Smart Choice Mortgage A Texas Limited Liability C Rates, Fees & Info

HOUSTON, TX

LEI: 549300PZATEYE8VIEN67

Tax ID: 47-3980438

3.8 stars - Updated: 11/17/24 - out of 5 stars, based on 10 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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 6.58% 11/17/24
    30 Year Cash-out Refi 6.27% 11/17/24
    30 Year FHA Purchase 6.27% 11/17/24
    30 Year VA Purchase 5.98% 11/17/24
    15 Year Conventional Purchase 6.12% 11/17/24
    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






    Your Estimates

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

    This is not an official calculator from Smart Choice Mortgage A Texas Limited Liability C. 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

    94

    Origination Dollar Volume (All Markets)

    $48,630,000

    Awards

    SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C 30 Year Conventional Loans bronze SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C VA Loans silver
    Show all (2) awards

    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%
    Smart Choice Mortgage A Texas Limited Liability C's top markets include Austin, San Antonio, and Houston among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • 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.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 300
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    East West Bank
    Similarity Rank: 703
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 770
    Generations Community Federal Credit Union
    Similarity Rank: 824
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 966

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 88 $46,270,000 $525,795 $10,830 6.30%
    15 Year 5 $2,195,000 $439,000 $9,686 5.68%
    20 Year 1 $165,000 $165,000 $600 6.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 40 $24,300,000 $607,500
    $<1k 33 $15,455,000 $468,333
    $1k-2k 9 $3,995,000 $443,889
    $2k-3k 6 $2,440,000 $406,667
    $4k-5k 4 $1,910,000 $477,500
    $3k-4k 2 $530,000 $265,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 37 $18,535,000 $500,946 $10,761 6.19%
    $600k-1MM 28 $19,080,000 $681,429 $14,254 6.43%
    $200k-400k 23 $7,005,000 $304,565 $5,073 6.22%
    $100k-200k 3 $445,000 $148,333 $1,565 6.08%
    $1MM+ 3 $3,565,000 $1,188,333 $27,810 6.25%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 40 $22,400,000 $560,000 $12,026 6.29%
    $100k-150k 25 $9,995,000 $399,800 $8,861 6.05%
    $250k+ 20 $13,330,000 $666,500 $12,330 6.64%
    $75k-100k 7 $2,275,000 $325,000 $5,740 6.10%
    $50k-75k 1 $505,000 $505,000 $12,715 5.25%
    $50k or less 1 $125,000 $125,000 $0 5.25%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 13 $5,355,000 $411,923 $10,436 5.98%
    30-36% 12 $5,600,000 $466,667 $9,843 6.30%
    50-60% 7 $4,705,000 $672,143 $16,428 5.74%
    46% 6 $3,370,000 $561,667 $11,958 6.58%
    37% 6 $3,450,000 $575,000 $12,675 6.25%
    48% 6 $3,340,000 $556,667 $8,409 6.35%
    47% 6 $2,650,000 $441,667 $13,325 6.46%
    36% 5 $2,325,000 $465,000 $4,973 6.10%
    42% 5 $2,795,000 $559,000 $9,492 6.37%
    >60% 4 $3,510,000 $877,500 $13,783 6.77%
    43% 4 $1,870,000 $467,500 $15,387 5.75%
    44% 4 $2,410,000 $602,500 $8,310 6.65%
    39% 3 $1,075,000 $358,333 $5,073 6.42%
    40% 3 $915,000 $305,000 $6,810 6.29%
    45% 3 $1,975,000 $658,333 $2,723 7.21%
    <20% 3 $1,305,000 $435,000 $15,969 6.17%
    49% 2 $970,000 $485,000 $15,483 6.25%
    41% 1 $475,000 $475,000 $10,129 5.75%
    38% 1 $535,000 $535,000 $0 5.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 69 $34,725,000 $503,261 $10,425 6.34%
    Not provided 12 $6,440,000 $536,667 $9,710 6.11%
    Asian 6 $3,780,000 $630,000 $7,450 6.05%
    Black 6 $3,000,000 $500,000 $15,468 5.94%
    American Indian 1 $685,000 $685,000 $28,670 6.13%

    Approval Rates

    Total approvals of all applications
    99.43%

    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 origination
    28.72%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    94 $48,630,000 $517,340

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $2,525,000 $229,545 $3,743 6.20%
    40-60% 15 $6,105,000 $407,000 $5,776 6.32%
    60-80% 27 $13,625,000 $504,630 $10,636 6.19%
    80-100% 39 $25,085,000 $643,205 $13,231 6.32%
    Over 100% 2 $1,290,000 $645,000 $35,519 6.13%