Texans Mortgage Rates, Fees & Info

Richardson, TX

LEI: 549300GY97XGRF7XZO52

Tax ID: 75-0992590

5 stars - Updated: 12/9/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Texans is a smaller mortgage company specializing in Cash Out Refi and Home Improvement loans. Texans has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Austin, Athens, Sherman, and Palm Bay among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Texans has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texans 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 6.34% 12/9/24
30 Year Conventional Refi 6.44% 12/9/24
30 Year Cash-out Refi 6.52% 12/9/24
30 Year FHA Purchase 6.27% 12/9/24
30 Year FHA Refi 6.27% 12/9/24
15 Year Conventional Purchase 5.87% 12/9/24
15 Year Conventional Refi 6.04% 12/9/24
15 Year Cash-out Refi 6.04% 12/9/24
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.

Texans Mortgage Calculator






Your Estimates

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

This is not an official calculator from Texans. 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

461

Origination Dollar Volume (All Markets)

$56,075,000

Awards

TEXANS 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Texans's average 30 year fixed mortgage rate was 6.91%.

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

This yields a difference of 0.43%.

Relative Fees (Closing Costs)

Texans's average total fees/closing costs for a 30 year fixed rate mortgage were $6,305.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 434 $52,150,000 $120,161 $1,392 7.49%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $710,000 $177,500 $3,252 8.08%
Athens, TX (FHA|USDA|VA) 1 $615,000 $615,000 $0 7.50%
SHERMAN-DENISON, TX (FHA|USDA|VA) 6 $450,000 $75,000 $2,441 6.69%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $425,000 $425,000 $11,238 7.38%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $405,000 $405,000 $10,686 7.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $205,000 $205,000 $2,217 6.75%
Bonham, TX (FHA|USDA|VA) 1 $195,000 $195,000 $0 6.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $195,000 $65,000 $0 7.17%
Palestine, TX (FHA|USDA|VA) 1 $165,000 $165,000 $9,318 5.88%
LaGrange, GA-AL (FHA|USDA|VA) 1 $115,000 $115,000 $4,000 5.88%
Mount Pleasant, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.89%
Outside of Metro Areas 2 $100,000 $50,000 $0 6.95%
SAN ANGELO, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.57%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $3,447 5.88%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $45,000 $45,000 $315 7.55%
WACO, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.57%
Texans's top markets include Dallas, Austin, Athens, Sherman, and Palm Bay among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 136
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 575
    East West Bank
    Similarity Rank: 666
    DATCU
    Similarity Rank: 981
    FC LENDING, LTD.
    Similarity Rank: 1030
    HOME FINANCING UNLIMITED, INC.
    Similarity Rank: 1440
    Inwood National Bank
    Similarity Rank: 1452
    VELOCITY Credit Union
    Similarity Rank: 1631

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 325 $38,715,000 $119,123 $1,541 7.09%
    HELOC 136 $17,360,000 $127,647 n/a 8.35%

    For 2023, Texans's most frequently originated type of loan was Conventional, with 325 originations. Their 2nd most popular type was HELOC, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 200 $21,480,000 $107,400 $574 7.43%
    Home Improvement 145 $14,215,000 $98,034 $625 7.57%
    Other 80 $9,990,000 $124,875 $716 7.59%
    Home Purchase 31 $9,325,000 $300,806 $9,031 6.85%
    Refi 5 $1,065,000 $213,000 $2,933 7.37%

    For 2023, Texans's most frequently cited loan purpose was Cash Out Refi, with 200 originations. The 2nd most popular reason was Home Improvement, with 145 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 261 $31,345,000 $120,096 $732 7.97%
    15 Year 66 $7,080,000 $107,273 $510 7.00%
    10 Year 58 $3,740,000 $64,483 $182 6.69%
    30 Year 45 $12,055,000 $267,889 $6,305 6.91%
    5 Year 26 $1,510,000 $58,077 $164 6.48%
    Other 5 $345,000 $69,000 $320 6.31%

    For 2023, Texans's most frequently cited loan duration was 20 Year, with 261 originations. The 2nd most popular length was 15 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 72 $6,150,000 $85,417
    $5k+ 13 $5,245,000 $403,462
    $3k-4k 9 $2,155,000 $239,444
    $2k-3k 4 $620,000 $155,000
    $4k-5k 3 $1,035,000 $345,000
    $1k-2k 1 $75,000 $75,000

    Texans's average total fees were $6,305, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 161 $20,035,000 $124,441
    7-8% 138 $17,070,000 $123,696
    Over 8% 123 $14,405,000 $117,114
    5-6% 39 $4,565,000 $117,051

    During 2023, Texans's average interest rate for loans was 6.91%, while their most frequently originated rate bucket for loans was 6-7%, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 239 $13,435,000 $56,213 $217 7.44%
    $100k-200k 135 $18,035,000 $133,593 $790 7.52%
    $200k-400k 76 $19,210,000 $252,763 $5,334 7.49%
    $400k-600k 9 $4,125,000 $458,333 $9,449 7.19%
    $600k-1MM 2 $1,270,000 $635,000 $13,247 7.19%

    2023 saw Texans place emphasis on $100,000 or less loans with 239 originations, totaling $13,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 179 $23,285,000 $130,084 $1,693 7.50%
    $100k-150k 125 $14,005,000 $112,040 $1,836 7.34%
    $250k+ 79 $12,555,000 $158,924 $1,189 7.71%
    $75k-100k 40 $3,530,000 $88,250 $1,333 7.36%
    $50k-75k 23 $1,925,000 $83,696 $1,484 7.43%
    $50k or less 15 $775,000 $51,667 $220 7.03%

    Texans lent most frequently to those with incomes in the $150k-250k range, with 179 originations. The second most popular income band? $100k-150k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 127 $13,955,000 $109,882 $1,113 7.21%
    30-36% 107 $13,155,000 $122,944 $763 7.66%
    42% 48 $5,260,000 $109,583 $756 7.33%
    <20% 34 $4,090,000 $120,294 $2,013 7.16%
    37% 25 $2,925,000 $117,000 $926 7.61%
    41% 25 $3,095,000 $123,800 $526 7.58%
    38% 17 $1,645,000 $96,765 $1,558 7.34%
    40% 16 $1,340,000 $83,750 $178 7.93%
    36% 16 $2,150,000 $134,375 $8,107 8.16%
    39% 14 $1,910,000 $136,429 $2,026 7.71%
    43% 13 $2,075,000 $159,615 $2,598 7.50%
    46% 4 $1,080,000 $270,000 $8,857 7.44%
    44% 3 $1,195,000 $398,333 $8,159 7.50%
    49% 3 $1,225,000 $408,333 $11,084 6.67%
    50-60% 3 $135,000 $45,000 $290 8.15%
    45% 2 $260,000 $130,000 $6,715 6.76%
    47% 2 $360,000 $180,000 $2,343 7.87%
    48% 1 $125,000 $125,000 $0 9.00%
    >60% 1 $95,000 $95,000 $290 8.19%

    Texans lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? 30-36%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 268 $31,160,000 $116,269 $1,644 7.50%
    Not provided 140 $17,990,000 $128,500 $1,341 7.38%
    Black 31 $3,375,000 $108,871 $1,903 7.62%
    Asian 15 $2,805,000 $187,000 $1,115 7.36%
    Filipino 2 $240,000 $120,000 $1,312 7.19%
    Asian Indian 2 $210,000 $105,000 $290 7.20%
    American Indian 2 $190,000 $95,000 $630 7.40%
    Korean 1 $105,000 $105,000 $0 7.09%

    Approval Rates

    Total approvals of all applications
    51.62%

    Texans has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    14.53%

    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 461 $56,075,000 $121,638

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    461 $56,075,000 $121,638

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 130 $19,760,000 $152,000 $824 7.60%
    40-60% 29 $6,535,000 $225,345 $3,939 7.28%
    60-80% 24 $7,510,000 $312,917 $6,190 6.94%
    80-100% 11 $3,865,000 $351,364 $9,365 6.91%
    Under 20% 267 $18,405,000 $68,933 $203 7.49%