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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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: San Antonio, Austin, Houston, Dallas, and El Paso among others. We have data for 5 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 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

    137

    Origination Dollar Volume (All Markets)

    $57,855,000

    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
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 78 $33,160,000 $425,128 $11,125 4.97%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 47 $18,945,000 $403,085 $7,116 4.81%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 9 $4,195,000 $466,111 $6,975 5.07%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $920,000 $460,000 $13,369 3.94%
    EL PASO, TX (FHA|USDA|VA) 1 $635,000 $635,000 $7,672 4.25%
    Smart Choice Mortgage A Texas Limited Liability C's top markets include San Antonio, Austin, Houston, Dallas, and El Paso 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.

    PRIMEWAY
    Similarity Rank: 249
    Generations Community Federal Credit Union
    Similarity Rank: 264
    AMOCO
    Similarity Rank: 510
    Texas Health Credit Union
    Similarity Rank: 552
    TEXAS BAY
    Similarity Rank: 957
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 1074
    A+ Federal Credit Union
    Similarity Rank: 1584
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1644
    AUSTIN TELCO Federal Credit Union
    Similarity Rank: 1830
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 1850

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $46,220,000 $405,439 $8,611 4.98%
    VA 23 $11,635,000 $505,870 $13,876 4.48%

    For 2022, Smart Choice Mortgage A Texas Limited Liability C's most frequently originated type of loan was Conventional, with 114 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 136 $57,750,000 $424,632 $9,541 4.91%
    Cash Out Refi 1 $105,000 $105,000 $4,260 4.13%

    For 2022, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $56,435,000 $430,802 $9,750 4.93%
    15 Year 3 $735,000 $245,000 $3,252 3.67%
    20 Year 3 $685,000 $228,333 $4,986 4.75%

    For 2022, Smart Choice Mortgage A Texas Limited Liability C's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 67 $30,485,000 $455,000
    $<1k 36 $14,370,000 $399,167
    $2k-3k 11 $3,685,000 $335,000
    $1k-2k 10 $3,520,000 $352,000
    $4k-5k 8 $3,390,000 $423,750
    $3k-4k 5 $2,405,000 $481,000

    Smart Choice Mortgage A Texas Limited Liability C's average total fees were $9,750, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 41 $18,425,000 $449,390
    5-6% 41 $15,655,000 $381,829
    3-4% 27 $11,685,000 $432,778
    6-7% 18 $7,770,000 $431,667
    2.5-3% 7 $2,995,000 $427,857
    7-8% 3 $1,325,000 $441,667

    During 2022, Smart Choice Mortgage A Texas Limited Liability C's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 69 $33,155,000 $480,507 $10,058 4.92%
    $200k-400k 48 $15,720,000 $327,500 $8,107 4.92%
    $600k-1MM 12 $7,890,000 $657,500 $15,705 4.81%
    $100k-200k 8 $1,090,000 $136,250 $3,587 4.72%

    2022 saw Smart Choice Mortgage A Texas Limited Liability C place emphasis on $400k-600k loans with 69 originations, totaling $33,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 59 $26,505,000 $449,237 $9,252 5.00%
    $100k-150k 41 $17,805,000 $434,268 $11,314 4.89%
    $75k-100k 16 $5,660,000 $353,750 $8,025 4.81%
    $250k+ 13 $6,335,000 $487,308 $8,894 4.71%
    $50k-75k 6 $1,340,000 $223,333 $5,642 4.80%
    $50k or less 2 $210,000 $105,000 $5,117 4.50%

    Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $100k-150k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 30 $12,580,000 $419,333 $8,983 4.78%
    20-30% 23 $9,225,000 $401,087 $10,198 4.69%
    50-60% 7 $3,545,000 $506,429 $9,761 4.92%
    38% 7 $3,135,000 $447,857 $7,581 4.96%
    41% 6 $2,720,000 $453,333 $7,725 4.77%
    46% 6 $2,530,000 $421,667 $9,626 5.67%
    49% 6 $2,800,000 $466,667 $12,843 5.19%
    45% 6 $2,710,000 $451,667 $11,797 4.18%
    36% 6 $1,540,000 $256,667 $5,651 4.87%
    37% 6 $2,160,000 $360,000 $9,693 3.85%
    47% 5 $2,135,000 $427,000 $10,403 5.42%
    42% 5 $2,275,000 $455,000 $12,320 5.08%
    44% 5 $2,175,000 $435,000 $13,354 5.23%
    48% 5 $2,065,000 $413,000 $6,992 5.48%
    43% 4 $1,620,000 $405,000 $6,504 5.47%
    <20% 3 $1,045,000 $348,333 $5,275 4.63%
    40% 3 $1,455,000 $485,000 $3,966 5.38%
    39% 2 $930,000 $465,000 $4,536 5.50%
    >60% 2 $1,210,000 $605,000 $26,816 5.39%

    Smart Choice Mortgage A Texas Limited Liability C lent most frequently to those with DTI ratios of 30-36%, with 30 originations. The next most common DTI ratio? 20-30%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $36,785,000 $404,231 $9,041 5.02%
    Not provided 17 $8,465,000 $497,941 $12,997 4.33%
    Asian 13 $4,995,000 $384,231 $5,330 4.87%
    Black 9 $4,365,000 $485,000 $12,446 5.12%
    Asian Indian 2 $1,110,000 $555,000 $9,896 3.94%
    Filipino 2 $770,000 $385,000 $13,117 3.81%
    American Indian 1 $535,000 $535,000 $13,865 4.88%
    Native Hawaiian or Islander 1 $455,000 $455,000 $5,409 5.25%
    Vietnamese 1 $375,000 $375,000 $11,011 5.63%

    Approval Rates

    Total approvals of all applications
    98.86%

    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
    16.79%

    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 137 $57,855,000 $422,299

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    137 $57,855,000 $422,299

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,380,000 $198,333 $4,708 4.68%
    40-60% 15 $4,835,000 $322,333 $5,999 5.01%
    60-80% 45 $19,615,000 $435,889 $10,542 4.82%
    80-100% 63 $30,235,000 $479,921 $9,985 4.97%
    Over 100% 1 $685,000 $685,000 $52,840 5.00%
    Under 20% 1 $105,000 $105,000 $2 5.13%