Tri Counties Bank Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (-0.04%)
Loan Related Closing Costslower than average (-$474)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.tcbk.com

On average, Tri Counties Bank’s interest rates were similar to those of other lenders (-0.04%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$474. Overall, combining interest rates and closing costs we estimate that Tri Counties Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Tri Counties Bank’s Rates by Area

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

  1. Redding, CA
  2. Sacramento, CA
  3. Altamont, OR
  4. Modesto, CA
  5. San Francisco, CA

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

Tri Counties 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, Tri Counties Bank originated Conforming, FHA, Jumbo and USDA mortgages for new home purchases. It also originated Conforming, FHA and Jumbo mortgages for 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 MortgagesConformingFHAJumboUSDA
Interest Rate Difference-0.05%-0.02%+0.01%+0.00%
Loan Related Closing Cost Difference-$410-$157+$6-$33
Cost Adjusted Rate Difference-0.07%-0.03%+0.01%-0.00%
Star Rating(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumbo
Interest Rate Difference-0.04%-0.01%+0.03%
Loan Related Closing Cost Difference-$557-$92+$19
Cost Adjusted Rate Difference-0.09%-0.01%+0.03%
Star Rating(4.0)(3.5)(3.5)

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

Other information about Tri Counties Bank:

Registered name: Tri Counties Bank
Registered city and state: CHICO, CA, 95973
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: TRICO BANCSHARES

* 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 Tri Counties 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.