Technology Mortgage Rates, Fees & Info

San Jose, CA

LEI: 5493007VGBHF6SRXRR53

Tax ID: 94-1651781

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Technology is a smaller mortgage company specializing in Home Improvement and Refi loans. Technology has a high proportion of conventional loans. Their top markets by origination volume include: San Jose, San Francisco, Los Angeles, Santa Cruz, and Sacramento among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Technology 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. Technology is typically a low 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/21/24
    30 Year Conventional Purchase 5.67% 4/21/24
    30 Year Conventional Refi 5.92% 4/21/24
    30 Year Cash-out Refi 6.00% 4/21/24
    15 Year Conventional Purchase 6.37% 4/21/24
    15 Year Conventional Refi 5.94% 4/21/24
    15 Year Cash-out Refi 5.94% 4/21/24
    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.

    Technology Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Technology. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    796

    Origination Dollar Volume (All Markets)

    $296,670,000

    Awards

    TECHNOLOGY 30 Year Conventional Loans silver TECHNOLOGY 30 Year Conventional Loans silver TECHNOLOGY 30 Year Conventional Loans gold
    Show all (3) awards

    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
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 472 $175,070,000 $370,911 $3,206 4.72%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 215 $85,665,000 $398,442 $3,839 4.66%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 19 $8,995,000 $473,421 $4,075 4.46%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 19 $7,265,000 $382,368 $3,032 4.87%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 19 $5,205,000 $273,947 $3,179 4.12%
    STOCKTON, CA (FHA|USDA|VA) 17 $4,775,000 $280,882 $3,866 4.29%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $2,590,000 $647,500 $3,733 4.00%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $1,525,000 $508,333 $3,987 3.96%
    SALINAS, CA (FHA|USDA|VA) 6 $1,330,000 $221,667 $2,442 4.69%
    NAPA, CA (FHA|USDA|VA) 1 $605,000 $605,000 $2,688 3.38%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $495,000 $495,000 $20,005 3.88%
    MERCED, CA (FHA|USDA|VA) 3 $455,000 $151,667 $2,884 4.50%
    Outside of Metro Areas 3 $355,000 $118,333 $1,346 6.42%
    MADERA, CA (FHA|USDA|VA) 1 $355,000 $355,000 $6,957 4.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $335,000 $111,667 $0 5.25%
    MODESTO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $3,422 4.13%
    FRESNO, CA (FHA|USDA|VA) 2 $270,000 $135,000 $1,982 3.94%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $260,000 $130,000 $0 5.38%
    VALLEJO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $1,676 2.63%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $2,342 3.38%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.25%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $105,000 $105,000 $1,642 3.25%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.25%
    Technology's top markets include San Jose, San Francisco, Los Angeles, Santa Cruz, and Sacramento among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TECHNOLOGY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 368
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 374
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    LBS FINANCIAL
    Similarity Rank: 546
    EXCITE Credit Union
    Similarity Rank: 817
    CommonWealth Central Credit Union
    Similarity Rank: 840
    LA Financial Federal Credit Union
    Similarity Rank: 951
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 1050

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 444 $97,090,000 $218,671 n/a 5.45%
    Conventional 352 $199,580,000 $566,989 $3,448 3.68%

    For 2019, Technology's most frequently originated type of loan was HELOC, with 444 originations. Their 2nd most popular type was Conventional, with 352 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 334 $68,770,000 $205,898 $909 5.51%
    Refi 226 $112,360,000 $497,168 $2,950 3.84%
    Cash Out Refi 99 $55,405,000 $559,646 $3,931 3.56%
    Other 73 $14,815,000 $202,945 $890 5.52%
    Home Purchase 64 $45,320,000 $708,125 $5,380 3.98%

    For 2019, Technology's most frequently cited loan purpose was Home Improvement, with 334 originations. The 2nd most popular reason was Refi, with 226 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 444 $97,090,000 $218,671 $0 5.45%
    30 Year 227 $160,255,000 $705,969 $4,040 3.58%
    15 Year 67 $20,255,000 $302,313 $2,147 3.98%
    10 Year 43 $13,315,000 $309,651 $2,424 3.43%
    20 Year 15 $5,755,000 $383,667 $3,152 4.51%

    For 2019, Technology's most frequently cited loan duration was Other, with 444 originations. The 2nd most popular length was 30 Year, with 227 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 238 $123,400,000 $518,487
    $1k-2k 63 $36,535,000 $579,921
    $2k-3k 17 $13,775,000 $810,294
    $3k-4k 14 $9,050,000 $646,429
    $5k+ 13 $12,225,000 $940,385
    $4k-5k 6 $4,200,000 $700,000

    Technology's average total fees were $4,040, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 238 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 366 $83,310,000 $227,623
    3-4% 218 $141,500,000 $649,083
    4-5% 96 $27,830,000 $289,896
    2.5-3% 57 $34,725,000 $609,211
    6-7% 41 $4,905,000 $119,634
    <2.5% 17 $4,275,000 $251,471
    7-8% 1 $125,000 $125,000

    During 2019, Technology's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 5-6%, with 366 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 265 $70,365,000 $265,528 $2,739 4.79%
    $100k-200k 164 $22,960,000 $140,000 $1,823 5.13%
    $400k-600k 113 $55,325,000 $489,602 $3,752 4.19%
    $100,000 or less 103 $6,205,000 $60,243 $848 5.57%
    $600k-1MM 97 $73,275,000 $755,412 $3,851 3.73%
    $1MM+ 54 $68,540,000 $1,269,259 $5,618 3.66%

    2019 saw Technology place emphasis on $200k-400k loans with 265 originations, totaling $70,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 353 $130,705,000 $370,269 $3,530 4.68%
    $250k+ 179 $106,105,000 $592,765 $4,331 4.60%
    $100k-150k 165 $42,495,000 $257,545 $2,749 4.70%
    $75k-100k 46 $9,630,000 $209,348 $2,737 4.65%
    $50k-75k 37 $5,445,000 $147,162 $2,654 4.75%
    $50k or less 15 $1,895,000 $126,333 $2,716 4.74%

    Technology lent most frequently to those with incomes in the $150k-250k range, with 353 originations. The second most popular income band? $250k+, with 179 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 174 $62,410,000 $358,678 $2,770 4.43%
    30-36% 142 $55,060,000 $387,746 $3,817 4.59%
    <20% 52 $15,980,000 $307,308 $3,592 4.44%
    50-60% 46 $14,090,000 $306,304 $6,721 5.18%
    43% 38 $12,100,000 $318,421 $2,721 5.03%
    37% 37 $17,095,000 $462,027 $3,577 4.30%
    41% 37 $13,875,000 $375,000 $3,562 4.69%
    42% 34 $18,260,000 $537,059 $3,866 4.66%
    46% 33 $7,565,000 $229,242 $4,225 5.29%
    40% 31 $15,115,000 $487,581 $3,935 4.33%
    44% 27 $10,795,000 $399,815 $3,160 4.81%
    39% 27 $11,845,000 $438,704 $4,755 4.42%
    47% 25 $5,345,000 $213,800 $4,168 5.10%
    36% 25 $11,895,000 $475,800 $2,958 4.50%
    38% 22 $10,410,000 $473,182 $2,856 4.67%
    45% 18 $6,180,000 $343,333 $5,812 5.32%
    49% 18 $4,850,000 $269,444 $3,449 5.16%
    48% 9 $3,405,000 $378,333 $2,780 5.10%

    Technology lent most frequently to those with DTI ratios of 20-30%, with 174 originations. The next most common DTI ratio? 30-36%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 252 $117,580,000 $466,587 $3,671 4.35%
    White 351 $116,325,000 $331,410 $3,367 4.78%
    Not provided 74 $36,000,000 $486,486 $3,657 3.87%
    Asian Indian 48 $10,200,000 $212,500 $916 5.67%
    Chinese 20 $5,180,000 $259,000 $0 5.44%
    Black 14 $3,210,000 $229,286 $1,389 5.47%
    Native Hawaiian or Islander 4 $2,340,000 $585,000 $2,928 3.75%
    Vietnamese 8 $2,060,000 $257,500 $946 5.59%
    Filipino 10 $1,380,000 $138,000 $894 5.71%
    Korean 4 $1,040,000 $260,000 $0 5.31%
    Japanese 5 $755,000 $151,000 $781 5.40%
    American Indian 6 $600,000 $100,000 $786 5.38%

    Approval Rates

    Total approvals of all applications
    84.75%

    Technology has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    50.88%

    Technology 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 796 $296,670,000 $372,701

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $395,000 $395,000
    Single Family (1-4 Units):Site-Built 795 $296,275,000 $372,673

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 186 $72,930,000 $392,097 $3,003 4.60%
    40-60% 89 $54,365,000 $610,843 $3,655 3.75%
    60-80% 118 $90,640,000 $768,136 $4,320 3.60%
    80-100% 14 $13,440,000 $960,000 $5,528 3.65%
    Under 20% 388 $65,280,000 $168,247 $1,608 5.27%