Texas Mortgage Lending Rates, Fees & Info
Austin, TXLEI: 254900ZW2DR74NU0ZY74
Tax ID: 82-0953703
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Mortgage Data
Review & Overview
Texas Mortgage Lending is a smaller mortgage company specializing in Refi, 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, Houston, Tyler, and San Antonio 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 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% | 5/4/24 |
| 30 Year Conventional Refi | 6.32% | 5/4/24 |
| 30 Year Cash-out Refi | 6.53% | 5/4/24 |
| 30 Year FHA Purchase | 7.66% | 5/4/24 |
| 30 Year FHA Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 6.11% | 5/4/24 |
| 15 Year Conventional Refi | 6.05% | 5/4/24 |
| 15 Year Cash-out Refi | 6.05% | 5/4/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,879Origination Dollar Volume (All Markets)
$452,825,000Awards
Texas Mortgage Lending - 2020
Texas Mortgage Lending is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 925 | $221,245,000 | $239,184 | $3,513 | 3.10% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 688 | $174,260,000 | $253,285 | $3,143 | 3.07% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 90 | $21,890,000 | $243,222 | $3,391 | 3.18% |
| TYLER, TX (FHA|USDA|VA) | 57 | $11,155,000 | $195,702 | $2,973 | 3.14% |
| Outside of Metro Areas | 42 | $9,090,000 | $216,429 | $3,669 | 3.31% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 26 | $4,440,000 | $170,769 | $3,006 | 3.24% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 10 | $1,960,000 | $196,000 | $2,925 | 3.42% |
| LONGVIEW, TX (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $5,252 | 2.96% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $4,187 | 3.84% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $3,009 | 2.89% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $5,778 | 3.63% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,536 | 3.92% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,308 | 2.93% |
| WACO, TX (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $2,499 | 3.33% |
| Granbury, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,702 | 3.75% |
| Palestine, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,500 | 2.50% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,478 | 2.50% |
| Rockport, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,341 | 2.50% |
| Athens, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,550 | 2.63% |
| Bonham, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,648 | 2.75% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,630 | 2.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,138 | 2.95% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,739 | 2.25% |
| Paris, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,681 | 2.63% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,591 | 2.25% |
| Bay City, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,657 | 2.75% |
| Brenham, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,260 | 2.38% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,637 | 2.85% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,426 | 2.88% |
| Beeville, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,087 | 4.25% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,618 | 3.88% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.88% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,794 | 3.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,876 | $451,840,000 | $240,853 | $3,342 | 3.11% |
| VA | 2 | $650,000 | $325,000 | $10,794 | 3.50% |
| FHA | 1 | $335,000 | $335,000 | $11,681 | 3.38% |
For 2020, Texas Mortgage Lending's most frequently originated type of loan was Conventional, with 1,876 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2020, Texas Mortgage Lending's most frequently cited loan purpose was Refi, with 909 originations. The 2nd most popular reason was Cash Out Refi, with 596 originations.
Loan Duration/Length
For 2020, Texas Mortgage Lending's most frequently cited loan duration was 30 Year, with 1,149 originations. The 2nd most popular length was 15 Year, with 600 originations.
Origination Fees/Closing Costs
Texas Mortgage Lending's average total fees were $3,720, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,469 originations.
Interest Rates
During 2020, Texas Mortgage Lending's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 713 originations.
Loan Sizing
2020 saw Texas Mortgage Lending place emphasis on $200k-400k loans with 865 originations, totaling $241,395,000 in origination value.
Applicant Income
Texas Mortgage Lending lent most frequently to those with incomes in the $100k-150k range, with 556 originations. The second most popular income band? $150k-250k, with 417 originations.
Applicant Debt to Income Ratio
Texas Mortgage Lending lent most frequently to those with DTI ratios of 20-30%, with 472 originations. The next most common DTI ratio? 30-36%, with 381 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.01%
Texas Mortgage Lending has an average approval rate.
Pick Rate
Approvals leading to origination50.51%
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 | 1,879 | $452,825,000 | $240,993 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,879 | $452,825,000 | $240,993 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| The J. G. Wentworth Company | FHA mortgage | Trouble during payment process | 1 | 50.0% |
| The J. G. Wentworth Company | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 50.0% |