Extraco Banks Mortgage Rates, Fees & Info

Temple, TX

LEI: 549300F7S6KEMTKK0546

Tax ID: 74-0935612

5 stars - Updated: 12/16/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Extraco Banks is a smaller bank specializing in Home Purchase loans. Extraco Banks has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Killeen, College Station, Waco, Austin, and Corpus Christi among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Extraco Banks has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Extraco Banks is typically an average 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 relatively high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.63% 12/16/24
    30 Year Conventional Refi 6.94% 12/16/24
    30 Year Cash-out Refi 7.22% 12/16/24
    30 Year FHA Purchase 7.46% 12/16/24
    30 Year VA Purchase 6.36% 12/16/24
    15 Year Conventional Purchase 6.21% 12/16/24
    15 Year Conventional Refi 6.29% 12/16/24
    15 Year Cash-out Refi 6.29% 12/16/24
    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.

    Extraco Banks Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Extraco Banks. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    362

    Origination Dollar Volume (All Markets)

    $131,520,000
    Show all (7) awards

    Relative Rate

    Extraco Banks's average 30 year fixed mortgage rate was 6.49%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.01%.

    Relative Fees (Closing Costs)

    Extraco Banks's average total fees/closing costs for a 30 year fixed rate mortgage were $6,386.

    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
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 125 $39,065,000 $312,520 $5,324 6.70%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 83 $31,165,000 $375,482 $6,099 6.50%
    WACO, TX (FHA|USDA|VA) 49 $17,965,000 $366,633 $5,700 6.34%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 14 $8,330,000 $595,000 $7,481 6.31%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 26 $7,370,000 $283,462 $6,986 6.91%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 17 $5,265,000 $309,706 $5,441 6.36%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $4,800,000 $480,000 $6,700 6.58%
    Outside of Metro Areas 11 $3,505,000 $318,636 $6,401 6.57%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $2,465,000 $2,465,000 $0 7.25%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $2,315,000 $463,000 $11,948 6.05%
    Athens, TX (FHA|USDA|VA) 2 $1,520,000 $760,000 $7,396 7.31%
    LONGVIEW, TX (FHA|USDA|VA) 2 $1,360,000 $680,000 $6,459 5.81%
    ABILENE, TX (FHA|USDA|VA) 2 $930,000 $465,000 $5,831 6.38%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
    Jacksonville, TX (FHA|USDA|VA) 1 $545,000 $545,000 $15,538 5.88%
    LUBBOCK, TX (FHA|USDA|VA) 1 $505,000 $505,000 $5,965 6.00%
    TYLER, TX (FHA|USDA|VA) 1 $465,000 $465,000 $9,777 6.25%
    WICHITA FALLS, TX (FHA|USDA|VA) 1 $465,000 $465,000 $5,428 6.88%
    VICTORIA, TX (FHA|USDA|VA) 1 $465,000 $465,000 $5,575 6.38%
    Rockport, TX (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.50%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $355,000 $355,000 $3,043 7.63%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $325,000 $325,000 $15,597 6.13%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $315,000 $315,000 $13,368 7.38%
    SANTA FE, NM (FHA|USDA|VA) 1 $295,000 $295,000 $4,275 6.00%
    Fredericksburg, TX (FHA|USDA|VA) 1 $275,000 $275,000 $4,500 6.75%
    Kingsville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,196 6.63%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,449 6.88%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $145,000 $145,000 $2,407 7.13%
    Extraco Banks's top markets include Killeen, College Station, Waco, Austin, and Corpus Christi among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Extraco Banks based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GULF COAST
    Similarity Rank: 86
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 136
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    American Momentum Bank
    Similarity Rank: 500
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 567
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    NAVY ARMY COMMUNITY CREDIT UNION
    Similarity Rank: 759
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 337 $123,165,000 $365,475 $5,412 6.55%
    VA 18 $6,870,000 $381,667 $14,410 6.46%
    FHA 7 $1,485,000 $212,143 $9,200 6.57%

    For 2023, Extraco Banks's most frequently originated type of loan was Conventional, with 337 originations. Their 2nd most popular type was VA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 286 $116,840,000 $408,531 $6,466 6.43%
    Refi 43 $11,255,000 $261,744 $5,207 6.87%
    Other 20 $1,610,000 $80,500 $3,533 7.64%
    Home Improvement 8 $930,000 $116,250 $3,897 7.06%
    Cash Out Refi 5 $885,000 $177,000 $5,772 5.25%

    For 2023, Extraco Banks's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 266 $108,400,000 $407,519 $6,386 6.49%
    15 Year 39 $5,065,000 $129,872 $3,860 7.14%
    5 Year 26 $10,610,000 $408,077 $0 5.87%
    10 Year 18 $4,020,000 $223,333 $0 6.25%
    1 Year 6 $1,090,000 $181,667 $0 8.50%
    20 Year 3 $1,005,000 $335,000 $6,931 6.67%
    Other 3 $775,000 $258,333 $0 7.37%
    3 Year 1 $555,000 $555,000 $0 7.25%

    For 2023, Extraco Banks's most frequently cited loan duration was 30 Year, with 266 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 244 $92,780,000 $380,246
    $5k+ 18 $9,140,000 $507,778
    $2k-3k 13 $3,965,000 $305,000
    $4k-5k 9 $4,225,000 $469,444
    $<1k 6 $800,000 $133,333
    $3k-4k 3 $775,000 $258,333

    Extraco Banks's average total fees were $6,386, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 244 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 197 $70,905,000 $359,924
    7-8% 77 $21,815,000 $283,312
    5-6% 73 $35,545,000 $486,918
    Over 8% 8 $950,000 $118,750
    <2.5% 6 $1,870,000 $311,667
    4-5% 1 $435,000 $435,000

    During 2023, Extraco Banks's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 133 $39,015,000 $293,346 $5,754 6.44%
    $100k-200k 79 $11,605,000 $146,899 $4,194 6.90%
    $400k-600k 61 $29,675,000 $486,475 $7,311 6.34%
    $600k-1MM 42 $30,680,000 $730,476 $8,185 6.19%
    $100,000 or less 33 $2,135,000 $64,697 $3,497 7.08%
    $1MM+ 14 $18,410,000 $1,315,000 $9,590 6.38%

    2023 saw Extraco Banks place emphasis on $200k-400k loans with 133 originations, totaling $39,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 91 $53,235,000 $585,000 $6,615 6.49%
    $150k-250k 79 $30,935,000 $391,582 $7,050 6.49%
    $100k-150k 58 $15,720,000 $271,034 $5,137 6.56%
    $75k-100k 46 $9,530,000 $207,174 $5,791 6.83%
    $50k-75k 25 $3,645,000 $145,800 $4,306 6.73%
    $50k or less 10 $1,260,000 $126,000 $3,496 6.18%

    Extraco Banks lent most frequently to those with incomes in the $250k+ range, with 91 originations. The second most popular income band? $150k-250k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 63 $27,655,000 $438,968 $6,466 6.55%
    20-30% 51 $17,135,000 $335,980 $5,528 6.52%
    <20% 27 $7,955,000 $294,630 $4,842 6.62%
    43% 22 $6,580,000 $299,091 $4,787 6.73%
    44% 19 $6,425,000 $338,158 $6,107 6.63%
    41% 18 $5,940,000 $330,000 $5,503 6.45%
    42% 16 $7,130,000 $445,625 $6,248 6.60%
    40% 15 $5,485,000 $365,667 $6,061 6.58%
    37% 14 $5,990,000 $427,857 $4,743 6.66%
    38% 13 $5,235,000 $402,692 $6,305 6.77%
    39% 11 $4,335,000 $394,091 $4,844 6.49%
    36% 8 $2,150,000 $268,750 $4,881 6.50%
    49% 6 $1,810,000 $301,667 $6,517 6.60%
    50-60% 6 $2,780,000 $463,333 $13,052 6.33%
    46% 5 $2,415,000 $483,000 $13,912 6.43%
    48% 5 $1,745,000 $349,000 $4,538 7.03%
    47% 4 $1,900,000 $475,000 $8,644 6.59%
    45% 4 $1,230,000 $307,500 $7,712 6.22%
    >60% 1 $575,000 $575,000 $14,785 6.75%

    Extraco Banks lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 250 $92,630,000 $370,520 $5,998 6.54%
    Not applicable 47 $15,975,000 $339,894 $0 6.44%
    Not provided 33 $13,015,000 $394,394 $6,442 6.69%
    Asian 16 $5,200,000 $325,000 $5,086 6.59%
    Black 9 $2,405,000 $267,222 $7,699 6.72%
    American Indian 3 $1,545,000 $515,000 $7,840 6.38%
    Asian Indian 3 $685,000 $228,333 $4,132 6.83%
    Native Hawaiian or Islander 1 $65,000 $65,000 $4,225 6.38%

    Approval Rates

    Total approvals of all applications
    92.92%

    Extraco Banks has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.91%

    Extraco Banks has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 362 $131,520,000 $363,315

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    362 $131,520,000 $363,315

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,415,000 $148,478 $4,372 6.73%
    40-60% 52 $13,930,000 $267,885 $4,870 6.39%
    60-80% 96 $38,110,000 $396,979 $5,577 6.69%
    80-100% 159 $71,645,000 $450,597 $6,548 6.38%
    Over 100% 6 $2,410,000 $401,667 $20,100 6.27%
    Under 20% 26 $2,010,000 $77,308 $3,511 7.29%