Trust Mortgage Corp Rates, Fees & Info
San Juan,LEI: 549300YPNOE7JUQFYZ45
Tax ID: 66-0736233
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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, Guayama, Arecibo, Aguadilla, and Santa Isabel 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 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 | 7.55% | 11/21/24 |
| 30 Year FHA Purchase | 7.28% | 11/21/24 |
| 30 Year FHA Refi | 6.05% | 11/21/24 |
| 30 Year VA Purchase | 6.60% | 11/21/24 |
| 30 Year USDA Purchase | 6.82% | 11/21/24 |
| 15 Year FHA Purchase | 6.71% | 11/21/24 |
| 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. | ||
Trust Mortgage Corp Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
365Origination Dollar Volume (All Markets)
$42,925,000Top 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) | 333 | $40,135,000 | $120,526 | $9,273 | 4.44% |
| GUAYAMA, PR (FHA|USDA|VA) | 9 | $745,000 | $82,778 | $6,439 | 4.28% |
| Arecibo, PR (FHA|USDA|VA) | 6 | $550,000 | $91,667 | $8,225 | 4.42% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $5,131 | 4.00% |
| Santa Isabel, PR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $19,049 | 4.50% |
| Coco, PR (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $14,872 | 4.67% |
| Coamo, PR (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $7,073 | 3.67% |
| PONCE, PR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $6,855 | 4.25% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,552 | 5.00% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,430 | 0.00% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $7,858 | 6.00% |
Their top states include:
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.
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Product Mix
For 2019, Trust Mortgage Corp's most frequently originated type of loan was FHA, with 200 originations. Their 2nd most popular type was USDA, with 80 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 362 | $42,450,000 | $117,265 | $9,197 | 4.44% |
| Refi | 2 | $210,000 | $105,000 | $6,898 | 4.50% |
| Other | 1 | $265,000 | $265,000 | $9,157 | 3.00% |
For 2019, Trust Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 362 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 356 | $41,990,000 | $117,949 | $9,256 | 4.43% |
| 15 Year | 9 | $935,000 | $103,889 | $6,346 | 4.56% |
For 2019, Trust Mortgage Corp's most frequently cited loan duration was 30 Year, with 356 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Trust Mortgage Corp's average total fees were $9,256, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 154 | $18,260,000 | $118,571 |
| 3-4% | 149 | $17,735,000 | $119,027 |
| 5-6% | 38 | $3,760,000 | $98,947 |
| 6-7% | 8 | $660,000 | $82,500 |
| 2.5-3% | 3 | $585,000 | $195,000 |
During 2019, Trust Mortgage Corp's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 154 originations.
Loan Sizing
2019 saw Trust Mortgage Corp place emphasis on $100k-200k loans with 174 originations, totaling $23,150,000 in origination value.
Applicant Income
Trust Mortgage Corp lent most frequently to those with incomes in the $50k or less range, with 242 originations. The second most popular income band? $50k-75k, with 67 originations.
Applicant Debt to Income Ratio
Trust Mortgage Corp lent most frequently to those with DTI ratios of 30-36%, with 74 originations. The next most common DTI ratio? 20-30%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.84%
Trust Mortgage Corp has a below average approval rate.
Pick Rate
Approvals leading to origination86.58%
Trust Mortgage Corp has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 365 | $42,925,000 | $117,603 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 365 | $42,925,000 | $117,603 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUSTMARK CORPORATION | Conventional home mortgage | Trouble during payment process | 5 | 45.5% |
| TRUSTMARK CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 9.1% |
| TRUSTMARK CORPORATION | FHA mortgage | Trouble during payment process | 1 | 9.1% |
| TRUSTMARK CORPORATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 9.1% |
| TRUSTMARK CORPORATION | Other type of mortgage | Closing on a mortgage | 1 | 9.1% |
| TRUSTMARK CORPORATION | Other type of mortgage | Trouble during payment process | 2 | 18.2% |