American Bank Of Commerce Mortgage Rates, Fees & Info

Wolfforth, TX

LEI: 5493006XE7ZLYUW25E11

Tax ID: 75-1095067

3.8 stars - Updated: 10/7/24 - out of 5 stars, based on 9 reviews

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

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Mortgage Data

Review & Overview

American Bank Of Commerce is a smaller bank specializing in Home Purchase loans. American Bank Of Commerce has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Dallas, Corpus Christi, Austin, Abilene, and Lubbock among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Bank Of Commerce 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 Bank Of Commerce is typically a high 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 6.86% 10/7/24
30 Year Conventional Refi 6.47% 10/7/24
30 Year Cash-out Refi 6.88% 10/7/24
30 Year FHA Purchase 7.33% 10/7/24
30 Year FHA Refi 6.27% 10/7/24
30 Year VA Purchase 6.54% 10/7/24
15 Year Conventional Purchase 6.46% 10/7/24
15 Year Conventional Refi 6.26% 10/7/24
15 Year Cash-out Refi 6.26% 10/7/24
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 Bank Of Commerce Mortgage Calculator






Your Estimates

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

This is not an official calculator from American Bank Of Commerce. 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

75

Origination Dollar Volume (All Markets)

$94,655,000

Awards

American Bank of Commerce FHA Loans bronze
Show all (1) awards

Relative Rate

American Bank Of Commerce's average 30 year fixed mortgage rate was 6.51%.

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

This yields a difference of 0.03%.

Relative Fees (Closing Costs)

American Bank Of Commerce's average total fees/closing costs for a 30 year fixed rate mortgage were $10,238.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 25 $56,535,000 $2,261,400 $13,302 6.84%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $14,725,000 $14,725,000 $0 8.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 8 $10,140,000 $1,267,500 $14,173 6.83%
ABILENE, TX (FHA|USDA|VA) 1 $4,095,000 $4,095,000 $0 8.25%
Outside of Metro Areas 9 $1,835,000 $203,889 $7,000 6.57%
LUBBOCK, TX (FHA|USDA|VA) 12 $1,770,000 $147,500 $5,164 6.78%
Mineral Wells, TX (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $0 7.15%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $780,000 $390,000 $12,852 6.31%
PUEBLO, CO (FHA|USDA|VA) 1 $485,000 $485,000 $21,306 5.75%
Athens, TX (FHA|USDA|VA) 3 $475,000 $158,333 $6,400 6.71%
Durango, CO (FHA|USDA|VA) 1 $475,000 $475,000 $11,206 6.75%
AMARILLO, TX (FHA|USDA|VA) 2 $440,000 $220,000 $10,571 6.63%
Gainesville, TX (FHA|USDA|VA) 1 $355,000 $355,000 $13,649 6.50%
Granbury, TX (FHA|USDA|VA) 1 $325,000 $325,000 $5,820 7.13%
Port Lavaca, TX (FHA|USDA|VA) 1 $245,000 $245,000 $6,213 7.13%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $245,000 $81,667 $0 8.67%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $175,000 $175,000 $5,514 7.38%
TYLER, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.50%
American Bank Of Commerce's top markets include Dallas, Corpus Christi, Austin, Abilene, and Lubbock among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    Southwest Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $87,490,000 $1,682,500 $6,981 7.19%
    FHA 19 $5,505,000 $289,737 $13,539 6.28%
    VA 4 $1,660,000 $415,000 $16,480 6.38%

    For 2023, American Bank Of Commerce's most frequently originated type of loan was Conventional, with 52 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 62 $92,240,000 $1,487,742 $10,206 6.82%
    Cash Out Refi 9 $1,855,000 $206,111 $11,031 7.28%
    Home Improvement 2 $120,000 $60,000 $0 8.73%
    Refi 2 $440,000 $220,000 $6,283 6.44%

    For 2023, American Bank Of Commerce's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $14,780,000 $263,929 $10,238 6.51%
    3 Year 6 $69,370,000 $11,561,667 $0 7.96%
    10 Year 5 $365,000 $73,000 $0 8.69%
    Other 4 $8,040,000 $2,010,000 $0 8.69%
    20 Year 2 $600,000 $300,000 $7,083 6.81%
    5 Year 2 $1,500,000 $750,000 $0 7.45%

    For 2023, American Bank Of Commerce's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 3 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 17 $6,015,000 $353,824
    $2k-3k 15 $3,775,000 $251,667
    $1k-2k 11 $2,105,000 $191,364
    $3k-4k 6 $1,510,000 $251,667
    $4k-5k 5 $1,565,000 $313,000
    $<1k 1 $65,000 $65,000

    American Bank Of Commerce's average total fees were $10,238, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 30 $29,800,000 $993,333
    7-8% 21 $23,445,000 $1,116,429
    5-6% 11 $3,535,000 $321,364
    Over 8% 11 $37,345,000 $3,395,000
    4-5% 2 $530,000 $265,000

    During 2023, American Bank Of Commerce's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 6-7%, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 30 $8,690,000 $289,667 $10,527 6.57%
    $100k-200k 17 $2,595,000 $152,647 $5,994 6.82%
    $100,000 or less 11 $785,000 $71,364 $3,176 7.78%
    $400k-600k 9 $4,485,000 $498,333 $18,083 6.35%
    $1MM+ 7 $77,355,000 $11,050,714 $0 7.77%
    $600k-1MM 1 $745,000 $745,000 $0 8.75%

    2023 saw American Bank Of Commerce place emphasis on $200k-400k loans with 30 originations, totaling $8,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $7,465,000 $324,565 $11,660 6.80%
    $50k-75k 13 $2,425,000 $186,538 $7,820 6.09%
    $75k-100k 9 $1,955,000 $217,222 $10,429 6.28%
    $150k-250k 7 $2,795,000 $399,286 $11,629 6.55%
    $50k or less 5 $395,000 $79,000 $4,491 7.20%
    $250k+ 2 $270,000 $135,000 $4,580 7.50%

    American Bank Of Commerce lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $50k-75k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 7 $2,395,000 $342,143 $17,186 5.75%
    30-36% 6 $1,510,000 $251,667 $10,042 6.54%
    20-30% 5 $975,000 $195,000 $4,714 7.07%
    47% 5 $965,000 $193,000 $8,961 6.08%
    43% 4 $1,050,000 $262,500 $9,531 6.90%
    42% 4 $970,000 $242,500 $8,925 6.94%
    44% 4 $890,000 $222,500 $7,248 7.19%
    46% 4 $730,000 $182,500 $6,077 6.72%
    48% 4 $1,320,000 $330,000 $10,498 6.50%
    >60% 3 $1,535,000 $511,667 $20,467 6.42%
    37% 3 $875,000 $291,667 $5,960 7.58%
    45% 3 $545,000 $181,667 $5,562 6.50%
    41% 2 $370,000 $185,000 $6,498 5.81%
    49% 2 $660,000 $330,000 $16,324 5.81%
    38% 1 $55,000 $55,000 $3,500 6.13%
    36% 1 $215,000 $215,000 $4,580 6.50%
    40% 1 $385,000 $385,000 $10,518 7.38%

    American Bank Of Commerce lent most frequently to those with DTI ratios of 50-60%, with 7 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 15 $79,155,000 $5,277,000 $0 8.23%
    White 43 $11,465,000 $266,628 $9,618 6.66%
    Black 9 $2,225,000 $247,222 $12,572 6.39%
    Not provided 6 $1,130,000 $188,333 $6,169 6.69%
    Asian 1 $565,000 $565,000 $28,393 5.25%
    American Indian 1 $115,000 $115,000 $7,917 6.38%

    Approval Rates

    Total approvals of all applications
    87.83%

    American Bank Of Commerce has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.33%

    American Bank Of Commerce 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 75 $94,655,000 $1,262,067

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    75 $94,655,000 $1,262,067

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $7,420,000 $1,236,667 $3,093 7.45%
    40-60% 10 $20,390,000 $2,039,000 $5,420 7.23%
    60-80% 18 $54,230,000 $3,012,778 $11,457 7.17%
    80-100% 38 $11,500,000 $302,632 $10,214 6.63%
    Over 100% 2 $1,060,000 $530,000 $25,097 6.25%
    Under 20% 1 $55,000 $55,000 $0 8.50%