Texas Bay Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300Z4E78BSM0XM758

Tax ID: 74-1142852

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Texas Bay is a smaller mortgage company specializing in Refi and Home Purchase loans. Texas Bay has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, Lufkin, and Austin among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Texas Bay 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. 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 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
30 Year Conventional Purchase	6.13%	12/16/24
30 Year Conventional Refi	7.19%	12/16/24
30 Year Cash-out Refi	5.91%	12/16/24
30 Year FHA Purchase	6.32%	12/16/24
30 Year VA Purchase	6.57%	12/16/24
15 Year Conventional Purchase	7.22%	12/16/24
15 Year Conventional Refi	6.20%	12/16/24
15 Year Cash-out Refi	6.20%	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.

Texas Bay Mortgage Calculator

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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

427

Origination Dollar Volume (All Markets)

$61,935,000

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	422	$61,130,000	$144,858	$4,319	3.70%
Outside of Metro Areas	2	$300,000	$150,000	$5,100	2.88%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$205,000	$205,000	$5,673	3.13%
Lufkin, TX (FHA\|USDA\|VA)	1	$205,000	$205,000	$6,700	2.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$4,048	2.63%

Texas Bay's top markets include Houston, Dallas, Lufkin, and Austin among others.

Their top states include:

Texas (FHA|USDA|VA)

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.

AAXY L.L.C.
Similarity Rank: 522

SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
Similarity Rank: 1140

U S WIDE FINANCIAL LLC
Similarity Rank: 1140

WESTSTAR MORTGAGE CORPORATION
Similarity Rank: 1265

CADENCE LENDING GROUP, INC.
Similarity Rank: 1480

CAPITAL PLUS FINANCIAL, LLC
Similarity Rank: 1508

ADVISA MORTGAGE SERVICES, LTD.
Similarity Rank: 1524

MEMBERS CHOICE Credit Union
Similarity Rank: 1824

Shea Mortgage Inc.
Similarity Rank: 1848

ASSOCIATED CREDIT UNION OF TEXAS
Similarity Rank: 1895

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	427	$61,935,000	$145,047	$4,331	3.69%

For 2020, Texas Bay's most frequently originated type of loan was Conventional, with 427 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	195	$28,985,000	$148,641	$5,000	3.02%
Home Purchase	106	$19,150,000	$180,660	$5,958	3.61%
Cash Out Refi	53	$8,135,000	$153,491	$3,726	4.54%
Other	48	$4,140,000	$86,250	$654	5.10%
Home Improvement	25	$1,525,000	$61,000	$560	4.83%

For 2020, Texas Bay's most frequently cited loan purpose was Refi, with 195 originations. The 2nd most popular reason was Home Purchase, with 106 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	129	$18,175,000	$140,891	$4,724	3.28%
30 Year	127	$25,555,000	$201,220	$6,160	3.32%
20 Year	78	$9,840,000	$126,154	$2,703	4.50%
10 Year	49	$3,155,000	$64,388	$2,142	4.36%
Other	27	$4,515,000	$167,222	$5,067	3.76%
5 Year	17	$695,000	$40,882	$297	3.92%

For 2020, Texas Bay's most frequently cited loan duration was 15 Year, with 129 originations. The 2nd most popular length was 30 Year, with 127 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$2k-3k	132	$19,380,000	$146,818
$<1k	105	$7,575,000	$72,143
$1k-2k	82	$7,780,000	$94,878
$3k-4k	77	$16,845,000	$218,766
$4k-5k	26	$8,390,000	$322,692
$5k+	5	$1,965,000	$393,000

Texas Bay's average total fees were $6,160, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 132 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	167	$26,965,000	$161,467
3-4%	153	$26,265,000	$171,667
4-5%	63	$5,585,000	$88,651
6-7%	17	$1,125,000	$66,176
Over 8%	15	$855,000	$57,000
5-6%	8	$670,000	$83,750
<2.5%	3	$415,000	$138,333
7-8%	1	$55,000	$55,000

During 2020, Texas Bay's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 2.5-3%, with 167 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	180	$26,240,000	$145,778	$4,691	3.33%
$100,000 or less	152	$9,830,000	$64,671	$2,122	4.48%
$200k-400k	91	$23,995,000	$263,681	$7,110	3.11%
$400k-600k	4	$1,870,000	$467,500	$8,878	3.59%

2020 saw Texas Bay place emphasis on $100k-200k loans with 180 originations, totaling $26,240,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	114	$19,850,000	$174,123	$4,859	3.57%
$50k-75k	103	$13,185,000	$128,010	$4,240	3.56%
$75k-100k	88	$12,090,000	$137,386	$4,286	3.71%
$150k-250k	59	$10,785,000	$182,797	$4,707	3.73%
$50k or less	58	$5,090,000	$87,759	$3,099	4.12%
$250k+	5	$935,000	$187,000	$4,817	3.49%

Texas Bay lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $50k-75k, with 103 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	104	$15,310,000	$147,212	$4,289	3.62%
20-30%	95	$12,565,000	$132,263	$3,938	3.94%
<20%	31	$2,955,000	$95,323	$2,718	4.03%
37%	24	$3,500,000	$145,833	$3,616	4.84%
44%	22	$4,110,000	$186,818	$5,503	3.21%
39%	22	$3,510,000	$159,545	$4,805	3.46%
43%	22	$3,500,000	$159,091	$5,093	3.49%
41%	20	$3,020,000	$151,000	$4,841	3.49%
38%	18	$2,930,000	$162,778	$4,793	3.40%
42%	13	$1,875,000	$144,231	$4,646	3.13%
36%	12	$1,620,000	$135,000	$4,068	3.43%
40%	11	$2,005,000	$182,273	$5,094	3.37%
46%	10	$1,470,000	$147,000	$5,193	3.18%
47%	7	$765,000	$109,286	$4,356	3.94%
45%	5	$1,025,000	$205,000	$6,265	3.15%
48%	5	$765,000	$153,000	$5,652	3.18%
49%	5	$925,000	$185,000	$5,762	3.20%
50-60%	1	$85,000	$85,000	$200	4.79%

Texas Bay lent most frequently to those with DTI ratios of 30-36%, with 104 originations. The next most common DTI ratio? 20-30%, with 95 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	331	$45,875,000	$138,595	$4,183	3.74%
Not provided	47	$7,805,000	$166,064	$5,502	3.14%
Black	30	$4,460,000	$148,667	$3,844	4.08%
Asian	12	$2,720,000	$226,667	$5,175	3.52%
American Indian	5	$685,000	$137,000	$3,113	4.47%
Other Asian	1	$225,000	$225,000	$7,192	3.63%
Native Hawaiian or Islander	1	$165,000	$165,000	$6,228	2.75%

Approval Rates

Total approvals of all applications
72.19%

Texas Bay has a below average approval rate.

Pick Rate

Approvals leading to origination
42.62%

Texas Bay 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	427	$61,935,000	$145,047

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	427	$61,935,000	$145,047

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	49	$3,045,000	$62,143	$1,886	4.09%
40-60%	82	$8,250,000	$100,610	$3,658	3.54%
60-80%	156	$26,110,000	$167,372	$4,718	3.74%
80-100%	116	$23,620,000	$203,621	$6,104	3.32%
Under 20%	24	$910,000	$37,917	$535	4.86%