Is Truliant Federal Credit Union An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Truliant Federal Credit Union with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.04%)
Loan Related Closing Costs: lower than average (-$565)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Truliant Federal Credit Union originated 1651 mortgages, a national market share of 0.0%. It was most active in NC (0.6% market share), VA (0.1% market share), and SC (0.1% market share).

On average, Truliant Federal Credit Union’s interest rates were similar to those of comparable mortgages at other lenders (+0.04%).1The comparable mortgages control for Truliant Federal Credit Union’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 $1417, which was lower than those of comparable mortgages at $1981, with a difference of -$565. Overall, we estimate that Truliant Federal Credit Union tends to be an cheap lender, with a cost-adjusted-rate difference of -0.11% 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. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Truliant Federal Credit Union.

Truliant Federal Credit Union originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. 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 Truliant Federal Credit Union compared to other lenders

Conforming
Interest Rate Difference -0.08%
Loan related Closing Cost Difference +$584
Cost Adjusted Rate Difference -0.04%

Based on the table above, Truliant Federal Credit Union is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Truliant Federal Credit Union compared to other lenders

Conforming
Interest Rate Difference +0.07%
Loan Related Closing Cost Difference -$947
Cost Adjusted Rate Difference -0.13%

Based on the table above, Truliant Federal Credit Union is cheap for Conforming mortgage refinance.

Other information about Truliant Federal Credit Union:

Regulator: National Credit Union Administration (NCUA) 
Registered city and state: Winston Salem, NC, 27103
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Footnotes   [ + ]

1. The comparable mortgages control for Truliant Federal Credit Union’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.