Ab Community Investment Company Mortgage Rates, Fees & Info
LONGVIEW, TXLEI: 5493007W3FAWZ3EYNP10
Tax ID: 83-0368926
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Mortgage Data
Review & Overview
Ab Community Investment Company is a smaller mortgage company specializing in Home Purchase loans. Ab Community Investment Company has a high proportion of conventional loans. Their top markets by origination volume include: Tyler, Longview, and Jacksonville among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Ab Community Investment Company 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. Ab Community Investment Company 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 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 | 7.08% | 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. | ||
Ab Community Investment Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4Origination Dollar Volume (All Markets)
$590,000Relative Rate
Ab Community Investment Company's average 30 year fixed mortgage rate was
7.17%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.69%.
Relative Fees (Closing Costs)
Ab Community Investment Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,583.
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 |
|---|---|---|---|---|---|
| TYLER, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,820 | 7.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,109 | 7.50% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,324 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against AB COMMUNITY INVESTMENT COMPANY 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 4 | $590,000 | $147,500 | $2,518 | 7.19% |
For 2023, Ab Community Investment Company's most frequently originated type of loan was Conventional, with 4 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 4 | $590,000 | $147,500 | $2,518 | 7.19% |
For 2023, Ab Community Investment Company's most frequently cited loan purpose was Home Purchase, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3 | $515,000 | $171,667 | $2,583 | 7.17% |
| 20 Year | 1 | $75,000 | $75,000 | $2,324 | 7.25% |
For 2023, Ab Community Investment Company's most frequently cited loan duration was 30 Year, with 3 originations. The 2nd most popular length was 20 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 4 | $590,000 | $147,500 |
Ab Community Investment Company's average total fees were $2,583, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 3 | $405,000 | $135,000 |
| 6-7% | 1 | $185,000 | $185,000 |
During 2023, Ab Community Investment Company's average interest rate for loans was 7.17%, while their most frequently originated rate bucket for loans was 7-8%, with 3 originations.
Loan Sizing
2023 saw Ab Community Investment Company place emphasis on $100,000 or less loans with 2 originations, totaling $160,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 3 | $345,000 | $115,000 | $2,370 | 7.17% |
| $50k-75k | 1 | $245,000 | $245,000 | $2,964 | 7.25% |
Ab Community Investment Company lent most frequently to those with incomes in the $50k or less range, with 3 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
Ab Community Investment Company lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 43%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4 | $590,000 | $147,500 | $2,518 | 7.19% |
Approval Rates
Total approvals of all applications87.50%
Ab Community Investment Company has an average approval rate.
Pick Rate
Approvals leading to origination25.00%
Ab Community Investment Company 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 | 4 | $590,000 | $147,500 |