Tower Mortgage Rates, Fees & Info
Laurel, MDLEI: 54930080168VA6Z8UX21
Tax ID: 53-0214895
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Tower is a small mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Tower has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Philadelphia, Charlotte, and New York among others. We have data for 170 markets. (Some data included below & more in-depth data is available with an active subscription.)Tower 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. Tower 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.
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) | 6.40% | 11/22/24 |
| 30 Year Conventional Purchase | 5.80% | 11/22/24 |
| 30 Year Conventional Refi | 6.00% | 11/22/24 |
| 30 Year Cash-out Refi | 5.90% | 11/22/24 |
| 30 Year VA Purchase | 5.47% | 11/22/24 |
| 15 Year Conventional Purchase | 5.84% | 11/22/24 |
| 15 Year Conventional Refi | 5.63% | 11/22/24 |
| 15 Year Cash-out Refi | 5.63% | 11/22/24 |
| 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. | ||
Tower Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Tower. 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
6,353Origination Dollar Volume (All Markets)
$1,020,535,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2,194 | $408,130,000 | $186,021 | $4,121 | 3.81% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1,695 | $282,115,000 | $166,440 | $4,096 | 3.93% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 565 | $69,325,000 | $122,699 | $3,157 | 4.11% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 276 | $35,130,000 | $127,283 | $1,003 | 4.08% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 179 | $26,515,000 | $148,128 | $6,516 | 4.12% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 126 | $19,610,000 | $155,635 | $4,433 | 3.60% |
| RICHMOND, VA (FHA|USDA|VA) | 144 | $17,200,000 | $119,444 | $1,792 | 4.17% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 107 | $14,435,000 | $134,907 | $2,223 | 4.27% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 97 | $13,285,000 | $136,959 | $2,504 | 4.03% |
| Outside of Metro Areas | 62 | $11,760,000 | $189,677 | $4,370 | 3.77% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 62 | $9,270,000 | $149,516 | $5,152 | 4.02% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 60 | $7,060,000 | $117,667 | $4,312 | 4.03% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 35 | $4,895,000 | $139,857 | $4,266 | 3.85% |
| PITTSBURGH, PA (FHA|USDA|VA) | 33 | $3,715,000 | $112,576 | $5,964 | 3.98% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 25 | $3,605,000 | $144,200 | $0 | 3.54% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 24 | $3,530,000 | $147,083 | $2,783 | 4.15% |
| Easton, MD (FHA|USDA|VA) | 19 | $3,475,000 | $182,895 | $2,646 | 3.59% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 45 | $3,395,000 | $75,444 | $64 | 5.03% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 22 | $3,270,000 | $148,636 | $4,085 | 3.87% |
| COLUMBIA, SC (FHA|USDA|VA) | 17 | $2,925,000 | $172,059 | $7,314 | 3.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 18 | $2,650,000 | $147,222 | $5,535 | 3.83% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 18 | $2,610,000 | $145,000 | $4,968 | 3.67% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 21 | $2,385,000 | $113,571 | $0 | 4.25% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 14 | $2,140,000 | $152,857 | $0 | 4.18% |
| WILMINGTON, NC (FHA|USDA|VA) | 21 | $2,115,000 | $100,714 | $2,385 | 4.10% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 23 | $2,035,000 | $88,478 | $0 | 4.65% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $1,855,000 | $371,000 | $5,505 | 4.32% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 13 | $1,715,000 | $131,923 | $1,961 | 4.08% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 7 | $1,715,000 | $245,000 | $4,801 | 5.02% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $1,635,000 | $233,571 | $5,046 | 3.57% |
| ASHEVILLE, NC (FHA|USDA|VA) | 11 | $1,595,000 | $145,000 | $1,766 | 4.20% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 13 | $1,495,000 | $115,000 | $4,674 | 4.20% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $4,132 | 4.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $3,801 | 3.60% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 9 | $1,445,000 | $160,556 | $4,045 | 3.90% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 11 | $1,435,000 | $130,455 | $2,090 | 4.67% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $1,430,000 | $178,750 | $4,315 | 4.03% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 8 | $1,410,000 | $176,250 | $0 | 4.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $6,026 | 3.42% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 10 | $1,320,000 | $132,000 | $3,399 | 3.57% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 16 | $1,310,000 | $81,875 | $0 | 4.19% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 8 | $1,240,000 | $155,000 | $3,714 | 4.28% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 15 | $1,185,000 | $79,000 | $1,524 | 4.12% |
| GETTYSBURG, PA (FHA|USDA|VA) | 10 | $1,130,000 | $113,000 | $4,919 | 3.33% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $4,071 | 3.48% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $0 | 4.46% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 10 | $1,020,000 | $102,000 | $0 | 3.80% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 10 | $970,000 | $97,000 | $6,080 | 3.96% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $6,287 | 3.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 6 | $950,000 | $158,333 | $0 | 4.42% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $8,092 | 3.19% |
| LANCASTER, PA (FHA|USDA|VA) | 7 | $795,000 | $113,571 | $0 | 3.89% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $3,704 | 3.81% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 6 | $730,000 | $121,667 | $1,947 | 4.33% |
| HARRISONBURG, VA (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $4,054 | 3.66% |
| STAUNTON, VA (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $3,243 | 3.23% |
| ROANOKE, VA (FHA|USDA|VA) | 10 | $700,000 | $70,000 | $0 | 3.90% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $8,370 | 3.88% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $4,033 | 3.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $3,595 | 3.63% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $4,560 | 3.83% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $0 | 3.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $4,518 | 3.13% |
| DOVER, DE (FHA|USDA|VA) | 7 | $565,000 | $80,714 | $3,644 | 3.88% |
| LYNCHBURG, VA (FHA|USDA|VA) | 7 | $555,000 | $79,286 | $0 | 4.50% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $3,509 | 3.25% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $2,664 | 3.33% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 6 | $530,000 | $88,333 | $0 | 4.83% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,808 | 3.50% |
| Morehead City, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $0 | 2.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $500,000 | $83,333 | $0 | 3.42% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,318 | 4.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $7,384 | 3.81% |
| Somerset, PA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,683 | 3.38% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $3,625 | 3.96% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,964 | 3.63% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,763 | 3.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,829 | 2.75% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,778 | 3.69% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,630 | 3.13% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 4.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $345,000 | $69,000 | $3,428 | 4.68% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,686 | 3.19% |
| Georgetown, SC (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 3.25% |
| NEW BERN, NC (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 4.33% |
| Forest City, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,359 | 3.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 7 | $305,000 | $43,571 | $0 | 4.32% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,247 | 3.13% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,222 | 3.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,536 | 3.38% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,000 | 5.12% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 4.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 5.13% |
| READING, PA (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 4.00% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 4.42% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,782 | 4.63% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $4,832 | 3.38% |
| Boone, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 2.75% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.75% |
| Key West, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.25% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.25% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $5,068 | 3.13% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 4.63% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,362 | 3.25% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,363 | 3.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,457 | 3.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 2.75% |
| Starkville, MS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,836 | 3.75% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 2.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,334 | 3.50% |
| Torrington, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 5.75% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 5.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,732 | 3.13% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.25% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 3.50% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $3,238 | 4.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,224 | 3.50% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 3.50% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,373 | 3.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $2,868 | 4.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.00% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 3.50% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.75% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.25% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,765 | 2.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,103 | 3.13% |
| FARMINGTON, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,001 | 3.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $3,361 | 4.75% |
| ERIE, PA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 5.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.25% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| New Castle, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.50% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.75% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.75% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| Indiana, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,777 | 3.00% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,609 | 3.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 4.37% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 4.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,935 | 2.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.25% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.25% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| Sanford, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.25% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,625 | 3.63% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.25% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.25% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 2.75% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.99% |
| Washington, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 2.75% |
| FAIRBANKS, AK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.25% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.25% |
| Warren, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.25% |
| Danville, VA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.25% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.25% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.25% |
| SALEM, OR (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against TOWER based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 271
Similarity Rank: 640
Similarity Rank: 680
Similarity Rank: 1100
Similarity Rank: 1122
Similarity Rank: 1296
Similarity Rank: 1465
Similarity Rank: 1506
Similarity Rank: 1782
Similarity Rank: 1920
Product Mix
For 2020, Tower's most frequently originated type of loan was HELOC, with 4,890 originations. Their 2nd most popular type was Conventional, with 1,455 originations.
Loan Reason
For 2020, Tower's most frequently cited loan purpose was Home Purchase, with 2,219 originations. The 2nd most popular reason was Home Improvement, with 1,388 originations.
Loan Duration/Length
For 2020, Tower's most frequently cited loan duration was 30 Year, with 5,672 originations. The 2nd most popular length was 15 Year, with 329 originations.
Origination Fees/Closing Costs
Tower's average total fees were $5,107, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 690 originations.
Interest Rates
During 2020, Tower's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 4-5%, with 2,991 originations.
Loan Sizing
2020 saw Tower place emphasis on $100,000 or less loans with 2,445 originations, totaling $152,315,000 in origination value.
Applicant Income
Tower lent most frequently to those with incomes in the $150k-250k range, with 2,453 originations. The second most popular income band? $250k+, with 1,507 originations.
Applicant Debt to Income Ratio
Tower lent most frequently to those with DTI ratios of 20-30%, with 1,818 originations. The next most common DTI ratio? 30-36%, with 1,259 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.88%
Tower has a below average approval rate.
Pick Rate
Approvals leading to origination77.05%
Tower has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,353 | $1,020,535,000 | $160,638 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 6,353 | $1,020,535,000 | $160,638 |