Texas First State Bank Mortgage Rates, Fees & Info
Waco, TXLEI: 549300NUL8P98XDLUL67
Tax ID: 74-0625730
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Mortgage Data
Review & Overview
Texas First State Bank is a smaller bank specializing in Home Purchase and Refi loans. Texas First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Killeen, Waco, Dallas, College Station, and Austin among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Texas First State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
61Origination Dollar Volume (All Markets)
$10,795,000Top 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 |
|---|---|---|---|---|---|
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 27 | $5,785,000 | $214,259 | $0 | 5.29% |
| WACO, TX (FHA|USDA|VA) | 28 | $4,220,000 | $150,714 | $0 | 5.34% |
| Outside of Metro Areas | 3 | $385,000 | $128,333 | $0 | 5.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 5.50% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 5.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $10,795,000 | $176,967 | $0 | 5.33% |
For 2018, Texas First State Bank's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
For 2018, Texas First State Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2018, Texas First State Bank's most frequently cited loan duration was 3 Year, with 24 originations. The 2nd most popular length was 1 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $190,000 | $95,000 |
| $1k-2k | 2 | $580,000 | $290,000 |
| $2k-3k | 1 | $545,000 | $545,000 |
Texas First State Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 41 | $6,095,000 | $148,659 |
| 4-5% | 20 | $4,700,000 | $235,000 |
During 2018, Texas First State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 41 originations.
Loan Sizing
2018 saw Texas First State Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,285,000 in origination value.
Applicant Income
Texas First State Bank lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 2 | $400,000 | $200,000 | $0 | 5.18% |
| 38% | 2 | $810,000 | $405,000 | $0 | 5.55% |
| <20% | 1 | $105,000 | $105,000 | $0 | 5.33% |
Texas First State Bank lent most frequently to those with DTI ratios of 20-30%, with 2 originations. The next most common DTI ratio? 38%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.10%
Texas First State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.16%
Texas First State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1637.84 | 1 | $85,000 | $85,000 |
| 1902.02 | 1 | $105,000 | $105,000 |
| 2547.0 | 1 | $265,000 | $265,000 |
| 3137.74 | 1 | $315,000 | $315,000 |
| 4836.7 | 1 | $545,000 | $545,000 |
| NA | 56 | $9,480,000 | $169,286 |