Heritage Land Bank Aca Mortgage Rates, Fees & Info
Tyler, TXLEI: 549300MEKCZ4SZBLLX25
Tax ID: 75-0974381
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Mortgage Data
Review & Overview
Heritage Land Bank Aca is a smaller bank specializing in Home Purchase and Refi loans. Heritage Land Bank Aca has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Palestine, Jacksonville, Nacogdoches, and Tyler among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Heritage Land Bank Aca 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. Heritage Land Bank Aca 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 about average rates.
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Originations
38Origination Dollar Volume (All Markets)
$10,160,000Top 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) | 9 | $2,975,000 | $330,556 | $5,286 | 5.11% |
| Palestine, TX (FHA|USDA|VA) | 9 | $2,155,000 | $239,444 | $11,554 | 5.21% |
| Outside of Metro Areas | 8 | $2,070,000 | $258,750 | $5,353 | 5.27% |
| Jacksonville, TX (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $5,115 | 5.04% |
| Nacogdoches, TX (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,696 | 5.35% |
| TYLER, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,718 | 5.17% |
| Bonham, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,207 | 4.87% |
| Athens, TX (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,671 | 5.88% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,916 | 4.87% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,604 | 5.66% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $10,160,000 | $267,368 | $6,490 | 5.22% |
For 2019, Heritage Land Bank Aca's most frequently originated type of loan was Conventional, with 38 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 27 | $6,995,000 | $259,074 | $5,404 | 5.17% |
| Refi | 11 | $3,165,000 | $287,727 | $9,156 | 5.35% |
For 2019, Heritage Land Bank Aca's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
For 2019, Heritage Land Bank Aca's most frequently cited loan duration was 30 Year, with 16 originations. The 2nd most popular length was 20 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 31 | $8,785,000 | $283,387 |
| $<1k | 6 | $1,240,000 | $206,667 |
| $2k-3k | 1 | $135,000 | $135,000 |
Heritage Land Bank Aca's average total fees were $7,674, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 21 | $5,075,000 | $241,667 |
| 4-5% | 16 | $4,850,000 | $303,125 |
| 6-7% | 1 | $235,000 | $235,000 |
During 2019, Heritage Land Bank Aca's average interest rate for loans was 5.14%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.
Loan Sizing
2019 saw Heritage Land Bank Aca place emphasis on $200k-400k loans with 14 originations, totaling $3,800,000 in origination value.
Applicant Income
Heritage Land Bank Aca lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
Heritage Land Bank Aca lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? <20%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.43%
Heritage Land Bank Aca has an average approval rate.
Pick Rate
Approvals leading to origination42.11%
Heritage Land Bank Aca 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 | 38 | $10,160,000 | $267,368 |