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 low 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.
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 | 6.75% | 4/5/25 |
| 30 Year Conventional Refi | 6.68% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 5.76% | 4/5/25 |
| 15 Year Conventional Purchase | 6.39% | 4/5/25 |
| 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
64Origination Dollar Volume (All Markets)
$32,770,000Awards
SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C - 2024
SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Smart Choice Mortgage A Texas Limited Liability C's average 30 year fixed mortgage rate was
6.63%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.08%.
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 $4,765.
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 $8,356.
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) | 34 | $17,930,000 | $527,353 | $3,822 | 6.53% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 21 | $10,185,000 | $485,000 | $6,308 | 6.64% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 9 | $4,655,000 | $517,222 | $7,090 | 6.92% |
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 | 63 | $31,975,000 | $507,540 | $5,051 | 6.63% |
| VA | 1 | $795,000 | $795,000 | $8,041 | 6.00% |
For 2024, Smart Choice Mortgage A Texas Limited Liability C's most frequently originated type of loan was Conventional, with 63 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 62 | $32,250,000 | $520,161 | $5,050 | 6.63% |
| Refi | 2 | $520,000 | $260,000 | $6,580 | 6.44% |
For 2024, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 63 | $32,245,000 | $511,825 | $4,765 | 6.63% |
| 15 Year | 1 | $525,000 | $525,000 | $26,028 | 6.25% |
For 2024, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan duration was 30 Year, with 63 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Smart Choice Mortgage A Texas Limited Liability C's average total fees were $4,765, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 32 | $14,890,000 | $465,313 |
| 7-8% | 20 | $11,070,000 | $553,500 |
| 5-6% | 11 | $6,095,000 | $554,091 |
| 4-5% | 1 | $715,000 | $715,000 |
During 2024, Smart Choice Mortgage A Texas Limited Liability C's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 32 originations.
Loan Sizing
2024 saw Smart Choice Mortgage A Texas Limited Liability C place emphasis on $400k-600k loans with 30 originations, totaling $15,480,000 in origination value.
Applicant Income
Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with incomes in the $250k+ range, with 27 originations. The second most popular income band? $150k-250k, with 20 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 15 originations. The next most common DTI ratio? 47%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination76.56%
Smart Choice Mortgage A Texas Limited Liability C has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 64 | $32,770,000 | $512,031 |