Aaxy Mortgage Rates, Fees & InfoAUSTIN, TX
Tax ID: 20-0262652
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewAaxy is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Aaxy has a high proportion of conventional loans. Their top markets by origination volume include: Austin, Houston, Dallas, San Antonio, and College Station among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)
Aaxy 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. Aaxy is typically a high 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.00%||3/19/23|
|30 Year Conventional Refi||5.99%||3/19/23|
|30 Year Cash-out Refi||6.17%||3/19/23|
|15 Year Conventional Purchase||5.38%||3/19/23|
|15 Year Conventional Refi||5.52%||3/19/23|
|15 Year Cash-out Refi||5.52%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$431,355,000
Aaxy's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.26%.
Relative Fees (Closing Costs)
Aaxy's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,334.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||896||$292,990,000||$326,998||$8,986||2.67%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||249||$69,425,000||$278,815||$3,449||2.58%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||148||$46,430,000||$313,716||$3,236||2.55%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||48||$13,790,000||$287,292||$3,343||2.52%|
|COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)||10||$2,250,000||$225,000||$3,535||2.61%|
|Los Alamos, NM (FHA|USDA|VA)||5||$1,295,000||$259,000||$2,981||2.73%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||4||$990,000||$247,500||$4,184||2.94%|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||2||$840,000||$420,000||$0||3.19%|
|SHERMAN-DENISON, TX (FHA|USDA|VA)||3||$805,000||$268,333||$0||2.91%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||1||$485,000||$485,000||$0||3.00%|
|CORPUS CHRISTI, TX (FHA|USDA|VA)||1||$325,000||$325,000||$4,854||2.63%|
|VICTORIA, TX (FHA|USDA|VA)||1||$315,000||$315,000||$2,166||2.13%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||1||$315,000||$315,000||$0||3.13%|
|BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)||1||$285,000||$285,000||$4,101||1.88%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||1||$255,000||$255,000||$3,218||2.25%|
|WACO, TX (FHA|USDA|VA)||2||$210,000||$105,000||$0||3.25%|
|MIDLAND, TX (FHA|USDA|VA)||1||$175,000||$175,000||$0||3.25%|
|Outside of Metro Areas||1||$175,000||$175,000||$3,623||2.38%|
We use machine learning to identify the top lenders compared against AAXY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Aaxy's most frequently originated type of loan was Conventional, with 1,375 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||302||$104,610,000||$346,391||$4,579||2.84%|
For 2021, Aaxy's most frequently cited loan purpose was Refi, with 803 originations. The 2nd most popular reason was Cash Out Refi, with 302 originations.
For 2021, Aaxy's most frequently cited loan duration was 30 Year, with 777 originations. The 2nd most popular length was 15 Year, with 467 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Aaxy's average total fees were $11,334, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 924 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Aaxy's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was <2.5%, with 651 originations.
2021 saw Aaxy place emphasis on $200k-400k loans with 875 originations, totaling $255,275,000 in origination value.
Aaxy lent most frequently to those with incomes in the $100k-150k range, with 490 originations. The second most popular income band? $150k-250k, with 488 originations.
Applicant Debt to Income Ratio
Aaxy lent most frequently to those with DTI ratios of 20-30%, with 414 originations. The next most common DTI ratio? 30-36%, with 289 originations.
Approval RatesTotal approvals of all applications
Aaxy has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Aaxy 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|