Terrabank Mortgage Rates, Fees & Info

Miami, FL

LEI: 254900T2AM7E5EQDN105

Tax ID: 59-2532510

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Terrabank is a smaller bank specializing in Home Purchase and Refi loans. Terrabank has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Lakeland, and Port St. Lucie among others. We have data for 4 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    78

    Origination Dollar Volume (All Markets)

    $31,380,000

    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 43 $21,925,000 $509,884 $0 0.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 33 $8,845,000 $268,030 $0 0.00%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    Terrabank's top markets include Miami, Orlando, Lakeland, and Port St. Lucie among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • 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.

    POWER FINANCIAL
    Similarity Rank: 188
    McCoy Federal Credit Union
    Similarity Rank: 342
    We Florida Financial
    Similarity Rank: 572
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 755
    ADDITION FINANCIAL
    Similarity Rank: 910
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 940
    Citizens First Bank
    Similarity Rank: 1072
    BANKING MORTGAGE SERVICES, B.M.S. CORP.
    Similarity Rank: 1230
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 1440
    TrustCo Bank
    Similarity Rank: 1534

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 78 $31,380,000 $402,308 $0 0.00%

    For 2019, Terrabank's most frequently originated type of loan was Conventional, with 78 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $20,095,000 $309,154 $0 0.00%
    Refi 8 $8,460,000 $1,057,500 $0 0.00%
    Cash Out Refi 3 $1,665,000 $555,000 $0 0.00%
    Other 2 $1,160,000 $580,000 $0 0.00%

    For 2019, Terrabank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 78 $31,380,000 $402,308 $0 0.00%

    For 2019, Terrabank's most frequently cited loan duration was Other, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 40 $11,450,000 $286,250 $0 0.00%
    $100k-200k 17 $2,895,000 $170,294 $0 0.00%
    $400k-600k 13 $6,325,000 $486,538 $0 0.00%
    $600k-1MM 5 $3,975,000 $795,000 $0 0.00%
    $1MM+ 3 $6,735,000 $2,245,000 $0 0.00%

    2019 saw Terrabank place emphasis on $200k-400k loans with 40 originations, totaling $11,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 10 $4,350,000 $435,000 $0 0.00%
    $150k-250k 9 $2,965,000 $329,444 $0 0.00%
    $100k-150k 7 $1,725,000 $246,429 $0 0.00%
    $75k-100k 1 $205,000 $205,000 $0 0.00%

    Terrabank lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 78 $31,380,000 $402,308 $0 0.00%

    Terrabank lent most frequently to those with DTI ratios of Exempt%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 51 $22,135,000 $434,020 $0 0.00%
    White 25 $8,505,000 $340,200 $0 0.00%
    Asian 2 $740,000 $370,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.11%

    Terrabank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.18%

    Terrabank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 78 $31,380,000 $402,308

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,860,000 $965,000
    Single Family (1-4 Units):Site-Built 74 $27,520,000 $371,892