Zapata Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Zapata averaged
6.44%
for the week of 2024-10-24, compared to the national average of
6.54% for the same period.
The average rate for the prior week (2024-10-17) was
6.24% and
one month ago for the week of 2024-09-19, the
average rate was 6.09%.
Zapata's average rate one year ago was 7.73%.
For refis of the same type during the week of 2024-10-24, the average rate
was 6.44%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
Zapata 30 Year Fixed Rate | 2024-10-24 | 6.44% |
Zapata 30 Year Fixed Rate Refi | 2024-10-24 | 6.44% |
Zapata 15 Year Fixed Rate | 2024-10-24 | 5.71% |
Zapata 15 Year Fixed Rate Refi | 2024-10-24 | 5.71% |
Zapata 30 Year FHA | 2024-10-24 | 6.35% |
Zapata 30 Year FHA Refi | 2024-10-24 | 6.05% |
Zapata 30 Year USDA | 2024-10-24 | 6.09% |
Zapata 30 Year USDA Refi | 2024-10-24 | 6.49% |
Zapata 30 Year VA | 2024-10-24 | 5.94% |
Zapata 30 Year VA Refi | 2024-10-24 | 6.24% |
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
LEADERONE FINANCIAL CORPORATION | 4 | 6.81% | $10,759 |
Gateway First Bank | 2 | 6.06% | $5,497 |
PENNYMAC LOAN SERVICES, LLC | 2 | 6.19% | $9,434 |
International Bank of Commerce | 2 | 6.13% | $6,267 |
JPMorgan Chase Bank | 2 | 7.19% | $5,590 |
Wells Fargo Bank | 1 | 5.63% | $5,050 |
Paramount Residential Mortgage Group, Inc. | 1 | 6.50% | $6,361 |
SECURITY SERVICE | 1 | 7.00% | $3,449 |
THRIVE MORTGAGE, LLC | 1 | 6.25% | $5,598 |
DEEPHAVEN MORTGAGE LLC | 1 | 7.75% | $13,355 |
Zapata Average Closing Costs & Other Stats
Zapata, TX's 10 lenders originated 62
loans during 2023. The total origination value was $10,340,000, with an average loan value of
$166,774.
Zapata's average closing costs are $6,376.
The top Zapata lender as defined by loan originations is LEADERONE FINANCIAL CORPORATION, with
4 loans originated. Their average total fees are
$10,759, which is $5,263
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
Gateway First Bank | $2,205,000 | $2,005,000 | -9.1% | 19.4% |
LEADERONE FINANCIAL CORPORATION | $2,450,000 | $1,345,000 | -45.1% | 13.0% |
First Option Mortgage, LLC | $1,235,000 | n/a | 11.9% | |
21ST MORTGAGE CORPORATION | $625,000 | $740,000 | 18.4% | 7.2% |
PENNYMAC LOAN SERVICES, LLC | $250,000 | $690,000 | 176.0% | 6.7% |
International Bank of Commerce | $355,000 | $535,000 | 50.7% | 5.2% |
JPMorgan Chase Bank | $95,000 | $400,000 | 321.1% | 3.9% |
WILLOW BEND MORTGAGE COMPANY, LLC | $395,000 | n/a | 3.8% | |
DEEPHAVEN MORTGAGE LLC | $335,000 | n/a | 3.2% | |
Bank of America | $55,000 | $295,000 | 436.4% | 2.9% |
TRIAD FINANCIAL SERVICES, INC. | $240,000 | n/a | 2.3% | |
Paramount Residential Mortgage Group, Inc. | $225,000 | n/a | 2.2% | |
Regions Bank | $215,000 | n/a | 2.1% | |
LOANDEPOT.COM, LLC | $115,000 | $205,000 | 78.3% | 2.0% |
NAVY ARMY COMMUNITY CREDIT UNION | $185,000 | n/a | 1.8% | |
FirstBank | $180,000 | n/a | 1.7% | |
QUICKEN LOANS, LLC | $1,055,000 | $175,000 | -83.4% | 1.7% |
HOMESIDE FINANCIAL, LLC | $155,000 | n/a | 1.5% | |
MOVEMENT MORTGAGE, LLC | $155,000 | n/a | 1.5% | |
THRIVE MORTGAGE, LLC | $45,000 | $145,000 | 222.2% | 1.4% |
AMCAP MORTGAGE, LTD. | $135,000 | n/a | 1.3% | |
SECURITY SERVICE | $150,000 | $125,000 | -16.7% | 1.2% |
Wells Fargo Bank | $75,000 | $105,000 | 40.0% | 1.0% |
SOUTHWEST STAGE FUNDING, LLC | $155,000 | $85,000 | -45.2% | 0.8% |
RANDOLPH-BROOKS | $145,000 | $35,000 | -75.9% | 0.3% |
Zapata's top lender by overall market share is Gateway First Bank, with 19.4% market share. In second place, with 13.0%, is LEADERONE FINANCIAL CORPORATION, having originated $1,345,000 in loans. In third place, with 11.9%, is First Option Mortgage, LLC, having originated $1,235,000 in loans. In fourth place, with 7.2%, is 21ST MORTGAGE CORPORATION, having originated $740,000 in loans. In fifth place, with 6.7%, is PENNYMAC LOAN SERVICES, LLC, having originated $690,000 in loans.
Zapata, TX Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 45 | $6,125,000 | $136,111 |
Refi | 11 | $3,055,000 | $277,727 |
Cash Out Refi | 6 | $1,160,000 | $193,333 |
Zapata's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 11 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 20 | $4,140,000 | $207,000 |
Over 8% | 14 | $1,710,000 | $122,143 |
5-6% | 11 | $2,195,000 | $199,545 |
7-8% | 11 | $2,265,000 | $205,909 |
<2.5% | 6 | $30,000 | $5,000 |
During 2023, Zapata's most frequently originated rate bucket was 6-7%, with 20 originations.
Loan Sizing (Zapata, TX MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$200k-400k | 24 | $6,400,000 | $266,667 |
$100,000 or less | 20 | $1,080,000 | $54,000 |
$100k-200k | 17 | $2,445,000 | $143,824 |
$400k-600k | 1 | $415,000 | $415,000 |
Zapata's loan sizing saw the bucket of loans from $200k-400k with 24 originations, totaling $6,400,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 47 | $8,645,000 | $183,936 |
60-80% | 8 | $1,580,000 | $197,500 |
Under 20% | 6 | $30,000 | $5,000 |
Over 100% | 1 | $85,000 | $85,000 |
Zapata's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 47 originations, totaling $8,645,000 in origination value.