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, Arecibo, Ponce, Guayama, and San GermÁn among others. We have data for 12 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
480Origination Dollar Volume (All Markets)
$59,220,000Top 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) | 446 | $55,530,000 | $124,507 | $8,776 | 3.34% |
| Arecibo, PR (FHA|USDA|VA) | 8 | $830,000 | $103,750 | $6,460 | 3.23% |
| PONCE, PR (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $9,405 | 3.50% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $12,876 | 3.06% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $12,718 | 3.58% |
| Coamo, PR (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $7,210 | 3.25% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $8,699 | 3.17% |
| Coco, PR (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $5,285 | 3.13% |
| Santa Isabel, PR (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $5,147 | 3.75% |
| Outside of Metro Areas | 1 | $155,000 | $155,000 | $39,303 | 3.00% |
| Jayuya, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,983 | 3.00% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,872 | 5.00% |
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 2020, Trust Mortgage Corp's most frequently originated type of loan was FHA, with 256 originations. Their 2nd most popular type was USDA, with 144 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 478 | $58,920,000 | $123,264 | $8,815 | 3.34% |
| Refi | 2 | $300,000 | $150,000 | $7,406 | 3.81% |
For 2020, Trust Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 478 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2020, Trust Mortgage Corp's most frequently cited loan duration was 30 Year, with 468 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
Trust Mortgage Corp's average total fees were $8,905, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 132 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 285 | $37,065,000 | $130,053 |
| 3-4% | 135 | $15,615,000 | $115,667 |
| 4-5% | 58 | $6,230,000 | $107,414 |
| <2.5% | 2 | $310,000 | $155,000 |
During 2020, Trust Mortgage Corp's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 2.5-3%, with 285 originations.
Loan Sizing
2020 saw Trust Mortgage Corp place emphasis on $100k-200k loans with 272 originations, totaling $36,100,000 in origination value.
Applicant Income
Trust Mortgage Corp lent most frequently to those with incomes in the $50k or less range, with 339 originations. The second most popular income band? $50k-75k, with 86 originations.
Applicant Debt to Income Ratio
Trust Mortgage Corp lent most frequently to those with DTI ratios of 30-36%, with 90 originations. The next most common DTI ratio? 20-30%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.51%
Trust Mortgage Corp has an average approval rate.
Pick Rate
Approvals leading to origination80.00%
Trust Mortgage Corp has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 480 | $59,220,000 | $123,375 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 480 | $59,220,000 | $123,375 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUSTMARK CORPORATION | VA mortgage | Trouble during payment process | 1 | 25.0% |
| TRUSTMARK CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| TRUSTMARK CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 2 | 50.0% |