What is Rapidio used for?

Rapidio is used to calculate borrower income and extract data from mortgage documents such as pay stubs, W-2s, tax returns, and bank statements.

Who should use Rapidio?

Loan officers, mortgage loan originators, brokers, and lenders of all sizes that want faster, more accurate income calculations should consider Rapidio.

How much does Rapidio cost?

Rapidio offers usage-based Pay as you Go pricing starting at $20 per month, and a free trial is available to test it.

Which loan guidelines does Rapidio support?

Rapidio supports Fannie Mae, Freddie Mac, FHA, VA, USDA, and Non-QM guidelines when calculating income and recommending loan conditions.

What are the best alternatives to Rapidio?

Alternatives to Rapidio include Ocrolus, LoanBeam, Informed.IQ, and Parsio for lending document analysis, income calculation, and data extraction.

Rapidio Reviews, Features & Alternatives

Overview

What is Rapidio?

Rapidio is a mortgage fintech tool that uses AI and machine learning, backed by human review, to calculate borrower income and process loan documents. It categorizes and extracts data from pay stubs, W-2s, tax returns, and bank statements, then returns income calculations and recommended conditions in under 15 minutes. It supports Non-QM, USDA, FHA, VA, Fannie Mae, and Freddie Mac guidelines. Loan officers, mortgage loan originators, and lenders of all sizes use it to speed up preapprovals.

Best for

Loan OfficersMortgage Loan OriginatorsMortgage LendersMortgage BrokersLoan Processors

Product snapshot

Category: Data Extraction & Collection
Best for: Mortgage income calculation
Deployment: Cloud
Free trial: Yes
Integrations: Encompass, API
AI features: Yes

Key features

Key features of Rapidio

Automated income calculation

Calculate qualifying borrower income from submitted documents in minutes.

Document categorization

Sort pay stubs, W-2s, tax returns, and bank statements automatically.

Bank statement income

Work out income from bank statements for self-employed borrowers.

Recommended conditions

Get suggested loan conditions based on the reviewed income documents.

Agency guideline support

Apply Fannie Mae, Freddie Mac, FHA, VA, USDA, and Non-QM rules.

Encompass integration

Connect income results directly with the Encompass loan origination system.

Reviews

Rapidio reviews

5 reviews

Overall

5.0/5

Ease of use5/5
Features5/5
Value for money5/5
Customer support5/5

What users like

Fast results on complex returns
Easy to use for loan officers
Detailed income calculation explanations
Helpful and responsive support team

What users dislike

Cost could be lower
Smart conditions could be clearer
No VA income calculation submission
Narrow focus on mortgage lending

Miles M.

Loan Officer

“Liked how it reduces stress on what the reviewer sees as the hardest part of qualifying borrowers for a mortgage. Noted no major drawbacks.”

Kerrie L.

Mortgage Loan Originator

“Liked the fast and accurate income results the tool returns, even when working through complex borrower tax returns. Noted no major drawbacks.”

Michele A.

Loan Officer

“Liked the ease of use, strong support, and time saved on preapprovals. Found that the price could be lower and smart conditions could be clearer.”

Anonymous User

Loan Originator

“Liked the ease of use and detailed explanations of income calculations. Found that an income calculation cannot be submitted for a VA loan.”

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Alternatives

Top Rapidio alternatives

Ocrolus
Best for
Lending document analysis
Why choose it
Widely used document automation for lenders
View Ocrolus
LoanBeam
Best for
Mortgage income calculation
Why choose it
Automated income analysis for mortgage underwriting
Informed.IQ
Best for
Loan verification automation
Why choose it
AI income and document verification for lenders
Parsio
Best for
General document data extraction
Why choose it
Flexible parser for emails and PDFs
View Parsio

Integrations

Rapidio integrations

Rapidio is designed to fit into the mortgage origination workflow rather than act as a general-purpose data tool. Its main connection is a native integration with Encompass, the loan origination system used by many lenders, which lets loan officers move borrower documents in and bring income calculations and recommended conditions back into the loan file. An API is also available for teams that want to connect Rapidio to their own systems or point-of-sale tools. Documents such as pay stubs, W-2s, tax returns, and bank statements can be uploaded through the web app, and mobile access on Android and iOS supports work outside the office.

FAQ

Rapidio