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

ONTARIO, CA

LEI: 549300X72Q5WKCW2QQ95

Tax ID: 33-0750812

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

Review & Overview

R M K Financial Corp. is a smaller mortgage company specializing in Home Purchase loans. R M K Financial Corp. has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, Seattle, and Washington among others. We have data for 80 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 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.

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%	4/21/24
30 Year Conventional Refi	6.27%	4/21/24
30 Year Cash-out Refi	6.27%	4/21/24
30 Year FHA Purchase	6.27%	4/21/24
30 Year FHA Refi	6.27%	4/21/24
30 Year VA Purchase	6.27%	4/21/24
15 Year Conventional Purchase	5.68%	4/21/24
15 Year Conventional Refi	5.68%	4/21/24
15 Year Cash-out Refi	5.68%	4/21/24
15 Year FHA Refi	5.68%	4/21/24
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

Purchase Price:

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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

1,506

Origination Dollar Volume (All Markets)

$538,370,000

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)	392	$179,330,000	$457,474	$0	4.75%
Outside of Metro Areas	419	$129,665,000	$309,463	$0	4.80%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	196	$61,340,000	$312,959	$0	4.48%
San Francisco-Oakland-Berkeley, CA (FHA\|USDA\|VA)	82	$43,330,000	$528,415	$0	4.81%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	52	$22,800,000	$438,462	$0	5.29%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	56	$18,370,000	$328,036	$0	5.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA\|USDA\|VA)	14	$6,570,000	$469,286	$0	4.71%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	26	$6,140,000	$236,154	$0	4.89%
STOCKTON, CA (FHA\|USDA\|VA)	16	$6,070,000	$379,375	$0	4.98%
MODESTO, CA (FHA\|USDA\|VA)	17	$6,055,000	$356,176	$0	5.15%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	14	$3,630,000	$259,286	$0	5.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	18	$3,470,000	$192,778	$0	4.67%
VALLEJO, CA (FHA\|USDA\|VA)	8	$3,030,000	$378,750	$0	4.94%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	9	$2,945,000	$327,222	$0	5.25%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA\|USDA\|VA)	10	$2,800,000	$280,000	$0	4.74%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	11	$2,705,000	$245,909	$0	5.19%
SALINAS, CA (FHA\|USDA\|VA)	5	$2,395,000	$479,000	$0	4.40%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	10	$2,260,000	$226,000	$0	4.74%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	9	$2,215,000	$246,111	$0	4.08%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	6	$2,170,000	$361,667	$0	5.02%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	9	$2,105,000	$233,889	$0	5.18%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA\|USDA\|VA)	4	$1,950,000	$487,500	$0	4.31%
EL PASO, TX (FHA\|USDA\|VA)	16	$1,910,000	$119,375	$0	4.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	3	$1,425,000	$475,000	$0	5.04%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	6	$1,410,000	$235,000	$0	4.44%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	4	$1,320,000	$330,000	$0	5.28%
BAKERSFIELD, CA (FHA\|USDA\|VA)	6	$1,230,000	$205,000	$0	5.23%
Centralia, WA (FHA\|USDA\|VA)	3	$995,000	$331,667	$0	5.46%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	4	$960,000	$240,000	$0	4.84%
RICHMOND, VA (FHA\|USDA\|VA)	3	$895,000	$298,333	$0	4.96%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA\|USDA\|VA)	3	$885,000	$295,000	$0	5.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	4	$800,000	$200,000	$0	4.34%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	4	$760,000	$190,000	$0	4.31%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	2	$730,000	$365,000	$0	5.44%
FRESNO, CA (FHA\|USDA\|VA)	4	$720,000	$180,000	$0	4.81%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	4	$700,000	$175,000	$0	4.50%
ALBUQUERQUE, NM (FHA\|USDA\|VA)	3	$675,000	$225,000	$0	3.96%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	3	$575,000	$191,667	$0	5.04%
VISALIA, CA (FHA\|USDA\|VA)	2	$540,000	$270,000	$0	5.06%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	2	$520,000	$260,000	$0	5.19%
Ellensburg, WA (FHA\|USDA\|VA)	1	$485,000	$485,000	$0	5.38%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	1	$465,000	$465,000	$0	5.38%
KNOXVILLE, TN (FHA\|USDA\|VA)	3	$455,000	$151,667	$0	4.54%
REDDING, CA (FHA\|USDA\|VA)	1	$425,000	$425,000	$0	5.63%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA\|USDA\|VA)	1	$395,000	$395,000	$0	4.38%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	2	$380,000	$190,000	$0	4.81%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	1	$375,000	$375,000	$0	3.50%
NEW BERN, NC (FHA\|USDA\|VA)	2	$370,000	$185,000	$0	4.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	2	$360,000	$180,000	$0	5.13%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	1	$345,000	$345,000	$0	4.88%
GAINESVILLE, FL (FHA\|USDA\|VA)	1	$335,000	$335,000	$0	4.38%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	5.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	5.88%
SUMTER, SC (FHA\|USDA\|VA)	2	$300,000	$150,000	$0	5.13%
SEBRING-AVON PARK, FL (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	4.25%
SAVANNAH, GA (FHA\|USDA\|VA)	2	$270,000	$135,000	$0	4.56%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	8.25%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	5.38%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	5.38%
STATE COLLEGE, PA (FHA\|USDA\|VA)	1	$245,000	$245,000	$0	4.25%
CORPUS CHRISTI, TX (FHA\|USDA\|VA)	1	$245,000	$245,000	$0	4.50%
New Castle, PA (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	3.25%
Klamath Falls, OR (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	5.38%
WILMINGTON, NC (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	4.50%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	5.38%
HAMMOND, LA (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	5.88%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	4.75%
Lake City, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	5.38%
RACINE, WI (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	5.38%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	4.38%
JACKSONVILLE, NC (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	4.38%
PUEBLO, CO (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	4.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	8.38%
KINGSPORT-BRISTOL, TN-VA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	4.63%
Morehead City, NC (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	5.38%
SANTA FE, NM (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	5.38%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	4.75%
Shelby, NC (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.38%
OCALA, FL (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	3.88%
LAKE HAVASU CITY-KINGMAN, AZ (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	5.38%

R M K Financial Corp.'s top markets include Los Angeles, Riverside, San Francisco, Seattle, and Washington among others.

Their top states include:

California (FHA|USDA|VA)

Washington (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	852	$329,050,000	$386,209	$0	4.83%
FHA	540	$179,600,000	$332,593	$0	4.82%
VA	114	$29,720,000	$260,702	$0	4.42%

For 2019, R M K Financial Corp.'s most frequently originated type of loan was Conventional, with 852 originations. Their 2nd most popular type was FHA, with 540 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	1,049	$385,065,000	$367,078	$0	4.90%
Cash Out Refi	273	$91,365,000	$334,670	$0	4.76%
Refi	184	$61,940,000	$336,630	$0	4.22%

For 2019, R M K Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 1,049 originations. The 2nd most popular reason was Cash Out Refi, with 273 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	1,484	$532,590,000	$358,888	$0	4.80%
15 Year	11	$2,695,000	$245,000	$0	3.93%
20 Year	8	$2,170,000	$271,250	$0	3.95%
Other	3	$915,000	$305,000	$0	4.21%

For 2019, R M K Financial Corp.'s most frequently cited loan duration was 30 Year, with 1,484 originations. The 2nd most popular length was 15 Year, with 11 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$5k+	766	$331,310,000	$432,520
$1k-2k	223	$52,215,000	$234,148
$<1k	209	$68,795,000	$329,163
$4k-5k	119	$39,035,000	$328,025
$3k-4k	111	$29,795,000	$268,423
$2k-3k	78	$17,220,000	$220,769

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 766 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	666	$240,730,000	$361,456
5-6%	563	$206,035,000	$365,959
3-4%	256	$83,440,000	$325,938
6-7%	9	$3,835,000	$426,111
7-8%	6	$1,960,000	$326,667
2.5-3%	3	$985,000	$328,333
Over 8%	3	$1,385,000	$461,667

During 2019, R M K Financial Corp.'s average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 666 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	680	$206,910,000	$304,279	$0	4.73%
$400k-600k	448	$211,390,000	$471,853	$0	4.80%
$100k-200k	246	$37,650,000	$153,049	$0	4.84%
$600k-1MM	106	$71,820,000	$677,547	$0	5.02%
$100,000 or less	22	$1,830,000	$83,182	$0	4.87%
$1MM+	4	$8,770,000	$2,192,500	$0	5.44%

2019 saw R M K Financial Corp. place emphasis on $200k-400k loans with 680 originations, totaling $206,910,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	454	$199,390,000	$439,185	$0	4.86%
$75k-100k	441	$150,625,000	$341,553	$0	4.80%
$50k-75k	319	$77,495,000	$242,931	$0	4.79%
$150k-250k	118	$58,760,000	$497,966	$0	4.90%
$50k or less	101	$17,595,000	$174,208	$0	4.71%
$250k+	27	$20,475,000	$758,333	$0	5.20%

R M K Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 454 originations. The second most popular income band? $75k-100k, with 441 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	169	$54,595,000	$323,047	$0	4.74%
50-60%	137	$48,525,000	$354,197	$0	4.75%
42%	117	$42,295,000	$361,496	$0	4.89%
44%	109	$40,185,000	$368,670	$0	4.86%
43%	99	$39,665,000	$400,657	$0	4.80%
46%	98	$40,820,000	$416,531	$0	4.86%
41%	95	$36,255,000	$381,632	$0	4.94%
20-30%	92	$26,580,000	$288,913	$0	4.65%
40%	72	$23,860,000	$331,389	$0	4.82%
49%	70	$27,710,000	$395,857	$0	4.80%
45%	67	$27,045,000	$403,657	$0	4.96%
39%	67	$24,035,000	$358,731	$0	4.76%
48%	65	$23,195,000	$356,846	$0	5.00%
<20%	62	$19,350,000	$312,097	$0	4.19%
47%	62	$23,990,000	$386,935	$0	4.76%
37%	42	$14,820,000	$352,857	$0	4.79%
38%	41	$13,065,000	$318,659	$0	4.86%
36%	37	$11,015,000	$297,703	$0	4.86%
>60%	5	$1,365,000	$273,000	$0	4.48%

R M K Financial Corp. lent most frequently to those with DTI ratios of 30-36%, with 169 originations. The next most common DTI ratio? 50-60%, with 137 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Asian	586	$235,420,000	$401,741	$0	4.90%
White	406	$138,780,000	$341,823	$0	4.74%
Not provided	413	$138,235,000	$334,709	$0	4.72%
Black	88	$21,890,000	$248,750	$0	4.72%
American Indian	8	$2,470,000	$308,750	$0	4.53%
Native Hawaiian or Islander	3	$935,000	$311,667	$0	5.13%
Not applicable	2	$640,000	$320,000	$0	4.75%

Approval Rates

Total approvals of all applications
91.03%

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

Pick Rate

Approvals leading to origination
53.05%

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	1,506	$538,370,000	$357,483

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	29	$4,965,000	$171,207
Single Family (1-4 Units):Site-Built	1,477	$533,405,000	$361,141

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	34	$7,980,000	$234,706	$0	4.55%
40-60%	142	$49,980,000	$351,972	$0	4.62%
60-80%	546	$211,870,000	$388,040	$0	4.89%
80-100%	778	$267,470,000	$343,792	$0	4.77%
Over 100%	2	$350,000	$175,000	$0	3.63%
Under 20%	4	$720,000	$180,000	$0	4.53%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
RMK Financial Corp	FHA mortgage	Trouble during payment process	1	100.0%