Ameritrust Mortgage Corporation Rates, Fees & Info

CRYSTAL LAKE, IL

LEI: 549300A5HHOL2ED18C72

Tax ID: 36-3390401

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Ameritrust Mortgage Corporation is a smaller mortgage company specializing in Refi and Home Purchase loans. Ameritrust Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Chicago and Rockford .

    Ameritrust Mortgage Corporation has an above average approval rate when compared to the average across all lenders. Ameritrust Mortgage Corporation 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 about average 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 6.27% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    30 Year FHA Purchase 6.50% 12/16/24
    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.

    Ameritrust Mortgage Corporation Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Ameritrust Mortgage Corporation. 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

    91

    Origination Dollar Volume (All Markets)

    $18,275,000
    Show all (5) awards

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 89 $17,775,000 $199,719 $3,030 3.07%
    ROCKFORD, IL (FHA|USDA|VA) 1 $275,000 $275,000 $3,508 2.75%
    Outside of Metro Areas 1 $225,000 $225,000 $3,109 2.25%
    Ameritrust Mortgage Corporation's top markets include Chicago and Rockford among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    Liberty Bank for Savings
    Similarity Rank: 312
    Glenview State Bank
    Similarity Rank: 312
    Chaffey Federal Credit Union
    Similarity Rank: 345
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    ALTURA
    Similarity Rank: 628
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    Christian Community Credit Union
    Similarity Rank: 716
    The Equitable Bank, S.S.B.
    Similarity Rank: 820
    RUHL MORTGAGE, LLC
    Similarity Rank: 988
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $15,500,000 $203,947 $2,551 3.05%
    FHA 12 $2,100,000 $175,000 $5,488 3.10%
    VA 3 $675,000 $225,000 $5,512 2.83%

    For 2020, Ameritrust Mortgage Corporation's most frequently originated type of loan was Conventional, with 76 originations. Their 2nd most popular type was FHA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 54 $11,290,000 $209,074 $2,253 2.96%
    Home Purchase 19 $3,805,000 $200,263 $5,960 3.23%
    Cash Out Refi 18 $3,180,000 $176,667 $2,301 3.15%

    For 2020, Ameritrust Mortgage Corporation's most frequently cited loan purpose was Refi, with 54 originations. The 2nd most popular reason was Home Purchase, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 69 $14,375,000 $208,333 $3,314 3.11%
    15 Year 15 $2,735,000 $182,333 $2,107 2.69%
    20 Year 4 $710,000 $177,500 $2,438 3.47%
    Other 3 $455,000 $151,667 $2,090 2.96%

    For 2020, Ameritrust Mortgage Corporation's most frequently cited loan duration was 30 Year, with 69 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 84 $16,930,000 $201,548
    $1k-2k 3 $515,000 $171,667
    $2k-3k 2 $340,000 $170,000
    $3k-4k 2 $490,000 $245,000

    Ameritrust Mortgage Corporation's average total fees were $3,314, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 42 $8,540,000 $203,333
    3-4% 34 $6,680,000 $196,471
    <2.5% 12 $2,660,000 $221,667
    4-5% 2 $310,000 $155,000
    5-6% 1 $85,000 $85,000

    During 2020, Ameritrust Mortgage Corporation's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 53 $8,075,000 $152,358 $2,781 3.12%
    $200k-400k 33 $8,715,000 $264,091 $3,493 2.84%
    $400k-600k 3 $1,315,000 $438,333 $2,053 3.29%
    $100,000 or less 2 $170,000 $85,000 $3,738 4.38%

    2020 saw Ameritrust Mortgage Corporation place emphasis on $100k-200k loans with 53 originations, totaling $8,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $6,660,000 $222,000 $3,144 3.05%
    $50k-75k 18 $2,930,000 $162,778 $3,178 2.97%
    $150k-250k 15 $3,595,000 $239,667 $2,254 3.09%
    $75k-100k 14 $2,550,000 $182,143 $2,870 2.99%
    $50k or less 11 $1,505,000 $136,818 $3,918 3.28%
    $250k+ 3 $1,035,000 $345,000 $2,565 2.83%

    Ameritrust Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $5,915,000 $219,074 $2,721 3.16%
    30-36% 19 $3,725,000 $196,053 $3,271 2.95%
    <20% 10 $1,560,000 $156,000 $2,166 2.98%
    42% 8 $1,550,000 $193,750 $2,905 2.92%
    39% 5 $1,195,000 $239,000 $2,951 3.00%
    40% 5 $905,000 $181,000 $3,597 3.20%
    44% 4 $600,000 $150,000 $4,219 3.06%
    36% 3 $655,000 $218,333 $2,366 2.58%
    43% 3 $455,000 $151,667 $3,282 4.04%
    38% 3 $625,000 $208,333 $5,077 2.83%
    41% 2 $610,000 $305,000 $1,828 2.69%
    45% 1 $315,000 $315,000 $8,241 3.50%
    37% 1 $165,000 $165,000 $2,103 3.00%

    Ameritrust Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $17,790,000 $202,159 $2,994 3.05%
    Asian 2 $320,000 $160,000 $5,365 3.25%
    Not provided 1 $165,000 $165,000 $2,113 3.25%

    Approval Rates

    Total approvals of all applications
    97.85%

    Ameritrust Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 91 $18,275,000 $200,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 91 $18,275,000 $200,824

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 12 $2,180,000 $181,667 $2,056 2.99%
    60-80% 43 $8,845,000 $205,698 $2,607 3.03%
    80-100% 35 $7,115,000 $203,286 $3,838 3.12%
    Over 100% 1 $135,000 $135,000 $5,187 2.75%