America's Mortgage Resource Rates, Fees & InfoNEW ORLEANS, LA
Tax ID: 72-1333433
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewAmerica's Mortgage Resource is a smaller mortgage company specializing in Home Purchase and Refi loans. America's Mortgage Resource has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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, Baton Rouge, Gulfport, Hammond, and Houma among others. We have data for 9 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 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.24%||3/19/23|
|30 Year Conventional Purchase||6.39%||3/19/23|
|30 Year Conventional Refi||6.29%||3/19/23|
|30 Year Cash-out Refi||6.47%||3/19/23|
|30 Year FHA Purchase||7.11%||3/19/23|
|30 Year VA Purchase||6.17%||3/19/23|
|30 Year USDA Purchase||6.68%||3/19/23|
|15 Year Conventional Purchase||6.00%||3/19/23|
|15 Year Conventional Refi||5.94%||3/19/23|
|15 Year Cash-out Refi||5.94%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$100,510,000
America's Mortgage Resource's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.07%.
Relative Fees (Closing Costs)
America's Mortgage Resource's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,812.
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 $4,750.
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)||356||$94,760,000||$266,180||$3,782||2.96%|
|BATON ROUGE, LA (FHA|USDA|VA)||7||$2,605,000||$372,143||$2,985||3.00%|
|Outside of Metro Areas||4||$1,000,000||$250,000||$4,217||2.95%|
|GULFPORT-BILOXI, MS (FHA|USDA|VA)||2||$760,000||$380,000||$3,183||3.63%|
|HAMMOND, LA (FHA|USDA|VA)||5||$595,000||$119,000||$2,661||2.15%|
|HOUMA-THIBODAUX, LA (FHA|USDA|VA)||1||$525,000||$525,000||$5,149||3.13%|
|Bogalusa, LA (FHA|USDA|VA)||1||$175,000||$175,000||$6,522||2.75%|
|HATTIESBURG, MS (FHA|USDA|VA)||1||$45,000||$45,000||$0||2.55%|
|LAFAYETTE, LA (FHA|USDA|VA)||1||$45,000||$45,000||$0||2.00%|
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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For 2021, America's Mortgage Resource's most frequently originated type of loan was Conventional, with 301 originations. Their 2nd most popular type was FHA, with 33 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||40||$10,830,000||$270,750||$3,827||3.00%|
For 2021, America's Mortgage Resource's most frequently cited loan purpose was Home Purchase, with 216 originations. The 2nd most popular reason was Refi, with 86 originations.
For 2021, America's Mortgage Resource's most frequently cited loan duration was 30 Year, with 303 originations. The 2nd most popular length was Other, with 38 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
America's Mortgage Resource's average total fees were $3,812, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 199 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, America's Mortgage Resource's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 176 originations.
2021 saw America's Mortgage Resource place emphasis on $200k-400k loans with 191 originations, totaling $53,375,000 in origination value.
America's Mortgage Resource lent most frequently to those with incomes in the $50k or less range, with 139 originations. The second most popular income band? $100k-150k, with 60 originations.
Applicant Debt to Income Ratio
America's Mortgage Resource lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Approval RatesTotal approvals of all applications
America's Mortgage Resource has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
America's Mortgage Resource has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|AMERICAN PACIFIC MORTGAGE||FHA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||Conventional home mortgage||Trouble during payment process||21||75.0%|
|AMERICAN PACIFIC MORTGAGE||Conventional home mortgage||Closing on a mortgage||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||Conventional home mortgage||Incorrect information on your report||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||VA mortgage||Closing on a mortgage||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||Home equity loan or line of credit (HELOC)||Closing on a mortgage||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||FHA mortgage||Trouble during payment process||1||3.6%|
|AMERICAN PACIFIC MORTGAGE||FHA mortgage||Closing on a mortgage||1||3.6%|