Is Taylor Morrison Home Funding An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Taylor Morrison Home Funding with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.08%)
Loan Related Closing Costs: higher than average (+$1926)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Taylor Morrison Home Funding originated 4466 mortgages, a national market share of 0.1%. It was most active in AZ (0.4% market share), TX (0.3% market share), and FL (0.2% market share).

On average, Taylor Morrison Home Funding’s interest rates were higher than those of comparable mortgages at other lenders (+0.08%).1The comparable mortgages control for Taylor Morrison Home Funding’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $7511, which was higher than those of comparable mortgages at $5585, with a difference of +$1926. Overall, we estimate that Taylor Morrison Home Funding tends to be an expensive lender, with a cost-adjusted-rate difference of +0.19% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Taylor Morrison Home Funding.

Taylor Morrison Home Funding originated Conforming, FHA, Jumbo and VA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Taylor Morrison Home Funding compared to other lenders

Conforming FHA Jumbo VA
Interest Rate Difference +0.07% +0.04% +0.17% +0.11%
Loan related Closing Cost Difference +$1935 +$1917 +$1820 +$1921
Cost Adjusted Rate Difference +0.19% +0.15% +0.22% +0.20%

Based on the table above, Taylor Morrison Home Funding is more expensive than other lenders for Conforming, FHA, Jumbo and VA purchase mortgages.

Other information about Taylor Morrison Home Funding:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: MAITLAND, FL, 32751

Footnotes   [ + ]

1. The comparable mortgages control for Taylor Morrison Home Funding’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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