American Mortgage Bank Rates, Fees & Info
OKLAHOMA CITY, OKLEI: 254900RFZH9I62FGU045
Tax ID: 46-4215283
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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% | 11/17/24 |
| 30 Year Conventional Refi | 6.10% | 11/17/24 |
| 30 Year Cash-out Refi | 6.71% | 11/17/24 |
| 30 Year FHA Purchase | 7.61% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 7.03% | 11/17/24 |
| 30 Year USDA Purchase | 6.51% | 11/17/24 |
| 15 Year Conventional Purchase | 6.58% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
237Origination Dollar Volume (All Markets)
$50,405,000Awards
American Mortgage Bank - 2023
American Mortgage Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 56
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Product Mix
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
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
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
2023 saw American Mortgage Bank place emphasis on $200k-400k loans with 100 originations, totaling $27,100,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications86.60%
American Mortgage Bank has an average approval rate.
Pick Rate
Approvals leading to origination65.40%
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 |