Western Bank Mortgage Rates, Fees & InfoLubbock, TX
Tax ID: 74-0962510
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewWestern Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Western Bank has a high proportion of conventional loans. Their top markets by origination volume include: Amarillo, Lubbock, Austin, Dallas, and Abilene among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)
Western Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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.
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|Simulated Rate||Simulation Date|
|15 Year Conventional Purchase||5.68%||9/25/23|
|15 Year Conventional Refi||5.68%||9/25/23|
|15 Year Cash-out Refi||5.68%||9/25/23|
|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.|
Western Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Western Bank. 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.
Origination Dollar Volume (All Markets)$63,815,000
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|
|AMARILLO, TX (FHA|USDA|VA)||72||$30,250,000||$420,139||$0||5.94%|
|LUBBOCK, TX (FHA|USDA|VA)||34||$13,210,000||$388,529||$0||5.55%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||5||$8,285,000||$1,657,000||$0||4.85%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||2||$4,500,000||$2,250,000||$0||4.63%|
|ABILENE, TX (FHA|USDA|VA)||17||$2,785,000||$163,824||$0||6.32%|
|Granbury, TX (FHA|USDA|VA)||1||$855,000||$855,000||$0||5.50%|
|Mineral Wells, TX (FHA|USDA|VA)||1||$695,000||$695,000||$0||5.25%|
|Glenwood Springs, CO (FHA|USDA|VA)||1||$625,000||$625,000||$0||6.50%|
|Big Spring, TX (FHA|USDA|VA)||5||$595,000||$119,000||$0||6.20%|
|SAN ANGELO, TX (FHA|USDA|VA)||2||$470,000||$235,000||$0||5.50%|
|Ruidoso, NM (FHA|USDA|VA)||1||$375,000||$375,000||$0||8.00%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||1||$315,000||$315,000||$0||4.75%|
|MIDLAND, TX (FHA|USDA|VA)||1||$215,000||$215,000||$0||5.75%|
|Taos, NM (FHA|USDA|VA)||1||$205,000||$205,000||$0||4.90%|
|FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA)||1||$205,000||$205,000||$0||6.25%|
|Outside of Metro Areas||1||$65,000||$65,000||$0||6.75%|
|Brownwood, TX (FHA|USDA|VA)||1||$65,000||$65,000||$0||7.25%|
|Plainview, TX (FHA|USDA|VA)||1||$55,000||$55,000||$0||6.50%|
|Borger, TX (FHA|USDA|VA)||1||$45,000||$45,000||$0||6.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Western Bank's most frequently originated type of loan was Conventional, with 149 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||42||$13,770,000||$327,857||$0||5.78%|
For 2022, Western Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.
For 2022, Western Bank's most frequently cited loan duration was 5 Year, with 117 originations. The 2nd most popular length was Other, with 20 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Western Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 43 originations.
2022 saw Western Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,930,000 in origination value.
Western Bank lent most frequently to those with incomes in the $150k-250k range, with 14 originations. The second most popular income band? $250k+, with 14 originations.
Applicant Debt to Income Ratio
Western Bank lent most frequently to those with DTI ratios of >60%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.
|Applicant Ethnicity||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Approval RatesTotal approvals of all applications
Western Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Western Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
|Points||Originations||Total Value||Average Loan|