Fort Worth Community Mortgage Rates, Fees & Info
Bedford, TXLEI: 549300B7YGT5O5MJ7M45
Tax ID: 75-0796472
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Mortgage Data
Review & Overview
Fort Worth Community is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Fort Worth Community has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, San Antonio, Sherman, Houston, and Athens among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Fort Worth Community 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. Fort Worth Community 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Refi | 7.15% | 11/21/24 |
| 15 Year Cash-out Refi | 7.15% | 11/21/24 |
| 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. | ||
Fort Worth Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
240Origination Dollar Volume (All Markets)
$30,280,000Top 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) | 231 | $28,755,000 | $124,481 | $899 | 3.98% |
| Outside of Metro Areas | 4 | $770,000 | $192,500 | $1,397 | 3.76% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,249 | 3.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $380 | 3.64% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $380 | 3.73% |
| Athens, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $300 | 3.60% |
| Granbury, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $300 | 3.76% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 239 | $30,125,000 | $126,046 | $904 | 3.98% |
| HELOC | 1 | $155,000 | $155,000 | n/a | 3.00% |
For 2021, Fort Worth Community's most frequently originated type of loan was Conventional, with 239 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2021, Fort Worth Community's most frequently cited loan purpose was Home Improvement, with 91 originations. The 2nd most popular reason was Other, with 76 originations.
Loan Duration/Length
For 2021, Fort Worth Community's most frequently cited loan duration was 20 Year, with 156 originations. The 2nd most popular length was 10 Year, with 38 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 231 | $28,535,000 | $123,528 |
| $1k-2k | 7 | $1,345,000 | $192,143 |
| $3k-4k | 1 | $245,000 | $245,000 |
Fort Worth Community's average total fees were $3,609, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 231 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 216 | $27,730,000 | $128,380 |
| 7-8% | 13 | $1,005,000 | $77,308 |
| 2.5-3% | 7 | $1,315,000 | $187,857 |
| 6-7% | 3 | $185,000 | $61,667 |
| Over 8% | 1 | $45,000 | $45,000 |
During 2021, Fort Worth Community's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 216 originations.
Loan Sizing
2021 saw Fort Worth Community place emphasis on $100k-200k loans with 104 originations, totaling $14,660,000 in origination value.
Applicant Income
Fort Worth Community lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $50k or less, with 52 originations.
Applicant Debt to Income Ratio
Fort Worth Community lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.90%
Fort Worth Community has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.25%
Fort Worth Community has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 240 | $30,280,000 | $126,167 |