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, Jacksonville, and Longview 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 above 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% | 11/22/24 |
| 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
24Origination Dollar Volume (All Markets)
$1,440,000Awards
AB COMMUNITY INVESTMENT COMPANY - 2018
AB COMMUNITY INVESTMENT COMPANY is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| TYLER, TX (FHA|USDA|VA) | 17 | $1,125,000 | $66,176 | $2,645 | 6.54% |
| Jacksonville, TX (FHA|USDA|VA) | 4 | $180,000 | $45,000 | $2,078 | 6.56% |
| LONGVIEW, TX (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $2,208 | 6.83% |
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 | 24 | $1,440,000 | $60,000 | $2,496 | 6.58% |
For 2018, Ab Community Investment Company's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 23 | $1,435,000 | $62,391 | $2,576 | 6.59% |
| Home Improvement | 1 | $5,000 | $5,000 | $648 | 6.50% |
For 2018, Ab Community Investment Company's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
For 2018, Ab Community Investment Company's most frequently cited loan duration was 30 Year, with 19 originations. The 2nd most popular length was 20 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $510,000 | $42,500 |
| $1k-2k | 12 | $930,000 | $77,500 |
Ab Community Investment Company's average total fees were $2,594, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 22 | $1,340,000 | $60,909 |
| 5-6% | 2 | $100,000 | $50,000 |
During 2018, Ab Community Investment Company's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 6-7%, with 22 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $1,315,000 | $57,174 | $2,457 | 6.58% |
| $100k-200k | 1 | $125,000 | $125,000 | $3,402 | 6.75% |
2018 saw Ab Community Investment Company place emphasis on $100,000 or less loans with 23 originations, totaling $1,315,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 21 | $1,305,000 | $62,143 | $2,508 | 6.60% |
| $50k-75k | 2 | $80,000 | $40,000 | $2,359 | 6.75% |
Ab Community Investment Company lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
Ab Community Investment Company lent most frequently to those with DTI ratios of 20-30%, 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 |
|---|---|---|---|---|---|
| White | 23 | $1,385,000 | $60,217 | $2,522 | 6.57% |
| Not provided | 1 | $55,000 | $55,000 | $1,905 | 7.00% |
Approval Rates
Total approvals of all applications90.00%
Ab Community Investment Company has an average approval rate.
Pick Rate
Approvals leading to origination87.50%
Ab Community Investment Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 24 | $1,440,000 | $60,000 |