Tennessee Trust Mortgage Inc Rates, Fees & Info
PLEASANT VIEW, TNLEI: 549300BIIOTBIZJPS834
Tax ID: 62-1627636
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Mortgage Data
Review & Overview
Tennessee Trust Mortgage Inc is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Tennessee Trust Mortgage Inc has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Nashville, Clarksville, and Lewisburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Tennessee Trust Mortgage Inc 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. Tennessee Trust Mortgage Inc is typically an average 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 | 6.27% | 5/5/24 |
| 30 Year Conventional Refi | 6.27% | 5/5/24 |
| 30 Year Cash-out Refi | 5.92% | 5/5/24 |
| 30 Year FHA Purchase | 6.27% | 5/5/24 |
| 30 Year VA Purchase | 6.27% | 5/5/24 |
| 30 Year USDA Purchase | 6.27% | 5/5/24 |
| 15 Year Conventional Refi | 5.68% | 5/5/24 |
| 15 Year Cash-out Refi | 5.68% | 5/5/24 |
| 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. | ||
Tennessee Trust Mortgage Inc Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
106Origination Dollar Volume (All Markets)
$18,710,000Top 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 85 | $15,835,000 | $186,294 | $7,146 | 4.81% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 15 | $2,015,000 | $134,333 | $0 | 4.58% |
| Outside of Metro Areas | 5 | $695,000 | $139,000 | $3,605 | 4.73% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against TENNESSEE TRUST MORTGAGE INC 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 | 53 | $9,075,000 | $171,226 | $0 | 5.01% |
| FHA | 44 | $8,360,000 | $190,000 | $7,146 | 4.50% |
| USDA | 9 | $1,275,000 | $141,667 | $3,605 | 4.64% |
For 2018, Tennessee Trust Mortgage Inc's most frequently originated type of loan was Conventional, with 53 originations. Their 2nd most popular type was FHA, with 44 originations.
Loan Reason
For 2018, Tennessee Trust Mortgage Inc's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 100 | $17,750,000 | $177,500 | $6,261 | 4.78% |
| 15 Year | 5 | $805,000 | $161,000 | $0 | 4.48% |
| 20 Year | 1 | $155,000 | $155,000 | $0 | 5.25% |
For 2018, Tennessee Trust Mortgage Inc's most frequently cited loan duration was 30 Year, with 100 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $330,000 | $165,000 |
| $1k-2k | 2 | $320,000 | $160,000 |
| $2k-3k | 1 | $75,000 | $75,000 |
Tennessee Trust Mortgage Inc's average total fees were $6,261, 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 |
|---|---|---|---|
| 4-5% | 67 | $12,985,000 | $193,806 |
| 5-6% | 31 | $4,055,000 | $130,806 |
| 3-4% | 8 | $1,670,000 | $208,750 |
During 2018, Tennessee Trust Mortgage Inc's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 67 originations.
Loan Sizing
2018 saw Tennessee Trust Mortgage Inc place emphasis on $100k-200k loans with 62 originations, totaling $9,200,000 in origination value.
Applicant Income
Tennessee Trust Mortgage Inc lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 30 originations.
Applicant Debt to Income Ratio
Tennessee Trust Mortgage Inc lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 102 | $18,100,000 | $177,451 | $6,261 | 4.76% |
| Black | 3 | $405,000 | $135,000 | $0 | 5.17% |
| Asian | 1 | $205,000 | $205,000 | $0 | 4.75% |
Approval Rates
Total approvals of all applications88.31%
Tennessee Trust Mortgage Inc has an average approval rate.
Pick Rate
Approvals leading to origination87.74%
Tennessee Trust Mortgage Inc has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1000.0 | 3 | $565,000 | $188,333 |
| 1070.0 | 1 | $105,000 | $105,000 |
| 1100.0 | 2 | $280,000 | $140,000 |
| 1131.0 | 1 | $115,000 | $115,000 |
| 1156.0 | 1 | $125,000 | $125,000 |
| 1182.0 | 1 | $125,000 | $125,000 |
| 1200.0 | 3 | $665,000 | $221,667 |
| 1201.0 | 1 | $125,000 | $125,000 |
| 1211.0 | 1 | $125,000 | $125,000 |
| 1300.0 | 1 | $165,000 | $165,000 |
| 1375.0 | 1 | $135,000 | $135,000 |
| 1400.0 | 3 | $515,000 | $171,667 |
| 1450.0 | 1 | $145,000 | $145,000 |
| 1466.8 | 1 | $145,000 | $145,000 |
| 1500.0 | 2 | $250,000 | $125,000 |
| 1515.0 | 1 | $105,000 | $105,000 |
| 1540.0 | 1 | $305,000 | $305,000 |
| 1563.0 | 1 | $155,000 | $155,000 |
| 1564.64 | 1 | $155,000 | $155,000 |
| 1600.0 | 1 | $85,000 | $85,000 |
| 1606.0 | 1 | $165,000 | $165,000 |
| 1693.57 | 1 | $175,000 | $175,000 |
| 1700.0 | 1 | $225,000 | $225,000 |
| 1785.0 | 1 | $185,000 | $185,000 |
| 1797.0 | 1 | $175,000 | $175,000 |
| 1800.0 | 1 | $95,000 | $95,000 |
| 1810.0 | 1 | $185,000 | $185,000 |
| 1833.0 | 1 | $145,000 | $145,000 |
| 1870.0 | 1 | $195,000 | $195,000 |
| 1892.0 | 1 | $95,000 | $95,000 |
| 1925.0 | 1 | $155,000 | $155,000 |
| 1975.0 | 1 | $205,000 | $205,000 |
| 1980.0 | 1 | $165,000 | $165,000 |
| 2000.0 | 3 | $685,000 | $228,333 |
| 2060.0 | 2 | $200,000 | $100,000 |
| 2077.0 | 1 | $205,000 | $205,000 |
| 2165.0 | 1 | $395,000 | $395,000 |
| 2167.5 | 1 | $145,000 | $145,000 |
| 2187.0 | 1 | $225,000 | $225,000 |
| 2200.0 | 1 | $115,000 | $115,000 |
| 2324.0 | 1 | $115,000 | $115,000 |
| 2325.0 | 1 | $95,000 | $95,000 |
| 2380.0 | 1 | $115,000 | $115,000 |
| 2480.0 | 1 | $255,000 | $255,000 |
| 2500.0 | 3 | $385,000 | $128,333 |
| 2646.0 | 1 | $155,000 | $155,000 |
| 268.0 | 1 | $215,000 | $215,000 |
| 2828.0 | 1 | $105,000 | $105,000 |
| 2900.0 | 1 | $115,000 | $115,000 |
| 300.0 | 1 | $185,000 | $185,000 |
| 3000.0 | 4 | $330,000 | $82,500 |
| 3150.0 | 1 | $95,000 | $95,000 |
| 3360.0 | 1 | $165,000 | $165,000 |
| 495.0 | 1 | $185,000 | $185,000 |
| 500.0 | 5 | $955,000 | $191,000 |
| 600.0 | 1 | $235,000 | $235,000 |
| 675.0 | 1 | $165,000 | $165,000 |
| 700.0 | 2 | $290,000 | $145,000 |
| 800.0 | 2 | $350,000 | $175,000 |
| 946.0 | 1 | $165,000 | $165,000 |
| 990.0 | 1 | $195,000 | $195,000 |
| NA | 23 | $5,315,000 | $231,087 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 14 | $1,620,000 | $115,714 |
| Single Family (1-4 Units):Site-Built | 92 | $17,090,000 | $185,761 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Townstone Financial Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |