T. J. Financial Mortgage Rates, Fees & Info
MONROVIA, CALEI: 5493005NIBYLNJC10826
Tax ID: 95-4248183
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Mortgage Data
Review & Overview
T. J. Financial is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. T. J. Financial has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, San Diego, and San Jose among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)T. J. Financial 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. T. J. Financial is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
T. J. Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
250Origination Dollar Volume (All Markets)
$140,540,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 142 | $81,120,000 | $571,268 | $7,068 | 4.67% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 43 | $19,435,000 | $451,977 | $4,489 | 4.53% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 21 | $17,385,000 | $827,857 | $0 | 4.29% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 17 | $9,125,000 | $536,765 | $0 | 3.86% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 10 | $7,020,000 | $702,000 | $2,328 | 4.71% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $2,440,000 | $406,667 | $0 | 4.44% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $1,540,000 | $385,000 | $2,710 | 5.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $0 | 4.71% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $3,339 | 4.71% |
| MERCED, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 4.75% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 250 | $140,540,000 | $562,160 | $6,160 | 4.57% |
For 2022, T. J. Financial's most frequently originated type of loan was Conventional, with 250 originations.
Loan Reason
For 2022, T. J. Financial's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Cash Out Refi, with 68 originations.
Loan Duration/Length
For 2022, T. J. Financial's most frequently cited loan duration was 30 Year, with 218 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 21 | $13,325,000 | $634,524 |
| $5k+ | 10 | $6,050,000 | $605,000 |
| $2k-3k | 2 | $470,000 | $235,000 |
| $3k-4k | 1 | $215,000 | $215,000 |
T. J. Financial's average total fees were $6,160, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.
Interest Rates
During 2022, T. J. Financial's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 3-4%, with 72 originations.
Loan Sizing
2022 saw T. J. Financial place emphasis on $600k-1MM loans with 83 originations, totaling $59,975,000 in origination value.
Applicant Income
T. J. Financial lent most frequently to those with incomes in the $150k-250k range, with 68 originations. The second most popular income band? $250k+, with 60 originations.
Applicant Debt to Income Ratio
T. J. Financial lent most frequently to those with DTI ratios of >60%, with 14 originations. The next most common DTI ratio? 43%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
T. J. Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.80%
T. J. Financial 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 | 250 | $140,540,000 | $562,160 |