Ameritrust Mortgage Corporation Rates, Fees & Info
CRYSTAL LAKE, ILLEI: 549300A5HHOL2ED18C72
Tax ID: 36-3390401
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Mortgage Data
Review & Overview
Ameritrust Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Ameritrust Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Sevierville, Chicago, Savannah, Minneapolis, and Columbia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Ameritrust Mortgage Corporation 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. Ameritrust Mortgage Corporation is typically a high 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 | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year FHA Purchase | 6.50% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6Origination Dollar Volume (All Markets)
$1,700,000Top 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 |
|---|---|---|---|---|---|
| Sevierville, TN (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 9.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $17,025 | 5.50% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 10.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.13% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $1,335,000 | $267,000 | $0 | 8.28% |
| FHA | 1 | $365,000 | $365,000 | $17,025 | 5.50% |
For 2022, Ameritrust Mortgage Corporation's most frequently originated type of loan was Conventional, with 5 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 4 | $1,440,000 | $360,000 | $17,025 | 7.91% |
| Refi | 1 | $155,000 | $155,000 | $0 | 7.13% |
| Cash Out Refi | 1 | $105,000 | $105,000 | $0 | 8.13% |
For 2022, Ameritrust Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 4 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 6 | $1,700,000 | $283,333 | $17,025 | 7.81% |
For 2022, Ameritrust Mortgage Corporation's most frequently cited loan duration was 30 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 1 | $365,000 | $365,000 |
Ameritrust Mortgage Corporation's average total fees were $17,025, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 3 | $1,035,000 | $345,000 |
| 5-6% | 1 | $365,000 | $365,000 |
| 6-7% | 1 | $145,000 | $145,000 |
| 7-8% | 1 | $155,000 | $155,000 |
During 2022, Ameritrust Mortgage Corporation's average interest rate for loans was 7.81%, while their most frequently originated rate bucket for loans was Over 8%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 3 | $405,000 | $135,000 | $0 | 7.21% |
| $200k-400k | 2 | $660,000 | $330,000 | $17,025 | 8.00% |
| $600k-1MM | 1 | $635,000 | $635,000 | $0 | 9.25% |
2022 saw Ameritrust Mortgage Corporation place emphasis on $100k-200k loans with 3 originations, totaling $405,000 in origination value.
Applicant Income
Ameritrust Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 2 originations. The second most popular income band? $75k-100k, with 2 originations.
Applicant Debt to Income Ratio
Ameritrust Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $935,000 | $311,667 | $0 | 7.58% |
| Not provided | 3 | $765,000 | $255,000 | $17,025 | 8.04% |
Approval Rates
Total approvals of all applications77.78%
Ameritrust Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination83.33%
Ameritrust Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6 | $1,700,000 | $283,333 |