Terrabank Mortgage Rates, Fees & Info
Miami, FLLEI: 254900T2AM7E5EQDN105
Tax ID: 59-2532510
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Terrabank is a smaller bank specializing in Home Purchase loans. Terrabank has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Cape Coral, Lakeland, and Naples among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Terrabank 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.
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Originations
90Origination Dollar Volume (All Markets)
$46,700,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 49 | $34,285,000 | $699,694 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 26 | $8,030,000 | $308,846 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,785,000 | $357,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Terrabank 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $46,700,000 | $518,889 | $0 | 0.00% |
For 2024, Terrabank's most frequently originated type of loan was Conventional, with 90 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 75 | $34,215,000 | $456,200 | $0 | 0.00% |
| Cash Out Refi | 9 | $7,525,000 | $836,111 | $0 | 0.00% |
| Refi | 6 | $4,960,000 | $826,667 | $0 | 0.00% |
For 2024, Terrabank's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 90 | $46,700,000 | $518,889 | $0 | 0.00% |
For 2024, Terrabank's most frequently cited loan duration was Other, with 90 originations.
Loan Sizing
2024 saw Terrabank place emphasis on $200k-400k loans with 43 originations, totaling $11,975,000 in origination value.
Applicant Income
Terrabank lent most frequently to those with incomes in the $250k+ range, with 17 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 90 | $46,700,000 | $518,889 | $0 | 0.00% |
Terrabank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.19%
Terrabank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination68.89%
Terrabank 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 |
|---|---|---|---|
| Exempt | 90 | $46,700,000 | $518,889 |