Texas Tech Mortgage Rates, Fees & Info
Lubbock, TXLEI: 549300U2B1ZNGX3H8U54
Tax ID: 75-1157852
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Texas Tech is a smaller mortgage company specializing in Home Purchase and Refi loans. Texas Tech has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Lubbock, Dallas, Austin, Houston, and Midland among others. We have data for 81 markets. (Some data included below & more in-depth data is available with an active subscription.)Texas Tech 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. Texas Tech 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.73% | 11/17/24 |
| 30 Year Conventional Refi | 6.50% | 11/17/24 |
| 30 Year Cash-out Refi | 6.72% | 11/17/24 |
| 30 Year FHA Purchase | 7.44% | 11/17/24 |
| 30 Year VA Purchase | 6.28% | 11/17/24 |
| 30 Year VA Refi | 6.18% | 11/17/24 |
| 15 Year Conventional Purchase | 6.66% | 11/17/24 |
| 15 Year Conventional Refi | 6.27% | 11/17/24 |
| 15 Year Cash-out Refi | 6.27% | 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. | ||
Texas Tech Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Texas Tech. 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
1,967Origination Dollar Volume (All Markets)
$429,985,000Awards
TEXAS TECH - 2020
TEXAS TECH is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for TEXAS TECH?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| LUBBOCK, TX (FHA|USDA|VA) | 1,414 | $296,180,000 | $209,463 | $3,961 | 3.14% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 205 | $52,415,000 | $255,683 | $3,076 | 4.39% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 52 | $13,040,000 | $250,769 | $3,004 | 4.58% |
| Outside of Metro Areas | 49 | $10,275,000 | $209,694 | $4,379 | 3.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 55 | $9,885,000 | $179,727 | $1,909 | 5.21% |
| MIDLAND, TX (FHA|USDA|VA) | 22 | $7,420,000 | $337,273 | $3,846 | 3.41% |
| Plainview, TX (FHA|USDA|VA) | 26 | $4,220,000 | $162,308 | $3,559 | 3.04% |
| Levelland, TX (FHA|USDA|VA) | 15 | $3,915,000 | $261,000 | $4,082 | 3.04% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 13 | $2,765,000 | $212,692 | $2,481 | 4.73% |
| AMARILLO, TX (FHA|USDA|VA) | 9 | $2,545,000 | $282,778 | $5,257 | 3.26% |
| Ruidoso, NM (FHA|USDA|VA) | 6 | $2,080,000 | $346,667 | $4,962 | 3.06% |
| ABILENE, TX (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $4,342 | 3.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $17,063 | 4.50% |
| TYLER, TX (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $3,114 | 3.31% |
| ODESSA, TX (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $6,916 | 3.33% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $6,160 | 3.50% |
| Hobbs, NM (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $4,241 | 2.84% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $2,826 | 3.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $2,297 | 4.31% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,950 | 3.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,638 | 4.56% |
| Athens, TX (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,922 | 2.81% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,821 | 2.75% |
| WACO, TX (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,189 | 2.67% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,429 | 3.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,245 | 2.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,690 | 2.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,887 | 2.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,460 | 5.13% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $5,719 | 4.88% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,412 | 2.88% |
| Branson, MO (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,505 | 4.75% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,767 | 3.06% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,504 | 2.88% |
| Clovis, NM (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,255 | 3.31% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,969 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,579 | 3.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,663 | 4.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,636 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,967 | 4.75% |
| Andrews, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,061 | 3.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,121 | 2.25% |
| Granbury, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,415 | 4.12% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,563 | 3.13% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,498 | 3.13% |
| Rockport, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,376 | 2.75% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,411 | 2.50% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,227 | 2.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,717 | 3.38% |
| Lamesa, TX (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,653 | 2.63% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,526 | 3.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,381 | 4.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,671 | 2.63% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,855 | 2.25% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,596 | 2.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,522 | 3.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,083 | 2.63% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,184 | 6.00% |
| Barre, VT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,186 | 3.50% |
| Brenham, TX (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,346 | 5.50% |
| Pampa, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,847 | 2.50% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,716 | 3.50% |
| Snyder, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,493 | 2.88% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,537 | 3.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,605 | 3.50% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,684 | 2.63% |
| Borger, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,270 | 2.75% |
| Hereford, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,715 | 3.88% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,199 | 2.75% |
| Starkville, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,070 | 2.63% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,722 | 3.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,778 | 2.13% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,144 | 3.00% |
| Garden City, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,337 | 2.25% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,905 | 3.50% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,783 | 5.49% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,554 | 2.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,119 | 6.50% |
| Bonham, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,194 | 5.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,978 | 2.88% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,009 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEXAS TECH based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 208
Similarity Rank: 208
Similarity Rank: 275
Similarity Rank: 350
Similarity Rank: 522
Similarity Rank: 657
Similarity Rank: 1449
Similarity Rank: 1480
Similarity Rank: 1824
Similarity Rank: 1832
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,752 | $388,330,000 | $221,650 | $3,453 | 3.43% |
| FHA | 179 | $32,125,000 | $179,469 | $6,463 | 3.12% |
| VA | 36 | $9,530,000 | $264,722 | $6,742 | 2.93% |
For 2020, Texas Tech's most frequently originated type of loan was Conventional, with 1,752 originations. Their 2nd most popular type was FHA, with 179 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,150 | $237,290,000 | $206,339 | $4,053 | 3.62% |
| Refi | 817 | $192,695,000 | $235,857 | $3,414 | 3.07% |
For 2020, Texas Tech's most frequently cited loan purpose was Home Purchase, with 1,150 originations. The 2nd most popular reason was Refi, with 817 originations.
Loan Duration/Length
For 2020, Texas Tech's most frequently cited loan duration was 30 Year, with 1,530 originations. The 2nd most popular length was 15 Year, with 357 originations.
Origination Fees/Closing Costs
Texas Tech's average total fees were $3,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,015 originations.
Interest Rates
During 2020, Texas Tech's average interest rate for loans was 3.46%, while their most frequently originated rate bucket for loans was 3-4%, with 710 originations.
Loan Sizing
2020 saw Texas Tech place emphasis on $100k-200k loans with 810 originations, totaling $123,090,000 in origination value.
Applicant Income
Texas Tech lent most frequently to those with incomes in the $100k-150k range, with 475 originations. The second most popular income band? $150k-250k, with 457 originations.
Applicant Debt to Income Ratio
Texas Tech lent most frequently to those with DTI ratios of 20-30%, with 488 originations. The next most common DTI ratio? 30-36%, with 409 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.83%
Texas Tech has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.71%
Texas Tech has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,967 | $429,985,000 | $218,599 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,967 | $429,985,000 | $218,599 |