Texas Mortgage Lending Rates, Fees & Info

Austin, TX

LEI: 254900ZW2DR74NU0ZY74

Tax ID: 82-0953703

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Texas Mortgage Lending is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Texas Mortgage Lending has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Austin, Tyler, Houston, and San Antonio among others. We have data for 21 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 a low 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 6.42% 4/21/24
    30 Year Conventional Refi 6.32% 4/21/24
    30 Year Cash-out Refi 6.53% 4/21/24
    30 Year FHA Purchase 7.66% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 6.11% 4/21/24
    15 Year Conventional Refi 6.05% 4/21/24
    15 Year Cash-out Refi 6.05% 4/21/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Texas Mortgage Lending. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    670

    Origination Dollar Volume (All Markets)

    $87,320,000

    Awards

    Texas Mortgage Lending 30 Year Conventional Loans silver Texas Mortgage Lending 30 Year Conventional Loans silver
    Show all (2) awards

    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) 334 $42,210,000 $126,377 $3,082 4.65%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 255 $36,185,000 $141,902 $2,358 4.61%
    TYLER, TX (FHA|USDA|VA) 21 $2,495,000 $118,810 $2,158 4.25%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 23 $2,175,000 $94,565 $2,228 4.52%
    Outside of Metro Areas 10 $1,360,000 $136,000 $2,950 4.60%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 7 $915,000 $130,714 $3,106 4.44%
    MIDLAND, TX (FHA|USDA|VA) 2 $310,000 $155,000 $4,021 4.88%
    Jacksonville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,708 4.75%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,005 4.75%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $170,000 $85,000 $3,409 4.44%
    LUBBOCK, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,348 4.00%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $130,000 $65,000 $3,363 4.68%
    Lufkin, TX (FHA|USDA|VA) 1 $125,000 $125,000 $2,663 4.63%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,959 4.88%
    LONGVIEW, TX (FHA|USDA|VA) 2 $110,000 $55,000 $1,514 3.81%
    VICTORIA, TX (FHA|USDA|VA) 2 $100,000 $50,000 $524 4.13%
    WACO, TX (FHA|USDA|VA) 1 $95,000 $95,000 $3,506 4.88%
    Brownwood, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.75%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $45,000 $45,000 $1,186 4.49%
    ABILENE, TX (FHA|USDA|VA) 1 $35,000 $35,000 $159 2.75%
    Palestine, TX (FHA|USDA|VA) 1 $35,000 $35,000 $560 3.99%
    Texas Mortgage Lending's top markets include Dallas, Austin, Tyler, Houston, and San Antonio among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    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.

    AB COMMUNITY INVESTMENT COMPANY
    Similarity Rank: 111
    NEIGHBORHOOD
    Similarity Rank: 200
    KELLY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 224
    CORNERSTONE MORTGAGE PROVIDERS
    Similarity Rank: 291
    Cooperative Teachers Credit Union
    Similarity Rank: 333
    Texas National Bank of Jacksonville
    Similarity Rank: 390
    TEXANS
    Similarity Rank: 416
    Priority Bank
    Similarity Rank: 456
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 472
    AUSTIN TELCO Federal Credit Union
    Similarity Rank: 481

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 580 $81,540,000 $140,586 $2,730 4.63%
    HELOC 90 $5,780,000 $64,222 n/a 4.45%

    For 2018, Texas Mortgage Lending's most frequently originated type of loan was Conventional, with 580 originations. Their 2nd most popular type was HELOC, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 318 $33,730,000 $106,069 $2,322 4.61%
    Refi 222 $26,620,000 $119,910 $2,337 4.43%
    Home Purchase 129 $26,905,000 $208,566 $4,131 4.90%
    Home Improvement 1 $65,000 $65,000 $617 3.99%

    For 2018, Texas Mortgage Lending's most frequently cited loan purpose was Cash Out Refi, with 318 originations. The 2nd most popular reason was Refi, with 222 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 263 $26,455,000 $100,589 $1,822 4.51%
    30 Year 235 $47,215,000 $200,915 $4,088 4.88%
    20 Year 74 $7,890,000 $106,622 $2,376 5.02%
    10 Year 66 $3,780,000 $57,273 $1,172 4.20%
    5 Year 31 $1,665,000 $53,710 $489 3.18%
    Other 1 $315,000 $315,000 $4,479 5.00%

    For 2018, Texas Mortgage Lending's most frequently cited loan duration was 15 Year, with 263 originations. The 2nd most popular length was 30 Year, with 235 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 414 $52,590,000 $127,029
    $1k-2k 130 $21,170,000 $162,846
    $2k-3k 20 $4,510,000 $225,500
    $3k-4k 8 $1,880,000 $235,000
    $4k-5k 2 $610,000 $305,000
    $5k+ 2 $620,000 $310,000

    Texas Mortgage Lending's average total fees were $4,088, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 414 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 418 $58,320,000 $139,522
    3-4% 115 $10,745,000 $93,435
    5-6% 113 $15,955,000 $141,195
    2.5-3% 11 $575,000 $52,273
    6-7% 11 $1,575,000 $143,182
    7-8% 2 $150,000 $75,000

    During 2018, Texas Mortgage Lending's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 418 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 308 $18,190,000 $59,058 $1,283 4.50%
    $100k-200k 244 $35,680,000 $146,230 $3,111 4.65%
    $200k-400k 109 $28,545,000 $261,881 $4,493 4.83%
    $400k-600k 7 $3,235,000 $462,143 $5,946 4.52%
    $600k-1MM 2 $1,670,000 $835,000 $8,077 4.75%

    2018 saw Texas Mortgage Lending place emphasis on $100,000 or less loans with 308 originations, totaling $18,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 181 $25,775,000 $142,403 $2,870 4.62%
    $50k-75k 168 $18,600,000 $110,714 $2,690 4.63%
    $75k-100k 137 $16,675,000 $121,715 $2,531 4.48%
    $150k-250k 77 $12,375,000 $160,714 $2,990 4.52%
    $50k or less 77 $7,345,000 $95,390 $2,519 4.67%
    $250k+ 25 $6,065,000 $242,600 $3,176 5.10%

    Texas Mortgage Lending lent most frequently to those with incomes in the $100k-150k range, with 181 originations. The second most popular income band? $50k-75k, with 168 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 143 $19,615,000 $137,168 $2,877 4.61%
    20-30% 120 $15,010,000 $125,083 $2,538 4.49%
    49% 41 $5,305,000 $129,390 $2,412 4.67%
    41% 36 $4,810,000 $133,611 $2,802 4.61%
    47% 32 $4,600,000 $143,750 $2,924 4.67%
    46% 31 $4,425,000 $142,742 $2,957 4.78%
    48% 29 $3,325,000 $114,655 $2,377 4.81%
    <20% 29 $3,925,000 $135,345 $2,841 4.45%
    45% 29 $3,075,000 $106,034 $2,214 4.70%
    44% 26 $2,570,000 $98,846 $2,818 4.74%
    40% 25 $4,045,000 $161,800 $3,156 4.66%
    39% 22 $3,120,000 $141,818 $2,821 4.44%
    36% 21 $2,705,000 $128,810 $2,736 4.50%
    37% 20 $2,720,000 $136,000 $2,725 4.59%
    43% 19 $2,215,000 $116,579 $2,932 4.53%
    42% 18 $2,510,000 $139,444 $3,288 4.69%
    38% 15 $1,825,000 $121,667 $2,733 4.71%
    >60% 7 $685,000 $97,857 $1,457 4.80%
    50-60% 6 $550,000 $91,667 $2,416 4.56%

    Texas Mortgage Lending lent most frequently to those with DTI ratios of 30-36%, with 143 originations. The next most common DTI ratio? 20-30%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 473 $61,545,000 $130,116 $2,666 4.61%
    Black 84 $9,690,000 $115,357 $2,837 4.65%
    Not provided 67 $9,185,000 $137,090 $2,852 4.58%
    Asian 33 $4,985,000 $151,061 $2,970 4.46%
    American Indian 10 $1,340,000 $134,000 $3,096 4.78%
    Asian Indian 2 $540,000 $270,000 $4,470 4.63%
    Native Hawaiian or Islander 1 $35,000 $35,000 $450 3.99%

    Approval Rates

    Total approvals of all applications
    86.53%

    Texas Mortgage Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    42.69%

    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
    NA 670 $87,320,000 $130,328

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 670 $87,320,000 $130,328

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 154 $13,210,000 $85,779 $1,202 4.53%
    40-60% 105 $14,425,000 $137,381 $2,950 4.57%
    60-80% 175 $33,255,000 $190,029 $3,809 4.77%
    80-100% 91 $18,955,000 $208,297 $4,253 4.75%
    Under 20% 145 $7,475,000 $51,552 $747 4.43%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    The J. G. Wentworth Company Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 7.5%
    The J. G. Wentworth Company Conventional home mortgage Closing on a mortgage 7 17.5%
    The J. G. Wentworth Company Conventional home mortgage Struggling to pay mortgage 1 2.5%
    The J. G. Wentworth Company Conventional home mortgage Trouble during payment process 11 27.5%
    The J. G. Wentworth Company FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 10.0%
    The J. G. Wentworth Company FHA mortgage Closing on a mortgage 1 2.5%
    The J. G. Wentworth Company FHA mortgage Struggling to pay mortgage 1 2.5%
    The J. G. Wentworth Company FHA mortgage Trouble during payment process 6 15.0%
    The J. G. Wentworth Company Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.5%
    The J. G. Wentworth Company Other type of mortgage Closing on a mortgage 1 2.5%
    The J. G. Wentworth Company VA mortgage Closing on a mortgage 3 7.5%
    The J. G. Wentworth Company VA mortgage Trouble during payment process 1 2.5%