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 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.

    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

    941

    Origination Dollar Volume (All Markets)

    $282,535,000
    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) 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%
    Texas Mortgage Lending's top markets include Dallas, Austin, Tyler, Houston, and Longview 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.

    Telco Plus Credit Union
    Similarity Rank: 60
    KELLY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 180
    PRIMEWAY
    Similarity Rank: 249
    Generations Community Federal Credit Union
    Similarity Rank: 264
    AMOCO
    Similarity Rank: 510
    Austin Bank, Texas
    Similarity Rank: 525
    Texas Health Credit Union
    Similarity Rank: 552
    TEXAS BAY
    Similarity Rank: 957
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 1074
    TEXANS
    Similarity Rank: 1170

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 938 $281,720,000 $300,341 $5,590 4.48%
    FHA 3 $815,000 $271,667 $11,803 6.29%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 420 $99,610,000 $237,167 $4,712 4.32%
    Home Purchase 373 $144,805,000 $388,217 $7,048 4.95%
    Refi 148 $38,120,000 $257,568 $4,487 3.79%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 706 $242,400,000 $343,343 $6,280 4.66%
    15 Year 166 $28,710,000 $172,952 $3,592 4.04%
    20 Year 33 $7,565,000 $229,242 $4,797 3.85%
    10 Year 21 $2,465,000 $117,381 $2,580 3.94%
    5 Year 13 $895,000 $68,846 $874 3.28%
    Other 2 $500,000 $250,000 $5,317 4.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 358 $125,450,000 $350,419
    $1k-2k 206 $43,490,000 $211,117
    $2k-3k 124 $29,750,000 $239,919
    $3k-4k 93 $27,865,000 $299,624
    $5k+ 93 $36,565,000 $393,172
    $4k-5k 62 $18,450,000 $297,581

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 296 $84,730,000 $286,250
    4-5% 243 $80,375,000 $330,761
    5-6% 224 $67,990,000 $303,527
    2.5-3% 88 $24,800,000 $281,818
    6-7% 60 $17,860,000 $297,667
    <2.5% 17 $3,435,000 $202,059
    7-8% 13 $3,345,000 $257,308

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 409 $115,105,000 $281,430 $5,977 4.55%
    $100k-200k 250 $37,780,000 $151,120 $3,769 4.24%
    $400k-600k 123 $58,585,000 $476,301 $8,093 4.64%
    $100,000 or less 82 $5,960,000 $72,683 $2,360 4.62%
    $600k-1MM 63 $45,815,000 $727,222 $8,058 4.68%
    $1MM+ 14 $19,290,000 $1,377,857 $12,315 4.17%

    2022 saw Texas Mortgage Lending place emphasis on $200k-400k loans with 409 originations, totaling $115,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 268 $78,690,000 $293,619 $5,631 4.43%
    $75k-100k 178 $42,590,000 $239,270 $5,181 4.59%
    $150k-250k 175 $70,305,000 $401,743 $6,715 4.60%
    $50k-75k 172 $31,740,000 $184,535 $4,360 4.37%
    $250k+ 74 $49,670,000 $671,216 $8,789 4.69%
    $50k or less 74 $9,540,000 $128,919 $3,713 4.26%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 158 $43,650,000 $276,266 $5,300 4.28%
    30-36% 152 $43,590,000 $286,776 $5,210 4.43%
    42% 68 $23,420,000 $344,412 $6,324 4.71%
    44% 49 $13,375,000 $272,959 $5,867 4.65%
    40% 49 $15,425,000 $314,796 $5,720 4.65%
    45% 48 $14,460,000 $301,250 $6,152 4.38%
    43% 47 $15,645,000 $332,872 $5,292 4.72%
    49% 45 $15,525,000 $345,000 $5,962 4.87%
    47% 41 $12,015,000 $293,049 $4,991 4.42%
    39% 41 $13,825,000 $337,195 $7,176 4.48%
    41% 38 $12,550,000 $330,263 $5,458 4.33%
    37% 37 $12,385,000 $334,730 $6,007 4.62%
    48% 37 $9,105,000 $246,081 $5,816 4.79%
    38% 36 $10,860,000 $301,667 $5,072 4.61%
    <20% 35 $7,485,000 $213,857 $3,826 3.78%
    36% 27 $9,955,000 $368,704 $6,121 4.28%
    50-60% 17 $4,855,000 $285,588 $6,339 4.42%
    46% 15 $4,115,000 $274,333 $6,845 5.11%
    >60% 1 $295,000 $295,000 $3,404 3.38%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 509 $138,845,000 $272,780 $5,358 4.42%
    Not provided 274 $88,880,000 $324,380 $5,751 4.47%
    Black 97 $29,825,000 $307,474 $5,928 4.79%
    Asian 40 $16,820,000 $420,500 $6,398 4.66%
    Asian Indian 10 $5,100,000 $510,000 $8,482 4.64%
    American Indian 11 $3,065,000 $278,636 $5,423 4.62%

    Approval Rates

    Total approvals of all applications
    89.32%

    Texas Mortgage Lending has an average approval rate.

    Pick Rate

    Approvals leading to origination
    46.33%

    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 941 $282,535,000 $300,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    941 $282,535,000 $300,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 132 $20,350,000 $154,167 $3,366 4.12%
    40-60% 219 $57,855,000 $264,178 $4,933 4.26%
    60-80% 267 $86,775,000 $325,000 $6,190 4.51%
    80-100% 279 $113,945,000 $408,405 $7,142 4.84%
    Under 20% 44 $3,610,000 $82,045 $1,971 4.38%