American Financial Funding Corp. Mortgage Rates, Fees & Info

LEMONT, IL

LEI: 254900GLWBN0BE3PD014

Tax ID: 36-3935147

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
  • Similar Lenders
  • 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

    American Financial Funding Corp. is a smaller mortgage company specializing in Home Purchase and Refi loans. American Financial Funding Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Bloomington, Kankakee, Fort Wayne, and Evansville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    American Financial Funding Corp. 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. American Financial Funding Corp. is typically a low 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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    Originations

    178

    Origination Dollar Volume (All Markets)

    $46,160,000

    Awards

    American Financial Funding Corp. 30 Year Conventional Loans bronze American Financial Funding Corp. FHA Loans silver
    Show all (2) awards

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 174 $45,290,000 $260,287 $3,750 4.10%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $325,000 $325,000 $2,127 4.88%
    KANKAKEE, IL (FHA|USDA|VA) 1 $255,000 $255,000 $1,562 4.00%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $185,000 $185,000 $470 3.25%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $105,000 $105,000 $2,262 4.00%
    American Financial Funding Corp.'s top markets include Chicago, Bloomington, Kankakee, Fort Wayne, and Evansville among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against American Financial Funding Corp. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Liberty Bank for Savings
    Similarity Rank: 85
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    UNITED
    Similarity Rank: 498
    Southern Lkaes Credit Union
    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
    Similarity Rank: 856
    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 126 $32,530,000 $258,175 $2,698 4.14%
    FHA 48 $12,220,000 $254,583 $5,972 4.02%
    VA 4 $1,410,000 $352,500 $8,078 3.69%

    For 2019, American Financial Funding Corp.'s most frequently originated type of loan was Conventional, with 126 originations. Their 2nd most popular type was FHA, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $24,325,000 $256,053 $4,428 4.31%
    Refi 57 $15,625,000 $274,123 $2,423 3.74%
    Cash Out Refi 26 $6,210,000 $238,846 $3,855 4.12%

    For 2019, American Financial Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 159 $41,985,000 $264,057 $3,913 4.16%
    15 Year 13 $2,755,000 $211,923 $1,657 3.63%
    Other 4 $960,000 $240,000 $2,937 3.47%
    20 Year 2 $460,000 $230,000 $1,731 3.63%

    For 2019, American Financial Funding Corp.'s most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 134 $36,180,000 $270,000
    $<1k 25 $5,245,000 $209,800
    $2k-3k 8 $1,600,000 $200,000
    $3k-4k 6 $1,310,000 $218,333
    $5k+ 4 $1,360,000 $340,000
    $4k-5k 1 $465,000 $465,000

    American Financial Funding Corp.'s average total fees were $3,913, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 134 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 96 $26,360,000 $274,583
    4-5% 73 $18,425,000 $252,397
    5-6% 7 $725,000 $103,571
    2.5-3% 1 $175,000 $175,000
    7-8% 1 $475,000 $475,000

    During 2019, American Financial Funding Corp.'s average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 100 $28,310,000 $283,100 $3,937 3.96%
    $100k-200k 53 $8,195,000 $154,623 $2,830 4.17%
    $400k-600k 15 $6,945,000 $463,000 $5,687 4.35%
    $100,000 or less 7 $565,000 $80,714 $2,992 4.96%
    $600k-1MM 3 $2,145,000 $715,000 $2,987 4.00%

    2019 saw American Financial Funding Corp. place emphasis on $200k-400k loans with 100 originations, totaling $28,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $10,105,000 $206,224 $3,180 4.13%
    $100k-150k 48 $14,330,000 $298,542 $4,061 3.96%
    $75k-100k 37 $9,075,000 $245,270 $4,662 4.21%
    $150k-250k 25 $7,825,000 $313,000 $2,705 3.90%
    $50k or less 13 $1,715,000 $131,923 $2,510 4.28%
    $250k+ 6 $3,110,000 $518,333 $5,908 4.63%

    American Financial Funding Corp. lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $100k-150k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $8,880,000 $277,500 $3,130 4.05%
    30-36% 31 $6,695,000 $215,968 $2,472 4.02%
    <20% 16 $3,790,000 $236,875 $2,800 4.07%
    44% 14 $4,080,000 $291,429 $4,685 4.09%
    42% 11 $3,255,000 $295,909 $4,279 4.40%
    39% 10 $2,700,000 $270,000 $4,125 3.98%
    50-60% 9 $2,305,000 $256,111 $6,032 4.07%
    36% 9 $2,585,000 $287,222 $4,276 4.33%
    37% 8 $2,260,000 $282,500 $3,705 3.89%
    47% 7 $1,325,000 $189,286 $3,226 4.07%
    41% 6 $1,720,000 $286,667 $7,241 4.13%
    38% 6 $1,540,000 $256,667 $2,967 4.38%
    43% 5 $1,445,000 $289,000 $4,331 4.40%
    45% 4 $870,000 $217,500 $3,092 4.00%
    49% 3 $795,000 $265,000 $4,168 3.96%
    46% 2 $560,000 $280,000 $6,257 3.56%
    48% 2 $620,000 $310,000 $5,852 3.94%
    40% 2 $500,000 $250,000 $2,986 4.44%
    >60% 1 $235,000 $235,000 $470 4.75%

    American Financial Funding Corp. lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 145 $38,115,000 $262,862 $3,388 4.07%
    Black 29 $6,725,000 $231,897 $5,080 4.28%
    Asian 3 $955,000 $318,333 $2,547 3.75%
    Native Hawaiian or Islander 1 $365,000 $365,000 $12,729 4.25%

    Approval Rates

    Total approvals of all applications
    94.84%

    American Financial Funding Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.52%

    American Financial Funding Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 178 $46,160,000 $259,326

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 178 $46,160,000 $259,326

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $125,000 $125,000 $0 4.63%
    40-60% 13 $2,775,000 $213,462 $2,907 3.90%
    60-80% 56 $14,640,000 $261,429 $2,369 4.04%
    80-100% 107 $28,465,000 $266,028 $4,523 4.15%
    Over 100% 1 $155,000 $155,000 $4,563 4.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERICAN FINANCING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 100.0%