Technology Mortgage Rates, Fees & Info
San Jose, CALEI: 5493007VGBHF6SRXRR53
Tax ID: 94-1651781
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Mortgage Data
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 26 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 5.67% | 12/16/24 |
| 30 Year Conventional Refi | 5.92% | 12/16/24 |
| 30 Year Cash-out Refi | 6.00% | 12/16/24 |
| 15 Year Conventional Purchase | 6.37% | 12/16/24 |
| 15 Year Conventional Refi | 5.94% | 12/16/24 |
| 15 Year Cash-out Refi | 5.94% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,169Origination Dollar Volume (All Markets)
$581,495,000Awards
TECHNOLOGY - 2021
TECHNOLOGY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 673 | $326,385,000 | $484,970 | $4,650 | 3.09% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 350 | $199,670,000 | $570,486 | $4,980 | 3.01% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 24 | $12,150,000 | $506,250 | $5,220 | 3.03% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 28 | $11,670,000 | $416,786 | $5,160 | 3.17% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 16 | $6,210,000 | $388,125 | $4,927 | 2.95% |
| STOCKTON, CA (FHA|USDA|VA) | 20 | $5,980,000 | $299,000 | $4,876 | 3.09% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 8 | $5,060,000 | $632,500 | $7,735 | 3.11% |
| SALINAS, CA (FHA|USDA|VA) | 5 | $1,935,000 | $387,000 | $3,740 | 3.58% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 6 | $1,910,000 | $318,333 | $5,519 | 3.15% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $4,824 | 2.78% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $7,007 | 2.79% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $6,474 | 2.88% |
| MERCED, CA (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $6,234 | 2.70% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $4,755 | 2.94% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $5,479 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,214 | 2.94% |
| Sonora, CA (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $2,664 | 3.19% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $7,273 | 3.21% |
| Outside of Metro Areas | 2 | $430,000 | $215,000 | $0 | 3.50% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $1,743 | 2.75% |
| NAPA, CA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,322 | 2.88% |
| CHICO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,218 | 2.38% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $1,860 | 2.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,380 | 2.25% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 649 | $171,845,000 | $264,784 | n/a | 3.38% |
| Conventional | 520 | $409,650,000 | $787,788 | $4,825 | 2.66% |
For 2021, Technology's most frequently originated type of loan was HELOC, with 649 originations. Their 2nd most popular type was Conventional, with 520 originations.
Loan Reason
For 2021, Technology's most frequently cited loan purpose was Home Improvement, with 486 originations. The 2nd most popular reason was Refi, with 337 originations.
Loan Duration/Length
For 2021, Technology's most frequently cited loan duration was 15 Year, with 698 originations. The 2nd most popular length was 30 Year, with 386 originations.
Origination Fees/Closing Costs
Technology's average total fees were $5,201, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 196 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 697 | $215,515,000 | $309,204 |
| <2.5% | 252 | $207,900,000 | $825,000 |
| 2.5-3% | 212 | $156,810,000 | $739,670 |
| 5-6% | 7 | $565,000 | $80,714 |
| 4-5% | 1 | $705,000 | $705,000 |
During 2021, Technology's average interest rate for loans was 2.67%, while their most frequently originated rate bucket for loans was 3-4%, with 697 originations.
Loan Sizing
2021 saw Technology place emphasis on $200k-400k loans with 403 originations, totaling $107,095,000 in origination value.
Applicant Income
Technology lent most frequently to those with incomes in the $150k-250k range, with 502 originations. The second most popular income band? $250k+, with 384 originations.
Applicant Debt to Income Ratio
Technology lent most frequently to those with DTI ratios of 20-30%, with 286 originations. The next most common DTI ratio? 30-36%, with 241 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.03%
Technology has an average approval rate.
Pick Rate
Approvals leading to origination65.87%
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 | 1,169 | $581,495,000 | $497,429 |