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 Other and Home Improvement loans. Fort Worth Community has an average proportion of conventional loans. Their top markets by origination volume include: Dallas, Granbury, Mineral Wells, Sherman, and Lubbock among others. We have data for 8 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Refi | 7.15% | 11/17/24 |
| 15 Year Cash-out Refi | 7.15% | 11/17/24 |
| 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
717Origination Dollar Volume (All Markets)
$74,985,000Top 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) | 696 | $73,130,000 | $105,072 | $565 | 4.85% |
| Outside of Metro Areas | 8 | $700,000 | $87,500 | $300 | 4.42% |
| Granbury, TX (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $300 | 4.74% |
| Mineral Wells, TX (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $380 | 5.17% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $380 | 7.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $300 | 4.67% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.75% |
| Athens, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $300 | 7.66% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 516 | $54,430,000 | $105,484 | n/a | 4.45% |
| Conventional | 201 | $20,555,000 | $102,264 | $558 | 5.86% |
For 2022, Fort Worth Community's most frequently originated type of loan was HELOC, with 516 originations. Their 2nd most popular type was Conventional, with 201 originations.
Loan Reason
For 2022, Fort Worth Community's most frequently cited loan purpose was Other, with 341 originations. The 2nd most popular reason was Home Improvement, with 290 originations.
Loan Duration/Length
For 2022, Fort Worth Community's most frequently cited loan duration was 10 Year, with 533 originations. The 2nd most popular length was 20 Year, with 135 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 201 | $20,555,000 | $102,264 |
Fort Worth Community's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 201 originations.
Interest Rates
During 2022, Fort Worth Community's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 177 originations.
Loan Sizing
2022 saw Fort Worth Community place emphasis on $100,000 or less loans with 383 originations, totaling $22,655,000 in origination value.
Applicant Income
Fort Worth Community lent most frequently to those with incomes in the $100k-150k range, with 184 originations. The second most popular income band? $150k-250k, with 144 originations.
Applicant Debt to Income Ratio
Fort Worth Community lent most frequently to those with DTI ratios of 20-30%, with 117 originations. The next most common DTI ratio? 50-60%, with 112 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.55%
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 origination92.33%
Fort Worth Community has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 717 | $74,985,000 | $104,582 |