Transcend Mortgage Rates, Fees & Info

Louisville, KY

LEI: 549300OCBGBM6IS0J130

Tax ID: 61-0360420

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Transcend is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Transcend has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Lexington, Owensboro, Frankfort, and Bowling Green among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Transcend 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. 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 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.

    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% 11/22/24
    30 Year Conventional Refi 6.61% 11/22/24
    30 Year Cash-out Refi 6.77% 11/22/24
    30 Year FHA Purchase 7.62% 11/22/24
    30 Year VA Purchase 6.78% 11/22/24
    30 Year USDA Purchase 6.71% 11/22/24
    15 Year Conventional Purchase 6.19% 11/22/24
    15 Year Conventional Refi 5.91% 11/22/24
    15 Year Cash-out Refi 5.91% 11/22/24
    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

    322

    Origination Dollar Volume (All Markets)

    $57,590,000

    Awards

    TRANSCEND 30 Year Conventional Loans bronze
    Show all (1) awards

    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) 288 $51,920,000 $180,278 $2,468 3.08%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 14 $2,740,000 $195,714 $2,660 2.97%
    OWENSBORO, KY (FHA|USDA|VA) 8 $940,000 $117,500 $2,306 3.59%
    Frankfort, KY (FHA|USDA|VA) 6 $830,000 $138,333 $1,544 3.25%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $295,000 $295,000 $3,149 2.50%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $285,000 $285,000 $2,533 3.00%
    Bardstown, KY (FHA|USDA|VA) 2 $250,000 $125,000 $2,320 2.88%
    Outside of Metro Areas 1 $175,000 $175,000 $2,778 3.75%
    Richmond-Berea, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.00%
    Transcend's top markets include Louisville, Lexington, Owensboro, Frankfort, and Bowling Green among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Texas (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.

    COMMONWEALTH
    Similarity Rank: 625
    First Harrison Bank
    Similarity Rank: 980
    TRANSCEND
    Similarity Rank: 1395
    Centra Credit Union
    Similarity Rank: 1739
    Independence Bank of Kentucky
    Similarity Rank: 1768
    Abound Federal Credit Union
    Similarity Rank: 1888
    Central Bank
    Similarity Rank: 1932
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1938
    THE MORTGAGE WAREHOUSE,LLC
    Similarity Rank: 2016
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 2057

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 322 $57,590,000 $178,851 $2,448 3.09%

    For 2020, Transcend's most frequently originated type of loan was Conventional, with 322 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 132 $20,930,000 $158,561 $2,242 2.89%
    Cash Out Refi 109 $19,335,000 $177,385 $2,306 3.10%
    Home Purchase 79 $17,155,000 $217,152 $2,832 3.43%
    Home Improvement 2 $170,000 $85,000 $1,834 2.56%

    For 2020, Transcend's most frequently cited loan purpose was Refi, with 132 originations. The 2nd most popular reason was Cash Out Refi, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 118 $24,670,000 $209,068 $2,576 3.54%
    15 Year 108 $17,610,000 $163,056 $2,343 2.86%
    10 Year 52 $7,710,000 $148,269 $2,212 2.69%
    20 Year 40 $7,030,000 $175,750 $2,314 2.96%
    Other 4 $570,000 $142,500 $0 2.50%

    For 2020, Transcend's most frequently cited loan duration was 30 Year, with 118 originations. The 2nd most popular length was 15 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 311 $56,295,000 $181,013
    $1k-2k 6 $680,000 $113,333
    $2k-3k 1 $215,000 $215,000
    $3k-4k 1 $105,000 $105,000
    $4k-5k 1 $125,000 $125,000
    $5k+ 1 $95,000 $95,000

    Transcend's average total fees were $2,576, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 311 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 136 $26,380,000 $193,971
    2.5-3% 118 $20,120,000 $170,508
    <2.5% 52 $7,780,000 $149,615
    4-5% 16 $3,310,000 $206,875

    During 2020, Transcend's average interest rate for loans was 3.54%, while their most frequently originated rate bucket for loans was 3-4%, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 162 $23,190,000 $143,148 $2,364 3.06%
    $200k-400k 90 $24,350,000 $270,556 $2,653 3.16%
    $100,000 or less 60 $4,660,000 $77,667 $2,348 3.01%
    $400k-600k 8 $3,870,000 $483,750 $3,129 3.38%
    $600k-1MM 2 $1,520,000 $760,000 $0 3.56%

    2020 saw Transcend place emphasis on $100k-200k loans with 162 originations, totaling $23,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 86 $10,950,000 $127,326 $2,204 3.11%
    $100k-150k 84 $15,660,000 $186,429 $2,758 3.04%
    $75k-100k 55 $10,145,000 $184,455 $2,464 3.12%
    $150k-250k 49 $11,425,000 $233,163 $2,632 2.96%
    $50k or less 33 $3,525,000 $106,818 $2,302 3.26%
    $250k+ 14 $5,590,000 $399,286 $3,312 3.25%

    Transcend lent most frequently to those with incomes in the $50k-75k range, with 86 originations. The second most popular income band? $100k-150k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $24,990,000 $186,493 $2,267 3.07%
    <20% 67 $10,865,000 $162,164 $2,928 2.95%
    30-36% 60 $9,870,000 $164,500 $2,438 3.09%
    37% 11 $2,195,000 $199,545 $2,482 3.13%
    36% 10 $1,800,000 $180,000 $2,225 3.39%
    43% 10 $2,090,000 $209,000 $2,646 3.23%
    44% 5 $1,015,000 $203,000 $2,659 3.40%
    40% 5 $605,000 $121,000 $2,792 3.25%
    42% 4 $980,000 $245,000 $2,581 3.13%
    38% 4 $1,110,000 $277,500 $2,376 3.31%
    41% 3 $565,000 $188,333 $2,264 3.42%
    39% 3 $485,000 $161,667 $2,617 3.63%
    46% 2 $210,000 $105,000 $2,076 3.38%
    45% 1 $75,000 $75,000 $2,256 3.38%
    47% 1 $235,000 $235,000 $0 3.75%
    48% 1 $205,000 $205,000 $2,339 3.38%

    Transcend lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? <20%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $43,990,000 $177,379 $2,397 3.08%
    Not provided 46 $8,890,000 $193,261 $2,817 2.98%
    Black 23 $3,825,000 $166,304 $2,430 3.48%
    Asian 3 $475,000 $158,333 $1,892 2.83%
    Asian Indian 1 $295,000 $295,000 $2,810 2.13%
    Other Pacific Islander 1 $115,000 $115,000 $0 3.13%

    Approval Rates

    Total approvals of all applications
    90.37%

    Transcend has an average approval rate.

    Pick Rate

    Approvals leading to origination
    16.77%

    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 322 $57,590,000 $178,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 321 $57,545,000 $179,268

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $5,315,000 $118,111 $2,202 2.83%
    40-60% 87 $12,675,000 $145,690 $2,154 2.89%
    60-80% 112 $21,760,000 $194,286 $2,437 3.07%
    80-100% 76 $17,580,000 $231,316 $2,778 3.52%
    Under 20% 2 $260,000 $130,000 $0 2.69%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    TRANSWORLD SYSTEMS INC Other type of mortgage Trouble during payment process 1 100.0%