American Financial Mortgage Corporation Rates, Fees & Info
Pittsburgh, PALEI: 254900C2WQ2VFP9M4K17
Tax ID: 25-1567314
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Mortgage Data
Review & Overview
American Financial Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. American Financial Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top (well, only) market is Pittsburgh.American Financial Mortgage Corporation has an above average approval rate when compared to the average across all lenders. American Financial Mortgage Corporation is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
American Financial Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
23Origination Dollar Volume (All Markets)
$4,385,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 22 | $4,160,000 | $189,091 | $6,368 | 2.89% |
| Outside of Metro Areas | 1 | $225,000 | $225,000 | $4,778 | 3.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against American Financial Mortgage Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 18 | $3,470,000 | $192,778 | $5,112 | 2.86% |
| FHA | 4 | $690,000 | $172,500 | $7,625 | 3.03% |
| VA | 1 | $225,000 | $225,000 | $4,778 | 3.00% |
For 2020, American Financial Mortgage Corporation's most frequently originated type of loan was Conventional, with 18 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2020, American Financial Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 18 | $3,540,000 | $196,667 | $6,373 | 2.94% |
| Other | 4 | $720,000 | $180,000 | $4,738 | 2.81% |
| 15 Year | 1 | $125,000 | $125,000 | $0 | 2.50% |
For 2020, American Financial Mortgage Corporation's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was Other, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 3 | $595,000 | $198,333 |
American Financial Mortgage Corporation's average total fees were $6,373, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 15 | $2,885,000 | $192,333 |
| 3-4% | 5 | $905,000 | $181,000 |
| <2.5% | 3 | $595,000 | $198,333 |
During 2020, American Financial Mortgage Corporation's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 15 originations.
Loan Sizing
2020 saw American Financial Mortgage Corporation place emphasis on $100k-200k loans with 15 originations, totaling $2,185,000 in origination value.
Applicant Income
American Financial Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $100k-150k, with 6 originations.
Applicant Debt to Income Ratio
American Financial Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $4,210,000 | $191,364 | $5,952 | 2.90% |
| Black | 1 | $175,000 | $175,000 | $8,111 | 2.75% |
Approval Rates
Total approvals of all applications100.00%
American Financial Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 23 | $4,385,000 | $190,652 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 23 | $4,385,000 | $190,652 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 1 | $105,000 | $105,000 | $0 | 2.88% |
| 60-80% | 7 | $1,335,000 | $190,714 | $5,033 | 2.91% |
| 80-100% | 15 | $2,945,000 | $196,333 | $6,337 | 2.89% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN FINANCIAL MORTGAGE COMPANY | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |