Transcend Mortgage Rates, Fees & Info

Louisville, KY

LEI: 549300OCBGBM6IS0J130

Tax ID: 61-0360420

5 stars - Updated: 3/27/24 - out of 5 stars, based on 6 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Transcend is a smaller mortgage company specializing in Home Purchase loans. Transcend has a high proportion of conventional loans. Their top two markets are Louisville and Owensboro .

Transcend 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. Transcend 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.41% 3/27/24
30 Year Conventional Refi 6.61% 3/27/24
30 Year Cash-out Refi 6.77% 3/27/24
30 Year FHA Purchase 7.62% 3/27/24
30 Year VA Purchase 6.78% 3/27/24
30 Year USDA Purchase 6.71% 3/27/24
15 Year Conventional Purchase 6.19% 3/27/24
15 Year Conventional Refi 5.91% 3/27/24
15 Year Cash-out Refi 5.91% 3/27/24
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.

Transcend Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Transcend. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

37

Origination Dollar Volume (All Markets)

$9,235,000

Relative Rate

Transcend's average 30 year fixed mortgage rate was 5.92%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.56%.

Relative Fees (Closing Costs)

Transcend's average total fees/closing costs for a 30 year fixed rate mortgage were $386.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
LOUISVILLE, KY (FHA|USDA|VA) 34 $8,510,000 $250,294 $489 5.91%
OWENSBORO, KY (FHA|USDA|VA) 3 $725,000 $241,667 $0 6.17%
Transcend's top markets include Louisville and Owensboro among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against TRANSCEND based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Peoples Bank
    Similarity Rank: 270
    Peoples Bank
    Similarity Rank: 325
    Abound Federal Credit Union
    Similarity Rank: 420
    Forcht Bank
    Similarity Rank: 494
    Wilson & Muir Bank & Trust Company
    Similarity Rank: 532
    COMMONWEALTH
    Similarity Rank: 621
    Traditional Bank, Inc.
    Similarity Rank: 644
    PARK COMMUNITY CREDIT UNION, INC.
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    Central Bank
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $9,235,000 $249,595 $450 5.93%

    For 2023, Transcend's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $8,220,000 $274,000 $376 5.96%
    Cash Out Refi 5 $805,000 $161,000 $527 5.75%
    Refi 2 $210,000 $105,000 $1,366 5.94%

    For 2023, Transcend's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 36 $9,130,000 $253,611 $386 5.92%
    15 Year 1 $105,000 $105,000 $2,732 6.25%

    For 2023, Transcend's most frequently cited loan duration was 30 Year, with 36 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $9,235,000 $249,595

    Transcend's average total fees were $386, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 20 $5,540,000 $277,000
    6-7% 14 $3,260,000 $232,857
    7-8% 2 $250,000 $125,000
    4-5% 1 $185,000 $185,000

    During 2023, Transcend's average interest rate for loans was 5.92%, while their most frequently originated rate bucket for loans was 5-6%, with 20 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 17 $4,685,000 $275,588 $4 5.96%
    $100k-200k 13 $2,035,000 $156,538 $854 5.84%
    $400k-600k 5 $2,355,000 $471,000 $0 5.60%
    $100,000 or less 2 $160,000 $80,000 $2,737 7.06%

    2023 saw Transcend place emphasis on $200k-400k loans with 17 originations, totaling $4,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 11 $3,405,000 $309,545 $276 5.85%
    $75k-100k 11 $1,785,000 $162,273 $238 5.82%
    $150k-250k 6 $2,260,000 $376,667 $456 5.63%
    $50k-75k 4 $850,000 $212,500 $665 6.41%
    $50k or less 3 $305,000 $101,667 $1,864 6.42%
    $250k+ 2 $630,000 $315,000 $0 6.19%

    Transcend lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $75k-100k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,730,000 $227,500 $221 5.96%
    30-36% 10 $3,220,000 $322,000 $304 5.83%
    <20% 6 $1,350,000 $225,000 $0 5.50%
    42% 2 $260,000 $130,000 $2,684 6.81%
    36% 2 $530,000 $265,000 $12 5.63%
    41% 2 $570,000 $285,000 $1,430 6.94%
    45% 1 $195,000 $195,000 $2,691 6.38%
    38% 1 $275,000 $275,000 $0 5.88%
    43% 1 $105,000 $105,000 $0 5.63%

    Transcend lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $5,650,000 $256,818 $384 5.89%
    Not provided 14 $3,440,000 $245,714 $585 6.04%
    Black 1 $145,000 $145,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    82.67%

    Transcend has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    32.43%

    Transcend has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 37 $9,235,000 $249,595

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    37 $9,235,000 $249,595

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $315,000 $105,000 $911 5.67%
    40-60% 4 $620,000 $155,000 $659 5.91%
    60-80% 10 $2,890,000 $289,000 $4 5.68%
    80-100% 20 $5,410,000 $270,500 $561 6.10%