Financial Trust Mortgage Rates, Fees & Info

Orchard Park, NY

LEI: 254900L3N47KFV5KSJ32

Tax ID: 16-0845154

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Mortgage Data

Review & Overview

Financial Trust is a smaller mortgage company specializing in Home Improvement and Refi loans. Financial Trust has a high proportion of conventional loans. Their top (well, only) market is Buffalo.

Financial Trust has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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Originations

25

Origination Dollar Volume (All Markets)

$125,000

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
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 25 $125,000 $5,000 $0 0.00%
Financial Trust's top markets include and Buffalo among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 25 $125,000 $5,000 $0 0.00%

    For 2018, Financial Trust's most frequently originated type of loan was Conventional, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 14 $70,000 $5,000 $0 0.00%
    Refi 9 $45,000 $5,000 $0 0.00%
    Home Purchase 1 $5,000 $5,000 $0 0.00%
    Cash Out Refi 1 $5,000 $5,000 $0 0.00%

    For 2018, Financial Trust's most frequently cited loan purpose was Home Improvement, with 14 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 25 $125,000 $5,000 $0 0.00%

    For 2018, Financial Trust's most frequently cited loan duration was Other, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $125,000 $5,000 $0 0.00%

    2018 saw Financial Trust place emphasis on $100,000 or less loans with 25 originations, totaling $125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $45,000 $5,000 $0 0.00%
    $75k-100k 5 $25,000 $5,000 $0 0.00%
    $100k-150k 4 $20,000 $5,000 $0 0.00%
    $50k or less 4 $20,000 $5,000 $0 0.00%
    $150k-250k 3 $15,000 $5,000 $0 0.00%

    Financial Trust lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $75k-100k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 25 $125,000 $5,000 $0 0.00%

    Financial Trust lent most frequently to those with DTI ratios of Exempt%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $120,000 $5,000 $0 0.00%
    Not provided 1 $5,000 $5,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.10%

    Financial Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.00%

    Financial Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 25 $125,000 $5,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 25 $125,000 $5,000

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Financial Freedom Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Financial Freedom Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%