Residential Bancorp Mortgage Rates, Fees & Info
CANTON, OHLEI: 549300XCVBRR56D08F03
Tax ID: 34-1633105
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Mortgage Data
Review & Overview
Residential Bancorp is a smaller mortgage company specializing in Home Purchase loans. Residential Bancorp has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Las Vegas, Riverside, Los Angeles, Phoenix, and Visalia among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)Residential Bancorp 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. Residential Bancorp is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.49% | 4/18/24 |
| 30 Year Conventional Refi | 6.54% | 4/18/24 |
| 30 Year Cash-out Refi | 6.70% | 4/18/24 |
| 30 Year FHA Purchase | 7.47% | 4/18/24 |
| 30 Year FHA Refi | 7.06% | 4/18/24 |
| 30 Year VA Purchase | 6.48% | 4/18/24 |
| 30 Year VA Refi | 5.68% | 4/18/24 |
| 30 Year USDA Purchase | 6.97% | 4/18/24 |
| 15 Year Conventional Purchase | 6.23% | 4/18/24 |
| 15 Year Conventional Refi | 5.85% | 4/18/24 |
| 15 Year Cash-out Refi | 5.85% | 4/18/24 |
| 15 Year FHA Refi | 6.90% | 4/18/24 |
| 15 Year VA Refi | 5.68% | 4/18/24 |
| 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. | ||
Residential Bancorp Mortgage Calculator
Your Estimates
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This is not an official calculator from Residential Bancorp. 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
1,588Origination Dollar Volume (All Markets)
$338,350,000Top 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 |
|---|---|---|---|---|---|
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 539 | $105,765,000 | $196,224 | $7,422 | 5.21% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 252 | $55,140,000 | $218,810 | $9,547 | 4.90% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 149 | $53,905,000 | $361,779 | $11,958 | 4.97% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 93 | $16,565,000 | $178,118 | $6,796 | 5.25% |
| VISALIA, CA (FHA|USDA|VA) | 78 | $15,530,000 | $199,103 | $7,196 | 5.24% |
| RENO, NV (FHA|USDA|VA) | 61 | $12,485,000 | $204,672 | $6,713 | 5.34% |
| FRESNO, CA (FHA|USDA|VA) | 43 | $8,535,000 | $198,488 | $6,367 | 5.43% |
| YUMA, AZ (FHA|USDA|VA) | 64 | $8,300,000 | $129,688 | $7,636 | 5.50% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 56 | $8,240,000 | $147,143 | $5,450 | 4.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 45 | $6,875,000 | $152,778 | $7,483 | 4.63% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 31 | $6,695,000 | $215,968 | $8,159 | 5.20% |
| MODESTO, CA (FHA|USDA|VA) | 26 | $4,900,000 | $188,462 | $8,520 | 4.95% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 21 | $4,285,000 | $204,048 | $9,103 | 4.71% |
| MERCED, CA (FHA|USDA|VA) | 21 | $3,665,000 | $174,524 | $8,538 | 4.95% |
| STOCKTON, CA (FHA|USDA|VA) | 10 | $3,320,000 | $332,000 | $9,162 | 5.28% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 8 | $2,770,000 | $346,250 | $8,358 | 4.94% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $2,710,000 | $451,667 | $15,650 | 4.67% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $11,167 | 4.95% |
| TUCSON, AZ (FHA|USDA|VA) | 11 | $2,105,000 | $191,364 | $6,731 | 5.30% |
| VALLEJO, CA (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $14,027 | 5.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,225,000 | $408,333 | $16,298 | 4.63% |
| Outside of Metro Areas | 3 | $1,185,000 | $395,000 | $8,201 | 5.21% |
| Fernley, NV (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $8,026 | 5.23% |
| AKRON, OH (FHA|USDA|VA) | 8 | $900,000 | $112,500 | $4,696 | 5.20% |
| Pahrump, NV (FHA|USDA|VA) | 7 | $855,000 | $122,143 | $8,499 | 5.53% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $6,598 | 5.33% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $5,537 | 5.13% |
| MADERA, CA (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $6,848 | 5.56% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $13,799 | 5.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,071 | 4.88% |
| Fallon, NV (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,095 | 5.00% |
| NAPA, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $15,911 | 4.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,504 | 5.75% |
| OCALA, FL (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $6,508 | 4.92% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $21,455 | 5.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,644 | 5.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $5,527 | 5.46% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,268 | 5.25% |
| Wooster, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $5,543 | 5.31% |
| Harrison, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,577 | 5.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,305 | 4.75% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,653 | 4.25% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,163 | 4.88% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,726 | 5.50% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,583 | 5.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,452 | 6.00% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,415 | 5.50% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,698 | 5.75% |
| Salem, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,684 | 5.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,422 | 5.00% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,451 | 5.50% |
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Product Mix
For 2018, Residential Bancorp's most frequently originated type of loan was Conventional, with 1,014 originations. Their 2nd most popular type was FHA, with 492 originations.
Loan Reason
For 2018, Residential Bancorp's most frequently cited loan purpose was Home Purchase, with 1,320 originations. The 2nd most popular reason was Cash Out Refi, with 194 originations.
Loan Duration/Length
For 2018, Residential Bancorp's most frequently cited loan duration was 30 Year, with 1,507 originations. The 2nd most popular length was 3 Year, with 51 originations.
Origination Fees/Closing Costs
Residential Bancorp's average total fees were $8,200, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 330 originations.
Interest Rates
During 2018, Residential Bancorp's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 5-6%, with 737 originations.
Loan Sizing
2018 saw Residential Bancorp place emphasis on $200k-400k loans with 714 originations, totaling $190,640,000 in origination value.
Applicant Income
Residential Bancorp lent most frequently to those with incomes in the $50k-75k range, with 538 originations. The second most popular income band? $50k or less, with 444 originations.
Applicant Debt to Income Ratio
Residential Bancorp lent most frequently to those with DTI ratios of 30-36%, with 201 originations. The next most common DTI ratio? 20-30%, with 134 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.98%
Residential Bancorp has an average approval rate.
Pick Rate
Approvals leading to origination50.88%
Residential Bancorp 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 | 1,588 | $338,350,000 | $213,067 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 41 | $6,225,000 | $151,829 |
| Single Family (1-4 Units):Site-Built | 1,547 | $332,125,000 | $214,690 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Residential Bancorp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Residential Bancorp | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |