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 Refi, Cash Out Refi, and Home Purchase loans. Tennessee Trust Mortgage Inc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Clarksville, and Memphis 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 above 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 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 | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 5.92% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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
175Origination Dollar Volume (All Markets)
$40,625,000Awards
TENNESSEE TRUST MORTGAGE INC - 2020
TENNESSEE TRUST MORTGAGE INC 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 156 | $36,910,000 | $236,603 | $3,485 | 3.08% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 15 | $3,075,000 | $205,000 | $4,067 | 3.25% |
| Outside of Metro Areas | 3 | $395,000 | $131,667 | $2,935 | 3.08% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,241 | 2.75% |
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 | 140 | $32,180,000 | $229,857 | $2,828 | 3.13% |
| FHA | 31 | $7,555,000 | $243,710 | $6,717 | 2.91% |
| USDA | 4 | $890,000 | $222,500 | $5,040 | 3.13% |
For 2020, Tennessee Trust Mortgage Inc's most frequently originated type of loan was Conventional, with 140 originations. Their 2nd most popular type was FHA, with 31 originations.
Loan Reason
For 2020, Tennessee Trust Mortgage Inc's most frequently cited loan purpose was Refi, with 68 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.
Loan Duration/Length
For 2020, Tennessee Trust Mortgage Inc's most frequently cited loan duration was 30 Year, with 136 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Tennessee Trust Mortgage Inc's average total fees were $3,826, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 44 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 75 | $17,205,000 | $229,400 |
| 2.5-3% | 62 | $14,790,000 | $238,548 |
| <2.5% | 31 | $7,725,000 | $249,194 |
| 4-5% | 7 | $905,000 | $129,286 |
During 2020, Tennessee Trust Mortgage Inc's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 3-4%, with 75 originations.
Loan Sizing
2020 saw Tennessee Trust Mortgage Inc place emphasis on $200k-400k loans with 93 originations, totaling $24,525,000 in origination value.
Applicant Income
Tennessee Trust Mortgage Inc lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $75k-100k, with 43 originations.
Applicant Debt to Income Ratio
Tennessee Trust Mortgage Inc lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 173 | $40,095,000 | $231,763 | $3,559 | 3.09% |
| Black | 2 | $530,000 | $265,000 | $2,221 | 2.81% |
Approval Rates
Total approvals of all applications90.09%
Tennessee Trust Mortgage Inc has an average approval rate.
Pick Rate
Approvals leading to origination88.00%
Tennessee Trust Mortgage Inc has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2115.0 | 1 | $215,000 | $215,000 |
| 300.0 | 1 | $155,000 | $155,000 |
| 800.0 | 1 | $455,000 | $455,000 |
| NA | 172 | $39,800,000 | $231,395 |