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, Longview, and Lufkin among others. We have data for 4 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% | 11/21/24 |
| 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
9Origination Dollar Volume (All Markets)
$815,000Top 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) | 5 | $495,000 | $99,000 | $2,005 | 5.30% |
| Jacksonville, TX (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $1,850 | 5.75% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,521 | 5.00% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,840 | 5.00% |
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 | 9 | $815,000 | $90,556 | $2,009 | 5.33% |
For 2020, Ab Community Investment Company's most frequently originated type of loan was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 9 | $815,000 | $90,556 | $2,009 | 5.33% |
For 2020, Ab Community Investment Company's most frequently cited loan purpose was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 8 | $760,000 | $95,000 | $2,049 | 5.38% |
| 20 Year | 1 | $55,000 | $55,000 | $1,688 | 5.00% |
For 2020, Ab Community Investment Company's most frequently cited loan duration was 30 Year, with 8 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 | 9 | $815,000 | $90,556 |
Ab Community Investment Company's average total fees were $2,049, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 7 | $565,000 | $80,714 |
| 6-7% | 2 | $250,000 | $125,000 |
During 2020, Ab Community Investment Company's average interest rate for loans was 5.38%, while their most frequently originated rate bucket for loans was 4-5%, with 7 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 6 | $420,000 | $70,000 | $1,841 | 5.25% |
| $100k-200k | 3 | $395,000 | $131,667 | $2,346 | 5.50% |
2020 saw Ab Community Investment Company place emphasis on $100,000 or less loans with 6 originations, totaling $420,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 6 | $460,000 | $76,667 | $1,854 | 5.25% |
| $50k-75k | 3 | $355,000 | $118,333 | $2,321 | 5.50% |
Ab Community Investment Company lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Ab Community Investment Company lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 9 | $815,000 | $90,556 | $2,009 | 5.33% |
Approval Rates
Total approvals of all applications100.00%
Ab Community Investment Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination44.44%
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 | 9 | $815,000 | $90,556 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 9 | $815,000 | $90,556 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 9 | $815,000 | $90,556 | $2,009 | 5.33% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Apex Mortgage LLC | VA mortgage | Trouble during payment process | 1 | 100.0% |