Smart Choice Mortgage A Texas Limited Liability C Rates, Fees & Info
HOUSTON, TXLEI: 549300PZATEYE8VIEN67
Tax ID: 47-3980438
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Mortgage Data
Review & Overview
Smart Choice Mortgage A Texas Limited Liability C is a smaller mortgage company specializing in Home Purchase loans. Smart Choice Mortgage A Texas Limited Liability C has a high proportion of conventional loans. Their top markets by origination volume include: Austin, San Antonio, and Houston among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Smart Choice Mortgage A Texas Limited Liability C 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. Smart Choice Mortgage A Texas Limited Liability C is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.58% | 11/3/24 |
30 Year Cash-out Refi | 6.27% | 11/3/24 |
30 Year FHA Purchase | 6.27% | 11/3/24 |
30 Year VA Purchase | 5.98% | 11/3/24 |
15 Year Conventional Purchase | 6.12% | 11/3/24 |
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. |
Smart Choice Mortgage A Texas Limited Liability C Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
94Origination Dollar Volume (All Markets)
$48,630,000SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C - 2023
SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C is a 2023 , due to their low .
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Relative Rate
Smart Choice Mortgage A Texas Limited Liability C's average 30 year fixed mortgage rate was
6.3%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.18%.
Relative Fees (Closing Costs)
Smart Choice Mortgage A Texas Limited Liability C's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,830.
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 |
---|---|---|---|---|---|
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 48 | $26,550,000 | $553,125 | $9,374 | 6.38% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 43 | $20,355,000 | $473,372 | $12,423 | 6.07% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,725,000 | $575,000 | $5,977 | 7.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 71 | $33,755,000 | $475,423 | $8,937 | 6.35% |
VA | 23 | $14,875,000 | $646,739 | $15,978 | 5.99% |
For 2023, Smart Choice Mortgage A Texas Limited Liability C's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was VA, with 23 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 94 | $48,630,000 | $517,340 | $10,660 | 6.26% |
For 2023, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan purpose was Home Purchase, with 94 originations.
Loan Duration/Length
For 2023, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan duration was 30 Year, with 88 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Smart Choice Mortgage A Texas Limited Liability C's average total fees were $10,830, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 40 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 40 | $22,150,000 | $553,750 |
5-6% | 39 | $18,485,000 | $473,974 |
7-8% | 14 | $7,490,000 | $535,000 |
4-5% | 1 | $505,000 | $505,000 |
During 2023, Smart Choice Mortgage A Texas Limited Liability C's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 40 originations.
Loan Sizing
2023 saw Smart Choice Mortgage A Texas Limited Liability C place emphasis on $400k-600k loans with 37 originations, totaling $18,535,000 in origination value.
Applicant Income
Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with incomes in the $150k-250k range, with 40 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.43%
Smart Choice Mortgage A Texas Limited Liability C has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination28.72%
Smart Choice Mortgage A Texas Limited Liability C 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 | 94 | $48,630,000 | $517,340 |