What loan types does TOWER Federal Credit Union offer?

TOWER Federal Credit Union offers the following mortgage loan types: Conventional. Each product has its own pricing score and performance metrics.

Where does TOWER Federal Credit Union offer mortgages?

TOWER Federal Credit Union offers mortgages in 25 states: AL, AR, AZ, CO, DC, DE, FL, GA, IL, LA, MD, ME, MI, NC, NH, NJ, NY, OH, OR, PA, SC, TN, TX, VA, WV.

How competitive are TOWER Federal Credit Union's mortgage rates?

TOWER Federal Credit Union has an overall pricing score of 62.4/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is TOWER Federal Credit Union?

TOWER Federal Credit Union is a Credit Union headquartered in Laurel, MD.

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TOWER Federal Credit Union

Credit Union•Laurel, MDHQ•Direct•Reviews near you on Google

TOWER Federal Credit Union has 201 closed loans in our dataset — fully analyzed and benchmarked against peers across the 5 Ps of Mortgage Shopping.

Ratings· each scored 1–5 against peer lenders

Pricing

Strong

4/5

vs. all lenders

Pull-through

Acceptable

2/5

closing strength

Product

Sound

3/5

Conventional

Place

Sound

3/5

Near-National · 2 mkts

Summary

What They Do Well

Offers rates 31.00 basis points below market average
Lower than average lender fees
Nationwide availability with consistent service

Things to Think About

Pull through efficiency is below industry average

Explore another lender or local market

Report Card

TOWER Federal Credit Union performance at a glance

Overall Performance· Pricing & closing strength

Pricing

Rate competitiveness

Strong

Rates 31.0 bps below market avg

Pull Through

Closing strength

Acceptable

Bottom 40% of lenders

By Loan Product· Specialization by type

Conventional

Sound

Top 60% of lenders

By Loan Purpose· Transaction purpose mix

Purchase

Sound

Top 60% of lenders

Refinance

Sound

Top 60% of lenders

By Location· Geographic coverage

Geographic Reach

Near-National · 3 markets

Sound

Top 60% of lenders

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Sound	Sound	Strong	Acceptable	196	97.5%	-0.317%Below	$1,921Fees

Conventional

Overall

Sound

Product

Sound

Pricing

Strong

Pull Through

Acceptable

Volume196

Mix97.5%

Spread

-0.317%Below

Fees

$1,921Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Acceptable	Sound	Sound	Acceptable	150	74.6%	-0.226%Below	$2,017Fees
Refinance	Sound	Sound	Strong	Sound	51	25.4%	-0.554%Below	$1,659Fees

Purchase

Overall

Acceptable

Product

Sound

Pricing

Sound

Pull Through

Acceptable

Volume150

Mix74.6%

Spread

-0.226%Below

Fees

$2,017Fees

Refinance

Overall

Sound

Product

Sound

Pricing

Strong

Pull Through

Sound

Volume51

Mix25.4%

Spread

-0.554%Below

Fees

$1,659Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

201

Applications

427

Volume

$80 million

Pricing & Closing

Avg Rate Spread

-0.310%

vs. market APOR

Avg Net Fees

$1,925

Origination − Credits

Pullthrough Rate

47.1%

Applications → Closed

Typical Borrower

Avg Loan Amount

$398,632

Avg Borrower Income

$186,836

Avg Property Value

$563,756

Geographic Coverage

Geographic Performance

Metro Areas

markets with activity

States Served

of 50 states + DC

Avg Place Specialization

Sound

3/5

States with Loan Originations

Northeast5

MENHNJNYPA

Midwest3

ILMIOH

South14

ALARDCDEFLGALAMDNCSCTNTXVAWV

West3

AZCOOR

Top Metro Areas by Place Specialization Score

Baltimore, MDMetro

Volume 98Mix 48.76% of portfolio

73/100

Strong

Washington, DC, DC-MDMetro

Volume 11Mix 5.47% of portfolio

46/100

Sound

Top States by Place Specialization Score

MarylandState

Volume 125Mix 62.19% of portfolio

71/100

Strong

VirginiaState

Volume 12Mix 5.97% of portfolio

43/100

Sound

FloridaState

Volume 11Mix 5.47% of portfolio

38/100

Acceptable

How We Rank Lenders

Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.

Our Point System (Max 30 Points)

10/ 30 pts

Pricing

Rate and fee competitiveness (33%)

10/ 30 pts

Pull Through

Reliability in closing loans (33%)

10/ 30 pts

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 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.

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.