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

HOUSTON, TX

LEI: 549300PZATEYE8VIEN67

Tax ID: 47-3980438

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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, Houston, and Dallas among others. We have data for 4 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 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.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 5.98% 12/16/24
    15 Year Conventional Purchase 6.12% 12/16/24
    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

    202

    Origination Dollar Volume (All Markets)

    $70,100,000

    Awards

    SMART CHOICE MORTGAGE A TEXAS LIMITED LIABILITY C 30 Year Conventional Loans silver
    Show all (1) awards

    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) 90 $32,720,000 $363,556 $3,771 3.11%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 92 $31,110,000 $338,152 $6,705 3.10%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 19 $6,145,000 $323,421 $3,108 3.01%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,459 2.38%
    Smart Choice Mortgage A Texas Limited Liability C's top markets include Austin, San Antonio, Houston, and Dallas 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.

    United Heritage Credit Union
    Similarity Rank: 657
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1265
    AAXY L.L.C.
    Similarity Rank: 1314
    TEXANS
    Similarity Rank: 1368
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1480
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1824
    Shea Mortgage Inc.
    Similarity Rank: 1848
    ASSOCIATED CREDIT UNION OF TEXAS
    Similarity Rank: 1895
    PRIMEWAY
    Similarity Rank: 2088
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 2142

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 167 $55,565,000 $332,725 $4,172 3.12%
    VA 35 $14,535,000 $415,286 $9,285 2.97%

    For 2020, Smart Choice Mortgage A Texas Limited Liability C's most frequently originated type of loan was Conventional, with 167 originations. Their 2nd most popular type was VA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 171 $60,795,000 $355,526 $5,028 3.09%
    Refi 24 $7,480,000 $311,667 $4,814 3.05%
    Cash Out Refi 7 $1,825,000 $260,714 $6,624 3.23%

    For 2020, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan purpose was Home Purchase, with 171 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 172 $62,630,000 $364,128 $5,239 3.13%
    15 Year 24 $6,150,000 $256,250 $4,199 2.75%
    20 Year 4 $1,090,000 $272,500 $3,468 3.25%
    10 Year 2 $230,000 $115,000 $2,962 3.13%

    For 2020, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan duration was 30 Year, with 172 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 76 $28,070,000 $369,342
    $1k-2k 53 $16,535,000 $311,981
    $3k-4k 16 $4,660,000 $291,250
    $2k-3k 15 $4,895,000 $326,333
    $5k+ 13 $5,535,000 $425,769
    $4k-5k 11 $4,305,000 $391,364

    Smart Choice Mortgage A Texas Limited Liability C's average total fees were $5,239, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 76 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 93 $32,365,000 $348,011
    3-4% 86 $30,200,000 $351,163
    <2.5% 18 $5,690,000 $316,111
    4-5% 5 $1,845,000 $369,000

    During 2020, Smart Choice Mortgage A Texas Limited Liability C's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 108 $33,940,000 $314,259 $5,069 3.07%
    $400k-600k 68 $31,870,000 $468,676 $5,599 3.12%
    $100k-200k 23 $3,425,000 $148,913 $3,308 3.10%
    $100,000 or less 2 $160,000 $80,000 $3,134 3.13%
    $600k-1MM 1 $705,000 $705,000 $11,265 3.50%

    2020 saw Smart Choice Mortgage A Texas Limited Liability C place emphasis on $200k-400k loans with 108 originations, totaling $33,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 78 $27,490,000 $352,436 $4,903 3.15%
    $150k-250k 55 $21,785,000 $396,091 $5,696 3.08%
    $75k-100k 28 $8,020,000 $286,429 $4,939 3.03%
    $250k+ 19 $7,105,000 $373,947 $4,365 3.13%
    $50k-75k 18 $4,460,000 $247,778 $4,609 2.88%
    $50k or less 4 $1,240,000 $310,000 $5,465 3.19%

    Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $150k-250k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $14,310,000 $340,714 $6,771 3.07%
    20-30% 40 $12,820,000 $320,500 $4,299 3.02%
    40% 16 $5,320,000 $332,500 $4,025 3.13%
    42% 12 $4,650,000 $387,500 $4,379 3.18%
    <20% 10 $2,450,000 $245,000 $3,907 2.99%
    41% 10 $3,220,000 $322,000 $3,236 3.08%
    43% 8 $2,970,000 $371,250 $3,635 2.98%
    46% 8 $2,950,000 $368,750 $5,445 3.00%
    39% 8 $2,590,000 $323,750 $5,422 3.33%
    44% 8 $3,060,000 $382,500 $3,982 3.36%
    45% 7 $2,775,000 $396,429 $4,129 2.91%
    49% 7 $2,905,000 $415,000 $8,639 3.48%
    50-60% 6 $2,750,000 $458,333 $5,781 3.08%
    36% 5 $1,715,000 $343,000 $4,687 2.95%
    47% 4 $1,580,000 $395,000 $3,893 3.15%
    38% 4 $1,340,000 $335,000 $4,811 3.09%
    37% 3 $1,175,000 $391,667 $6,303 3.20%
    48% 2 $650,000 $325,000 $6,071 3.13%

    Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 150 $52,130,000 $347,533 $4,964 3.11%
    Not provided 29 $9,695,000 $334,310 $5,577 3.06%
    Black 10 $3,820,000 $382,000 $5,167 3.05%
    Asian 11 $3,615,000 $328,636 $4,443 2.98%
    American Indian 1 $515,000 $515,000 $9,074 2.75%
    Filipino 1 $325,000 $325,000 $5,735 2.75%

    Approval Rates

    Total approvals of all applications
    98.85%

    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
    75.74%

    Smart Choice Mortgage A Texas Limited Liability C has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 202 $70,100,000 $347,030

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 202 $70,100,000 $347,030

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $2,760,000 $153,333 $2,924 3.08%
    40-60% 24 $6,340,000 $264,167 $3,768 2.95%
    60-80% 72 $26,860,000 $373,056 $5,251 3.11%
    80-100% 81 $32,105,000 $396,358 $5,216 3.11%
    Over 100% 5 $1,845,000 $369,000 $14,056 3.30%
    Under 20% 2 $190,000 $95,000 $3,925 2.81%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Shea Mortgage Inc. Conventional home mortgage Unable to get your credit report or credit score 1 100.0%