Tri Boro Mortgage Rates, Fees & Info

Munhall, PA

LEI: 5493008YRTIU0FNCTY07

Tax ID: 25-0974219

5 stars - Updated: 3/17/24 - out of 5 stars, based on 11 reviews

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

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Mortgage Data

Review & Overview

Tri Boro is a smaller mortgage company specializing in Home Purchase and Refi loans. Tri Boro has a high proportion of conventional loans. Their top two markets are Pittsburgh and Youngstown .

Tri Boro 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. Tri Boro 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.78% 3/17/24
30 Year Conventional Refi 5.82% 3/17/24
30 Year Cash-out Refi 4.64% 3/17/24
15 Year Conventional Purchase 8.77% 3/17/24
15 Year Conventional Refi 5.76% 3/17/24
15 Year Cash-out Refi 5.76% 3/17/24
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.

Tri Boro Mortgage Calculator






Your Estimates

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

This is not an official calculator from Tri Boro. 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

114

Origination Dollar Volume (All Markets)

$14,920,000

Awards

TRI BORO 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Tri Boro's average 30 year fixed mortgage rate was 4.46%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.3%.

Relative Fees (Closing Costs)

Tri Boro's average total fees/closing costs for a 30 year fixed rate mortgage were $4,440.

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

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
PITTSBURGH, PA (FHA|USDA|VA) 113 $14,785,000 $130,841 $1,868 4.69%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $135,000 $135,000 $2,679 3.25%
Tri Boro's top markets include Pittsburgh and Youngstown among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

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

    TRI BORO
    Similarity Rank: 208
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 322
    Clear Mountain Bank
    Similarity Rank: 580
    AmeriServ Financial Bank
    Similarity Rank: 1056
    Washington Financial Bank
    Similarity Rank: 1290
    Community Bank
    Similarity Rank: 1680
    Sail Mortgage Corp.
    Similarity Rank: 1862

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 101 $13,925,000 $137,871 $1,876 4.57%
    HELOC 13 $995,000 $76,538 n/a 5.52%

    For 2022, Tri Boro's most frequently originated type of loan was Conventional, with 101 originations. Their 2nd most popular type was HELOC, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $7,280,000 $227,500 $4,122 4.49%
    Other 29 $2,055,000 $70,862 $300 5.04%
    Refi 23 $3,335,000 $145,000 $1,551 4.24%
    Home Improvement 16 $930,000 $58,125 $253 5.11%
    Cash Out Refi 14 $1,320,000 $94,286 $1,038 4.56%

    For 2022, Tri Boro's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Other, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 33 $7,825,000 $237,121 $4,440 4.46%
    20 Year 24 $2,140,000 $89,167 $560 4.67%
    15 Year 20 $1,850,000 $92,500 $289 4.71%
    10 Year 17 $905,000 $53,235 $253 4.62%
    Other 14 $1,120,000 $80,000 $1,122 5.29%
    5 Year 4 $230,000 $57,500 $293 5.02%
    30+ year 2 $850,000 $425,000 $7,702 3.50%

    For 2022, Tri Boro's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 20 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 34 $8,210,000 $241,471
    $1k-2k 3 $715,000 $238,333
    $2k-3k 1 $285,000 $285,000

    Tri Boro's average total fees were $4,440, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 50 $7,350,000 $147,000
    4-5% 26 $2,690,000 $103,462
    5-6% 24 $3,340,000 $139,167
    6-7% 7 $735,000 $105,000
    Over 8% 3 $165,000 $55,000
    2.5-3% 2 $500,000 $250,000
    7-8% 2 $140,000 $70,000

    During 2022, Tri Boro's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 3-4%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,250,000 $52,419 $455 4.90%
    $100k-200k 36 $4,960,000 $137,778 $2,028 4.52%
    $200k-400k 10 $2,970,000 $297,000 $4,830 4.06%
    $400k-600k 4 $1,910,000 $477,500 $5,414 4.13%
    $1MM+ 1 $1,205,000 $1,205,000 $7,385 5.63%
    $600k-1MM 1 $625,000 $625,000 $26,429 3.75%

    2022 saw Tri Boro place emphasis on $100,000 or less loans with 62 originations, totaling $3,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 29 $2,325,000 $80,172 $1,506 5.08%
    $75k-100k 23 $3,355,000 $145,870 $2,089 4.49%
    $100k-150k 22 $3,250,000 $147,727 $2,730 4.91%
    $50k or less 20 $1,230,000 $61,500 $997 4.46%
    $150k-250k 15 $3,785,000 $252,333 $1,922 4.25%
    $250k+ 4 $890,000 $222,500 $4,683 4.41%

    Tri Boro lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $75k-100k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 39 $4,465,000 $114,487 $2,018 4.45%
    20-30% 33 $3,255,000 $98,636 $1,201 5.24%
    30-36% 17 $2,085,000 $122,647 $2,361 4.02%
    39% 4 $1,400,000 $350,000 $7,385 5.66%
    37% 4 $780,000 $195,000 $3,449 4.56%
    40% 3 $575,000 $191,667 $249 3.58%
    50-60% 2 $340,000 $170,000 $2,867 3.13%
    38% 2 $490,000 $245,000 $2,363 5.86%
    41% 2 $290,000 $145,000 $1,979 6.80%
    42% 1 $65,000 $65,000 $249 5.25%
    43% 1 $35,000 $35,000 $249 5.25%
    44% 1 $575,000 $575,000 $5,245 3.13%
    47% 1 $75,000 $75,000 $249 4.00%
    48% 1 $65,000 $65,000 $0 4.25%
    49% 1 $45,000 $45,000 $249 4.60%
    36% 1 $295,000 $295,000 $3,886 4.75%

    Tri Boro lent most frequently to those with DTI ratios of <20%, with 39 originations. The next most common DTI ratio? 20-30%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 107 $14,465,000 $135,187 $1,909 4.66%
    Black 6 $270,000 $45,000 $1,042 4.83%
    Asian Indian 1 $185,000 $185,000 $3,044 6.00%

    Approval Rates

    Total approvals of all applications
    98.62%

    Tri Boro 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
    89.47%

    Tri Boro has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 114 $14,920,000 $130,877

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $14,920,000 $130,877

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,825,000 $67,593 $364 4.92%
    40-60% 21 $2,065,000 $98,333 $1,055 4.28%
    60-80% 23 $5,055,000 $219,783 $3,038 4.26%
    80-100% 24 $5,250,000 $218,750 $4,025 4.83%
    Under 20% 19 $725,000 $38,158 $263 5.07%