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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/19/24 |
| 30 Year Conventional Refi | 6.27% | 4/19/24 |
| 30 Year Cash-out Refi | 6.27% | 4/19/24 |
| 30 Year FHA Purchase | 6.27% | 4/19/24 |
| 30 Year FHA Refi | 6.27% | 4/19/24 |
| 30 Year VA Purchase | 6.27% | 4/19/24 |
| 15 Year Conventional Purchase | 5.68% | 4/19/24 |
| 15 Year Conventional Refi | 5.68% | 4/19/24 |
| 15 Year Cash-out Refi | 5.68% | 4/19/24 |
| 15 Year FHA Refi | 5.68% | 4/19/24 |
| 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
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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 |