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 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% 12/16/24
    30 Year Conventional Refi 6.32% 12/16/24
    30 Year Cash-out Refi 6.53% 12/16/24
    30 Year FHA Purchase 7.66% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 6.11% 12/16/24
    15 Year Conventional Refi 6.05% 12/16/24
    15 Year Cash-out Refi 6.05% 12/16/24
    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

    1,879

    Origination Dollar Volume (All Markets)

    $452,825,000
    Show all (6) 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) 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%
    Texas Mortgage Lending's top markets include Dallas, Austin, Houston, Tyler, 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.

    Cooperative Teachers Credit Union
    Similarity Rank: 112
    KELLY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 567
    United Heritage Credit Union
    Similarity Rank: 657
    TEXELL Credit Union
    Similarity Rank: 871
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1480
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1824
    AAXY L.L.C.
    Similarity Rank: 1836
    Shea Mortgage Inc.
    Similarity Rank: 1848
    TEXAS TRUST
    Similarity Rank: 1885
    ASSOCIATED CREDIT UNION OF TEXAS
    Similarity Rank: 1895

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 909 $221,625,000 $243,812 $2,862 2.86%
    Cash Out Refi 596 $126,140,000 $211,644 $3,411 3.37%
    Home Purchase 374 $105,060,000 $280,909 $4,503 3.29%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,149 $305,445,000 $265,836 $3,720 3.17%
    15 Year 600 $121,990,000 $203,317 $2,792 2.96%
    20 Year 71 $16,705,000 $235,282 $3,140 3.17%
    10 Year 28 $3,540,000 $126,429 $2,029 3.33%
    Other 19 $4,135,000 $217,632 $3,078 3.11%
    5 Year 12 $1,010,000 $84,167 $812 2.98%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,469 $364,885,000 $248,390
    $1k-2k 309 $62,995,000 $203,867
    $2k-3k 69 $15,245,000 $220,942
    $3k-4k 19 $5,265,000 $277,105
    $4k-5k 9 $2,845,000 $316,111
    $5k+ 4 $1,590,000 $397,500

    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

    Loan Rate Originations Total Value Average Loan
    2.5-3% 713 $185,385,000 $260,007
    3-4% 702 $161,550,000 $230,128
    <2.5% 347 $87,415,000 $251,916
    4-5% 81 $12,645,000 $156,111
    5-6% 18 $3,000,000 $166,667
    6-7% 18 $2,830,000 $157,222

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 865 $241,395,000 $279,069 $3,679 2.98%
    $100k-200k 699 $107,065,000 $153,169 $2,790 3.16%
    $400k-600k 171 $78,845,000 $461,082 $4,565 2.97%
    $100,000 or less 125 $9,535,000 $76,280 $1,933 3.85%
    $600k-1MM 17 $12,405,000 $729,706 $6,536 3.58%
    $1MM+ 2 $3,580,000 $1,790,000 $11,980 2.69%

    2020 saw Texas Mortgage Lending place emphasis on $200k-400k loans with 865 originations, totaling $241,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 556 $138,130,000 $248,435 $3,389 3.05%
    $150k-250k 417 $124,265,000 $297,998 $3,566 3.12%
    $50k-75k 357 $62,555,000 $175,224 $3,088 3.12%
    $75k-100k 332 $69,550,000 $209,488 $3,217 3.04%
    $50k or less 113 $14,695,000 $130,044 $2,799 3.38%
    $250k+ 103 $43,405,000 $421,408 $4,322 3.24%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 472 $116,790,000 $247,436 $3,315 3.00%
    30-36% 381 $91,315,000 $239,672 $3,374 3.13%
    <20% 153 $36,595,000 $239,183 $3,181 2.87%
    44% 92 $20,700,000 $225,000 $3,398 3.36%
    43% 76 $17,030,000 $224,079 $3,409 3.17%
    39% 72 $17,530,000 $243,472 $3,465 3.19%
    41% 70 $17,490,000 $249,857 $3,708 3.11%
    42% 69 $16,455,000 $238,478 $3,554 3.33%
    40% 69 $17,705,000 $256,594 $3,556 3.11%
    38% 68 $17,920,000 $263,529 $3,405 3.13%
    37% 64 $14,960,000 $233,750 $3,250 3.16%
    36% 64 $15,830,000 $247,344 $3,103 3.07%
    45% 58 $13,350,000 $230,172 $3,256 3.23%
    46% 47 $11,125,000 $236,702 $3,646 3.27%
    48% 39 $8,475,000 $217,308 $3,239 3.06%
    47% 36 $7,500,000 $208,333 $3,335 3.23%
    49% 33 $8,075,000 $244,697 $2,978 3.33%
    50-60% 13 $3,015,000 $231,923 $3,463 3.18%
    >60% 3 $965,000 $321,667 $2,920 2.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,155 $282,965,000 $244,991 $3,344 3.13%
    Not provided 368 $84,250,000 $228,940 $3,331 3.12%
    Black 170 $37,860,000 $222,706 $3,455 3.11%
    Asian 137 $36,325,000 $265,146 $3,384 2.86%
    American Indian 24 $4,610,000 $192,083 $3,115 3.28%
    Asian Indian 14 $3,870,000 $276,429 $3,659 2.98%
    Filipino 4 $1,370,000 $342,500 $4,148 2.56%
    Other Asian 5 $1,225,000 $245,000 $3,384 2.74%
    Native Hawaiian or Islander 2 $350,000 $175,000 $1,754 3.44%

    Approval Rates

    Total approvals of all applications
    89.01%

    Texas Mortgage Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    50.51%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 141 $22,255,000 $157,837 $2,290 3.42%
    40-60% 458 $94,550,000 $206,441 $3,044 2.97%
    60-80% 802 $206,250,000 $257,170 $3,410 3.08%
    80-100% 439 $126,625,000 $288,440 $4,035 3.06%
    Over 100% 1 $315,000 $315,000 $15,720 3.63%
    Under 20% 38 $2,830,000 $74,474 $1,126 4.63%

    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%