Texas Mortgage Lending Rates, Fees & InfoAustin, TX
Tax ID: 82-0953703
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewTexas Mortgage Lending is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Texas Mortgage Lending has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Austin, Tyler, Houston, and Longview among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)
Texas Mortgage Lending has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texas Mortgage Lending 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.42%||11/30/23|
|30 Year Conventional Refi||6.32%||11/30/23|
|30 Year Cash-out Refi||6.53%||11/30/23|
|30 Year FHA Purchase||7.66%||11/30/23|
|30 Year FHA Refi||6.27%||11/30/23|
|15 Year Conventional Purchase||6.11%||11/30/23|
|15 Year Conventional Refi||6.05%||11/30/23|
|15 Year Cash-out Refi||6.05%||11/30/23|
|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.|
Texas Mortgage Lending Mortgage Calculator
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This is not an official calculator from Texas Mortgage Lending. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$282,535,000
Texas Mortgage Lending - 2022
Texas Mortgage Lending is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Texas Mortgage Lending's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.1%.
Relative Fees (Closing Costs)
Texas Mortgage Lending's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,280.
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.
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)||459||$143,315,000||$312,233||$6,019||4.58%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||278||$89,520,000||$322,014||$5,187||4.24%|
|TYLER, TX (FHA|USDA|VA)||46||$8,970,000||$195,000||$4,254||4.43%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||26||$7,780,000||$299,231||$6,212||4.80%|
|Outside of Metro Areas||25||$7,335,000||$293,400||$4,910||4.22%|
|LONGVIEW, TX (FHA|USDA|VA)||25||$6,605,000||$264,200||$5,334||4.09%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||22||$4,740,000||$215,455||$5,623||5.05%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||9||$2,435,000||$270,556||$5,220||4.75%|
|SHERMAN-DENISON, TX (FHA|USDA|VA)||6||$1,410,000||$235,000||$6,176||4.78%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||6||$1,400,000||$233,333||$4,038||4.56%|
|Fredericksburg, TX (FHA|USDA|VA)||1||$995,000||$995,000||$9,061||3.88%|
|Jacksonville, TX (FHA|USDA|VA)||3||$985,000||$328,333||$9,149||6.16%|
|Athens, TX (FHA|USDA|VA)||5||$825,000||$165,000||$4,427||4.62%|
|WACO, TX (FHA|USDA|VA)||3||$655,000||$218,333||$6,526||4.37%|
|BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)||2||$520,000||$260,000||$5,909||5.43%|
|Corsicana, TX (FHA|USDA|VA)||2||$490,000||$245,000||$4,878||4.12%|
|COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)||3||$425,000||$141,667||$4,524||4.25%|
|Granbury, TX (FHA|USDA|VA)||2||$400,000||$200,000||$4,006||4.37%|
|ABILENE, TX (FHA|USDA|VA)||2||$390,000||$195,000||$4,670||4.99%|
|EL PASO, TX (FHA|USDA|VA)||2||$360,000||$180,000||$3,253||4.25%|
|Paris, TX (FHA|USDA|VA)||1||$355,000||$355,000||$7,347||5.88%|
|CORPUS CHRISTI, TX (FHA|USDA|VA)||2||$310,000||$155,000||$4,196||6.81%|
|Andrews, TX (FHA|USDA|VA)||1||$305,000||$305,000||$4,878||3.75%|
|BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA)||1||$275,000||$275,000||$7,623||5.25%|
|Stephenville, TX (FHA|USDA|VA)||1||$265,000||$265,000||$5,426||5.25%|
|Rockport, TX (FHA|USDA|VA)||1||$265,000||$265,000||$7,969||5.88%|
|Gainesville, TX (FHA|USDA|VA)||1||$225,000||$225,000||$7,123||3.99%|
|Lufkin, TX (FHA|USDA|VA)||1||$215,000||$215,000||$3,798||5.88%|
|Bonham, TX (FHA|USDA|VA)||1||$195,000||$195,000||$7,475||5.38%|
|Palestine, TX (FHA|USDA|VA)||1||$195,000||$195,000||$5,475||5.99%|
|Mount Pleasant, TX (FHA|USDA|VA)||1||$185,000||$185,000||$9,543||6.13%|
|ODESSA, TX (FHA|USDA|VA)||1||$115,000||$115,000||$0||7.49%|
|Vernon, TX (FHA|USDA|VA)||1||$75,000||$75,000||$4,263||5.63%|
We use machine learning to identify the top lenders compared against Texas Mortgage Lending based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Texas Mortgage Lending's most frequently originated type of loan was Conventional, with 938 originations. Their 2nd most popular type was FHA, with 3 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||420||$99,610,000||$237,167||$4,712||4.32%|
For 2022, Texas Mortgage Lending's most frequently cited loan purpose was Cash Out Refi, with 420 originations. The 2nd most popular reason was Home Purchase, with 373 originations.
For 2022, Texas Mortgage Lending's most frequently cited loan duration was 30 Year, with 706 originations. The 2nd most popular length was 15 Year, with 166 originations.
Origination Fees/Closing Costs
Texas Mortgage Lending's average total fees were $6,280, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 358 originations.
During 2022, Texas Mortgage Lending's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 3-4%, with 296 originations.
2022 saw Texas Mortgage Lending place emphasis on $200k-400k loans with 409 originations, totaling $115,105,000 in origination value.
Texas Mortgage Lending lent most frequently to those with incomes in the $100k-150k range, with 268 originations. The second most popular income band? $75k-100k, with 178 originations.
Applicant Debt to Income Ratio
Texas Mortgage Lending lent most frequently to those with DTI ratios of 20-30%, with 158 originations. The next most common DTI ratio? 30-36%, with 152 originations.
Approval RatesTotal approvals of all applications
Texas Mortgage Lending has an average approval rate.
Pick RateApprovals leading to origination
Texas Mortgage Lending 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|