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US » Texas

Key Questions:

    1. How at risk is Texas to the subprime mortgage crisis?
    1. Loans taken out by home owners in Texas are within a +/- 10 percent band of the national average. That is to say, Texas will likely be affected by the subprime mortgage crisis just like the average county in the US.
    2. How stretched will home owners in Texas be in paying off their mortgage?
    1. Homeowners in Texas borrowed an average of 1.23 times their annual income for their mortgage. This compares to 1.83 for all of the US. Based on the national average, a significantly lower risk that Texas homeowners will default on their mortgage payments in the coming years.
    3. Who are the leading lenders in Texas?
    1. The leading lenders, by market share, are Countrywide Home Loans, Wells Fargo Bank, Na and Bank Of America, N.A.. Do you have the best rate possible? Get quotes from mortgage lenders.
    4. How likely are the owners of homes in Texas to actually live in them?
    1. 87.9% of home owners in Texas that applied for a mortgage in 2006 live in their homes versus owning them as an investment property. This compares to the national average of 89.0%.
2006 Mortgage Research Texas US
Total Applications 2,061,768 33,304,682
Average Loan $114.5k $184.9k
Loan to Income Ratio 1.23 1.83
Subprime Loans 11.95% 11.98%
Refinancing Loans 29.40% 50.05%
Principal Dwellings 87.86% 88.97%
Rejected Applications 13.60% 12.36%
Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 7.76% 159,924
2 Wells Fargo Bank, Na 4.27% 88,037
3 Bank Of America, N.A. 3.81% 78,656
4 Jpmorgan Chase Bank 3.45% 71,168
5 Nationstar Mortgage Llc 2.84% 58,513
6 Beneficial Company Llc 2.77% 57,130
7 Citimortgage, Inc 2.74% 56,552
8 Washington Mutual Bank 2.57% 52,929
9 Wells Fargo Funding, Inc 2.33% 48,008
10 Countrywide Bank, N.A. 2.13% 43,922
 

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