Teachers Mortgage Rates, Fees & Info
Hauppauge, NYLEI: 549300R8VPSFM828B312
Tax ID: 11-1751016
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Teachers is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Teachers has a high proportion of conventional loans. Their top markets by origination volume include: New York, Charlotte, Miami, Poughkeepsie, and Buffalo among others. We have data for 30 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.
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 | 6.28% | 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Teachers. 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
3,355Origination Dollar Volume (All Markets)
$681,645,000Awards
TEACHERS - 2019
TEACHERS is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
Work for TEACHERS?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 3,266 | $663,650,000 | $203,200 | $3,467 | 3.86% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 7 | $1,915,000 | $273,571 | $4,829 | 3.14% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $1,800,000 | $150,000 | $3,596 | 3.56% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 9 | $1,615,000 | $179,444 | $3,701 | 3.14% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $5,522 | 3.19% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $3,944 | 3.23% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $5,065 | 3.22% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $4,143 | 3.05% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $3,636 | 3.53% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $8,191 | 3.56% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $3,260 | 3.46% |
| Outside of Metro Areas | 5 | $605,000 | $121,000 | $3,294 | 3.78% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,251 | 3.42% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,044 | 3.69% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,635 | 3.44% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,332 | 3.31% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,027 | 3.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,425 | 3.25% |
| Corning, NY (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,479 | 3.63% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,376 | 3.13% |
| Hudson, NY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,605 | 2.88% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,497 | 3.88% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,316 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $2,462 | 4.09% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,428 | 3.25% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,398 | 3.31% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,283 | 4.50% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $585 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,890 | 3.13% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,949 | 3.00% |
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: 56
Similarity Rank: 104
Similarity Rank: 150
Similarity Rank: 188
Similarity Rank: 192
Similarity Rank: 212
Similarity Rank: 220
Similarity Rank: 246
Similarity Rank: 266
Similarity Rank: 290
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,587 | $577,675,000 | $223,299 | $3,495 | 4.10% |
| HELOC | 768 | $103,970,000 | $135,378 | n/a | 2.99% |
For 2019, Teachers's most frequently originated type of loan was Conventional, with 2,587 originations. Their 2nd most popular type was HELOC, with 768 originations.
Loan Reason
For 2019, Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,307 originations. The 2nd most popular reason was Other, with 791 originations.
Loan Duration/Length
For 2019, Teachers's most frequently cited loan duration was 15 Year, with 1,164 originations. The 2nd most popular length was 30 Year, with 826 originations.
Origination Fees/Closing Costs
Teachers's average total fees were $5,482, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 962 originations.
Interest Rates
During 2019, Teachers's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,317 originations.
Loan Sizing
2019 saw Teachers place emphasis on $100,000 or less loans with 1,127 originations, totaling $59,825,000 in origination value.
Applicant Income
Teachers lent most frequently to those with incomes in the $100k-150k range, with 1,027 originations. The second most popular income band? $150k-250k, with 1,014 originations.
Applicant Debt to Income Ratio
Teachers lent most frequently to those with DTI ratios of 20-30%, with 750 originations. The next most common DTI ratio? 30-36%, with 555 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.48%
Teachers has an average approval rate.
Pick Rate
Approvals leading to origination85.22%
Teachers has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 178 | $5,020,000 | $28,202 |
| NA | 3,177 | $676,625,000 | $212,976 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 3,355 | $681,645,000 | $203,173 |