T2 Financial Mortgage Rates, Fees & Info
COLUMBUS, OHLEI: 549300GTVXJ2PGXNLM73
Tax ID: 82-3060879
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Mortgage Data
Review & Overview
T2 Financial is a smaller mortgage company specializing in Home Purchase loans. T2 Financial 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: Columbus, Cleveland, Nashville, Cincinnati, and Dayton among others. We have data for 77 markets. (Some data included below & more in-depth data is available with an active subscription.)T2 Financial 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. T2 Financial 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 | 6.90% | 5/5/24 |
| 30 Year Conventional Refi | 6.51% | 5/5/24 |
| 30 Year Cash-out Refi | 6.79% | 5/5/24 |
| 30 Year FHA Purchase | 7.78% | 5/5/24 |
| 30 Year FHA Refi | 7.23% | 5/5/24 |
| 30 Year VA Purchase | 6.52% | 5/5/24 |
| 30 Year VA Refi | 6.07% | 5/5/24 |
| 30 Year USDA Purchase | 7.08% | 5/5/24 |
| 30 Year USDA Refi | 6.27% | 5/5/24 |
| 15 Year Conventional Purchase | 6.35% | 5/5/24 |
| 15 Year Conventional Refi | 5.91% | 5/5/24 |
| 15 Year Cash-out Refi | 5.91% | 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. | ||
T2 Financial Mortgage Calculator
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This is not an official calculator from T2 Financial. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,476Origination Dollar Volume (All Markets)
$303,210,000Awards
T2 FINANCIAL - 2019
T2 FINANCIAL is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 935 | $192,115,000 | $205,471 | $5,041 | 4.37% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 70 | $11,700,000 | $167,143 | $5,684 | 4.27% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 41 | $9,845,000 | $240,122 | $5,817 | 4.19% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 40 | $9,250,000 | $231,250 | $6,159 | 4.12% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 51 | $8,145,000 | $159,706 | $5,373 | 4.18% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 33 | $7,915,000 | $239,848 | $6,687 | 4.66% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 38 | $7,520,000 | $197,895 | $5,025 | 4.01% |
| PITTSBURGH, PA (FHA|USDA|VA) | 36 | $6,810,000 | $189,167 | $5,377 | 4.01% |
| Mount Vernon, OH (FHA|USDA|VA) | 19 | $2,945,000 | $155,000 | $5,409 | 4.34% |
| AKRON, OH (FHA|USDA|VA) | 18 | $2,920,000 | $162,222 | $5,545 | 4.49% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $2,725,000 | $389,286 | $8,395 | 4.98% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 10 | $2,640,000 | $264,000 | $8,662 | 3.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,275,000 | $252,778 | $6,606 | 4.18% |
| MADERA, CA (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $7,656 | 4.29% |
| Outside of Metro Areas | 8 | $1,880,000 | $235,000 | $4,777 | 3.98% |
| Marion, OH (FHA|USDA|VA) | 11 | $1,765,000 | $160,455 | $6,005 | 4.56% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 12 | $1,720,000 | $143,333 | $5,485 | 4.67% |
| Washington Court House, OH (FHA|USDA|VA) | 11 | $1,715,000 | $155,909 | $5,955 | 4.57% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 6 | $1,450,000 | $241,667 | $5,361 | 3.96% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $4,965 | 4.22% |
| Urbana, OH (FHA|USDA|VA) | 8 | $1,380,000 | $172,500 | $6,101 | 4.45% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $5,518 | 4.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,340,000 | $670,000 | $15,136 | 4.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $8,868 | 4.50% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $8,748 | 3.88% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 8 | $980,000 | $122,500 | $5,056 | 4.55% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $6,481 | 4.25% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 6 | $940,000 | $156,667 | $7,498 | 4.31% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $16,160 | 3.75% |
| Shelbyville, TN (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $7,433 | 4.17% |
| Chillicothe, OH (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $5,602 | 4.63% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $4,629 | 4.48% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $4,230 | 4.38% |
| WHEELING, WV-OH (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,509 | 4.17% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $13,978 | 3.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,693 | 5.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,548 | 4.06% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,331 | 4.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,829 | 3.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,457 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $6,093 | 5.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $13,240 | 4.12% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,529 | 4.38% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,675 | 4.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $16,335 | 3.63% |
| Tiffin, OH (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,315 | 3.88% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,144 | 3.88% |
| Ashtabula, OH (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $4,175 | 4.54% |
| Ashland, OH (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,769 | 4.38% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $18,904 | 4.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,745 | 3.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,951 | 3.99% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,051 | 4.13% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,007 | 4.13% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,763 | 4.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,789 | 3.63% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,638 | 3.63% |
| Wooster, OH (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $4,402 | 4.44% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,471 | 3.63% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,225 | 4.99% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,829 | 4.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,626 | 4.75% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,212 | 3.75% |
| MANSFIELD, OH (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $3,950 | 4.06% |
| Wilmington, OH (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,268 | 4.00% |
| Athens, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,237 | 3.99% |
| Cambridge, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,909 | 4.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $9,811 | 3.25% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,762 | 5.13% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,753 | 4.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,632 | 4.13% |
| LIMA, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,625 | 5.38% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,029 | 3.88% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,112 | 4.75% |
| Van Wert, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,143 | 5.25% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,563 | 5.38% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $5,834 | 4.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against T2 FINANCIAL 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
For 2019, T2 Financial's most frequently originated type of loan was Conventional, with 973 originations. Their 2nd most popular type was FHA, with 376 originations.
Loan Reason
For 2019, T2 Financial's most frequently cited loan purpose was Home Purchase, with 1,169 originations. The 2nd most popular reason was Refi, with 192 originations.
Loan Duration/Length
For 2019, T2 Financial's most frequently cited loan duration was 30 Year, with 1,398 originations. The 2nd most popular length was 15 Year, with 51 originations.
Origination Fees/Closing Costs
T2 Financial's average total fees were $5,458, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 828 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 699 | $145,145,000 | $207,647 |
| 3-4% | 575 | $126,865,000 | $220,635 |
| 5-6% | 195 | $29,725,000 | $152,436 |
| 2.5-3% | 7 | $1,475,000 | $210,714 |
During 2019, T2 Financial's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 699 originations.
Loan Sizing
2019 saw T2 Financial place emphasis on $100k-200k loans with 726 originations, totaling $110,570,000 in origination value.
Applicant Income
T2 Financial lent most frequently to those with incomes in the $50k-75k range, with 468 originations. The second most popular income band? $50k or less, with 385 originations.
Applicant Debt to Income Ratio
T2 Financial lent most frequently to those with DTI ratios of 30-36%, with 270 originations. The next most common DTI ratio? 20-30%, with 236 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.09%
T2 Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.72%
T2 Financial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,476 | $303,210,000 | $205,427 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $300,000 | $150,000 |
| Single Family (1-4 Units):Site-Built | 1,474 | $302,910,000 | $205,502 |