,515 $0 3.18%
FHA 234 $96,280,000 $411,453 $0 3.47%
VA 9 $3,745,000 $416,111 $0 2.85%

For the 2021 period, R M K Financial Corp.'s most frequently originated loan type of loans were Conventional, with 846 originations. Their 2nd most popular type is FHA, with 234 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 393 $162,025,000 $412,277 $0 3.48%
Refi 392 $143,300,000 $365,561 $0 2.94%
Cash Out Refi 304 $124,230,000 $408,651 $0 3.32%

For the 2021, R M K Financial Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 393 originations. The 2nd most popular reason of loans were Refi, with 392 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 997 $404,475,000 $405,692 $0 3.29%
15 Year 62 $18,030,000 $290,806 $0 2.52%
20 Year 22 $5,840,000 $265,455 $0 2.79%
10 Year 6 $650,000 $108,333 $0 3.03%
Other 2 $560,000 $280,000 $0 2.50%

For the 2021, R M K Financial Corp.'s most frequently cited loan length of loans were 30 Year, with 997 originations. The 2nd most popular length of loans were 15 Year, with 62 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 715 $313,145,000 $437,965
$3k-4k 208 $58,060,000 $279,135
$<1k 82 $35,610,000 $434,268
$2k-3k 53 $13,025,000 $245,755
$1k-2k 31 $9,715,000 $313,387

$0 of loans were R M K Financial Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 715 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 468 $174,310,000 $372,457
3-4% 364 $146,530,000 $402,555
4-5% 129 $63,495,000 $492,209
<2.5% 104 $35,590,000 $342,212
5-6% 17 $7,445,000 $437,941
6-7% 5 $2,135,000 $427,000

During 2021, R M K Financial Corp.'s average interest rate of loans were 3.29%, while their most frequently originated rate bucket of loans were 2.5-3%, with 468 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 495 $152,385,000 $307,848 $0 3.20%
$400k-600k 369 $177,675,000 $481,504 $0 3.21%
$100k-200k 105 $16,965,000 $161,571 $0 3.01%
$600k-1MM 104 $74,380,000 $715,192 $0 3.69%
$100,000 or less 10 $550,000 $55,000 $0 3.36%
$1MM+ 6 $7,600,000 $1,266,667 $0 4.17%

2021 saw R M K Financial Corp. place emphasis on $200k-400k loans with 495 originations, totaling $152,385,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 299 $130,885,000 $437,742 $0 3.18%
$75k-100k 256 $99,080,000 $387,031 $0 3.23%
$50k-75k 206 $62,850,000 $305,097 $0 3.10%
$150k-250k 161 $78,595,000 $488,168 $0 3.21%
$50k or less 82 $17,070,000 $208,171 $0 3.05%
$250k+ 35 $20,425,000 $583,571 $0 3.93%

R M K Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 299 originations. The second most popular income band? $75k-100k, with 256 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 130 $48,230,000 $371,000 $0 3.13%
20-30% 119 $39,415,000 $331,218 $0 3.07%
<20% 92 $33,930,000 $368,804 $0 3.83%
42% 65 $25,485,000 $392,077 $0 3.19%
44% 65 $26,745,000 $411,462 $0 3.20%
50-60% 63 $30,675,000 $486,905 $0 3.41%
49% 56 $24,850,000 $443,750 $0 3.23%
43% 55 $21,445,000 $389,909 $0 3.19%
45% 54 $23,320,000 $431,852 $0 3.23%
48% 51 $22,635,000 $443,824 $0 3.21%
40% 49 $19,295,000 $393,776 $0 3.09%
39% 49 $17,135,000 $349,694 $0 3.16%
41% 49 $21,715,000 $443,163 $0 3.30%
47% 46 $19,230,000 $418,043 $0 3.29%
46% 43 $17,705,000 $411,744 $0 3.14%
36% 35 $12,205,000 $348,714 $0 3.01%
37% 33 $11,765,000 $356,515 $0 3.08%
38% 33 $13,095,000 $396,818 $0 3.24%
>60% 2 $680,000 $340,000 $0 3.94%

R M K Financial Corp. lent most frequently to those with DTI ratios of 30-36%, with 130 originations. The next most common DTI ratio? 20-30%, with 119 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 384 $158,500,000 $412,760 $0 3.34%
Not provided 352 $139,830,000 $397,244 $0 3.08%
Asian 289 $108,335,000 $374,862 $0 3.24%
Black 56 $19,540,000 $348,929 $0 3.60%
American Indian 5 $1,835,000 $367,000 $0 2.98%
Native Hawaiian 2 $1,150,000 $575,000 $0 2.94%
Not applicable 1 $365,000 $365,000 $0 3.13%

Approval Rates

Total approvals of all applications
88.16%

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

Pick Rate

Approvals leading to origination
28.33%

R M K Financial Corp. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 1,089 $429,555,000 $394,449

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,089 $429,555,000 $394,449

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 81 $20,785,000 $256,605 $0 2.90%
40-60% 223 $82,525,000 $370,067 $0 3.01%
60-80% 447 $182,435,000 $408,132 $0 3.32%
80-100% 326 $142,310,000 $436,534 $0 3.36%
Under 20% 12 $1,500,000 $125,000 $0 3.33%