Tct Mortgage Rates, Fees & Info
Ballston Spa, NYLEI: 549300A23PXRZCMYM504
Tax ID: 14-1512118
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Mortgage Data
Review & Overview
Tct is a smaller mortgage company specializing in Cash Out Refi loans. Tct has a high proportion of conventional loans. Tct has an average proportion of conventional loans. Their top markets by origination volume include: Glens Falls, Albany, and Plattsburgh among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Tct 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. Tct 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 relatively high 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 | 6.95% | 12/2/24 |
| 30 Year Cash-out Refi | 6.86% | 12/2/24 |
| 15 Year Conventional Purchase | 6.34% | 12/2/24 |
| 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. | ||
Tct Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
84Origination Dollar Volume (All Markets)
$6,000,000Relative Rate
Tct's average 30 year fixed mortgage rate was
5.81%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.67%.
Relative Fees (Closing Costs)
Tct's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,354.
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 $9,089.
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 |
|---|---|---|---|---|---|
| GLENS FALLS, NY (FHA|USDA|VA) | 48 | $3,250,000 | $67,708 | $4,633 | 5.38% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 32 | $2,100,000 | $65,625 | $3,083 | 6.00% |
| Outside of Metro Areas | 3 | $535,000 | $178,333 | $0 | 0.00% |
| Plattsburgh, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 81 | $5,435,000 | $67,099 | $0 | 0.00% |
| Conventional | 3 | $565,000 | $188,333 | $4,117 | 5.58% |
For 2023, Tct's most frequently originated type of loan was Conventional, with 81 originations. Their 2nd most popular type was Conventional, with 3 originations.
Loan Reason
For 2023, Tct's most frequently cited loan purpose was Cash Out Refi, with 61 originations. The 2nd most popular reason was Home Improvement, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 81 | $5,435,000 | $67,099 | $0 | 0.00% |
| 30 Year | 2 | $470,000 | $235,000 | $3,354 | 5.81% |
| 15 Year | 1 | $95,000 | $95,000 | $5,643 | 5.13% |
For 2023, Tct's most frequently cited loan duration was Other, with 81 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $470,000 | $235,000 |
| $2k-3k | 1 | $95,000 | $95,000 |
Tct's average total fees were $3,354, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 3 | $565,000 | $188,333 |
During 2023, Tct's average interest rate for loans was 5.81%, while their most frequently originated rate bucket for loans was 5-6%, with 3 originations.
Loan Sizing
2023 saw Tct place emphasis on $100,000 or less loans with 66 originations, totaling $2,980,000 in origination value.
Applicant Income
Tct lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $50k-75k, with 22 originations.
Applicant Debt to Income Ratio
Tct lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 84 | $6,000,000 | $71,429 | $4,117 | 5.58% |
Approval Rates
Total approvals of all applications75.37%
Tct has a below average approval rate.
Pick Rate
Approvals leading to origination79.76%
Tct has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 81 | $5,435,000 | $67,099 |
| NA | 3 | $565,000 | $188,333 |