Texana Bank Mortgage Rates, Fees & Info
Linden, TXLEI: 549300RM1IZYGQDSNL85
Tax ID: 75-0269610
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Mortgage Data
Review & Overview
Texana Bank is a smaller bank specializing in Home Purchase and Refi loans. Texana Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Texarkana, Little Rock, Dallas, Longview, and Granbury among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Texana Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texana Bank 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 | 6.90% | 11/17/24 |
| 30 Year Conventional Refi | 6.50% | 11/17/24 |
| 30 Year Cash-out Refi | 6.75% | 11/17/24 |
| 30 Year FHA Purchase | 7.44% | 11/17/24 |
| 30 Year FHA Refi | 6.79% | 11/17/24 |
| 30 Year VA Purchase | 6.29% | 11/17/24 |
| 30 Year VA Refi | 5.83% | 11/17/24 |
| 30 Year USDA Purchase | 7.54% | 11/17/24 |
| 15 Year Conventional Purchase | 5.87% | 11/17/24 |
| 15 Year Conventional Refi | 6.03% | 11/17/24 |
| 15 Year Cash-out Refi | 6.03% | 11/17/24 |
| 15 Year FHA Refi | 5.68% | 11/17/24 |
| 15 Year VA Refi | 5.68% | 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. | ||
Texana Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Texana Bank. 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
61Origination Dollar Volume (All Markets)
$9,775,000Relative Rate
Texana Bank's average 30 year fixed mortgage rate was
6.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Texana Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,698.
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 |
|---|---|---|---|---|---|
| TEXARKANA, TX-AR (FHA|USDA|VA) | 26 | $3,120,000 | $120,000 | $0 | 8.31% |
| Outside of Metro Areas | 17 | $2,145,000 | $126,176 | $0 | 8.29% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $0 | 4.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $0 | 7.61% |
| LONGVIEW, TX (FHA|USDA|VA) | 5 | $735,000 | $147,000 | $0 | 7.79% |
| Granbury, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $12,454 | 7.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $18,130 | 7.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $21,266 | 6.88% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $13,267 | 6.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 7.50% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Texana Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 15
Similarity Rank: 45
Similarity Rank: 72
Similarity Rank: 93
Similarity Rank: 94
Similarity Rank: 104
Similarity Rank: 120
Similarity Rank: 144
Similarity Rank: 154
Similarity Rank: 162
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 58 | $8,840,000 | $152,414 | $12,454 | 8.09% |
| VA | 2 | $470,000 | $235,000 | $17,266 | 6.50% |
| FHA | 1 | $465,000 | $465,000 | $18,130 | 7.25% |
For 2023, Texana Bank's most frequently originated type of loan was Conventional, with 58 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2023, Texana Bank's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
For 2023, Texana Bank's most frequently cited loan duration was 5 Year, with 37 originations. The 2nd most popular length was Other, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 4 | $1,660,000 | $415,000 |
Texana Bank's average total fees were $15,698, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 33 | $4,315,000 | $130,758 |
| 7-8% | 21 | $2,735,000 | $130,238 |
| 6-7% | 4 | $1,450,000 | $362,500 |
| 3-4% | 1 | $965,000 | $965,000 |
| 5-6% | 1 | $135,000 | $135,000 |
During 2023, Texana Bank's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was Over 8%, with 33 originations.
Loan Sizing
2023 saw Texana Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,925,000 in origination value.
Applicant Income
Texana Bank lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 50-60% | 3 | $875,000 | $291,667 | $19,698 | 7.06% |
| 30-36% | 1 | $235,000 | $235,000 | $13,267 | 6.13% |
| 42% | 1 | $725,000 | $725,000 | $12,454 | 7.00% |
Texana Bank lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.63%
Texana Bank has a below average approval rate.
Pick Rate
Approvals leading to origination-1,527.87%
Texana Bank 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 | 61 | $9,775,000 | $160,246 |