Is Austin Capital Bank Ssb An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Austin Capital Bank Ssb with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.16%)
Loan Related Closing Costs: higher than average (+$735)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Austin Capital Bank Ssb originated 484 mortgages, a national market share of 0.0%. It was most active in TN (0.1% market share), TX (0.1% market share), and MS (0.0% market share).

On average, Austin Capital Bank Ssb’s interest rates were higher than those of comparable mortgages at other lenders (+0.16%).1The comparable mortgages control for Austin Capital Bank Ssb’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $6136, which was higher than those of comparable mortgages at $5401, with a difference of +$735. Overall, we estimate that Austin Capital Bank Ssb tends to be an expensive lender, with a cost-adjusted-rate difference of +0.22% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Austin Capital Bank Ssb.

Austin Capital Bank Ssb originated Conforming, FHA and VA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Austin Capital Bank Ssb compared to other lenders

Conforming FHA VA
Interest Rate Difference +0.15% +0.16% +0.22%
Loan related Closing Cost Difference +$676 +$568 +$1328
Cost Adjusted Rate Difference +0.21% +0.21% +0.30%

Based on the table above, Austin Capital Bank Ssb is more expensive than other lenders for Conforming, FHA and VA purchase mortgages.

Other information about Austin Capital Bank Ssb:

Regulator: Federal Deposit Insurance Corporation (FDIC) 
Registered city and state: AUSTIN, TX, 78757

Footnotes   [ + ]

1. The comparable mortgages control for Austin Capital Bank Ssb’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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