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, Los Angeles, Myrtle Beach, and Tampa among others. We have data for 61 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.
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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
4,122Origination Dollar Volume (All Markets)
$1,047,120,000Awards
TEACHERS - 2021
TEACHERS is a 2021 , due to their low .
For 2021, 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) | 3,941 | $998,045,000 | $253,247 | $3,415 | 3.14% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $5,740,000 | $478,333 | $5,428 | 3.05% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $5,140,000 | $856,667 | $5,520 | 3.31% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 12 | $2,090,000 | $174,167 | $3,509 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,015,000 | $223,889 | $3,905 | 2.76% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 8 | $2,010,000 | $251,250 | $3,581 | 3.14% |
| Outside of Metro Areas | 11 | $1,975,000 | $179,545 | $3,713 | 2.92% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 9 | $1,935,000 | $215,000 | $4,136 | 2.93% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 6 | $1,900,000 | $316,667 | $4,645 | 3.17% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $1,765,000 | $252,143 | $4,214 | 2.89% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $3,864 | 2.81% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $1,425,000 | $203,571 | $3,660 | 2.84% |
| GLENS FALLS, NY (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $3,597 | 2.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $3,588 | 2.81% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $4,333 | 2.95% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $1,140,000 | $190,000 | $4,680 | 2.92% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 6 | $900,000 | $150,000 | $3,108 | 3.04% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,724 | 3.04% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $4,582 | 3.15% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $3,426 | 3.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $5,828 | 2.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $4,926 | 2.81% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $4,218 | 2.71% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $4,024 | 3.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,887 | 3.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,430 | 3.37% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $3,074 | 2.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,817 | 3.16% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,711 | 2.50% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,579 | 2.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,782 | 2.88% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,374 | 2.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,544 | 2.75% |
| Brevard, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,735 | 2.75% |
| ROCHESTER, NY (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,346 | 3.16% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,826 | 2.50% |
| Newberry, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,924 | 2.38% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,129 | 3.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 3.49% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,283 | 4.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,236 | 3.38% |
| BINGHAMTON, NY (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,678 | 3.06% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $655 | 2.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,124 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $4,374 | 3.12% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,649 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,677 | 3.88% |
| Corning, NY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,353 | 2.94% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,144 | 2.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,411 | 2.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,137 | 3.25% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,981 | 2.63% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,415 | 2.38% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,576 | 2.50% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,469 | 2.75% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,140 | 2.88% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 2.63% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,579 | 2.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.49% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $600 | 3.13% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.49% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3,319 | $944,395,000 | $284,542 | $3,439 | 3.16% |
| HELOC | 803 | $102,725,000 | $127,927 | n/a | 3.02% |
For 2021, Teachers's most frequently originated type of loan was Conventional, with 3,319 originations. Their 2nd most popular type was HELOC, with 803 originations.
Loan Reason
For 2021, Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,647 originations. The 2nd most popular reason was Refi, with 982 originations.
Loan Duration/Length
For 2021, Teachers's most frequently cited loan duration was 30 Year, with 1,435 originations. The 2nd most popular length was 15 Year, with 1,249 originations.
Origination Fees/Closing Costs
Teachers's average total fees were $4,181, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,628 originations.
Interest Rates
During 2021, Teachers's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,063 originations.
Loan Sizing
2021 saw Teachers place emphasis on $200k-400k loans with 1,680 originations, totaling $485,990,000 in origination value.
Applicant Income
Teachers lent most frequently to those with incomes in the $100k-150k range, with 1,234 originations. The second most popular income band? $150k-250k, with 1,149 originations.
Applicant Debt to Income Ratio
Teachers lent most frequently to those with DTI ratios of 20-30%, with 877 originations. The next most common DTI ratio? 30-36%, with 642 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.79%
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 origination81.68%
Teachers has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 77 | $2,295,000 | $29,805 |
| NA | 4,045 | $1,044,825,000 | $258,300 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,122 | $1,047,120,000 | $254,032 |