Texas Bay Mortgage Rates, Fees & Info
Houston, TXLEI: 549300Z4E78BSM0XM758
Tax ID: 74-1142852
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Mortgage Data
Review & Overview
Texas Bay is a smaller mortgage company specializing in Home Purchase loans. Texas Bay has a high proportion of conventional loans. Their top markets by origination volume include: Houston, El Campo, Brownwood, Port Lavaca, and Austin among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Texas Bay has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Texas Bay 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 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.
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 | 6.13% | 11/17/24 |
| 30 Year Conventional Refi | 7.19% | 11/17/24 |
| 30 Year Cash-out Refi | 5.91% | 11/17/24 |
| 30 Year FHA Purchase | 6.32% | 11/17/24 |
| 30 Year VA Purchase | 6.57% | 11/17/24 |
| 15 Year Conventional Purchase | 7.22% | 11/17/24 |
| 15 Year Conventional Refi | 6.20% | 11/17/24 |
| 15 Year Cash-out Refi | 6.20% | 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 Bay Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Texas Bay. 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
227Origination Dollar Volume (All Markets)
$31,065,000Relative Rate
Texas Bay's average 30 year fixed mortgage rate was
7.04%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.56%.
Relative Fees (Closing Costs)
Texas Bay's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,469.
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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 218 | $29,910,000 | $137,202 | $3,649 | 9.43% |
| El Campo, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,710 | 7.25% |
| Outside of Metro Areas | 3 | $255,000 | $85,000 | $4,452 | 7.50% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,703 | 6.50% |
| Port Lavaca, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,242 | 6.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $811 | 9.75% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $3,980 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEXAS BAY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 258
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 170 | $25,960,000 | $152,706 | $3,726 | 8.73% |
| HELOC | 57 | $5,105,000 | $89,561 | n/a | 11.26% |
For 2023, Texas Bay's most frequently originated type of loan was Conventional, with 170 originations. Their 2nd most popular type was HELOC, with 57 originations.
Loan Reason
For 2023, Texas Bay's most frequently cited loan purpose was Other, with 71 originations. The 2nd most popular reason was Home Improvement, with 62 originations.
Loan Duration/Length
For 2023, Texas Bay's most frequently cited loan duration was 20 Year, with 101 originations. The 2nd most popular length was 30 Year, with 52 originations.
Origination Fees/Closing Costs
Texas Bay's average total fees were $7,469, 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 |
|---|---|---|---|
| Over 8% | 149 | $12,325,000 | $82,718 |
| 6-7% | 47 | $12,745,000 | $271,170 |
| 7-8% | 25 | $4,205,000 | $168,200 |
| 5-6% | 6 | $1,790,000 | $298,333 |
During 2023, Texas Bay's average interest rate for loans was 7.04%, while their most frequently originated rate bucket for loans was Over 8%, with 149 originations.
Loan Sizing
2023 saw Texas Bay place emphasis on $100,000 or less loans with 122 originations, totaling $7,000,000 in origination value.
Applicant Income
Texas Bay lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $100k-150k, with 53 originations.
Applicant Debt to Income Ratio
Texas Bay lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications52.57%
Texas Bay has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination77.09%
Texas Bay has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 227 | $31,065,000 | $136,850 |