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

ONTARIO, CA

LEI: 549300X72Q5WKCW2QQ95

Tax ID: 33-0750812

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Los Angeles, Riverside, Washington, Sacramento, and Houston among others. We have data for 53 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 a below average pick rate when compared to similar lenders. They typically have about average 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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    Originations

    1,089

    Origination Dollar Volume (All Markets)

    $429,555,000

    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) 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.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, R M K Financial Corp.'s most frequently originated type of loan was Conventional, with 846 originations. Their 2nd most popular type was FHA, with 234 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, R M K Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 393 originations. The 2nd most popular reason was 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 2021, R M K Financial Corp.'s most frequently cited loan duration was 30 Year, with 997 originations. The 2nd most popular length was 15 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 715 $313,145,000 $437,965
    $3k-4k 110 $27,900,000 $253,636
    $4k-5k 98 $30,160,000 $307,755
    $<1k 82 $35,610,000 $434,268
    $2k-3k 53 $13,025,000 $245,755
    $1k-2k 31 $9,715,000 $313,387

    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 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 for loans was 3.29%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    84.07%

    R M K Financial Corp. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    47.29%

    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%