Trinity Oaks Mortgage Rates, Fees & Info

Red Oak, TX

LEI: 254900YJQZQTI7TUKN67

Tax ID: 30-0889616

2.1 stars - out of 5 stars, based on 38 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Trinity Oaks Mortgage is a smaller mortgage company specializing in Home Purchase loans. Trinity Oaks Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Dallas, Houston, Waco, Austin, and Pueblo among others. Trinity Oaks Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Trinity Oaks Mortgage is typically a high fee lendor.


Originations

1,441

Origination Dollar Volume (All Markets)

$432,865,000

Relative Rate

Trinity Oaks Mortgage 's average 30 year fixed rate mortgage of loans were 3.17%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.02%.

Relative Fees

Trinity Oaks Mortgage 's average total fees for a 30 year fixed rate mortgage are $7,607.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,139 $352,575,000 $309,548 $7,533 3.12%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 143 $37,495,000 $262,203 $6,540 3.12%
WACO, TX (FHA|USDA|VA) 44 $13,660,000 $310,455 $7,870 3.11%
Outside of Metro Areas 23 $5,785,000 $251,522 $6,768 3.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 12 $3,850,000 $320,833 $6,337 3.19%
PUEBLO, CO (FHA|USDA|VA) 15 $3,565,000 $237,667 $6,873 3.24%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 7 $2,185,000 $312,143 $7,846 3.04%
SHERMAN-DENISON, TX (FHA|USDA|VA) 8 $1,930,000 $241,250 $6,615 3.20%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $1,550,000 $387,500 $7,306 3.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,175,000 $235,000 $4,829 3.07%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 6 $1,130,000 $188,333 $6,010 3.12%
Granbury, TX (FHA|USDA|VA) 3 $1,035,000 $345,000 $6,300 3.16%
Athens, TX (FHA|USDA|VA) 3 $765,000 $255,000 $6,359 2.83%
Palestine, TX (FHA|USDA|VA) 2 $540,000 $270,000 $5,386 2.88%
LONGVIEW, TX (FHA|USDA|VA) 3 $535,000 $178,333 $4,819 3.33%
Huntsville, TX (FHA|USDA|VA) 2 $490,000 $245,000 $5,910 2.62%
AMARILLO, TX (FHA|USDA|VA) 3 $405,000 $135,000 $4,409 2.79%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $385,000 $385,000 $5,232 3.50%
Pampa, TX (FHA|USDA|VA) 2 $380,000 $190,000 $4,439 3.31%
LUBBOCK, TX (FHA|USDA|VA) 3 $365,000 $121,667 $6,020 3.88%
Brenham, TX (FHA|USDA|VA) 1 $365,000 $365,000 $6,327 2.99%
ABILENE, TX (FHA|USDA|VA) 1 $325,000 $325,000 $7,286 3.00%
Del Rio, TX (FHA|USDA|VA) 1 $315,000 $315,000 $12,180 2.80%
Cañon City, CO (FHA|USDA|VA) 1 $305,000 $305,000 $9,608 3.25%
Paris, TX (FHA|USDA|VA) 2 $290,000 $145,000 $6,135 3.25%
Garden City, KS (FHA|USDA|VA) 1 $285,000 $285,000 $6,846 3.00%
TOPEKA, KS (FHA|USDA|VA) 1 $285,000 $285,000 $3,207 3.49%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,877 3.25%
Corsicana, TX (FHA|USDA|VA) 1 $195,000 $195,000 $6,486 2.99%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $195,000 $195,000 $5,977 3.38%
Bonham, TX (FHA|USDA|VA) 1 $185,000 $185,000 $9,190 3.75%
Lufkin, TX (FHA|USDA|VA) 1 $115,000 $115,000 $6,154 3.63%

Trinity Oaks Mortgage 's top markets include Dallas, Houston, Waco, Austin, and Pueblo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,053 $308,105,000 $292,597 $6,148 3.11%
FHA 225 $63,735,000 $283,267 $11,246 3.37%
VA 155 $59,065,000 $381,065 $9,927 2.88%
USDA 8 $1,960,000 $245,000 $7,734 2.94%

For the 2021 period, Trinity Oaks Mortgage 's most frequently originated loan type of loans were Conventional, with 1,053 originations. Their 2nd most popular type is FHA, with 225 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,025 $323,995,000 $316,093 $8,209 3.16%
Refi 258 $69,030,000 $267,558 $4,828 2.89%
Cash Out Refi 158 $39,840,000 $252,152 $5,978 3.27%

For the 2021, Trinity Oaks Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,025 originations. The 2nd most popular reason of loans were Refi, with 258 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,297 $397,515,000 $306,488 $7,607 3.17%
15 Year 95 $22,045,000 $232,053 $5,095 2.53%
20 Year 31 $8,295,000 $267,581 $5,231 2.97%
Other 12 $4,040,000 $336,667 $4,966 3.05%
10 Year 6 $970,000 $161,667 $5,341 2.48%

For the 2021, Trinity Oaks Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,297 originations. The 2nd most popular length of loans were 15 Year, with 95 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 843 $244,395,000 $289,911
$3k-4k 196 $63,190,000 $322,398
$2k-3k 191 $59,095,000 $309,398
$<1k 123 $33,375,000 $271,341
$5k+ 88 $32,810,000 $372,841

$7,607 of loans were Trinity Oaks Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 843 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 722 $218,030,000 $301,981
2.5-3% 561 $171,285,000 $305,321
<2.5% 112 $31,720,000 $283,214
4-5% 46 $11,830,000 $257,174

During 2021, Trinity Oaks Mortgage 's average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 3-4%, with 722 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 881 $257,175,000 $291,913 $7,464 3.14%
$400k-600k 274 $127,350,000 $464,781 $9,305 3.08%
$100k-200k 249 $39,905,000 $160,261 $5,119 3.12%
$100,000 or less 28 $2,320,000 $82,857 $4,082 3.11%
$600k-1MM 9 $6,115,000 $679,444 $10,058 2.85%

2021 saw Trinity Oaks Mortgage place emphasis on $200k-400k loans with 881 originations, totaling $257,175,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 446 $144,000,000 $322,870 $7,478 3.12%
$75k-100k 299 $83,775,000 $280,184 $7,487 3.15%
$50k-75k 273 $63,795,000 $233,681 $7,117 3.17%
$150k-250k 252 $94,810,000 $376,230 $7,912 3.10%
$50k or less 63 $10,475,000 $166,270 $6,166 3.17%
$250k+ 56 $20,250,000 $361,607 $7,474 3.20%

Trinity Oaks Mortgage lent most frequently to those with incomes in the $100k-150k range, with 446 originations. The second most popular income band? $75k-100k, with 299 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 264 $80,770,000 $305,947 $7,282 3.12%
20-30% 250 $71,680,000 $286,720 $6,496 3.06%
50-60% 91 $30,435,000 $334,451 $10,912 3.19%
<20% 87 $22,555,000 $259,253 $5,660 2.91%
43% 67 $19,985,000 $298,284 $7,432 3.18%
40% 66 $19,810,000 $300,152 $7,660 3.14%
36% 59 $17,625,000 $298,729 $6,628 3.24%
41% 59 $18,115,000 $307,034 $8,132 3.22%
38% 58 $16,740,000 $288,621 $7,133 3.13%
42% 55 $16,975,000 $308,636 $7,515 3.19%
37% 52 $14,630,000 $281,346 $6,955 3.13%
44% 51 $15,965,000 $313,039 $7,486 3.21%
49% 50 $15,600,000 $312,000 $7,590 3.20%
47% 50 $15,170,000 $303,400 $7,310 3.10%
45% 49 $15,765,000 $321,735 $8,034 3.14%
39% 47 $14,145,000 $300,957 $7,221 3.17%
46% 32 $9,200,000 $287,500 $7,614 3.14%
48% 28 $9,500,000 $339,286 $8,929 3.33%
>60% 6 $3,010,000 $501,667 $11,023 2.92%

Trinity Oaks Mortgage lent most frequently to those with DTI ratios of 30-36%, with 264 originations. The next most common DTI ratio? 20-30%, with 250 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,092 $314,890,000 $288,361 $6,901 3.11%
Black 186 $65,980,000 $354,731 $9,556 3.17%
Not provided 108 $34,340,000 $317,963 $8,185 3.16%
Asian 40 $13,040,000 $326,000 $7,153 3.00%
American Indian 12 $3,850,000 $320,833 $8,758 3.09%
Native Hawaiian 3 $765,000 $255,000 $5,210 3.46%

Approval Rates

Total approvals of all applications
97.01%

Trinity Oaks Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
69.37%

Trinity Oaks Mortgage 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
NA 1,441 $432,865,000 $300,392

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,441 $432,865,000 $300,392

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 46 $7,860,000 $170,870 $5,064 2.80%
40-60% 133 $28,145,000 $211,617 $4,949 2.90%
60-80% 418 $120,930,000 $289,306 $5,984 3.13%
80-100% 816 $265,750,000 $325,674 $8,254 3.18%
Over 100% 26 $10,060,000 $386,923 $17,976 2.89%
Under 20% 2 $120,000 $60,000 $4,597 2.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Trinity Financial Services, LLC Conventional home mortgage Closing on a mortgage 1 11.1%
Trinity Financial Services, LLC Conventional home mortgage Struggling to pay mortgage 3 33.3%
Trinity Financial Services, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 33.3%
Trinity Financial Services, LLC Other type of mortgage Struggling to pay mortgage 2 22.2%