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

ONTARIO, CA

LEI: 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.

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% 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

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

100

Origination Dollar Volume (All Markets)

$45,960,000

Relative 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%
R M K Financial Corp.'s top markets include Los Angeles, Riverside, Philadelphia, Dallas, and San Antonio among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • 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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 89 $44,095,000 $495,449
    $3k-4k 6 $1,330,000 $221,667
    $<1k 2 $40,000 $20,000
    $2k-3k 2 $330,000 $165,000
    $4k-5k 1 $165,000 $165,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 40 $19,900,000 $497,500 $0 6.77%
    $200k-400k 29 $9,025,000 $311,207 $0 6.61%
    $600k-1MM 22 $15,820,000 $719,091 $0 6.75%
    $100k-200k 7 $1,175,000 $167,857 $0 6.61%
    $100,000 or less 2 $40,000 $20,000 $0 9.25%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $17,325,000 $468,243 $0 6.79%
    $150k-250k 27 $16,595,000 $614,630 $0 6.66%
    $75k-100k 18 $6,210,000 $345,000 $0 6.57%
    $50k-75k 10 $2,440,000 $244,000 $0 6.69%
    $250k+ 4 $2,240,000 $560,000 $0 7.47%
    $50k or less 3 $725,000 $241,667 $0 6.13%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 29 $13,935,000 $480,517 $0 6.56%
    45% 8 $4,010,000 $501,250 $0 6.72%
    43% 7 $3,125,000 $446,429 $0 6.73%
    48% 7 $4,395,000 $627,857 $0 6.75%
    46% 7 $3,055,000 $436,429 $0 6.64%
    49% 7 $2,615,000 $373,571 $0 6.73%
    30-36% 7 $1,565,000 $223,571 $0 6.58%
    >60% 4 $1,540,000 $385,000 $0 6.63%
    42% 4 $2,290,000 $572,500 $0 6.84%
    44% 4 $1,390,000 $347,500 $0 7.44%
    47% 4 $2,210,000 $552,500 $0 6.84%
    40% 3 $895,000 $298,333 $0 6.42%
    41% 3 $1,935,000 $645,000 $0 6.75%
    20-30% 2 $660,000 $330,000 $0 7.56%
    36% 1 $655,000 $655,000 $0 6.88%
    38% 1 $685,000 $685,000 $0 6.63%
    39% 1 $575,000 $575,000 $0 6.88%
    <20% 1 $425,000 $425,000 $0 9.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $26,265,000 $495,566 $0 6.73%
    Not provided 16 $7,110,000 $444,375 $0 6.80%
    Black 16 $6,540,000 $408,750 $0 6.78%
    Asian 14 $5,600,000 $400,000 $0 6.51%
    Native Hawaiian or Islander 1 $445,000 $445,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    92.59%

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

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 100 $45,960,000 $459,600

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    100 $45,960,000 $459,600

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $350,000 $175,000 $0 6.31%
    40-60% 1 $565,000 $565,000 $0 4.25%
    60-80% 13 $5,025,000 $386,538 $0 7.01%
    80-100% 82 $39,980,000 $487,561 $0 6.70%
    Under 20% 2 $40,000 $20,000 $0 9.25%