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 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 5.74% | 9/1/24 |
30 Year Conventional Refi | 5.33% | 9/1/24 |
30 Year Cash-out Refi | 5.94% | 9/1/24 |
30 Year FHA Purchase | 6.01% | 9/1/24 |
30 Year FHA Refi | 6.27% | 9/1/24 |
30 Year VA Purchase | 5.80% | 9/1/24 |
30 Year USDA Purchase | 6.27% | 9/1/24 |
15 Year Conventional Purchase | 4.95% | 9/1/24 |
15 Year Conventional Refi | 5.43% | 9/1/24 |
15 Year Cash-out Refi | 5.43% | 9/1/24 |
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
378Origination Dollar Volume (All Markets)
$100,510,000America's Mortgage Resource - 2021
America's Mortgage Resource is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 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% |
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 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
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.
Loan Duration/Length
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
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.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 176 | $48,670,000 | $276,534 |
3-4% | 138 | $40,280,000 | $291,884 |
<2.5% | 56 | $9,740,000 | $173,929 |
4-5% | 8 | $1,820,000 | $227,500 |
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.
Loan Sizing
2021 saw America's Mortgage Resource place emphasis on $200k-400k loans with 191 originations, totaling $53,375,000 in origination value.
Applicant Income
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.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.52%
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 origination76.46%
America's Mortgage Resource has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 378 | $100,510,000 | $265,899 |
LTV Distribution
Complaints
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% |