Trustmark National Bank Mortgage Interest Rate and Cost Review

Is Trustmark National Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Trustmark National Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.13%)
Loan Related Closing Costslower than average (-$284)
National Rate and Closing Cost Rating(4.5)
Websitehttps://www.trustmark.com

On average, Trustmark National Bank’s interest rates were lower than those of other lenders (-0.13%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$284. Overall, combining interest rates and closing costs we estimate that Trustmark National Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

Trustmark National Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Trustmark National Bank was most active in:

  1. Brandon, MS
  2. Mobile, AL
  3. Montgomery, AL
  4. Birmingham, AL
  5. Panama City Beach, FL

Furthermore, Trustmark National Bank is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Brandon, MS, for VA mortgages
  2. Mobile, AL, overall
  3. Montgomery, AL, overall
  4. Birmingham, AL, for FHA mortgages
  5. Panama City Beach, FL, overall
  6. Huntsville, AL, for FHA mortgages
  7. Hattiesburg, MS, overall
  8. Florence, AL, overall
  9. Columbia, SC, for FHA mortgages
  10. Meridian, MS, overall
  11. Oxford, MS, overall
  12. Starkville, MS, for Jumbo, and VA mortgages
  13. Vicksburg, MS, overall
  14. Columbus, GA, overall
  15. Tupelo, MS, overall

You can click through to check out Trustmark National Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Trustmark National Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Trustmark National Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.11%-0.18%+0.02%-0.07%-0.12%
Loan Related Closing Cost Difference-$153-$403-$21-$210-$233
Cost Adjusted Rate Difference-0.13%-0.22%+0.01%-0.09%-0.14%
Star Rating(4.0)(4.5)(3.5)(4.0)(4.0)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.12%-0.08%+0.00%+0.00%-0.09%
Loan Related Closing Cost Difference-$424-$682-$7+$0-$405
Cost Adjusted Rate Difference-0.16%-0.14%+0.00%+0.00%-0.12%
Star Rating(4.5)(4.0)(3.5)(3.5)(4.0)

As a summary, Trustmark National Bank is cheap for Conforming, FHA, USDA and VA purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Trustmark National Bank is cheap for Conforming, FHA and VA mortgage refinance. It is similar to other lenders for Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Trustmark National Bank:

Registered name: Trustmark National Bank
Registered city and state: Jackson, MS, 39205
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: TRUSTMARK CORPORATION

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Trustmark National Bank’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.