Aaxy Mortgage Rates, Fees & Info
AUSTIN, TXLEI: 5493001SBOA8GKVW1N27
Tax ID: 20-0262652
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Mortgage Data
Review & Overview
Aaxy is a smaller mortgage company specializing in Refi and Home Purchase 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 8 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.01% | 4/21/24 |
| 30 Year Conventional Refi | 5.94% | 4/21/24 |
| 30 Year Cash-out Refi | 6.26% | 4/21/24 |
| 15 Year Conventional Purchase | 5.31% | 4/21/24 |
| 15 Year Conventional Refi | 5.56% | 4/21/24 |
| 15 Year Cash-out Refi | 5.56% | 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. | ||
Aaxy Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
476Origination Dollar Volume (All Markets)
$144,180,000Awards
AAXY - 2019
AAXY is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 272 | $83,980,000 | $308,750 | $3,911 | 3.53% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 105 | $29,245,000 | $278,524 | $3,732 | 3.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 64 | $20,710,000 | $323,594 | $3,835 | 3.47% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 30 | $9,180,000 | $306,000 | $13,055 | 3.33% |
| Outside of Metro Areas | 2 | $390,000 | $195,000 | $4,088 | 3.44% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,579 | 2.88% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,032 | 3.38% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,315 | 4.38% |
Similar Lenders
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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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 476 | $144,180,000 | $302,899 | $4,452 | 3.47% |
For 2019, Aaxy's most frequently originated type of loan was Conventional, with 476 originations.
Loan Reason
For 2019, Aaxy's most frequently cited loan purpose was Refi, with 298 originations. The 2nd most popular reason was Home Purchase, with 146 originations.
Loan Duration/Length
For 2019, Aaxy's most frequently cited loan duration was 30 Year, with 302 originations. The 2nd most popular length was 15 Year, with 169 originations.
Origination Fees/Closing Costs
Aaxy's average total fees were $3,969, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 416 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 349 | $109,045,000 | $312,450 |
| 2.5-3% | 76 | $23,690,000 | $311,711 |
| 4-5% | 50 | $11,130,000 | $222,600 |
| 5-6% | 1 | $315,000 | $315,000 |
During 2019, Aaxy's average interest rate for loans was 3.66%, while their most frequently originated rate bucket for loans was 3-4%, with 349 originations.
Loan Sizing
2019 saw Aaxy place emphasis on $200k-400k loans with 311 originations, totaling $91,705,000 in origination value.
Applicant Income
Aaxy lent most frequently to those with incomes in the $100k-150k range, with 220 originations. The second most popular income band? $150k-250k, with 145 originations.
Applicant Debt to Income Ratio
Aaxy lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 115 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.01%
Aaxy has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.96%
Aaxy has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4734.65 | 1 | $245,000 | $245,000 |
| NA | 475 | $143,935,000 | $303,021 |