Teachers Mortgage Rates, Fees & Info
Hauppauge, NYLEI: 549300R8VPSFM828B312
Tax ID: 11-1751016
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Mortgage Data
Review & Overview
Teachers is a smaller mortgage company specializing in Cash Out Refi, Other, and Home Purchase loans. Teachers has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Charlotte, Philadelphia, and Poughkeepsie among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Teachers 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. Teachers 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 | 6.28% | 12/16/24 |
| 30 Year Conventional Refi | 6.42% | 12/16/24 |
| 30 Year Cash-out Refi | 6.48% | 12/16/24 |
| 15 Year Conventional Purchase | 5.88% | 12/16/24 |
| 15 Year Conventional Refi | 6.18% | 12/16/24 |
| 15 Year Cash-out Refi | 6.18% | 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. | ||
Teachers Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,505Origination Dollar Volume (All Markets)
$368,195,000Awards
TEACHERS - 2018
TEACHERS is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2,466 | $360,330,000 | $146,119 | $1,564 | 3.89% |
| Outside of Metro Areas | 5 | $1,195,000 | $239,000 | $3,821 | 4.30% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $3,955 | 4.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,378 | 3.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $5,331 | 4.63% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,849 | 4.12% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,805 | 4.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,185 | 3.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,654 | 3.75% |
| Hudson, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,046 | 4.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,395 | 4.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,345 | 4.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,512 | 4.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,439 | 3.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,721 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,637 | 5.25% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,052 | 4.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,839 | 3.38% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,898 | 4.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,234 | 3.63% |
| Meadville, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,375 | 3.88% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,843 | 4.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,736 | 3.75% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.74% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,360 | 4.88% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,853 | 4.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,029 | 4.13% |
| OCALA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,674 | 4.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,689 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEACHERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 55
Similarity Rank: 63
Similarity Rank: 66
Similarity Rank: 80
Similarity Rank: 120
Similarity Rank: 120
Similarity Rank: 125
Similarity Rank: 156
Similarity Rank: 203
Similarity Rank: 210
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,852 | $277,290,000 | $149,725 | $1,615 | 4.30% |
| HELOC | 653 | $90,905,000 | $139,211 | n/a | 2.75% |
For 2018, Teachers's most frequently originated type of loan was Conventional, with 1,852 originations. Their 2nd most popular type was HELOC, with 653 originations.
Loan Reason
For 2018, Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,248 originations. The 2nd most popular reason was Other, with 693 originations.
Loan Duration/Length
For 2018, Teachers's most frequently cited loan duration was 10 Year, with 885 originations. The 2nd most popular length was 15 Year, with 720 originations.
Origination Fees/Closing Costs
Teachers's average total fees were $4,754, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,349 originations.
Interest Rates
During 2018, Teachers's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 884 originations.
Loan Sizing
2018 saw Teachers place emphasis on $100,000 or less loans with 1,151 originations, totaling $62,935,000 in origination value.
Applicant Income
Teachers lent most frequently to those with incomes in the $100k-150k range, with 776 originations. The second most popular income band? $150k-250k, with 697 originations.
Applicant Debt to Income Ratio
Teachers lent most frequently to those with DTI ratios of 20-30%, with 445 originations. The next most common DTI ratio? 30-36%, with 394 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.23%
Teachers has an average approval rate.
Pick Rate
Approvals leading to origination84.27%
Teachers has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,505 | $368,195,000 | $146,984 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 2,504 | $368,120,000 | $147,013 |