Texas Bank Financial Mortgage Interest Rate and Cost Review

Is Texas Bank Financial a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Texas Bank Financial with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratehigher than average (+0.65%)
Loan Related Closing Costshigher than average (+$495)
National Rate and Closing Cost Rating(1.0)
Websitehttps://www.texas-bank.com

On average, Texas Bank Financial’s interest rates were higher than those of other lenders (+0.65%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$495. Overall, combining interest rates and closing costs we estimate that Texas Bank Financial tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 1.0 out of 5.0 stars.

Texas Bank Financial’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Texas Bank Financial was most active in:

  1. Fort Worth, TX
  2. Dallas, TX
  3. Frisco, TX
  4. Sherman, TX
  5. Longview, TX

You can click through to check out Texas Bank Financial’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Texas Bank Financial’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Texas Bank Financial originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and USDA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.78%-0.04%+0.00%+0.04%+0.02%
Loan Related Closing Cost Difference+$665-$149-$14+$48-$26
Cost Adjusted Rate Difference+0.85%-0.06%+0.00%+0.04%+0.02%
Star Rating(1.0)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAUSDA
Interest Rate Difference+0.34%+0.02%+0.00%
Loan Related Closing Cost Difference-$74+$66+$0
Cost Adjusted Rate Difference+0.34%+0.03%+0.00%
Star Rating(2.0)(3.5)(3.5)

As a summary, Texas Bank Financial is cheap for FHA purchase mortgages. It is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, Texas Bank Financial is similar to other lenders for FHA and USDA mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Texas Bank Financial:

Registered name: Texas Bank Financial
Registered city and state: WEATHERFORD, TX, 76086
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: TEXAS BANC FINANCIAL CORPORATION

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Texas Bank Financial’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.