Amerifirst Bank Mortgage Rates, Fees & Info

MONTGOMERY, AL

LEI: 2549002AOWUCD3BSTP80

Tax ID: 63-0008380

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Mortgage Data

Review & Overview

Amerifirst Bank is a smaller bank specializing in Home Purchase and Refi loans. Amerifirst Bank has a high proportion of conventional loans. Their top markets by origination volume include: Montgomery, Auburn, Panama City, Daphne, and Mobile among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Amerifirst Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

79

Origination Dollar Volume (All Markets)

$22,805,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
MONTGOMERY, AL (FHA|USDA|VA) 53 $15,125,000 $285,377 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 9 $2,225,000 $247,222 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $1,055,000 $351,667 $0 0.00%
MOBILE, AL (FHA|USDA|VA) 2 $1,040,000 $520,000 $0 0.00%
Alexander City, AL (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $415,000 $138,333 $0 0.00%
Atmore, AL (FHA|USDA|VA) 3 $295,000 $98,333 $0 0.00%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Troy, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Outside of Metro Areas 1 $45,000 $45,000 $0 0.00%
Amerifirst Bank's top markets include Montgomery, Auburn, Panama City, Daphne, and Mobile among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $22,805,000 $288,671 $0 0.00%

    For 2023, Amerifirst Bank's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $15,625,000 $347,222 $0 0.00%
    Refi 29 $5,695,000 $196,379 $0 0.00%
    Other 4 $1,440,000 $360,000 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%

    For 2023, Amerifirst Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 79 $22,805,000 $288,671 $0 0.00%

    For 2023, Amerifirst Bank's most frequently cited loan duration was Other, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,635,000 $65,400 $0 0.00%
    $100k-200k 25 $3,405,000 $136,200 $0 0.00%
    $200k-400k 16 $4,440,000 $277,500 $0 0.00%
    $600k-1MM 6 $4,990,000 $831,667 $0 0.00%
    $400k-600k 4 $2,020,000 $505,000 $0 0.00%
    $1MM+ 3 $6,315,000 $2,105,000 $0 0.00%

    2023 saw Amerifirst Bank place emphasis on $100,000 or less loans with 25 originations, totaling $1,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $1,935,000 $129,000 $0 0.00%
    $250k+ 8 $1,760,000 $220,000 $0 0.00%
    $150k-250k 7 $1,825,000 $260,714 $0 0.00%
    $50k-75k 3 $1,495,000 $498,333 $0 0.00%
    $50k or less 2 $230,000 $115,000 $0 0.00%
    $75k-100k 1 $105,000 $105,000 $0 0.00%

    Amerifirst Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $250k+, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 79 $22,805,000 $288,671 $0 0.00%

    Amerifirst Bank lent most frequently to those with DTI ratios of Exempt%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 42 $15,290,000 $364,048 $0 0.00%
    White 33 $6,155,000 $186,515 $0 0.00%
    Asian 3 $1,315,000 $438,333 $0 0.00%
    Black 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.67%

    Amerifirst Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.61%

    Amerifirst Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 79 $22,805,000 $288,671

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    79 $22,805,000 $288,671