Town Square Mortgage & Investments Rates, Fees & Info

Dallas, TX

LEI: 254900AX110CHF6FVV28

Tax ID: 58-2307082

2.9 stars - out of 5 stars, based on 65 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Town Square Mortgage & Investments is a smaller mortgage company specializing in loans. Town Square Mortgage & Investments has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, Houston, Eagle Pass, El Paso, and Sherman among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Town Square Mortgage & Investments has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Town Square Mortgage & Investments is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.39% 11/26/22
    30 Year Conventional Refi 6.90% 11/26/22
    30 Year Cash-out Refi 7.12% 11/26/22
    30 Year FHA Purchase 8.13% 11/26/22
    30 Year FHA Refi 7.65% 11/26/22
    30 Year VA Purchase 6.95% 11/26/22
    30 Year VA Refi 6.52% 11/26/22
    30 Year USDA Purchase 7.04% 11/26/22
    15 Year Conventional Purchase 6.43% 11/26/22
    15 Year Conventional Refi 6.38% 11/26/22
    15 Year Cash-out Refi 6.38% 11/26/22
    15 Year FHA Purchase 7.99% 11/26/22
    15 Year FHA Refi 7.30% 11/26/22
    15 Year VA Purchase 5.90% 11/26/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    4,222

    Origination Dollar Volume (All Markets)

    $873,210,000
    Show all (9) awards

    Relative Rate

    Town Square Mortgage & Investments's average 30 year fixed mortgage rate was 3.4%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.25%.

    Relative Fees (Closing Costs)

    Town Square Mortgage & Investments's average total fees/closing costs for a 30 year fixed rate mortgage were $6,102.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2,587 $584,095,000 $225,781 $6,245 3.36%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 328 $64,960,000 $198,049 $6,218 3.52%
    Eagle Pass, TX (FHA|USDA|VA) 276 $39,400,000 $142,754 $4,469 3.24%
    EL PASO, TX (FHA|USDA|VA) 167 $26,055,000 $156,018 $5,576 3.27%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 95 $21,355,000 $224,789 $5,481 3.30%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 115 $19,245,000 $167,348 $5,094 3.41%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 82 $18,770,000 $228,902 $6,614 3.28%
    Del Rio, TX (FHA|USDA|VA) 171 $18,575,000 $108,626 $5,940 3.51%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 55 $14,715,000 $267,545 $6,748 3.16%
    Outside of Metro Areas 37 $7,775,000 $210,135 $5,899 3.23%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 38 $7,120,000 $187,368 $6,346 3.41%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 30 $6,790,000 $226,333 $7,227 3.13%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 51 $6,565,000 $128,725 $5,066 3.43%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 19 $4,995,000 $262,895 $5,260 3.39%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 23 $4,695,000 $204,130 $6,595 3.19%
    Uvalde, TX (FHA|USDA|VA) 31 $3,265,000 $105,323 $4,889 3.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $2,170,000 $271,250 $6,365 3.06%
    LAS CRUCES, NM (FHA|USDA|VA) 8 $1,630,000 $203,750 $4,673 3.17%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $1,595,000 $227,857 $5,228 3.45%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 10 $1,490,000 $149,000 $4,756 3.32%
    Athens, TX (FHA|USDA|VA) 8 $1,450,000 $181,250 $4,939 3.02%
    Jacksonville, TX (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $11,370 3.50%
    Gainesville, TX (FHA|USDA|VA) 7 $1,235,000 $176,429 $6,774 3.11%
    Corsicana, TX (FHA|USDA|VA) 9 $1,205,000 $133,889 $7,218 3.78%
    Bonham, TX (FHA|USDA|VA) 4 $1,090,000 $272,500 $4,961 3.25%
    WACO, TX (FHA|USDA|VA) 4 $980,000 $245,000 $5,082 3.06%
    TYLER, TX (FHA|USDA|VA) 3 $835,000 $278,333 $3,131 3.25%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $815,000 $271,667 $4,056 3.25%
    Granbury, TX (FHA|USDA|VA) 5 $755,000 $151,000 $7,018 3.33%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $695,000 $231,667 $7,969 2.83%
    OCALA, FL (FHA|USDA|VA) 4 $670,000 $167,500 $5,540 3.06%
    TULSA, OK (FHA|USDA|VA) 3 $655,000 $218,333 $4,519 3.63%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $650,000 $162,500 $6,160 3.06%
    Rio Grande City-Roma, TX (FHA|USDA|VA) 4 $640,000 $160,000 $4,328 3.41%
    MIDLAND, TX (FHA|USDA|VA) 2 $610,000 $305,000 $6,057 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $5,442 3.19%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $430,000 $215,000 $3,416 3.31%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $11,723 3.25%
    Fredericksburg, TX (FHA|USDA|VA) 1 $375,000 $375,000 $4,970 3.88%
    LONGVIEW, TX (FHA|USDA|VA) 2 $360,000 $180,000 $3,377 3.06%
    Paris, TX (FHA|USDA|VA) 1 $315,000 $315,000 $4,691 3.88%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $260,000 $130,000 $3,824 3.14%
    Durant, OK (FHA|USDA|VA) 1 $245,000 $245,000 $4,230 3.50%
    LAREDO, TX (FHA|USDA|VA) 1 $225,000 $225,000 $9,968 3.88%
    Huntsville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $9,755 3.25%
    Mineral Wells, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,749 3.25%
    Andrews, TX (FHA|USDA|VA) 1 $195,000 $195,000 $3,023 3.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $5,227 2.88%
    Arcadia, FL (FHA|USDA|VA) 1 $155,000 $155,000 $5,562 2.88%
    Ada, OK (FHA|USDA|VA) 1 $115,000 $115,000 $4,399 3.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $5,350 4.38%
    Town Square Mortgage & Investments's top markets include Dallas, Houston, Eagle Pass, El Paso, and Sherman among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Town Square Mortgage & Investments based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GECU
    Similarity Rank: 124
    Citizens Bank of Las Cruces
    Similarity Rank: 208
    EVOLVE
    Similarity Rank: 272
    AMOCO
    Similarity Rank: 405
    WEOKIE
    Similarity Rank: 432
    EL PASO AREA TEACHERS
    Similarity Rank: 510
    TTCU Federal Credit Union
    Similarity Rank: 518
    TRUE SKY
    Similarity Rank: 550
    Lone Star National Bank
    Similarity Rank: 616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,178 $545,640,000 $250,523 $4,821 3.34%
    FHA 1,885 $290,465,000 $154,093 $7,393 3.40%
    USDA 80 $15,220,000 $190,250 $4,209 2.88%
    VA 79 $21,885,000 $277,025 $7,302 3.12%

    For 2021, Town Square Mortgage & Investments's most frequently originated type of loan was Conventional, with 2,178 originations. Their 2nd most popular type was FHA, with 1,885 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,536 $702,620,000 $198,705 $6,231 3.41%
    Refi 364 $90,960,000 $249,890 $4,424 2.93%
    Cash Out Refi 322 $79,630,000 $247,298 $5,406 3.28%

    For 2021, Town Square Mortgage & Investments's most frequently cited loan purpose was Home Purchase, with 3,536 originations. The 2nd most popular reason was Refi, with 364 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,943 $810,535,000 $205,563 $6,102 3.40%
    15 Year 191 $41,855,000 $219,136 $4,840 2.73%
    20 Year 60 $14,410,000 $240,167 $4,629 2.96%
    Other 17 $4,185,000 $246,176 $4,193 2.94%
    10 Year 11 $2,225,000 $202,273 $4,211 2.36%

    For 2021, Town Square Mortgage & Investments's most frequently cited loan duration was 30 Year, with 3,943 originations. The 2nd most popular length was 15 Year, with 191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,383 $348,195,000 $251,768
    $<1k 1,185 $241,495,000 $203,793
    $2k-3k 1,134 $168,110,000 $148,245
    $3k-4k 277 $51,655,000 $186,480
    $4k-5k 130 $30,630,000 $235,615
    $5k+ 113 $33,125,000 $293,142

    Town Square Mortgage & Investments's average total fees were $6,102, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,383 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,742 $512,470,000 $186,896
    2.5-3% 1,098 $279,700,000 $254,736
    <2.5% 175 $47,395,000 $270,829
    4-5% 138 $19,530,000 $141,522
    7-8% 33 $6,415,000 $194,394
    Over 8% 29 $6,175,000 $212,931
    6-7% 7 $1,525,000 $217,857

    During 2021, Town Square Mortgage & Investments's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 2,742 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,926 $512,150,000 $265,914 $6,816 3.31%
    $100k-200k 1,262 $202,670,000 $160,594 $5,391 3.37%
    $100,000 or less 744 $13,220,000 $17,769 $4,884 3.58%
    $400k-600k 269 $127,255,000 $473,067 $5,943 3.00%
    $600k-1MM 17 $13,125,000 $772,059 $9,862 3.11%
    $1MM+ 4 $4,790,000 $1,197,500 $13,135 3.09%

    2021 saw Town Square Mortgage & Investments place emphasis on $200k-400k loans with 1,926 originations, totaling $512,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,503 $252,595,000 $168,061 $6,259 3.45%
    $50k or less 1,039 $140,885,000 $135,597 $5,732 3.33%
    $75k-100k 692 $152,330,000 $220,130 $6,259 3.36%
    $100k-150k 557 $163,565,000 $293,654 $5,786 3.28%
    $150k-250k 317 $115,005,000 $362,792 $5,517 3.17%
    $250k+ 112 $48,490,000 $432,946 $6,319 3.31%

    Town Square Mortgage & Investments lent most frequently to those with incomes in the $50k-75k range, with 1,503 originations. The second most popular income band? $50k or less, with 1,039 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 673 $110,245,000 $163,811 $4,943 3.40%
    30-36% 607 $132,105,000 $217,636 $5,406 3.34%
    <20% 337 $36,385,000 $107,967 $5,315 3.62%
    50-60% 292 $68,900,000 $235,959 $8,636 3.21%
    49% 217 $48,445,000 $223,249 $6,607 3.29%
    44% 208 $46,560,000 $223,846 $5,964 3.28%
    41% 186 $41,770,000 $224,570 $5,916 3.32%
    43% 177 $41,295,000 $233,305 $6,406 3.35%
    42% 174 $37,990,000 $218,333 $5,901 3.27%
    48% 164 $39,940,000 $243,537 $6,960 3.34%
    40% 163 $37,265,000 $228,620 $6,003 3.33%
    45% 161 $36,035,000 $223,820 $6,292 3.29%
    39% 156 $37,470,000 $240,192 $6,168 3.35%
    47% 150 $30,800,000 $205,333 $6,271 3.28%
    46% 146 $32,670,000 $223,767 $6,655 3.33%
    38% 137 $29,795,000 $217,482 $5,666 3.37%
    37% 135 $31,825,000 $235,741 $6,181 3.48%
    36% 120 $29,390,000 $244,917 $6,219 3.40%
    >60% 17 $3,985,000 $234,412 $8,613 3.11%

    Town Square Mortgage & Investments lent most frequently to those with DTI ratios of 20-30%, with 673 originations. The next most common DTI ratio? 30-36%, with 607 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,503 $711,355,000 $203,070 $5,992 3.36%
    Not provided 339 $73,785,000 $217,655 $6,506 3.41%
    Black 229 $45,415,000 $198,319 $6,053 3.36%
    Asian 102 $31,180,000 $305,686 $5,311 3.02%
    American Indian 25 $6,645,000 $265,800 $4,614 3.37%
    Native Hawaiian or Islander 16 $2,600,000 $162,500 $5,690 3.43%
    Asian Indian 3 $1,045,000 $348,333 $7,516 2.83%
    Other Asian 2 $730,000 $365,000 $4,027 3.06%
    Other Pacific Islander 2 $360,000 $180,000 $7,025 3.31%
    Guamanian 1 $95,000 $95,000 $5,064 4.13%

    Approval Rates

    Total approvals of all applications
    93.29%

    Town Square Mortgage & Investments has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.73%

    Town Square Mortgage & Investments has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,222 $873,210,000 $206,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,222 $873,210,000 $206,824

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $9,015,000 $176,765 $4,241 3.12%
    40-60% 202 $42,700,000 $211,386 $4,486 2.98%
    60-80% 754 $202,500,000 $268,568 $5,143 3.37%
    80-100% 2,533 $606,495,000 $239,437 $6,642 3.33%
    Over 100% 27 $6,845,000 $253,519 $10,373 3.21%
    Under 20% 652 $5,180,000 $7,945 $5,008 3.59%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Town Square Mortgage & Investments, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%