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 and 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, Gloversville, and Bennington among others. We have data for 5 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 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 | 6.95% | 12/4/24 |
| 30 Year Cash-out Refi | 6.86% | 12/4/24 |
| 15 Year Conventional Purchase | 6.34% | 12/4/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
245Origination Dollar Volume (All Markets)
$31,895,000Top 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 |
|---|---|---|---|---|---|
| GLENS FALLS, NY (FHA|USDA|VA) | 131 | $16,555,000 | $126,374 | $3,726 | 3.13% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 106 | $14,290,000 | $134,811 | $3,794 | 2.88% |
| Gloversville, NY (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $470,000 | $117,500 | $0 | 0.00% |
| Bennington, VT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 234 | $29,980,000 | $128,120 | $0 | 0.00% |
| Conventional | 11 | $1,915,000 | $174,091 | $3,757 | 3.01% |
For 2021, Tct's most frequently originated type of loan was Conventional, with 234 originations. Their 2nd most popular type was Conventional, with 11 originations.
Loan Reason
For 2021, Tct's most frequently cited loan purpose was Cash Out Refi, with 172 originations. The 2nd most popular reason was Refi, with 64 originations.
Loan Duration/Length
For 2021, Tct's most frequently cited loan duration was Other, with 234 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 10 | $1,760,000 | $176,000 |
| $1k-2k | 1 | $155,000 | $155,000 |
Tct's average total fees were $3,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 5 | $725,000 | $145,000 |
| 3-4% | 5 | $1,025,000 | $205,000 |
| <2.5% | 1 | $165,000 | $165,000 |
During 2021, Tct's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 5 originations.
Loan Sizing
2021 saw Tct place emphasis on $100k-200k loans with 119 originations, totaling $16,775,000 in origination value.
Applicant Income
Tct lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $50k-75k, with 60 originations.
Applicant Debt to Income Ratio
Tct lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.98%
Tct has an average approval rate.
Pick Rate
Approvals leading to origination78.78%
Tct has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 234 | $29,980,000 | $128,120 |
| NA | 11 | $1,915,000 | $174,091 |