American Mortgage Bank Rates, Fees & Info

OKLAHOMA CITY, OK

LEI: 254900RFZH9I62FGU045

Tax ID: 46-4215283

4.7 stars - Updated: 12/4/24 - out of 5 stars, based on 15 reviews

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

Jump to:

Mortgage Data

Review & Overview

American Mortgage Bank is a smaller bank specializing in Home Purchase loans. American Mortgage Bank has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Oklahoma City, Lawton, Dallas, Kansas City, and Duncan among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Mortgage Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. American Mortgage Bank 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.88% 12/4/24
30 Year Conventional Refi 6.10% 12/4/24
30 Year Cash-out Refi 6.71% 12/4/24
30 Year FHA Purchase 7.61% 12/4/24
30 Year FHA Refi 6.27% 12/4/24
30 Year VA Purchase 7.03% 12/4/24
30 Year USDA Purchase 6.51% 12/4/24
15 Year Conventional Purchase 6.58% 12/4/24
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 Mortgage Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from American Mortgage Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

237

Origination Dollar Volume (All Markets)

$50,405,000

Awards

American Mortgage Bank VA Loans silver American Mortgage Bank VA Loans bronze
Show all (2) awards

Relative Rate

American Mortgage Bank's average 30 year fixed mortgage rate was 6.92%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.44%.

Relative Fees (Closing Costs)

American Mortgage Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $8,106.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
OKLAHOMA CITY, OK (FHA|USDA|VA) 153 $31,345,000 $204,869 $7,797 6.81%
LAWTON, OK (FHA|USDA|VA) 19 $3,385,000 $178,158 $5,935 7.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $3,160,000 $526,667 $14,677 6.94%
KANSAS CITY, MO-KS (FHA|USDA|VA) 13 $2,475,000 $190,385 $7,439 7.08%
Outside of Metro Areas 7 $1,405,000 $200,714 $6,942 7.13%
Duncan, OK (FHA|USDA|VA) 6 $990,000 $165,000 $6,832 7.19%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $870,000 $435,000 $14,672 7.13%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 5 $855,000 $171,000 $6,420 6.73%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $645,000 $215,000 $10,301 6.92%
Stillwater, OK (FHA|USDA|VA) 2 $630,000 $315,000 $14,506 7.13%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $520,000 $260,000 $6,114 7.06%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $510,000 $255,000 $8,857 6.25%
TULSA, OK (FHA|USDA|VA) 2 $460,000 $230,000 $15,078 6.69%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $315,000 $315,000 $12,700 7.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $305,000 $305,000 $18,453 6.25%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $295,000 $295,000 $13,266 6.25%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $295,000 $295,000 $11,372 6.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $290,000 $145,000 $4,272 6.81%
PANAMA CITY, FL (FHA|USDA|VA) 1 $265,000 $265,000 $10,648 7.38%
Altus, OK (FHA|USDA|VA) 1 $245,000 $245,000 $6,152 7.75%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $245,000 $245,000 $8,593 7.63%
Shawnee, OK (FHA|USDA|VA) 1 $225,000 $225,000 $6,132 6.63%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $215,000 $215,000 $9,358 7.13%
Lawrenceburg, TN (FHA|USDA|VA) 1 $155,000 $155,000 $10,352 7.13%
Beatrice, NE (FHA|USDA|VA) 1 $145,000 $145,000 $8,068 6.50%
LONGVIEW, TX (FHA|USDA|VA) 1 $85,000 $85,000 $3,998 7.50%
Weatherford, OK (FHA|USDA|VA) 1 $75,000 $75,000 $5,886 6.63%
American Mortgage Bank's top markets include Oklahoma City, Lawton, Dallas, Kansas City, and Duncan among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    MCT Credit Union
    Similarity Rank: 56
    EDUCATION FIRST
    Similarity Rank: 63
    MOBILOIL
    Similarity Rank: 90
    DSLD MORTGAGE, LLC
    Similarity Rank: 126
    TRUE SKY
    Similarity Rank: 144
    Vision Bank
    Similarity Rank: 154
    NECHES
    Similarity Rank: 186
    RCB Bank
    Similarity Rank: 216
    WEOKIE
    Similarity Rank: 220
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $22,000,000 $192,982 $5,993 6.85%
    FHA 96 $22,070,000 $229,896 $10,368 6.89%
    VA 24 $5,920,000 $246,667 $7,050 7.05%
    USDA 3 $415,000 $138,333 $5,524 7.25%

    For 2023, American Mortgage Bank's most frequently originated type of loan was Conventional, with 114 originations. Their 2nd most popular type was FHA, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 216 $46,300,000 $214,352 $7,968 6.88%
    Cash Out Refi 15 $3,005,000 $200,333 $10,055 6.93%
    Other 3 $345,000 $115,000 $5,596 7.25%
    Refi 3 $755,000 $251,667 $5,914 6.88%

    For 2023, American Mortgage Bank's most frequently cited loan purpose was Home Purchase, with 216 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 233 $50,005,000 $214,614 $8,106 6.92%
    10 Year 3 $15,000 $5,000 $22 5.00%
    15 Year 1 $385,000 $385,000 $7,286 6.38%

    For 2023, American Mortgage Bank's most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 10 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 77 $12,405,000 $161,104
    $5k+ 48 $16,550,000 $344,792
    $2k-3k 36 $6,720,000 $186,667
    $3k-4k 30 $6,100,000 $203,333
    $4k-5k 17 $4,995,000 $293,824
    $<1k 14 $2,050,000 $146,429

    American Mortgage Bank's average total fees were $8,106, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 77 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 117 $25,735,000 $219,957
    7-8% 98 $20,540,000 $209,592
    5-6% 14 $3,320,000 $237,143
    Over 8% 5 $795,000 $159,000
    4-5% 3 $15,000 $5,000

    During 2023, American Mortgage Bank's average interest rate for loans was 6.92%, while their most frequently originated rate bucket for loans was 6-7%, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 100 $27,100,000 $271,000 $9,714 6.94%
    $100k-200k 98 $14,380,000 $146,735 $5,883 6.90%
    $100,000 or less 25 $1,765,000 $70,600 $3,547 6.74%
    $400k-600k 11 $5,125,000 $465,909 $14,777 6.82%
    $600k-1MM 3 $2,035,000 $678,333 $16,486 6.63%

    2023 saw American Mortgage Bank place emphasis on $200k-400k loans with 100 originations, totaling $27,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $12,230,000 $174,714 $6,570 6.92%
    $75k-100k 57 $12,425,000 $217,982 $8,804 6.86%
    $50k or less 48 $6,730,000 $140,208 $5,749 6.72%
    $100k-150k 39 $10,695,000 $274,231 $10,077 7.08%
    $150k-250k 21 $7,665,000 $365,000 $12,448 6.92%
    $250k+ 2 $660,000 $330,000 $10,962 6.88%

    American Mortgage Bank lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $75k-100k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 42 $10,370,000 $246,905 $10,579 6.79%
    30-36% 34 $5,960,000 $175,294 $6,225 6.88%
    20-30% 20 $2,920,000 $146,000 $5,302 6.93%
    46% 14 $3,130,000 $223,571 $7,711 6.79%
    47% 12 $2,720,000 $226,667 $8,719 6.98%
    37% 12 $2,660,000 $221,667 $8,547 7.01%
    39% 12 $2,710,000 $225,833 $7,301 7.01%
    48% 11 $2,505,000 $227,727 $6,731 6.85%
    44% 11 $1,915,000 $174,091 $6,748 6.80%
    43% 10 $2,300,000 $230,000 $8,015 7.09%
    49% 9 $2,365,000 $262,778 $8,660 6.69%
    40% 9 $2,145,000 $238,333 $8,042 6.93%
    41% 8 $1,770,000 $221,250 $9,051 6.86%
    38% 8 $1,850,000 $231,250 $7,340 7.03%
    45% 7 $1,765,000 $252,143 $9,896 6.63%
    42% 7 $1,505,000 $215,000 $9,240 7.09%
    <20% 5 $605,000 $121,000 $5,002 6.90%
    36% 5 $985,000 $197,000 $8,154 7.28%
    >60% 1 $225,000 $225,000 $0 7.25%

    American Mortgage Bank lent most frequently to those with DTI ratios of 50-60%, with 42 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $35,285,000 $201,629 $7,782 6.89%
    Black 32 $7,600,000 $237,500 $8,568 6.95%
    Not provided 15 $3,245,000 $216,333 $8,292 6.99%
    American Indian 10 $2,500,000 $250,000 $8,911 6.85%
    Asian 5 $1,775,000 $355,000 $8,885 6.48%

    Approval Rates

    Total approvals of all applications
    86.60%

    American Mortgage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.40%

    American Mortgage Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 237 $50,405,000 $212,679

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    237 $50,405,000 $212,679

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $275,000 $91,667 $3,575 6.63%
    40-60% 3 $265,000 $88,333 $4,512 6.71%
    60-80% 37 $6,675,000 $180,405 $7,486 6.94%
    80-100% 187 $42,095,000 $225,107 $8,234 6.92%
    Over 100% 3 $955,000 $318,333 $15,171 7.13%
    Under 20% 4 $140,000 $35,000 $1,190 5.34%