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 two markets are Tyler and Jacksonville .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% | 5/4/24 |
| 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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5Origination Dollar Volume (All Markets)
$675,000Top 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) | 4 | $520,000 | $130,000 | $2,304 | 5.38% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,485 | 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 | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
For 2022, Ab Community Investment Company's most frequently originated type of loan was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
For 2022, Ab Community Investment Company's most frequently cited loan purpose was Home Purchase, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
For 2022, Ab Community Investment Company's most frequently cited loan duration was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $675,000 | $135,000 |
Ab Community Investment Company's average total fees were $2,340, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 4 | $570,000 | $142,500 |
| 6-7% | 1 | $105,000 | $105,000 |
During 2022, Ab Community Investment Company's average interest rate for loans was 5.30%, while their most frequently originated rate bucket for loans was 4-5%, with 4 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
2022 saw Ab Community Investment Company place emphasis on $100k-200k loans with 5 originations, totaling $675,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
Ab Community Investment Company lent most frequently to those with incomes in the $50k or less range, with 5 originations.
Applicant Debt to Income Ratio
Ab Community Investment Company lent most frequently to those with DTI ratios of 30-36%, with 2 originations. The next most common DTI ratio? 44%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 5 | $675,000 | $135,000 | $2,340 | 5.30% |
Approval Rates
Total approvals of all applications81.82%
Ab Community Investment Company has a below average approval rate.
Pick Rate
Approvals leading to origination40.00%
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 | 5 | $675,000 | $135,000 |