Towne Mortgage Company Rates, Fees & Info

PLYMOUTH, MI

LEI: 549300R7HGHP2I754087

Tax ID: 38-2434249

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

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    • Review & Overview

    Towne Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Towne Mortgage Company has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Grand Rapids, Atlanta, Lansing, and New York among others. We have data for 241 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Towne Mortgage Company 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. Towne Mortgage Company 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 6.89% 4/22/24
    30 Year Conventional Refi 6.74% 4/22/24
    30 Year Cash-out Refi 6.83% 4/22/24
    30 Year FHA Purchase 7.31% 4/22/24
    30 Year FHA Refi 7.46% 4/22/24
    30 Year VA Purchase 6.20% 4/22/24
    30 Year VA Refi 6.10% 4/22/24
    30 Year USDA Purchase 6.93% 4/22/24
    30 Year USDA Refi 6.27% 4/22/24
    15 Year Conventional Purchase 6.31% 4/22/24
    15 Year Conventional Refi 6.45% 4/22/24
    15 Year Cash-out Refi 6.45% 4/22/24
    15 Year FHA Purchase 5.68% 4/22/24
    15 Year FHA Refi 8.24% 4/22/24
    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.

    Towne Mortgage Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Towne Mortgage Company. 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

    3,930

    Origination Dollar Volume (All Markets)

    $635,230,000
    Show all (20) 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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 743 $123,205,000 $165,821 $4,199 4.82%
    Outside of Metro Areas 310 $39,310,000 $126,806 $3,901 4.82%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 189 $29,445,000 $155,794 $3,737 4.91%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 123 $22,315,000 $181,423 $4,759 4.79%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 139 $20,895,000 $150,324 $4,996 4.95%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 83 $20,215,000 $243,554 $7,345 4.94%
    MUSKEGON, MI (FHA|USDA|VA) 168 $18,090,000 $107,679 $2,774 4.67%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 77 $17,965,000 $233,312 $4,425 4.65%
    MONROE, MI (FHA|USDA|VA) 101 $15,365,000 $152,129 $3,445 4.74%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 86 $15,120,000 $175,814 $4,456 4.60%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 72 $14,970,000 $207,917 $4,936 4.75%
    COLUMBIA, SC (FHA|USDA|VA) 93 $14,915,000 $160,376 $4,509 4.84%
    FLINT, MI (FHA|USDA|VA) 106 $14,540,000 $137,170 $3,741 4.78%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 71 $13,185,000 $185,704 $5,847 4.95%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 60 $12,880,000 $214,667 $5,574 4.60%
    GREEN BAY, WI (FHA|USDA|VA) 66 $9,440,000 $143,030 $3,612 4.88%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 45 $9,435,000 $209,667 $4,208 4.76%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 44 $8,620,000 $195,909 $4,304 4.87%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 50 $7,490,000 $149,800 $4,004 4.89%
    APPLETON, WI (FHA|USDA|VA) 50 $7,010,000 $140,200 $3,411 4.73%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 28 $5,030,000 $179,643 $4,447 4.62%
    TALLAHASSEE, FL (FHA|USDA|VA) 29 $4,765,000 $164,310 $4,212 4.67%
    ALBANY, GA (FHA|USDA|VA) 35 $4,635,000 $132,429 $4,220 4.48%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 23 $4,635,000 $201,522 $4,468 4.81%
    SHEBOYGAN, WI (FHA|USDA|VA) 38 $4,620,000 $121,579 $3,231 4.81%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 25 $4,535,000 $181,400 $4,248 4.61%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 20 $4,190,000 $209,500 $5,528 4.86%
    JACKSONVILLE, FL (FHA|USDA|VA) 21 $4,125,000 $196,429 $4,987 4.96%
    ROCHESTER, MN (FHA|USDA|VA) 18 $4,120,000 $228,889 $4,108 4.49%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 22 $3,960,000 $180,000 $4,724 4.63%
    DULUTH, MN-WI (FHA|USDA|VA) 22 $3,710,000 $168,636 $5,202 4.40%
    SAGINAW, MI (FHA|USDA|VA) 27 $3,175,000 $117,593 $4,824 5.20%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 13 $3,045,000 $234,231 $7,302 4.67%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 19 $3,035,000 $159,737 $5,367 4.79%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 25 $2,905,000 $116,200 $2,908 4.78%
    Owatonna, MN (FHA|USDA|VA) 19 $2,745,000 $144,474 $3,155 4.80%
    ROANOKE, VA (FHA|USDA|VA) 14 $2,630,000 $187,857 $3,201 4.69%
    Statesboro, GA (FHA|USDA|VA) 15 $2,535,000 $169,000 $5,334 4.60%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $2,510,000 $251,000 $8,027 4.75%
    Manitowoc, WI (FHA|USDA|VA) 19 $2,385,000 $125,526 $3,468 4.84%
    ANN ARBOR, MI (FHA|USDA|VA) 15 $2,345,000 $156,333 $3,269 4.99%
    VALDOSTA, GA (FHA|USDA|VA) 17 $2,245,000 $132,059 $4,334 4.53%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 13 $2,175,000 $167,308 $4,683 4.90%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 12 $2,110,000 $175,833 $5,977 4.80%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 9 $2,105,000 $233,889 $4,602 4.50%
    Traverse City, MI (FHA|USDA|VA) 13 $2,105,000 $161,923 $3,871 4.81%
    Mount Airy, NC (FHA|USDA|VA) 15 $2,055,000 $137,000 $4,040 4.91%
    TUSCALOOSA, AL (FHA|USDA|VA) 10 $2,030,000 $203,000 $4,973 4.51%
    Faribault-Northfield, MN (FHA|USDA|VA) 8 $2,020,000 $252,500 $4,656 5.00%
    SPARTANBURG, SC (FHA|USDA|VA) 15 $1,995,000 $133,000 $4,512 4.76%
    Lumberton, NC (FHA|USDA|VA) 10 $1,750,000 $175,000 $5,485 4.20%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 16 $1,750,000 $109,375 $4,264 4.81%
    SAVANNAH, GA (FHA|USDA|VA) 11 $1,745,000 $158,636 $4,185 4.82%
    Vidalia, GA (FHA|USDA|VA) 11 $1,705,000 $155,000 $4,313 4.66%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 10 $1,630,000 $163,000 $7,854 4.69%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $1,605,000 $229,286 $6,072 4.80%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 11 $1,595,000 $145,000 $4,202 5.00%
    RACINE, WI (FHA|USDA|VA) 10 $1,550,000 $155,000 $4,345 4.94%
    Holland, MI (FHA|USDA|VA) 8 $1,520,000 $190,000 $6,352 4.91%
    FOND DU LAC, WI (FHA|USDA|VA) 12 $1,480,000 $123,333 $4,174 4.91%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $1,475,000 $295,000 $5,020 4.70%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,450,000 $362,500 $5,526 4.66%
    COLUMBUS, OH (FHA|USDA|VA) 9 $1,415,000 $157,222 $3,739 4.83%
    FAYETTEVILLE, NC (FHA|USDA|VA) 7 $1,335,000 $190,714 $5,101 4.64%
    WILMINGTON, NC (FHA|USDA|VA) 9 $1,325,000 $147,222 $5,252 4.81%
    Bainbridge, GA (FHA|USDA|VA) 11 $1,315,000 $119,545 $4,395 4.34%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 9 $1,305,000 $145,000 $5,774 4.90%
    Big Rapids, MI (FHA|USDA|VA) 10 $1,300,000 $130,000 $4,006 4.66%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 7 $1,295,000 $185,000 $5,660 5.45%
    JACKSON, MI (FHA|USDA|VA) 8 $1,290,000 $161,250 $4,465 5.25%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,275,000 $425,000 $10,282 4.91%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $1,270,000 $211,667 $3,884 5.00%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 9 $1,265,000 $140,556 $4,798 4.71%
    Douglas, GA (FHA|USDA|VA) 10 $1,260,000 $126,000 $4,598 4.73%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 9 $1,245,000 $138,333 $5,390 4.47%
    Marinette, WI-MI (FHA|USDA|VA) 13 $1,205,000 $92,692 $2,721 4.83%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,185,000 $237,000 $5,058 4.75%
    KNOXVILLE, TN (FHA|USDA|VA) 8 $1,180,000 $147,500 $4,051 5.03%
    WINSTON-SALEM, NC (FHA|USDA|VA) 10 $1,170,000 $117,000 $4,516 4.95%
    Tifton, GA (FHA|USDA|VA) 8 $1,170,000 $146,250 $3,896 4.58%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 4 $1,170,000 $292,500 $7,724 4.16%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $1,165,000 $166,429 $4,957 4.54%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 4 $1,130,000 $282,500 $8,020 4.62%
    RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,095,000 $219,000 $3,199 4.98%
    Adrian, MI (FHA|USDA|VA) 7 $1,065,000 $152,143 $5,773 4.57%
    WARNER ROBINS, GA (FHA|USDA|VA) 7 $1,045,000 $149,286 $4,093 4.80%
    Newberry, SC (FHA|USDA|VA) 9 $1,045,000 $116,111 $3,628 4.85%
    Shawano, WI (FHA|USDA|VA) 10 $1,020,000 $102,000 $2,585 5.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 6 $980,000 $163,333 $3,683 4.73%
    Brainerd, MN (FHA|USDA|VA) 5 $955,000 $191,000 $5,773 4.30%
    Waycross, GA (FHA|USDA|VA) 8 $930,000 $116,250 $3,778 4.64%
    Seneca, SC (FHA|USDA|VA) 4 $930,000 $232,500 $4,427 4.53%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 6 $890,000 $148,333 $3,883 4.90%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 6 $880,000 $146,667 $4,733 4.75%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $870,000 $435,000 $2,381 4.13%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $860,000 $430,000 $12,225 4.94%
    Stevens Point, WI (FHA|USDA|VA) 5 $845,000 $169,000 $6,477 4.95%
    TOLEDO, OH (FHA|USDA|VA) 9 $835,000 $92,778 $3,467 4.76%
    FLORENCE, SC (FHA|USDA|VA) 7 $815,000 $116,429 $3,899 5.00%
    Bluefield, WV-VA (FHA|USDA|VA) 5 $795,000 $159,000 $5,249 4.50%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 8 $790,000 $98,750 $3,242 4.80%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 4 $780,000 $195,000 $3,396 4.66%
    NILES, MI (FHA|USDA|VA) 5 $775,000 $155,000 $3,392 5.38%
    BURLINGTON, NC (FHA|USDA|VA) 3 $765,000 $255,000 $5,075 4.42%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $735,000 $245,000 $3,193 5.25%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 5 $685,000 $137,000 $5,989 4.83%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $670,000 $167,500 $3,786 4.81%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $670,000 $167,500 $3,297 4.38%
    Whitewater, WI (FHA|USDA|VA) 3 $665,000 $221,667 $3,693 4.50%
    Thomaston, GA (FHA|USDA|VA) 5 $655,000 $131,000 $4,070 4.35%
    Mount Pleasant, MI (FHA|USDA|VA) 6 $650,000 $108,333 $4,449 4.94%
    Laurinburg, NC (FHA|USDA|VA) 6 $650,000 $108,333 $3,794 4.69%
    COLUMBUS, GA-AL (FHA|USDA|VA) 4 $640,000 $160,000 $3,794 5.03%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $630,000 $157,500 $6,784 4.78%
    Mayfield, KY (FHA|USDA|VA) 6 $590,000 $98,333 $3,053 4.63%
    STOCKTON, CA (FHA|USDA|VA) 2 $590,000 $295,000 $1,977 4.81%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $580,000 $145,000 $5,443 4.84%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 5 $565,000 $113,000 $3,559 4.73%
    Beaver Dam, WI (FHA|USDA|VA) 3 $565,000 $188,333 $6,995 4.63%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $565,000 $188,333 $6,291 4.63%
    Sturgis, MI (FHA|USDA|VA) 3 $545,000 $181,667 $3,708 5.17%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 3 $545,000 $181,667 $2,944 4.63%
    Jefferson, GA (FHA|USDA|VA) 3 $545,000 $181,667 $4,807 4.96%
    BATTLE CREEK, MI (FHA|USDA|VA) 5 $545,000 $109,000 $3,995 5.13%
    Coldwater, MI (FHA|USDA|VA) 3 $525,000 $175,000 $7,070 5.08%
    SUMTER, SC (FHA|USDA|VA) 4 $520,000 $130,000 $4,978 4.59%
    BRUNSWICK, GA (FHA|USDA|VA) 5 $515,000 $103,000 $4,802 4.73%
    BAY CITY, MI (FHA|USDA|VA) 5 $515,000 $103,000 $3,082 5.10%
    Georgetown, SC (FHA|USDA|VA) 2 $510,000 $255,000 $4,029 4.50%
    Alma, MI (FHA|USDA|VA) 5 $505,000 $101,000 $4,119 5.05%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $500,000 $250,000 $8,495 4.88%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $500,000 $250,000 $6,186 4.81%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $495,000 $165,000 $4,976 4.38%
    Gaffney, SC (FHA|USDA|VA) 3 $475,000 $158,333 $5,189 4.33%
    Orangeburg, SC (FHA|USDA|VA) 4 $470,000 $117,500 $5,204 4.59%
    MODESTO, CA (FHA|USDA|VA) 2 $460,000 $230,000 $5,043 4.81%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 4 $440,000 $110,000 $4,048 4.72%
    MOBILE, AL (FHA|USDA|VA) 3 $425,000 $141,667 $4,293 5.25%
    Montrose, CO (FHA|USDA|VA) 2 $420,000 $210,000 $4,667 4.13%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $415,000 $415,000 $12,459 4.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $415,000 $138,333 $3,238 4.92%
    MADISON, WI (FHA|USDA|VA) 3 $405,000 $135,000 $2,041 4.92%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $405,000 $135,000 $4,843 4.75%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $395,000 $79,000 $2,273 4.78%
    Lawrenceburg, TN (FHA|USDA|VA) 5 $395,000 $79,000 $3,497 4.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $385,000 $385,000 $6,165 3.88%
    CLEVELAND, TN (FHA|USDA|VA) 3 $375,000 $125,000 $5,365 4.42%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $9,045 4.88%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $370,000 $185,000 $5,677 4.38%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $370,000 $185,000 $8,329 5.31%
    Key West, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,097 5.00%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $365,000 $365,000 $6,772 4.75%
    MIDLAND, MI (FHA|USDA|VA) 4 $350,000 $87,500 $3,799 5.19%
    St. Marys, GA (FHA|USDA|VA) 2 $350,000 $175,000 $4,839 4.81%
    Enterprise, AL (FHA|USDA|VA) 2 $340,000 $170,000 $4,469 4.75%
    Thomasville, GA (FHA|USDA|VA) 2 $340,000 $170,000 $5,817 4.63%
    OCALA, FL (FHA|USDA|VA) 2 $340,000 $170,000 $2,963 5.44%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $3,247 4.50%
    Albert Lea, MN (FHA|USDA|VA) 2 $330,000 $165,000 $2,438 5.38%
    Forest City, NC (FHA|USDA|VA) 3 $325,000 $108,333 $2,796 4.54%
    EAU CLAIRE, WI (FHA|USDA|VA) 2 $320,000 $160,000 $7,929 4.56%
    Shelby, NC (FHA|USDA|VA) 1 $315,000 $315,000 $6,261 4.50%
    MADERA, CA (FHA|USDA|VA) 2 $310,000 $155,000 $6,963 4.69%
    MORRISTOWN, TN (FHA|USDA|VA) 3 $305,000 $101,667 $3,890 5.29%
    Zanesville, OH (FHA|USDA|VA) 3 $305,000 $101,667 $4,150 5.21%
    Dublin, GA (FHA|USDA|VA) 1 $295,000 $295,000 $7,712 4.88%
    Jesup, GA (FHA|USDA|VA) 3 $295,000 $98,333 $6,394 4.96%
    Fitzgerald, GA (FHA|USDA|VA) 3 $285,000 $95,000 $4,049 4.33%
    FORT WAYNE, IN (FHA|USDA|VA) 2 $280,000 $140,000 $3,569 4.06%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $275,000 $275,000 $3,870 4.75%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $275,000 $275,000 $8,783 4.88%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $275,000 $275,000 $4,401 5.38%
    Paducah, KY-IL (FHA|USDA|VA) 2 $270,000 $135,000 $3,424 4.94%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $2,461 4.50%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $265,000 $265,000 $6,889 4.38%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $265,000 $265,000 $12,163 4.75%
    Glenwood Springs, CO (FHA|USDA|VA) 1 $265,000 $265,000 $2,527 4.25%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $255,000 $255,000 $14,235 3.75%
    VALLEJO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $2,637 5.13%
    YUMA, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $14,025 4.75%
    Cullowhee, NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,046 5.00%
    Ozark, AL (FHA|USDA|VA) 1 $235,000 $235,000 $6,007 5.63%
    Menomonie, WI (FHA|USDA|VA) 2 $230,000 $115,000 $2,936 4.56%
    Big Stone Gap, VA (FHA|USDA|VA) 2 $230,000 $115,000 $5,383 4.56%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $225,000 $225,000 $8,388 4.25%
    Willmar, MN (FHA|USDA|VA) 1 $215,000 $215,000 $4,003 3.88%
    Escanaba, MI (FHA|USDA|VA) 3 $215,000 $71,667 $2,918 4.67%
    Troy, AL (FHA|USDA|VA) 1 $215,000 $215,000 $6,436 5.63%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $205,000 $205,000 $2,797 4.75%
    Galesburg, IL (FHA|USDA|VA) 1 $195,000 $195,000 $2,834 4.75%
    GAINESVILLE, FL (FHA|USDA|VA) 3 $195,000 $65,000 $2,788 4.63%
    Payson, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $6,662 4.38%
    Greenwood, SC (FHA|USDA|VA) 1 $185,000 $185,000 $7,058 5.00%
    DECATUR, AL (FHA|USDA|VA) 1 $185,000 $185,000 $5,337 4.63%
    Washington, NC (FHA|USDA|VA) 1 $185,000 $185,000 $5,234 4.25%
    Baraboo, WI (FHA|USDA|VA) 1 $185,000 $185,000 $8,314 5.75%
    Cadillac, MI (FHA|USDA|VA) 1 $175,000 $175,000 $4,580 5.25%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $175,000 $175,000 $4,160 4.50%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $175,000 $175,000 $5,950 4.75%
    MUNCIE, IN (FHA|USDA|VA) 3 $175,000 $58,333 $3,200 5.25%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,738 3.38%
    Tiffin, OH (FHA|USDA|VA) 2 $170,000 $85,000 $3,199 5.00%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $165,000 $165,000 $2,590 4.25%
    Marquette, MI (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.63%
    Americus, GA (FHA|USDA|VA) 1 $155,000 $155,000 $3,068 4.25%
    ROCKFORD, IL (FHA|USDA|VA) 1 $155,000 $155,000 $5,522 4.63%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $155,000 $155,000 $3,578 4.13%
    Sevierville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $4,407 4.88%
    Murray, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,853 4.38%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,773 5.00%
    Athens, TN (FHA|USDA|VA) 1 $145,000 $145,000 $2,243 4.25%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $135,000 $135,000 $4,733 4.75%
    READING, PA (FHA|USDA|VA) 1 $135,000 $135,000 $7,698 3.50%
    Shelbyville, TN (FHA|USDA|VA) 1 $135,000 $135,000 $5,148 4.25%
    Hillsdale, MI (FHA|USDA|VA) 1 $135,000 $135,000 $6,304 4.25%
    DOTHAN, AL (FHA|USDA|VA) 1 $135,000 $135,000 $4,915 4.38%
    Sidney, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,952 4.99%
    YAKIMA, WA (FHA|USDA|VA) 1 $135,000 $135,000 $3,114 3.88%
    FRESNO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,707 5.75%
    Grand Rapids, MN (FHA|USDA|VA) 1 $125,000 $125,000 $4,814 4.25%
    Alpena, MI (FHA|USDA|VA) 1 $125,000 $125,000 $1,622 4.25%
    Austin, MN (FHA|USDA|VA) 1 $115,000 $115,000 $3,098 5.88%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $115,000 $115,000 $4,734 5.25%
    Freeport, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,129 5.25%
    Wapakoneta, OH (FHA|USDA|VA) 1 $115,000 $115,000 $6,471 5.75%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,927 5.13%
    Cedartown, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,586 4.50%
    NEW BERN, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,423 4.50%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $105,000 $105,000 $2,137 4.25%
    Somerset, KY (FHA|USDA|VA) 1 $95,000 $95,000 $3,686 5.00%
    Dayton, TN (FHA|USDA|VA) 1 $95,000 $95,000 $2,569 5.25%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,457 4.00%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $95,000 $95,000 $4,296 5.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $95,000 $95,000 $2,397 4.63%
    Findlay, OH (FHA|USDA|VA) 1 $85,000 $85,000 $2,562 5.38%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $85,000 $85,000 $3,295 5.25%
    SALINAS, CA (FHA|USDA|VA) 1 $75,000 $75,000 $1,780 4.13%
    Ludington, MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,629 4.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,189 5.00%
    Bennettsville, SC (FHA|USDA|VA) 1 $55,000 $55,000 $2,269 4.75%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $55,000 $55,000 $3,424 4.88%
    Towne Mortgage Company's top markets include Detroit, Grand Rapids, Atlanta, Lansing, and New York among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,146 $359,480,000 $167,512 $3,345 4.79%
    FHA 1,315 $196,335,000 $149,304 $5,767 4.86%
    VA 313 $59,205,000 $189,153 $5,134 4.57%
    USDA 156 $20,210,000 $129,551 $4,209 4.66%

    For 2018, Towne Mortgage Company's most frequently originated type of loan was Conventional, with 2,146 originations. Their 2nd most popular type was FHA, with 1,315 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,830 $459,470,000 $162,357 $4,479 4.82%
    Cash Out Refi 677 $108,395,000 $160,111 $4,155 4.80%
    Refi 422 $67,310,000 $159,502 $3,614 4.58%
    Home Improvement 1 $55,000 $55,000 $4,297 4.25%

    For 2018, Towne Mortgage Company's most frequently cited loan purpose was Home Purchase, with 2,830 originations. The 2nd most popular reason was Cash Out Refi, with 677 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,477 $572,905,000 $164,770 $4,476 4.83%
    15 Year 268 $35,280,000 $131,642 $3,258 4.28%
    20 Year 128 $18,070,000 $141,172 $2,924 4.68%
    Other 45 $7,515,000 $167,000 $3,979 4.78%
    10 Year 12 $1,460,000 $121,667 $2,562 4.19%

    For 2018, Towne Mortgage Company's most frequently cited loan duration was 30 Year, with 3,477 originations. The 2nd most popular length was 15 Year, with 268 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,010 $315,500,000 $156,965
    $1k-2k 970 $148,440,000 $153,031
    $2k-3k 492 $74,920,000 $152,276
    $3k-4k 198 $34,410,000 $173,788
    $4k-5k 105 $22,885,000 $217,952
    $5k+ 93 $26,325,000 $283,065

    Towne Mortgage Company's average total fees were $4,476, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,010 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,675 $450,745,000 $168,503
    5-6% 995 $142,015,000 $142,729
    3-4% 249 $40,335,000 $161,988
    6-7% 9 $1,315,000 $146,111
    2.5-3% 1 $315,000 $315,000
    7-8% 1 $505,000 $505,000

    During 2018, Towne Mortgage Company's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 2,675 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,038 $295,040,000 $144,769 $4,223 4.78%
    $200k-400k 909 $236,475,000 $260,149 $5,514 4.71%
    $100,000 or less 906 $69,230,000 $76,413 $3,218 4.89%
    $400k-600k 77 $34,485,000 $447,857 $6,378 4.67%

    2018 saw Towne Mortgage Company place emphasis on $100k-200k loans with 2,038 originations, totaling $295,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 1,283 $143,535,000 $111,875 $3,808 4.82%
    $50k-75k 1,258 $191,610,000 $152,313 $4,373 4.79%
    $75k-100k 645 $121,515,000 $188,395 $4,769 4.77%
    $100k-150k 507 $112,905,000 $222,692 $4,903 4.76%
    $150k-250k 188 $49,840,000 $265,106 $4,652 4.73%
    $250k+ 44 $14,860,000 $337,727 $4,252 4.84%

    Towne Mortgage Company lent most frequently to those with incomes in the $50k or less range, with 1,283 originations. The second most popular income band? $50k-75k, with 1,258 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 693 $108,685,000 $156,833 $4,108 4.81%
    20-30% 685 $98,655,000 $144,022 $3,689 4.77%
    50-60% 248 $43,370,000 $174,879 $6,087 4.82%
    42% 167 $28,375,000 $169,910 $4,466 4.81%
    38% 163 $25,475,000 $156,288 $4,358 4.83%
    40% 160 $27,660,000 $172,875 $4,567 4.87%
    39% 154 $25,650,000 $166,558 $4,402 4.84%
    41% 153 $24,945,000 $163,039 $4,089 4.81%
    43% 152 $25,820,000 $169,868 $4,567 4.82%
    44% 150 $24,930,000 $166,200 $4,616 4.85%
    45% 147 $24,645,000 $167,653 $4,604 4.83%
    37% 147 $24,445,000 $166,293 $4,225 4.87%
    48% 133 $25,225,000 $189,662 $4,901 4.83%
    <20% 131 $18,955,000 $144,695 $3,474 4.63%
    49% 128 $22,750,000 $177,734 $4,772 4.72%
    46% 125 $22,465,000 $179,720 $4,217 4.84%
    36% 124 $19,070,000 $153,790 $4,326 4.84%
    47% 123 $20,145,000 $163,780 $4,545 4.84%
    >60% 8 $1,130,000 $141,250 $3,261 4.72%

    Towne Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 693 originations. The next most common DTI ratio? 20-30%, with 685 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,352 $537,460,000 $160,340 $4,272 4.79%
    Black 325 $53,235,000 $163,800 $4,663 4.80%
    Not provided 179 $30,605,000 $170,978 $4,667 4.78%
    Asian 47 $9,935,000 $211,383 $4,510 4.78%
    American Indian 20 $2,770,000 $138,500 $5,174 4.82%
    1 $285,000 $285,000 $3,998 4.88%
    Asian Indian 1 $255,000 $255,000 $2,828 4.63%
    Other Asian 2 $250,000 $125,000 $5,642 4.88%
    Native Hawaiian or Islander 1 $195,000 $195,000 $8,037 5.63%
    Other Pacific Islander 1 $185,000 $185,000 $7,879 5.00%
    Filipino 1 $55,000 $55,000 $3,778 5.00%

    Approval Rates

    Total approvals of all applications
    93.72%

    Towne Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.59%

    Towne Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,930 $635,230,000 $161,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 228 $24,620,000 $107,982
    Single Family (1-4 Units):Site-Built 3,702 $610,610,000 $164,941

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 58 $5,680,000 $97,931 $2,991 4.64%
    40-60% 218 $27,600,000 $126,606 $3,237 4.66%
    60-80% 945 $154,245,000 $163,222 $3,637 4.81%
    80-100% 2,523 $414,205,000 $164,172 $4,635 4.82%
    Over 100% 54 $11,930,000 $220,926 $8,135 4.67%
    Under 20% 4 $320,000 $80,000 $2,483 4.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TOWNE MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 2 33.3%
    TOWNE MORTGAGE COMPANY FHA mortgage Improper use of your report 1 16.7%
    TOWNE MORTGAGE COMPANY FHA mortgage Struggling to pay mortgage 1 16.7%
    TOWNE MORTGAGE COMPANY FHA mortgage Trouble during payment process 1 16.7%
    TOWNE MORTGAGE COMPANY VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%