Zapata Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Zapata averaged
7.18%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7.02% and
one month ago for the week of 2023-08-10, the
average rate was 6.96%.
Zapata's average rate one year ago was 5.89%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.78%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Zapata 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Zapata 30 Year Fixed Rate Refi | 2023-09-14 | 7.78% |
| Zapata 15 Year Fixed Rate | 2023-09-14 | 6.71% |
| Zapata 15 Year Fixed Rate Refi | 2023-09-14 | 6.81% |
| Zapata 30 Year FHA | 2023-09-14 | 6.99% |
| Zapata 30 Year FHA Refi | 2023-09-14 | 7.19% |
| Zapata 30 Year USDA | 2023-09-14 | 6.98% |
| Zapata 30 Year USDA Refi | 2023-09-14 | 7.18% |
| Zapata 30 Year VA | 2023-09-14 | 6.81% |
| Zapata 30 Year VA Refi | 2023-09-14 | 6.81% |
Zapata Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Zapata, TX market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
| Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| LEADERONE FINANCIAL CORPORATION | 6 | 5.48% | $7,280 |
| Gateway First Bank | 4 | 4.97% | $5,681 |
| QUICKEN LOANS, LLC | 4 | 5.53% | $7,023 |
| JPMorgan Chase Bank | 1 | 3.75% | $3,745 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 5.37% | $9,144 |
| THRIVE MORTGAGE, LLC | 1 | 6.38% | $4,868 |
Zapata Average Closing Costs & Other Stats
Zapata, TX's 6 lenders originated 70
loans during 2022. The total origination value was $10,270,000, with an average loan value of
$146,714.
Zapata's average closing costs are $5,833.
The top Zapata lender as defined by loan originations is LEADERONE FINANCIAL CORPORATION, with
6 loans originated. Their average total fees are
$7,280, which is $1,599
higher than the next largest lender,
Gateway First Bank.
The lowest fee Zapata lenders (with over 10 loans originated) are
.
The lowest rate Zapata lenders (with over 10 loans originated) are
.
Zapata, TX Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| LEADERONE FINANCIAL CORPORATION | $1,210,000 | $2,450,000 | 102.5% | 23.9% |
| Gateway First Bank | $2,365,000 | $2,205,000 | -6.8% | 21.5% |
| QUICKEN LOANS, LLC | $625,000 | $1,055,000 | 68.8% | 10.3% |
| 21ST MORTGAGE CORPORATION | $790,000 | $625,000 | -20.9% | 6.1% |
| BM Real Estate Services, Inc. | $540,000 | n/a | 5.3% | |
| VAN DYK MORTGAGE CORPORATION | $450,000 | n/a | 4.4% | |
| International Bank of Commerce | $55,000 | $355,000 | 545.5% | 3.5% |
| PENNYMAC LOAN SERVICES, LLC | $155,000 | $250,000 | 61.3% | 2.4% |
| FREEDOM MORTGAGE CORPORATION | $265,000 | $245,000 | -7.5% | 2.4% |
| Mortgage Research Center, LLC | $135,000 | $245,000 | 81.5% | 2.4% |
| Texas Community Bank | $240,000 | n/a | 2.3% | |
| SOUTHWEST STAGE FUNDING, LLC | $155,000 | n/a | 1.5% | |
| THE MORTGAGE LINK, INC. | $155,000 | n/a | 1.5% | |
| SECURITY SERVICE | $165,000 | $150,000 | -9.1% | 1.5% |
| Chicago Mortgage Solutions LLC | $145,000 | n/a | 1.4% | |
| RANDOLPH-BROOKS | $145,000 | n/a | 1.4% | |
| Flagstar Bank, FSB | $255,000 | $125,000 | -51.0% | 1.2% |
| MORTGAGE FINANCIAL SERVICES, LLC | $300,000 | $125,000 | -58.3% | 1.2% |
| LOANDEPOT.COM, LLC | $595,000 | $115,000 | -80.7% | 1.1% |
| AMERICAN FINANCING CORPORATION | $95,000 | n/a | 0.9% | |
| JPMorgan Chase Bank | $95,000 | n/a | 0.9% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $95,000 | n/a | 0.9% | |
| Wells Fargo Bank | $270,000 | $75,000 | -72.2% | 0.7% |
| Bank of America | $55,000 | n/a | 0.5% | |
| THRIVE MORTGAGE, LLC | $45,000 | n/a | 0.4% | |
| Rio Bank | $35,000 | n/a | 0.3% |
Zapata's top lender by overall market share is LEADERONE FINANCIAL CORPORATION, with 23.9% market share. In second place, with 21.5%, is Gateway First Bank, having originated $2,205,000 in loans. In third place, with 10.3%, is QUICKEN LOANS, LLC, having originated $1,055,000 in loans. In fourth place, with 6.1%, is 21ST MORTGAGE CORPORATION, having originated $625,000 in loans. In fifth place, with 5.3%, is BM Real Estate Services, Inc., having originated $540,000 in loans.
Zapata, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 42 | $5,560,000 | $132,381 |
| Refi | 13 | $2,815,000 | $216,538 |
| Cash Out Refi | 10 | $1,380,000 | $138,000 |
| Other | 3 | $285,000 | $95,000 |
| Home Improvement | 2 | $230,000 | $115,000 |
Zapata's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 13 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 15 | $2,785,000 | $185,667 |
| 5-6% | 14 | $2,740,000 | $195,714 |
| 6-7% | 10 | $1,680,000 | $168,000 |
| 3-4% | 10 | $1,440,000 | $144,000 |
| <2.5% | 6 | $170,000 | $28,333 |
| Over 8% | 5 | $545,000 | $109,000 |
| 7-8% | 4 | $340,000 | $85,000 |
| 2.5-3% | 3 | $295,000 | $98,333 |
During 2022, Zapata's most frequently originated rate bucket was 4-5%, with 15 originations.
Loan Sizing (Zapata, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 28 | $1,830,000 | $65,357 |
| $100k-200k | 24 | $3,550,000 | $147,917 |
| $200k-400k | 18 | $4,890,000 | $271,667 |
Zapata's loan sizing saw the bucket of loans from $100,000 or less with 28 originations, totaling $1,830,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 37 | $6,365,000 | $172,027 |
| 60-80% | 13 | $2,035,000 | $156,538 |
| 40-60% | 6 | $960,000 | $160,000 |
| 20-40% | 5 | $365,000 | $73,000 |
| Under 20% | 5 | $25,000 | $5,000 |
| Over 100% | 1 | $245,000 | $245,000 |
Zapata's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 37 originations, totaling $6,365,000 in origination value.