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
  • 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. Their top markets by origination volume include: Dallas, Austin, Houston, Tyler, and San Antonio among others. We have data for 36 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

    1,828

    Origination Dollar Volume (All Markets)

    $459,910,000
    Show all (7) 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) 873 $210,455,000 $241,071 $3,609 2.93%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 665 $182,115,000 $273,857 $3,578 2.92%
    Outside of Metro Areas 55 $15,575,000 $283,182 $4,161 3.04%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 53 $14,035,000 $264,811 $4,136 2.95%
    TYLER, TX (FHA|USDA|VA) 62 $11,730,000 $189,194 $3,112 2.98%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 28 $6,460,000 $230,714 $3,805 3.19%
    LONGVIEW, TX (FHA|USDA|VA) 10 $4,500,000 $450,000 $4,564 2.81%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 18 $3,120,000 $173,333 $3,122 3.13%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 13 $2,395,000 $184,231 $3,851 3.36%
    Athens, TX (FHA|USDA|VA) 4 $990,000 $247,500 $2,536 3.12%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 4 $830,000 $207,500 $3,796 3.12%
    LUBBOCK, TX (FHA|USDA|VA) 4 $760,000 $190,000 $3,355 3.13%
    Granbury, TX (FHA|USDA|VA) 3 $665,000 $221,667 $2,455 2.62%
    Jacksonville, TX (FHA|USDA|VA) 3 $625,000 $208,333 $4,843 2.92%
    Kerrville, TX (FHA|USDA|VA) 4 $620,000 $155,000 $3,023 2.66%
    EL PASO, TX (FHA|USDA|VA) 3 $505,000 $168,333 $3,200 3.12%
    WACO, TX (FHA|USDA|VA) 4 $500,000 $125,000 $2,748 3.34%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $470,000 $235,000 $3,976 2.75%
    Fredericksburg, TX (FHA|USDA|VA) 1 $445,000 $445,000 $3,439 3.00%
    MIDLAND, TX (FHA|USDA|VA) 1 $315,000 $315,000 $4,873 3.38%
    Corsicana, TX (FHA|USDA|VA) 2 $310,000 $155,000 $3,259 2.53%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,485 2.88%
    Palestine, TX (FHA|USDA|VA) 2 $270,000 $135,000 $1,448 2.69%
    Brenham, TX (FHA|USDA|VA) 1 $245,000 $245,000 $5,183 3.00%
    VICTORIA, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,053 3.25%
    ODESSA, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,707 2.75%
    Bay City, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,257 2.63%
    ABILENE, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,301 3.75%
    LAREDO, TX (FHA|USDA|VA) 1 $145,000 $145,000 $2,625 3.38%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,220 3.25%
    Mineral Wells, TX (FHA|USDA|VA) 1 $125,000 $125,000 $2,935 4.13%
    Rio Grande City-Roma, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,167 2.75%
    Mount Pleasant, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,493 3.13%
    Brownwood, TX (FHA|USDA|VA) 1 $95,000 $95,000 $3,084 3.43%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $95,000 $95,000 $906 3.00%
    Rockport, TX (FHA|USDA|VA) 1 $85,000 $85,000 $3,203 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.

    AMOCO
    Similarity Rank: 405
    United Heritage Credit Union
    Similarity Rank: 636
    Generations Community Federal Credit Union
    Similarity Rank: 704
    KELLY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 832
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 1320
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1512
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1968
    TEXAS BAY
    Similarity Rank: 2076
    DATCU
    Similarity Rank: 2220
    UNION SQUARE
    Similarity Rank: 2220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,828 $459,910,000 $251,592 $3,608 2.95%

    For 2021, Texas Mortgage Lending's most frequently originated type of loan was Conventional, with 1,828 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 790 $182,220,000 $230,658 $2,883 2.79%
    Cash Out Refi 690 $168,890,000 $244,768 $3,794 3.06%
    Home Purchase 348 $108,800,000 $312,644 $4,886 3.08%

    For 2021, Texas Mortgage Lending's most frequently cited loan purpose was Refi, with 790 originations. The 2nd most popular reason was Cash Out Refi, with 690 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,160 $327,070,000 $281,957 $3,972 3.09%
    15 Year 507 $99,555,000 $196,361 $2,927 2.65%
    20 Year 97 $23,055,000 $237,680 $3,601 2.93%
    10 Year 38 $5,710,000 $150,263 $2,393 2.60%
    Other 16 $4,010,000 $250,625 $3,539 3.05%
    5 Year 10 $510,000 $51,000 $648 2.68%

    For 2021, Texas Mortgage Lending's most frequently cited loan duration was 30 Year, with 1,160 originations. The 2nd most popular length was 15 Year, with 507 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,321 $343,695,000 $260,178
    $1k-2k 347 $73,405,000 $211,542
    $2k-3k 97 $23,595,000 $243,247
    $3k-4k 42 $12,320,000 $293,333
    $5k+ 11 $4,085,000 $371,364
    $4k-5k 10 $2,810,000 $281,000

    Texas Mortgage Lending's average total fees were $3,972, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,321 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 891 $234,485,000 $263,171
    3-4% 594 $151,170,000 $254,495
    <2.5% 310 $68,710,000 $221,645
    4-5% 25 $4,495,000 $179,800
    6-7% 4 $710,000 $177,500
    5-6% 3 $305,000 $101,667
    7-8% 1 $35,000 $35,000

    During 2021, Texas Mortgage Lending's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 891 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 816 $226,140,000 $277,132 $3,886 2.92%
    $100k-200k 660 $100,220,000 $151,848 $2,857 2.94%
    $400k-600k 182 $86,870,000 $477,308 $5,256 2.96%
    $100,000 or less 125 $10,335,000 $82,680 $2,200 3.10%
    $600k-1MM 39 $28,765,000 $737,564 $6,556 3.10%
    $1MM+ 6 $7,580,000 $1,263,333 $8,236 2.88%

    2021 saw Texas Mortgage Lending place emphasis on $200k-400k loans with 816 originations, totaling $226,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 513 $137,345,000 $267,729 $3,699 2.90%
    $50k-75k 376 $66,250,000 $176,197 $3,129 2.96%
    $75k-100k 355 $77,885,000 $219,394 $3,366 2.93%
    $150k-250k 334 $110,760,000 $331,617 $4,200 2.98%
    $50k or less 138 $19,000,000 $137,681 $2,949 3.04%
    $250k+ 112 $48,670,000 $434,554 $4,612 2.99%

    Texas Mortgage Lending lent most frequently to those with incomes in the $100k-150k range, with 513 originations. The second most popular income band? $50k-75k, with 376 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 420 $100,620,000 $239,571 $3,368 2.86%
    30-36% 343 $86,165,000 $251,210 $3,625 2.93%
    <20% 122 $29,480,000 $241,639 $3,438 2.79%
    44% 96 $26,330,000 $274,271 $3,891 3.00%
    43% 86 $22,290,000 $259,186 $4,034 3.10%
    42% 80 $22,210,000 $277,625 $4,061 3.05%
    41% 78 $23,200,000 $297,436 $3,709 3.01%
    40% 71 $17,935,000 $252,606 $3,661 3.03%
    39% 71 $16,175,000 $227,817 $3,414 2.89%
    37% 64 $16,930,000 $264,531 $3,790 2.96%
    45% 63 $16,375,000 $259,921 $3,805 3.09%
    36% 62 $14,980,000 $241,613 $3,546 3.05%
    38% 61 $16,305,000 $267,295 $3,628 2.98%
    46% 56 $13,940,000 $248,929 $3,552 3.08%
    47% 51 $12,555,000 $246,176 $3,460 2.94%
    49% 46 $10,470,000 $227,609 $3,688 2.97%
    48% 44 $9,400,000 $213,636 $3,464 2.97%
    50-60% 13 $3,605,000 $277,308 $3,925 2.90%
    >60% 1 $945,000 $945,000 $8,996 2.99%

    Texas Mortgage Lending lent most frequently to those with DTI ratios of 20-30%, with 420 originations. The next most common DTI ratio? 30-36%, with 343 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,067 $278,205,000 $260,736 $3,645 2.95%
    Not provided 420 $98,790,000 $235,214 $3,528 2.94%
    Black 202 $44,970,000 $222,624 $3,442 2.97%
    Asian 99 $27,325,000 $276,010 $3,794 2.88%
    American Indian 27 $6,385,000 $236,481 $3,686 2.91%
    Asian Indian 8 $3,050,000 $381,250 $4,251 2.84%
    Other Asian 2 $430,000 $215,000 $4,343 2.63%
    Other Pacific Islander 2 $390,000 $195,000 $3,561 3.18%
    Native Hawaiian or Islander 1 $365,000 $365,000 $4,874 2.88%

    Approval Rates

    Total approvals of all applications
    88.45%

    Texas Mortgage Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.44%

    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 1,828 $459,910,000 $251,592

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,828 $459,910,000 $251,592

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 194 $32,970,000 $169,948 $2,832 2.88%
    40-60% 537 $117,635,000 $219,060 $3,181 2.80%
    60-80% 718 $196,160,000 $273,203 $3,767 3.02%
    80-100% 348 $109,440,000 $314,483 $4,511 3.02%
    Under 20% 31 $3,705,000 $119,516 $1,971 3.27%