Woodforest National Bank Mortgage Rates, Fees & Info
THE WOODLANDS, TXLEI: 549300RX3OHHKBC2EQ32
Tax ID: 74-2063218
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Mortgage Data
Review & Overview
Woodforest National Bank is a smaller bank specializing in Home Purchase and Refi loans. Woodforest National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Houston, and Hickory among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Woodforest National Bank 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.
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Originations
6Origination Dollar Volume (All Markets)
$13,220,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $13,060,000 | $3,265,000 | $0 | 4.56% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $13,185,000 | $2,637,000 | $0 | 4.65% |
| HELOC | 1 | $35,000 | $35,000 | n/a | 4.75% |
For 2018, Woodforest National Bank's most frequently originated type of loan was Conventional, with 5 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 3 | $9,335,000 | $3,111,667 | $0 | 4.80% |
| Refi | 2 | $3,850,000 | $1,925,000 | $0 | 4.41% |
| Home Improvement | 1 | $35,000 | $35,000 | $0 | 4.75% |
For 2018, Woodforest National Bank's most frequently cited loan purpose was Home Purchase, with 3 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 |
|---|---|---|---|---|---|
| 5 Year | 5 | $13,185,000 | $2,637,000 | $0 | 4.65% |
| Other | 1 | $35,000 | $35,000 | $0 | 4.75% |
For 2018, Woodforest National Bank's most frequently cited loan duration was 5 Year, with 5 originations. The 2nd most popular length was Other, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 6 | $13,220,000 | $2,203,333 |
During 2018, Woodforest National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 6 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 4 | $13,060,000 | $3,265,000 | $0 | 4.56% |
| $100,000 or less | 1 | $35,000 | $35,000 | $0 | 4.75% |
| $100k-200k | 1 | $125,000 | $125,000 | $0 | 5.00% |
2018 saw Woodforest National Bank place emphasis on $1MM+ loans with 4 originations, totaling $13,060,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $35,000 | $35,000 | $0 | 4.75% |
Woodforest National Bank lent most frequently to those with incomes in the $50k or less range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 38% | 1 | $35,000 | $35,000 | $0 | 4.75% |
Woodforest National Bank lent most frequently to those with DTI ratios of 38%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 5 | $13,185,000 | $2,637,000 | $0 | 4.65% |
| Not provided | 1 | $35,000 | $35,000 | $0 | 4.75% |
Approval Rates
Total approvals of all applications100.00%
Woodforest National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.33%
Woodforest National Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6 | $13,220,000 | $2,203,333 |