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 a low ratio of conventional loans. Their top markets by origination volume include: Glens Falls, Albany, Gloversville, Amsterdam, and Bennington among others. We have data for 7 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% | 4/28/24 |
| 30 Year Cash-out Refi | 6.86% | 4/28/24 |
| 15 Year Conventional Purchase | 6.34% | 4/28/24 |
| 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
197Origination Dollar Volume (All Markets)
$24,275,000Top 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) | 109 | $13,555,000 | $124,358 | $3,357 | 5.05% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 78 | $9,780,000 | $125,385 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $460,000 | $115,000 | $0 | 0.00% |
| Gloversville, NY (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 0.00% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Bennington, VT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 192 | $23,240,000 | $121,042 | $0 | 0.00% |
| Conventional | 5 | $1,035,000 | $207,000 | $3,357 | 5.05% |
For 2022, Tct's most frequently originated type of loan was Conventional, with 192 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
For 2022, Tct's most frequently cited loan purpose was Cash Out Refi, with 147 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 192 | $23,240,000 | $121,042 | $0 | 0.00% |
| 30 Year | 4 | $840,000 | $210,000 | $3,292 | 5.03% |
| 15 Year | 1 | $195,000 | $195,000 | $3,615 | 5.13% |
For 2022, Tct's most frequently cited loan duration was Other, with 192 originations. The 2nd most popular length was 30 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $1,035,000 | $207,000 |
Tct's average total fees were $3,292, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 2 | $380,000 | $190,000 |
| 3-4% | 1 | $115,000 | $115,000 |
| 4-5% | 1 | $235,000 | $235,000 |
| 6-7% | 1 | $305,000 | $305,000 |
During 2022, Tct's average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 5-6%, with 2 originations.
Loan Sizing
2022 saw Tct place emphasis on $100,000 or less loans with 83 originations, totaling $3,875,000 in origination value.
Applicant Income
Tct lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $75k-100k, with 42 originations.
Applicant Debt to Income Ratio
Tct lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.58%
Tct has a below average approval rate.
Pick Rate
Approvals leading to origination89.34%
Tct has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 192 | $23,240,000 | $121,042 |
| NA | 5 | $1,035,000 | $207,000 |