Teachers Mortgage Rates, Fees & Info
Hauppauge, NYLEI: 549300R8VPSFM828B312
Tax ID: 11-1751016
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Mortgage Data
Review & Overview
Teachers is a small 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, Miami, Albany, Poughkeepsie, and Myrtle Beach among others. We have data for 52 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.28% | 4/21/24 |
| 30 Year Conventional Refi | 6.42% | 4/21/24 |
| 30 Year Cash-out Refi | 6.48% | 4/21/24 |
| 15 Year Conventional Purchase | 5.88% | 4/21/24 |
| 15 Year Conventional Refi | 6.18% | 4/21/24 |
| 15 Year Cash-out Refi | 6.18% | 4/21/24 |
| 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
5,166Origination Dollar Volume (All Markets)
$1,368,020,000Awards
TEACHERS - 2020
TEACHERS is a 2020 , due to their low .
For 2020, 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) | 4,960 | $1,319,530,000 | $266,034 | $3,678 | 3.21% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 25 | $6,405,000 | $256,200 | $4,497 | 3.19% |
| Outside of Metro Areas | 16 | $3,720,000 | $232,500 | $3,980 | 2.92% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 16 | $3,500,000 | $218,750 | $3,808 | 3.08% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 11 | $3,355,000 | $305,000 | $4,165 | 2.89% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 12 | $2,490,000 | $207,500 | $4,173 | 3.19% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $1,920,000 | $240,000 | $4,997 | 2.98% |
| Hudson, NY (FHA|USDA|VA) | 5 | $1,665,000 | $333,000 | $4,658 | 2.88% |
| ROCHESTER, NY (FHA|USDA|VA) | 9 | $1,625,000 | $180,556 | $3,781 | 3.08% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 6 | $1,550,000 | $258,333 | $4,014 | 2.85% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $4,066 | 2.98% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $4,903 | 3.08% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $1,455,000 | $207,857 | $4,200 | 2.95% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $5,555 | 3.22% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $4,387 | 2.83% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $4,100 | 2.92% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $4,183 | 3.38% |
| Auburn, NY (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $5,614 | 2.88% |
| KINGSTON, NY (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $3,014 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $4,205 | 2.96% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $4,654 | 2.81% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $4,064 | 3.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $3,992 | 3.04% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $4,467 | 3.43% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $3,979 | 3.00% |
| GLENS FALLS, NY (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,409 | 3.31% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,492 | 2.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,334 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,744 | 3.13% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,771 | 2.81% |
| SYRACUSE, NY (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $4,181 | 2.63% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 3.49% |
| Oneonta, NY (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,461 | 2.83% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,264 | 2.88% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,721 | 3.06% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,148 | 3.00% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,012 | 3.13% |
| Newberry, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,584 | 3.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,664 | 2.88% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,085 | 3.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,056 | 2.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,744 | 2.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,364 | 2.50% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,633 | 3.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,906 | 2.63% |
| BINGHAMTON, NY (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $1,727 | 2.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,089 | 3.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,976 | 3.63% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,217 | 3.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,833 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.49% |
| OCALA, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $550 | 4.99% |
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: 134
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 4,456 | $1,268,420,000 | $284,654 | $3,701 | 3.24% |
| HELOC | 710 | $99,600,000 | $140,282 | n/a | 3.00% |
For 2020, Teachers's most frequently originated type of loan was Conventional, with 4,456 originations. Their 2nd most popular type was HELOC, with 710 originations.
Loan Reason
For 2020, Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,945 originations. The 2nd most popular reason was Refi, with 1,944 originations.
Loan Duration/Length
For 2020, Teachers's most frequently cited loan duration was 30 Year, with 1,845 originations. The 2nd most popular length was 15 Year, with 1,813 originations.
Origination Fees/Closing Costs
Teachers's average total fees were $4,409, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,394 originations.
Interest Rates
During 2020, Teachers's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,774 originations.
Loan Sizing
2020 saw Teachers place emphasis on $200k-400k loans with 2,452 originations, totaling $722,580,000 in origination value.
Applicant Income
Teachers lent most frequently to those with incomes in the $150k-250k range, with 1,672 originations. The second most popular income band? $100k-150k, with 1,550 originations.
Applicant Debt to Income Ratio
Teachers lent most frequently to those with DTI ratios of 20-30%, with 1,501 originations. The next most common DTI ratio? 30-36%, with 962 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.50%
Teachers has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.64%
Teachers has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 115 | $3,385,000 | $29,435 |
| NA | 5,051 | $1,364,635,000 | $270,171 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 5,166 | $1,368,020,000 | $264,812 |