Trust Mortgage Corp Rates, Fees & Info

San Juan,

LEI: 549300YPNOE7JUQFYZ45

Tax ID: 66-0736233

5 stars - Updated: 6/9/24 - out of 5 stars, based on 19 reviews

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Mortgage Data

Review & Overview

Trust Mortgage Corp is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Trust Mortgage Corp has an average proportion of conventional loans. Their top markets by origination volume include: San Juan, Arecibo, Ponce, San GermÁn, and Aguadilla among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Trust Mortgage Corp has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Trust Mortgage Corp is typically a high 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 relatively high 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 7.55% 6/9/24
30 Year FHA Purchase 7.28% 6/9/24
30 Year FHA Refi 6.05% 6/9/24
30 Year VA Purchase 6.60% 6/9/24
30 Year USDA Purchase 6.82% 6/9/24
15 Year FHA Purchase 6.71% 6/9/24
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.

Trust Mortgage Corp Mortgage Calculator






Your Estimates

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

This is not an official calculator from Trust Mortgage Corp. 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

378

Origination Dollar Volume (All Markets)

$47,550,000

Awards

TRUST MORTGAGE CORP 30 Year Conventional Loans bronze TRUST MORTGAGE CORP FHA Loans silver TRUST MORTGAGE CORP USDA Loans bronze TRUST MORTGAGE CORP FHA Loans silver
Show all (4) awards

Relative Rate

Trust Mortgage Corp's average 30 year fixed mortgage rate was 6.44%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.04%.

Relative Fees (Closing Costs)

Trust Mortgage Corp's average total fees/closing costs for a 30 year fixed rate mortgage were $8,968.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 342 $43,580,000 $127,427 $9,053 6.44%
Arecibo, PR (FHA|USDA|VA) 11 $1,365,000 $124,091 $9,150 6.36%
PONCE, PR (FHA|USDA|VA) 6 $470,000 $78,333 $7,143 6.54%
SAN GERMÁN, PR (FHA|USDA|VA) 4 $470,000 $117,500 $8,793 6.94%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 3 $415,000 $138,333 $9,766 6.00%
Santa Isabel, PR (FHA|USDA|VA) 3 $345,000 $115,000 $9,369 6.67%
MAYAGÜEZ, PR (FHA|USDA|VA) 2 $300,000 $150,000 $5,661 7.13%
GUAYAMA, PR (FHA|USDA|VA) 3 $215,000 $71,667 $6,113 6.08%
Coamo, PR (FHA|USDA|VA) 2 $160,000 $80,000 $6,695 6.13%
YAUCO, PR (FHA|USDA|VA) 1 $125,000 $125,000 $10,308 6.75%
Coco, PR (FHA|USDA|VA) 1 $105,000 $105,000 $7,497 5.75%
Trust Mortgage Corp's top markets include San Juan, Arecibo, Ponce, San GermÁn, and Aguadilla among others.

Their top states include:
  • Puerto Rico (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against TRUST MORTGAGE CORP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 243 $30,915,000 $127,222 $9,749 6.24%
    USDA 66 $7,350,000 $111,364 $7,750 6.27%
    Conventional 45 $5,245,000 $116,556 $6,752 7.83%
    VA 24 $4,040,000 $168,333 $8,701 6.25%

    For 2023, Trust Mortgage Corp's most frequently originated type of loan was FHA, with 243 originations. Their 2nd most popular type was USDA, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 378 $47,550,000 $125,794 $8,977 6.44%

    For 2023, Trust Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 378 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 373 $46,895,000 $125,724 $8,968 6.44%
    20 Year 3 $415,000 $138,333 $9,506 6.42%
    15 Year 2 $240,000 $120,000 $9,881 6.00%

    For 2023, Trust Mortgage Corp's most frequently cited loan duration was 30 Year, with 373 originations. The 2nd most popular length was 20 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 99 $17,105,000 $172,778
    $3k-4k 92 $9,700,000 $105,435
    $4k-5k 66 $7,230,000 $109,545
    $2k-3k 60 $5,160,000 $86,000
    $<1k 36 $5,370,000 $149,167
    $1k-2k 25 $2,985,000 $119,400

    Trust Mortgage Corp's average total fees were $8,968, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 193 $23,255,000 $120,492
    5-6% 133 $18,765,000 $141,090
    7-8% 40 $4,350,000 $108,750
    Over 8% 12 $1,180,000 $98,333

    During 2023, Trust Mortgage Corp's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was 6-7%, with 193 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 192 $26,320,000 $137,083 $9,562 6.38%
    $100,000 or less 150 $11,540,000 $76,933 $6,912 6.57%
    $200k-400k 34 $8,610,000 $253,235 $14,444 6.20%
    $400k-600k 1 $455,000 $455,000 $23,295 5.75%
    $600k-1MM 1 $625,000 $625,000 $5,956 6.75%

    2023 saw Trust Mortgage Corp place emphasis on $100k-200k loans with 192 originations, totaling $26,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 248 $24,520,000 $98,871 $8,013 6.43%
    $50k-75k 75 $11,545,000 $153,933 $10,189 6.46%
    $75k-100k 29 $5,445,000 $187,759 $11,041 6.48%
    $100k-150k 18 $3,420,000 $190,000 $11,364 6.42%
    $150k-250k 6 $1,740,000 $290,000 $16,125 6.17%
    $250k+ 2 $880,000 $440,000 $10,104 6.25%

    Trust Mortgage Corp lent most frequently to those with incomes in the $50k or less range, with 248 originations. The second most popular income band? $50k-75k, with 75 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 63 $8,125,000 $128,968 $9,431 6.52%
    20-30% 53 $6,835,000 $128,962 $9,032 6.32%
    49% 33 $4,785,000 $145,000 $9,809 6.40%
    44% 22 $2,660,000 $120,909 $8,935 6.75%
    45% 21 $2,805,000 $133,571 $8,833 6.64%
    42% 19 $2,335,000 $122,895 $8,560 6.37%
    38% 19 $1,855,000 $97,632 $7,609 6.40%
    41% 18 $2,110,000 $117,222 $8,643 6.44%
    36% 18 $2,500,000 $138,889 $8,920 6.49%
    43% 17 $1,895,000 $111,471 $8,370 6.40%
    47% 17 $2,035,000 $119,706 $8,595 6.51%
    46% 15 $1,725,000 $115,000 $10,489 6.47%
    48% 15 $1,605,000 $107,000 $9,582 6.35%
    37% 12 $1,490,000 $124,167 $7,536 6.54%
    40% 11 $1,475,000 $134,091 $8,702 6.02%
    39% 10 $1,180,000 $118,000 $8,095 6.36%
    <20% 8 $960,000 $120,000 $9,488 6.06%
    50-60% 7 $1,175,000 $167,857 $8,386 6.29%

    Trust Mortgage Corp lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 377 $47,375,000 $125,663 $8,992 6.43%
    Black 1 $175,000 $175,000 $3,053 7.38%

    Approval Rates

    Total approvals of all applications
    86.50%

    Trust Mortgage Corp has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.28%

    Trust Mortgage Corp has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 378 $47,550,000 $125,794

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    378 $47,550,000 $125,794

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $5,289 6.25%
    40-60% 27 $1,665,000 $61,667 $6,297 6.59%
    60-80% 148 $14,880,000 $100,541 $8,386 6.53%
    80-100% 185 $28,135,000 $152,081 $9,581 6.36%
    Over 100% 17 $2,825,000 $166,176 $12,014 6.22%