Austin Capital Bank Ssb Mortgage Rates, Fees & Info
Austin, TXLEI: 549300DRKDRXN7POBN12
Tax ID: 20-2602253
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Mortgage Data
Review & Overview
Austin Capital Bank Ssb is a smaller bank specializing in Home Purchase loans. Austin Capital Bank Ssb has a high proportion of conventional loans. Their top (well, only) market is Grand Rapids.Austin Capital Bank Ssb has an above average approval rate when compared to the average across all lenders. Austin Capital Bank Ssb 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 | 6.99% | 11/17/24 |
| 30 Year Conventional Refi | 6.88% | 11/17/24 |
| 30 Year Cash-out Refi | 7.18% | 11/17/24 |
| 30 Year FHA Purchase | 7.78% | 11/17/24 |
| 30 Year FHA Refi | 7.40% | 11/17/24 |
| 30 Year VA Purchase | 6.43% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 7.14% | 11/17/24 |
| 15 Year Conventional Purchase | 6.50% | 11/17/24 |
| 15 Year Conventional Refi | 6.37% | 11/17/24 |
| 15 Year Cash-out Refi | 6.37% | 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. | ||
Austin Capital Bank Ssb Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2Origination Dollar Volume (All Markets)
$90,000Relative Rate
Austin Capital Bank Ssb's average 30 year fixed mortgage rate was
3%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -3.48%.
Relative Fees (Closing Costs)
Austin Capital Bank Ssb's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,578.
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 $9,089.
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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Austin Capital Bank SSB 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 | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
For 2023, Austin Capital Bank Ssb's most frequently originated type of loan was Conventional, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
For 2023, Austin Capital Bank Ssb's most frequently cited loan purpose was Home Purchase, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
For 2023, Austin Capital Bank Ssb's most frequently cited loan duration was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $5,000 | $5,000 |
| $1k-2k | 1 | $85,000 | $85,000 |
Austin Capital Bank Ssb's average total fees were $1,578, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 1 | $5,000 | $5,000 |
| 5-6% | 1 | $85,000 | $85,000 |
During 2023, Austin Capital Bank Ssb's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was <2.5%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
2023 saw Austin Capital Bank Ssb place emphasis on $100,000 or less loans with 2 originations, totaling $90,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
Austin Capital Bank Ssb lent most frequently to those with incomes in the $50k or less range, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 36% | 1 | $5,000 | $5,000 | $0 | 0.00% |
| 44% | 1 | $85,000 | $85,000 | $3,156 | 6.00% |
Austin Capital Bank Ssb lent most frequently to those with DTI ratios of 36%, with 1 originations. The next most common DTI ratio? 44%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2 | $90,000 | $45,000 | $1,578 | 3.00% |
Approval Rates
Total approvals of all applications100.00%
Austin Capital Bank Ssb has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2 | $90,000 | $45,000 |