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, Aguadilla, San GermÁn, and Guayama 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.55% | 4/28/24 |
| 30 Year FHA Purchase | 7.28% | 4/28/24 |
| 30 Year FHA Refi | 6.05% | 4/28/24 |
| 30 Year VA Purchase | 6.60% | 4/28/24 |
| 30 Year USDA Purchase | 6.82% | 4/28/24 |
| 15 Year FHA Purchase | 6.71% | 4/28/24 |
| 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
415Origination Dollar Volume (All Markets)
$54,885,000Top 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) | 375 | $50,335,000 | $134,227 | $11,087 | 5.20% |
| Arecibo, PR (FHA|USDA|VA) | 13 | $1,415,000 | $108,846 | $9,253 | 5.35% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 8 | $1,040,000 | $130,000 | $9,435 | 4.38% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 6 | $780,000 | $130,000 | $9,088 | 4.67% |
| GUAYAMA, PR (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $8,160 | 4.44% |
| Coamo, PR (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $6,236 | 4.50% |
| Jayuya, PR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,216 | 4.00% |
| Coco, PR (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $5,172 | 4.88% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,578 | 5.25% |
| PONCE, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $7,920 | 3.00% |
| Santa Isabel, PR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $6,280 | 6.25% |
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 2022, Trust Mortgage Corp's most frequently originated type of loan was FHA, with 250 originations. Their 2nd most popular type was USDA, with 90 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 414 | $54,770,000 | $132,295 | $10,792 | 5.17% |
| Refi | 1 | $115,000 | $115,000 | $33,339 | 3.00% |
For 2022, Trust Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 414 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 414 | $54,810,000 | $132,391 | $10,857 | 5.16% |
| 15 Year | 1 | $75,000 | $75,000 | $6,485 | 5.75% |
For 2022, Trust Mortgage Corp's most frequently cited loan duration was 30 Year, with 414 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Trust Mortgage Corp's average total fees were $10,857, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 151 originations.
Interest Rates
During 2022, Trust Mortgage Corp's average interest rate for loans was 5.16%, while their most frequently originated rate bucket for loans was 5-6%, with 146 originations.
Loan Sizing
2022 saw Trust Mortgage Corp place emphasis on $100k-200k loans with 224 originations, totaling $29,640,000 in origination value.
Applicant Income
Trust Mortgage Corp lent most frequently to those with incomes in the $50k or less range, with 269 originations. The second most popular income band? $50k-75k, with 77 originations.
Applicant Debt to Income Ratio
Trust Mortgage Corp lent most frequently to those with DTI ratios of 30-36%, with 78 originations. The next most common DTI ratio? 20-30%, with 49 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 411 | $54,165,000 | $131,788 | $10,802 | 5.17% |
| Black | 4 | $720,000 | $180,000 | $15,413 | 4.75% |
Approval Rates
Total approvals of all applications82.64%
Trust Mortgage Corp has a below average approval rate.
Pick Rate
Approvals leading to origination76.87%
Trust Mortgage Corp has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 415 | $54,885,000 | $132,253 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUIST FINANCIAL CORPORATION | Conventional home mortgage | Trouble during payment process | 3 | 37.5% |
| TRUIST FINANCIAL CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 12.5% |
| TRUIST FINANCIAL CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 12.5% |
| TRUIST FINANCIAL CORPORATION | FHA mortgage | Trouble during payment process | 1 | 12.5% |
| TRUIST FINANCIAL CORPORATION | Other type of mortgage | Struggling to pay mortgage | 1 | 12.5% |
| TRUIST FINANCIAL CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 12.5% |