Texans Mortgage Rates, Fees & Info

Richardson, TX

LEI: 549300GY97XGRF7XZO52

Tax ID: 75-0992590

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Texans is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Texans has a high proportion of conventional loans. Their top markets include Dallas, Austin, Houston, Sherman, and Tyler among others. Texans has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Texans is typically an average fee lendor.


Originations

892

Origination Dollar Volume (All Markets)

$202,230,000

Awards

TEXANS 30 Year Conventional Loans gold TEXANS 30 Year Conventional Loans silver TEXANS 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

Texans's average 30 year fixed rate mortgage of loans were 2.97%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.18%.

Relative Fees

Texans's average total fees for a 30 year fixed rate mortgage are $3,769.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 792 $174,340,000 $220,126 $2,379 3.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 45 $13,865,000 $308,111 $4,905 2.79%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 19 $5,535,000 $291,316 $2,539 2.96%
SHERMAN-DENISON, TX (FHA|USDA|VA) 14 $3,410,000 $243,571 $2,973 2.89%
Outside of Metro Areas 8 $1,710,000 $213,750 $3,050 3.34%
TYLER, TX (FHA|USDA|VA) 3 $885,000 $295,000 $3,015 3.53%
Fredericksburg, TX (FHA|USDA|VA) 1 $495,000 $495,000 $4,212 2.75%
Palestine, TX (FHA|USDA|VA) 1 $465,000 $465,000 $5,829 2.75%
Mount Pleasant, TX (FHA|USDA|VA) 1 $375,000 $375,000 $3,697 2.63%
LUBBOCK, TX (FHA|USDA|VA) 1 $295,000 $295,000 $2,561 2.88%
Gainesville, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,849 2.88%
LONGVIEW, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,723 3.38%
WACO, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,425 3.25%
El Campo, TX (FHA|USDA|VA) 1 $105,000 $105,000 $945 3.30%
Corsicana, TX (FHA|USDA|VA) 1 $105,000 $105,000 $795 2.75%
Granbury, TX (FHA|USDA|VA) 1 $55,000 $55,000 $725 3.99%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $45,000 $45,000 $380 3.50%

Texans's top markets include Dallas, Austin, Houston, Sherman, and Tyler among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 892 $202,230,000 $226,715 $2,538 3.11%

For the 2021 period, Texans's most frequently originated loan type of loans were Conventional, with 892 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 362 $84,400,000 $233,149 $2,475 2.89%
Cash Out Refi 197 $56,565,000 $287,132 $4,357 2.99%
Home Improvement 136 $10,160,000 $74,706 $404 3.81%
Home Purchase 118 $42,690,000 $361,780 $3,364 2.88%
Other 79 $8,415,000 $106,519 $750 3.54%

For the 2021, Texans's most frequently cited loan purpose of loans were Refi, with 362 originations. The 2nd most popular reason of loans were Cash Out Refi, with 197 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 367 $121,835,000 $331,975 $3,769 2.97%
15 Year 223 $43,665,000 $195,807 $2,345 2.99%
10 Year 125 $9,845,000 $78,760 $635 3.31%
20 Year 105 $19,645,000 $187,095 $2,013 3.45%
5 Year 41 $1,985,000 $48,415 $326 3.45%
Other 30 $5,190,000 $173,000 $1,710 3.09%
3 Year 1 $65,000 $65,000 $290 3.50%

For the 2021, Texans's most frequently cited loan length of loans were 30 Year, with 367 originations. The 2nd most popular length of loans were 15 Year, with 223 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 320 $105,840,000 $330,750
$<1k 213 $50,545,000 $237,300
$3k-4k 16 $5,080,000 $317,500
$2k-3k 12 $3,490,000 $290,833
$5k+ 3 $1,375,000 $458,333

$3,769 of loans were Texans's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 320 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 482 $124,430,000 $258,154
3-4% 241 $47,145,000 $195,622
<2.5% 91 $25,385,000 $278,956
4-5% 57 $3,865,000 $67,807
5-6% 19 $1,325,000 $69,737
6-7% 2 $80,000 $40,000

During 2021, Texans's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 2.5-3%, with 482 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 321 $92,665,000 $288,676 $3,673 2.87%
$100,000 or less 229 $12,835,000 $56,048 $416 3.63%
$100k-200k 216 $31,470,000 $145,694 $1,851 3.05%
$400k-600k 106 $50,300,000 $474,528 $4,453 2.84%
$600k-1MM 18 $12,950,000 $719,444 $6,049 3.04%
$1MM+ 2 $2,010,000 $1,005,000 $4,645 2.75%

2021 saw Texans place emphasis on $200k-400k loans with 321 originations, totaling $92,665,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 265 $72,285,000 $272,774 $2,866 3.10%
$100k-150k 251 $52,715,000 $210,020 $2,462 3.11%
$75k-100k 140 $25,740,000 $183,857 $2,414 3.12%
$50k-75k 110 $13,850,000 $125,909 $1,796 3.09%
$250k+ 83 $33,775,000 $406,928 $3,757 3.16%
$50k or less 43 $3,865,000 $89,884 $921 3.10%

Texans lent most frequently to those with incomes in the $150k-250k range, with 265 originations. The second most popular income band? $100k-150k, with 251 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 289 $69,505,000 $240,502 $2,644 3.02%
30-36% 190 $40,510,000 $213,211 $2,484 3.17%
<20% 134 $28,590,000 $213,358 $2,473 2.92%
39% 43 $10,995,000 $255,698 $2,942 3.23%
37% 36 $7,580,000 $210,556 $1,840 3.33%
42% 33 $6,955,000 $210,758 $2,055 3.35%
38% 33 $5,765,000 $174,697 $2,083 3.33%
40% 31 $6,825,000 $220,161 $2,266 3.29%
43% 30 $8,530,000 $284,333 $3,351 3.13%
41% 20 $4,800,000 $240,000 $2,463 3.15%
36% 20 $4,080,000 $204,000 $2,051 3.41%
44% 11 $2,495,000 $226,818 $3,018 3.05%
47% 6 $1,350,000 $225,000 $2,246 3.00%
46% 5 $1,705,000 $341,000 $5,671 3.10%
50-60% 4 $700,000 $175,000 $873 3.21%
48% 3 $585,000 $195,000 $2,440 3.00%
49% 3 $875,000 $291,667 $5,273 2.71%
>60% 1 $385,000 $385,000 $3,415 3.38%

Texans lent most frequently to those with DTI ratios of 20-30%, with 289 originations. The next most common DTI ratio? 30-36%, with 190 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 567 $139,795,000 $246,552 $2,869 3.05%
Not provided 224 $40,590,000 $181,205 $1,720 3.23%
Asian 42 $11,370,000 $270,714 $3,023 3.01%
Black 53 $9,095,000 $171,604 $2,081 3.33%
American Indian 4 $980,000 $245,000 $2,684 3.03%
Asian Indian 2 $400,000 $200,000 $2,396 2.63%

Approval Rates

Total approvals of all applications
70.39%

Texans has a below average approval rate.

Pick Rate

Approvals leading to origination
53.42%

Texans has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 892 $202,230,000 $226,715

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
892 $202,230,000 $226,715

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 157 $21,015,000 $133,854 $1,443 3.05%
40-60% 209 $50,785,000 $242,990 $3,123 2.88%
60-80% 268 $90,290,000 $336,903 $3,783 2.90%
80-100% 83 $29,575,000 $356,325 $3,542 2.96%
Under 20% 175 $10,565,000 $60,371 $448 3.82%