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, Bakersfield, and Visalia among others. We have data for 48 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% | 4/22/24 |
| 30 Year Conventional Purchase | 6.49% | 4/22/24 |
| 30 Year Conventional Refi | 6.54% | 4/22/24 |
| 30 Year Cash-out Refi | 6.70% | 4/22/24 |
| 30 Year FHA Purchase | 7.47% | 4/22/24 |
| 30 Year FHA Refi | 7.06% | 4/22/24 |
| 30 Year VA Purchase | 6.48% | 4/22/24 |
| 30 Year VA Refi | 5.68% | 4/22/24 |
| 30 Year USDA Purchase | 6.97% | 4/22/24 |
| 15 Year Conventional Purchase | 6.23% | 4/22/24 |
| 15 Year Conventional Refi | 5.85% | 4/22/24 |
| 15 Year Cash-out Refi | 5.85% | 4/22/24 |
| 15 Year FHA Refi | 6.90% | 4/22/24 |
| 15 Year VA Refi | 5.68% | 4/22/24 |
| 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™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,960Origination Dollar Volume (All Markets)
$463,800,000Top 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) | 764 | $186,200,000 | $243,717 | $7,810 | 4.30% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 259 | $61,145,000 | $236,081 | $8,672 | 4.03% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 128 | $48,890,000 | $381,953 | $10,831 | 4.41% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 126 | $31,210,000 | $247,698 | $7,633 | 4.02% |
| VISALIA, CA (FHA|USDA|VA) | 117 | $22,385,000 | $191,325 | $7,340 | 4.24% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 57 | $13,995,000 | $245,526 | $6,449 | 4.44% |
| TUCSON, AZ (FHA|USDA|VA) | 71 | $13,455,000 | $189,507 | $7,240 | 4.52% |
| RENO, NV (FHA|USDA|VA) | 44 | $10,860,000 | $246,818 | $7,404 | 4.85% |
| FRESNO, CA (FHA|USDA|VA) | 50 | $9,480,000 | $189,600 | $7,091 | 4.19% |
| YUMA, AZ (FHA|USDA|VA) | 52 | $8,120,000 | $156,154 | $7,939 | 4.81% |
| Outside of Metro Areas | 52 | $7,950,000 | $152,885 | $7,846 | 3.19% |
| MERCED, CA (FHA|USDA|VA) | 34 | $7,110,000 | $209,118 | $8,299 | 4.35% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 49 | $7,045,000 | $143,776 | $4,732 | 4.36% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 23 | $4,975,000 | $216,304 | $7,166 | 4.28% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 9 | $3,715,000 | $412,778 | $9,761 | 4.97% |
| ANCHORAGE, AK (FHA|USDA|VA) | 7 | $2,325,000 | $332,143 | $8,189 | 4.36% |
| STOCKTON, CA (FHA|USDA|VA) | 8 | $2,180,000 | $272,500 | $7,570 | 3.81% |
| Pahrump, NV (FHA|USDA|VA) | 13 | $1,845,000 | $141,923 | $8,029 | 4.08% |
| MODESTO, CA (FHA|USDA|VA) | 7 | $1,785,000 | $255,000 | $12,196 | 4.65% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $7,337 | 4.33% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,720,000 | $430,000 | $15,165 | 5.50% |
| LONGVIEW, TX (FHA|USDA|VA) | 9 | $1,605,000 | $178,333 | $8,192 | 4.06% |
| MADERA, CA (FHA|USDA|VA) | 7 | $1,425,000 | $203,571 | $6,974 | 4.71% |
| TYLER, TX (FHA|USDA|VA) | 6 | $1,360,000 | $226,667 | $10,185 | 4.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $9,541 | 4.58% |
| OCALA, FL (FHA|USDA|VA) | 9 | $1,255,000 | $139,444 | $7,514 | 4.35% |
| AKRON, OH (FHA|USDA|VA) | 9 | $1,145,000 | $127,222 | $5,363 | 4.78% |
| Fernley, NV (FHA|USDA|VA) | 6 | $1,090,000 | $181,667 | $7,328 | 3.98% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 4.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $10,851 | 5.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,698 | 4.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,068 | 4.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $7,621 | 4.54% |
| Nogales, AZ (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $6,498 | 4.71% |
| Wooster, OH (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $5,452 | 5.00% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,686 | 4.25% |
| Salem, OH (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,376 | 3.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,483 | 4.63% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,871 | 4.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,619 | 4.44% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,296 | 6.00% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $12,880 | 3.50% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,246 | 4.38% |
| Payson, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,987 | 4.63% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,437 | 5.13% |
| CHICO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,593 | 4.50% |
| Fallon, NV (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $6,758 | 5.13% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,184 | 3.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against RESIDENTIAL BANCORP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, Residential Bancorp's most frequently originated type of loan was Conventional, with 1,129 originations. Their 2nd most popular type was FHA, with 678 originations.
Loan Reason
For 2019, Residential Bancorp's most frequently cited loan purpose was Home Purchase, with 1,483 originations. The 2nd most popular reason was Cash Out Refi, with 241 originations.
Loan Duration/Length
For 2019, Residential Bancorp's most frequently cited loan duration was 30 Year, with 1,893 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
Residential Bancorp's average total fees were $7,987, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 392 originations.
Interest Rates
During 2019, Residential Bancorp's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 923 originations.
Loan Sizing
2019 saw Residential Bancorp place emphasis on $200k-400k loans with 1,066 originations, totaling $296,320,000 in origination value.
Applicant Income
Residential Bancorp lent most frequently to those with incomes in the $50k-75k range, with 621 originations. The second most popular income band? $50k or less, with 454 originations.
Applicant Debt to Income Ratio
Residential Bancorp lent most frequently to those with DTI ratios of 30-36%, with 258 originations. The next most common DTI ratio? 20-30%, with 178 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.56%
Residential Bancorp has an average approval rate.
Pick Rate
Approvals leading to origination56.02%
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 | 1,960 | $463,800,000 | $236,633 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 47 | $6,795,000 | $144,574 |
| Single Family (1-4 Units):Site-Built | 1,913 | $457,005,000 | $238,894 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Residential Bancorp | Conventional home mortgage | Struggling to pay mortgage | 2 | 50.0% |
| Residential Bancorp | FHA mortgage | Trouble during payment process | 1 | 25.0% |
| Residential Bancorp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |