America's Mortgage Resource Rates, Fees & Info
NEW ORLEANS, LALEI: 254900ZKF687G440AJ92
Tax ID: 72-1333433
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Mortgage Data
Review & Overview
America's Mortgage Resource is a smaller mortgage company specializing in Home Purchase loans. America's Mortgage Resource has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New Orleans, Hammond, Baton Rouge, Bogalusa, and Gulfport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)America's Mortgage Resource 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. America's Mortgage Resource 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.74% | 4/18/24 |
| 30 Year Conventional Refi | 5.33% | 4/18/24 |
| 30 Year Cash-out Refi | 5.94% | 4/18/24 |
| 30 Year FHA Purchase | 6.01% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 5.80% | 4/18/24 |
| 30 Year USDA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 4.95% | 4/18/24 |
| 15 Year Conventional Refi | 5.43% | 4/18/24 |
| 15 Year Cash-out Refi | 5.43% | 4/18/24 |
| 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. | ||
America's Mortgage Resource Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
118Origination Dollar Volume (All Markets)
$30,100,000Awards
America's Mortgage Resource - 2023
America's Mortgage Resource is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
America's Mortgage Resource's average 30 year fixed mortgage rate was
6.61%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
America's Mortgage Resource's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,541.
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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 105 | $28,195,000 | $268,524 | $5,646 | 6.64% |
| HAMMOND, LA (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $4,314 | 6.77% |
| BATON ROUGE, LA (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,738 | 5.27% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,779 | 6.75% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,199 | 6.88% |
| Picayune, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,216 | 6.75% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $4,435 | 6.76% |
Similar Lenders
We use machine learning to identify the top lenders compared against America's Mortgage Resource 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
For 2023, America's Mortgage Resource's most frequently originated type of loan was Conventional, with 77 originations. Their 2nd most popular type was FHA, with 35 originations.
Loan Reason
For 2023, America's Mortgage Resource's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Other, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 116 | $29,930,000 | $258,017 | $5,541 | 6.61% |
| 15 Year | 2 | $170,000 | $85,000 | $2,302 | 5.94% |
For 2023, America's Mortgage Resource's most frequently cited loan duration was 30 Year, with 116 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
America's Mortgage Resource's average total fees were $5,541, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 58 | $17,850,000 | $307,759 |
| 7-8% | 37 | $6,605,000 | $178,514 |
| 5-6% | 19 | $5,415,000 | $285,000 |
| <2.5% | 3 | $95,000 | $31,667 |
| Over 8% | 1 | $135,000 | $135,000 |
During 2023, America's Mortgage Resource's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was 6-7%, with 58 originations.
Loan Sizing
2023 saw America's Mortgage Resource place emphasis on $200k-400k loans with 51 originations, totaling $14,695,000 in origination value.
Applicant Income
America's Mortgage Resource lent most frequently to those with incomes in the $50k or less range, with 32 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
America's Mortgage Resource lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.40%
America's Mortgage Resource has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.88%
America's Mortgage Resource has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 118 | $30,100,000 | $255,085 |