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, San GermÁn, Ponce, and Guayama among others. We have data for 10 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
596Origination Dollar Volume (All Markets)
$79,800,000Top 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) | 525 | $71,905,000 | $136,962 | $9,970 | 3.24% |
| Arecibo, PR (FHA|USDA|VA) | 24 | $2,390,000 | $99,583 | $7,318 | 3.27% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 15 | $1,755,000 | $117,000 | $6,846 | 3.27% |
| PONCE, PR (FHA|USDA|VA) | 8 | $1,190,000 | $148,750 | $7,482 | 3.13% |
| GUAYAMA, PR (FHA|USDA|VA) | 8 | $890,000 | $111,250 | $15,892 | 3.25% |
| Coamo, PR (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $8,264 | 3.00% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 5 | $455,000 | $91,000 | $7,816 | 3.18% |
| YAUCO, PR (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $11,108 | 3.13% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $18,714 | 3.00% |
| Coco, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $8,767 | 2.75% |
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 2021, Trust Mortgage Corp's most frequently originated type of loan was FHA, with 308 originations. Their 2nd most popular type was USDA, with 165 originations.
Loan Reason
For 2021, Trust Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 573 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
For 2021, Trust Mortgage Corp's most frequently cited loan duration was 30 Year, with 583 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Trust Mortgage Corp's average total fees were $9,856, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 160 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 366 | $48,930,000 | $133,689 |
| 3-4% | 185 | $25,955,000 | $140,297 |
| 4-5% | 35 | $3,585,000 | $102,429 |
| <2.5% | 6 | $980,000 | $163,333 |
| 5-6% | 4 | $350,000 | $87,500 |
During 2021, Trust Mortgage Corp's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 2.5-3%, with 366 originations.
Loan Sizing
2021 saw Trust Mortgage Corp place emphasis on $100k-200k loans with 355 originations, totaling $47,375,000 in origination value.
Applicant Income
Trust Mortgage Corp lent most frequently to those with incomes in the $50k or less range, with 405 originations. The second most popular income band? $50k-75k, with 109 originations.
Applicant Debt to Income Ratio
Trust Mortgage Corp lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 101 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 594 | $79,610,000 | $134,024 | $9,852 | 3.23% |
| Black | 2 | $190,000 | $95,000 | $5,025 | 4.50% |
Approval Rates
Total approvals of all applications89.10%
Trust Mortgage Corp has an average approval rate.
Pick Rate
Approvals leading to origination77.85%
Trust Mortgage Corp has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 596 | $79,800,000 | $133,893 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUSTMARK CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 10.0% |
| TRUSTMARK CORPORATION | Conventional home mortgage | Trouble during payment process | 2 | 20.0% |
| TRUSTMARK CORPORATION | FHA mortgage | Closing on a mortgage | 1 | 10.0% |
| TRUSTMARK CORPORATION | FHA mortgage | Trouble during payment process | 2 | 20.0% |
| TRUSTMARK CORPORATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 10.0% |
| TRUSTMARK CORPORATION | Other type of mortgage | Trouble during payment process | 1 | 10.0% |
| TRUSTMARK CORPORATION | VA mortgage | Struggling to pay mortgage | 1 | 10.0% |
| TRUSTMARK CORPORATION | VA mortgage | Trouble during payment process | 1 | 10.0% |