Amerifirst Bank Mortgage Rates, Fees & Info

MONTGOMERY, AL

LEI: 2549002AOWUCD3BSTP80

Tax ID: 63-0008380

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Amerifirst Bank is a smaller bank specializing in Refi and Home Purchase loans. Amerifirst Bank has a high proportion of conventional loans. Their top markets by origination volume include: Montgomery, Lagrange, Selma, Auburn, and Nashville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    37

    Origination Dollar Volume (All Markets)

    $6,145,000

    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) 24 $2,850,000 $118,750 $0 0.00%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $875,000 $875,000 $0 0.00%
    Selma, AL (FHA|USDA|VA) 1 $835,000 $835,000 $0 0.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $560,000 $140,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    Outside of Metro Areas 4 $310,000 $77,500 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Troy, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Amerifirst Bank's top markets include Montgomery, Lagrange, Selma, Auburn, and Nashville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $6,145,000 $166,081 $0 0.00%

    For 2018, Amerifirst Bank's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 20 $2,980,000 $149,000 $0 0.00%
    Home Purchase 13 $1,535,000 $118,077 $0 0.00%
    Home Improvement 2 $1,060,000 $530,000 $0 0.00%
    Cash Out Refi 2 $570,000 $285,000 $0 0.00%

    For 2018, Amerifirst Bank's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $6,145,000 $166,081 $0 0.00%

    For 2018, Amerifirst Bank's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $755,000 $44,412 $0 0.00%
    $100k-200k 9 $1,235,000 $137,222 $0 0.00%
    $200k-400k 8 $2,020,000 $252,500 $0 0.00%
    $600k-1MM 2 $1,710,000 $855,000 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2018 saw Amerifirst Bank place emphasis on $100,000 or less loans with 17 originations, totaling $755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 4 $700,000 $175,000 $0 0.00%
    $250k+ 3 $665,000 $221,667 $0 0.00%
    $50k-75k 3 $345,000 $115,000 $0 0.00%
    $100k-150k 2 $360,000 $180,000 $0 0.00%
    $50k or less 2 $80,000 $40,000 $0 0.00%
    $75k-100k 1 $255,000 $255,000 $0 0.00%

    Amerifirst Bank lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $250k+, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $6,145,000 $166,081 $0 0.00%

    Amerifirst Bank lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 17 $3,355,000 $197,353 $0 0.00%
    White 16 $2,550,000 $159,375 $0 0.00%
    Asian 2 $200,000 $100,000 $0 0.00%
    Black 2 $40,000 $20,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.00%

    Amerifirst Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.89%

    Amerifirst Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $6,145,000 $166,081

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $270,000 $135,000
    Multifamily:Site-Built 2 $1,140,000 $570,000
    Single Family (1-4 Units):Manufactured 3 $205,000 $68,333
    Single Family (1-4 Units):Site-Built 30 $4,530,000 $151,000

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    AmeriFirst Financial Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%