Terrabank Mortgage Rates, Fees & Info
Miami, FLLEI: 254900T2AM7E5EQDN105
Tax ID: 59-2532510
Latest/2023 | 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 and Refi loans. Terrabank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Miami, Orlando, and Lakeland among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Terrabank has an 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
61Origination Dollar Volume (All Markets)
$24,265,000Top 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) | 16 | $13,630,000 | $851,875 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 40 | $9,490,000 | $237,250 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $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.
Similarity Rank: 60
Similarity Rank: 312
Similarity Rank: 392
Similarity Rank: 432
Similarity Rank: 836
Similarity Rank: 912
Similarity Rank: 948
Similarity Rank: 1014
Similarity Rank: 1222
Similarity Rank: 1254
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 60 | $24,070,000 | $401,167 | $0 | 0.00% |
| USDA | 1 | $195,000 | $195,000 | $0 | 0.00% |
For 2018, Terrabank's most frequently originated type of loan was Conventional, with 60 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 52 | $15,030,000 | $289,038 | $0 | 0.00% |
| Refi | 7 | $7,765,000 | $1,109,286 | $0 | 0.00% |
| NA | 2 | $1,470,000 | $735,000 | $0 | 0.00% |
For 2018, Terrabank's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $24,265,000 | $397,787 | $0 | 0.00% |
For 2018, Terrabank's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2018 saw Terrabank place emphasis on $200k-400k loans with 32 originations, totaling $7,990,000 in origination value.
Applicant Income
Terrabank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $24,265,000 | $397,787 | $0 | 0.00% |
Terrabank lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 39 | $18,925,000 | $485,256 | $0 | 0.00% |
| White | 22 | $5,340,000 | $242,727 | $0 | 0.00% |
Approval Rates
Total approvals of all applications89.29%
Terrabank has an average approval rate.
Pick Rate
Approvals leading to origination83.61%
Terrabank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 61 | $24,265,000 | $397,787 |