Tri Boro Mortgage Rates, Fees & Info
Munhall, PALEI: 5493008YRTIU0FNCTY07
Tax ID: 25-0974219
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Mortgage Data
Review & Overview
Tri Boro is a smaller mortgage company specializing in Other, 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.78% | 11/21/24 |
| 30 Year Conventional Refi | 5.82% | 11/21/24 |
| 30 Year Cash-out Refi | 4.64% | 11/21/24 |
| 15 Year Conventional Purchase | 8.77% | 11/21/24 |
| 15 Year Conventional Refi | 5.76% | 11/21/24 |
| 15 Year Cash-out Refi | 5.76% | 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. | ||
Tri Boro Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
91Origination Dollar Volume (All Markets)
$7,995,000Awards
TRI BORO - 2020
TRI BORO is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 90 | $7,880,000 | $87,556 | $1,387 | 4.10% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,856 | 3.38% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $7,735,000 | $91,000 | $1,406 | 3.94% |
| HELOC | 6 | $260,000 | $43,333 | n/a | 6.21% |
For 2020, Tri Boro's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
For 2020, Tri Boro's most frequently cited loan purpose was Other, with 32 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
For 2020, Tri Boro's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 10 Year, with 23 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 32 | $4,550,000 | $142,188 |
| $1k-2k | 2 | $450,000 | $225,000 |
Tri Boro's average total fees were $2,888, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 65 | $6,005,000 | $92,385 |
| 4-5% | 12 | $390,000 | $32,500 |
| 2.5-3% | 8 | $1,320,000 | $165,000 |
| 6-7% | 3 | $145,000 | $48,333 |
| Over 8% | 3 | $135,000 | $45,000 |
During 2020, Tri Boro's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 65 originations.
Loan Sizing
2020 saw Tri Boro place emphasis on $100,000 or less loans with 60 originations, totaling $2,660,000 in origination value.
Applicant Income
Tri Boro lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 21 originations.
Applicant Debt to Income Ratio
Tri Boro lent most frequently to those with DTI ratios of <20%, with 36 originations. The next most common DTI ratio? 20-30%, with 19 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 89 | $7,605,000 | $85,449 | $1,390 | 4.07% |
| Black | 2 | $390,000 | $195,000 | $2,014 | 4.99% |
Approval Rates
Total approvals of all applications97.00%
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 origination94.51%
Tri Boro has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 91 | $7,995,000 | $87,857 |