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We analyzed every closed loan from T2 Financial — 7.1k loans across 9k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Acceptable
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Strong
National · 49 mkts
Safe Rate Awards⭐FHA Superstar⭐VA Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Pricing may be below industry average
Explore another lender or local market
Report Card
T2 Financial LLC performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Near industry average +47.1 bps above market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Market Leader Top 20% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
USDA | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 4,265 | 60.4% | +0.450%Above | $2,910Fees | ||||
FHA Loans | 1,941 | 27.5% | +0.695%Above | $3,481Fees | ||||
VA Loans | 656 | 9.3% | -0.082%Below | $3,187Fees | ||||
Jumbo Loans | 89 | 1.3% | +0.377%Above | $2,008Fees | ||||
USDA Loans | 106 | 1.5% | +0.354%Above | $2,544Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 6,561 | 93.0% | +0.486%Above | $3,182Fees | ||||
Refinance | 496 | 7.0% | +0.298%Above | $1,677Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
7,057
Applications
9,172
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.471%
vs. market APOR
Avg Net Fees
$3,069
Origination − Credits
Pullthrough Rate
76.9%
Applications → Closed
Typical Borrower
Avg Loan Amount
$338,891
Avg Borrower Income
$143,887
Avg Property Value
$417,942
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
45
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALARAZCACOCTDCDEFLGAIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNENHNJNMNVOHOKORPARISCTNTXUTVAWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Lubbock, TX, TXMSA
Volume: 480Mix: 6.80%of portfolio
Place
Exceptional2
Myrtle Beach, SCMSA
Volume: 244Mix: 3.46%of portfolio
Place
Exceptional3
Columbus, OH, OHMSA
Volume: 299Mix: 4.24%of portfolio
Place
Strong4
Houston, TXMSA
Volume: 498Mix: 7.06%of portfolio
Place
Strong5
San Angelo, TX, TXMSA
Volume: 81Mix: 1.15%of portfolio
Place
Strong6
Hilton Head Island, SCMSA
Volume: 101Mix: 1.43%of portfolio
Place
Strong7
Lewiston, MEMSA
Volume: 58Mix: 0.82%of portfolio
Place
Strong8
Norwich, CTMSA
Volume: 60Mix: 0.85%of portfolio
Place
Strong9
Allentown, PA-NJMSA
Volume: 107Mix: 1.52%of portfolio
Place
Strong10
Waterbury, CTMSA
Volume: 77Mix: 1.09%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
TXState
Volume: 1,478Mix: 20.94%of portfolio
Place
Exceptional2
SCState
Volume: 468Mix: 6.63%of portfolio
Place
Strong3
CTState
Volume: 390Mix: 5.53%of portfolio
Place
Strong4
KYState
Volume: 294Mix: 4.17%of portfolio
Place
Strong5
OHState
Volume: 552Mix: 7.82%of portfolio
Place
Strong6
NCState
Volume: 474Mix: 6.72%of portfolio
Place
Strong7
WAState
Volume: 262Mix: 3.71%of portfolio
Place
Strong8
ILState
Volume: 337Mix: 4.78%of portfolio
Place
Strong9
MEState
Volume: 136Mix: 1.93%of portfolio
Place
Strong10
VAState
Volume: 215Mix: 3.05%of portfolio
Place
StrongShowing 10 of 35 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.