American Mortgage & Equity Consultants Rates, Fees & Info
Bloomington, MNLEI: 549300AENO88GEUWCZ39
Tax ID: 41-1941324
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Mortgage Data
Review & Overview
American Mortgage & Equity Consultants is a small mortgage company specializing in Home Purchase and Refi loans. American Mortgage & Equity Consultants has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Green Bay, Dallas, San Diego, and Madison among others. We have data for 115 markets. (Some data included below & more in-depth data is available with an active subscription.)American Mortgage & Equity Consultants 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. American Mortgage & Equity Consultants 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 | 6.73% | 4/22/24 |
| 30 Year Conventional Refi | 6.54% | 4/22/24 |
| 30 Year Cash-out Refi | 6.79% | 4/22/24 |
| 30 Year FHA Purchase | 7.73% | 4/22/24 |
| 30 Year FHA Refi | 7.16% | 4/22/24 |
| 30 Year VA Purchase | 6.51% | 4/22/24 |
| 30 Year VA Refi | 5.85% | 4/22/24 |
| 30 Year USDA Purchase | 6.90% | 4/22/24 |
| 30 Year USDA Refi | 5.93% | 4/22/24 |
| 15 Year Conventional Purchase | 6.43% | 4/22/24 |
| 15 Year Conventional Refi | 5.81% | 4/22/24 |
| 15 Year Cash-out Refi | 5.81% | 4/22/24 |
| 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. | ||
American Mortgage & Equity Consultants Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,751Origination Dollar Volume (All Markets)
$1,260,625,000Awards
American Mortgage & Equity Consultants - 2020
American Mortgage & Equity Consultants is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3,207 | $906,895,000 | $282,786 | $4,451 | 3.52% |
| Outside of Metro Areas | 279 | $53,415,000 | $191,452 | $4,155 | 3.59% |
| GREEN BAY, WI (FHA|USDA|VA) | 159 | $31,615,000 | $198,836 | $3,293 | 3.52% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 109 | $28,555,000 | $261,972 | $5,705 | 3.61% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 50 | $22,420,000 | $448,400 | $4,614 | 3.52% |
| MADISON, WI (FHA|USDA|VA) | 68 | $16,970,000 | $249,559 | $3,541 | 3.54% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 72 | $14,670,000 | $203,750 | $6,436 | 3.79% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 38 | $13,810,000 | $363,421 | $3,414 | 3.49% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 55 | $12,085,000 | $219,727 | $4,772 | 3.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 40 | $11,670,000 | $291,750 | $5,718 | 3.50% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 57 | $11,275,000 | $197,807 | $4,455 | 3.61% |
| ROCHESTER, MN (FHA|USDA|VA) | 47 | $10,985,000 | $233,723 | $5,165 | 3.34% |
| Owatonna, MN (FHA|USDA|VA) | 59 | $10,925,000 | $185,169 | $4,477 | 3.56% |
| Brainerd, MN (FHA|USDA|VA) | 50 | $10,820,000 | $216,400 | $4,573 | 3.53% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 47 | $10,065,000 | $214,149 | $4,058 | 3.72% |
| ST. CLOUD, MN (FHA|USDA|VA) | 28 | $6,480,000 | $231,429 | $3,909 | 3.55% |
| APPLETON, WI (FHA|USDA|VA) | 30 | $6,360,000 | $212,000 | $3,640 | 3.58% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 17 | $5,865,000 | $345,000 | $4,905 | 3.90% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 13 | $5,245,000 | $403,462 | $4,103 | 3.67% |
| DULUTH, MN-WI (FHA|USDA|VA) | 20 | $4,470,000 | $223,500 | $4,335 | 3.56% |
| Grand Rapids, MN (FHA|USDA|VA) | 21 | $3,785,000 | $180,238 | $4,126 | 3.52% |
| Aberdeen, SD (FHA|USDA|VA) | 21 | $3,075,000 | $146,429 | $5,140 | 3.74% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 15 | $2,775,000 | $185,000 | $2,964 | 3.59% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 10 | $2,580,000 | $258,000 | $5,947 | 3.91% |
| Red Wing, MN (FHA|USDA|VA) | 13 | $2,495,000 | $191,923 | $4,401 | 3.59% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 8 | $2,430,000 | $303,750 | $4,861 | 3.95% |
| MANKATO, MN (FHA|USDA|VA) | 9 | $1,975,000 | $219,444 | $4,668 | 3.49% |
| Stevens Point, WI (FHA|USDA|VA) | 9 | $1,945,000 | $216,111 | $3,125 | 3.47% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $1,935,000 | $276,429 | $3,208 | 3.48% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 8 | $1,920,000 | $240,000 | $3,014 | 3.59% |
| AMARILLO, TX (FHA|USDA|VA) | 7 | $1,655,000 | $236,429 | $5,059 | 3.80% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $1,655,000 | $236,429 | $4,249 | 3.52% |
| FARGO, ND-MN (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $4,781 | 3.29% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 6 | $1,320,000 | $220,000 | $4,563 | 3.48% |
| Manitowoc, WI (FHA|USDA|VA) | 6 | $1,310,000 | $218,333 | $2,625 | 3.56% |
| Menomonie, WI (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $3,698 | 3.40% |
| DANVILLE, IL (FHA|USDA|VA) | 13 | $1,235,000 | $95,000 | $4,490 | 3.77% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $10,977 | 3.56% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $4,879 | 3.50% |
| Hutchinson, MN (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $6,421 | 3.66% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $5,333 | 3.33% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $3,225 | 3.19% |
| Williston, ND (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $4,046 | 3.22% |
| Willmar, MN (FHA|USDA|VA) | 7 | $995,000 | $142,143 | $3,199 | 3.41% |
| Baraboo, WI (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $3,035 | 3.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $3,873 | 3.83% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $6,311 | 3.44% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,046 | 3.58% |
| Marshall, MN (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,392 | 3.31% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $3,681 | 3.66% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $8,358 | 3.94% |
| Marinette, WI-MI (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $2,785 | 3.79% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $5,768 | 4.13% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,538 | 3.38% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $7,478 | 3.94% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,192 | 3.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,401 | 3.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,853 | 2.75% |
| NAPA, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,501 | 3.63% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,106 | 4.31% |
| RACINE, WI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,252 | 3.19% |
| TYLER, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,982 | 3.56% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $5,075 | 3.58% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,076 | 3.69% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,622 | 3.75% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,519 | 3.38% |
| Winona, MN (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $2,572 | 3.88% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $9,563 | 4.13% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,274 | 3.75% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,566 | 2.75% |
| Fairmont, MN (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,609 | 3.31% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $1,125 | 3.56% |
| Bemidji, MN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,486 | 3.81% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,452 | 3.38% |
| Andrews, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,720 | 3.75% |
| New Ulm, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,027 | 3.31% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,759 | 3.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,288 | 3.50% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,511 | 4.25% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,450 | 3.50% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,728 | 3.50% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,756 | 4.88% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,258 | 4.25% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,136 | 4.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,799 | 3.75% |
| LAREDO, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,212 | 3.31% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,371 | 3.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,215 | 3.38% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,704 | 3.25% |
| Sonora, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,058 | 4.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,182 | 4.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,289 | 3.63% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,626 | 4.13% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,649 | 3.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,830 | 3.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,879 | 3.63% |
| Shawano, WI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,230 | 3.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,915 | 3.63% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,842 | 3.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,225 | 3.00% |
| MERCED, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,000 | 3.50% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,528 | 3.75% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,138 | 3.75% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,335 | 3.50% |
| Platteville, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,619 | 3.75% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,345 | 4.63% |
| Decatur, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,562 | 3.25% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,765 | 4.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,236 | 3.50% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,501 | 2.75% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,112 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.38% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,292 | 3.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against American Mortgage & Equity Consultants 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
For 2020, American Mortgage & Equity Consultants's most frequently originated type of loan was Conventional, with 3,820 originations. Their 2nd most popular type was FHA, with 587 originations.
Loan Reason
For 2020, American Mortgage & Equity Consultants's most frequently cited loan purpose was Home Purchase, with 2,067 originations. The 2nd most popular reason was Refi, with 2,042 originations.
Loan Duration/Length
For 2020, American Mortgage & Equity Consultants's most frequently cited loan duration was 30 Year, with 4,072 originations. The 2nd most popular length was 15 Year, with 389 originations.
Origination Fees/Closing Costs
American Mortgage & Equity Consultants's average total fees were $4,605, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,872 originations.
Interest Rates
During 2020, American Mortgage & Equity Consultants's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 3,932 originations.
Loan Sizing
2020 saw American Mortgage & Equity Consultants place emphasis on $200k-400k loans with 2,673 originations, totaling $745,275,000 in origination value.
Applicant Income
American Mortgage & Equity Consultants lent most frequently to those with incomes in the $50k-75k range, with 1,184 originations. The second most popular income band? $100k-150k, with 1,057 originations.
Applicant Debt to Income Ratio
American Mortgage & Equity Consultants lent most frequently to those with DTI ratios of 20-30%, with 1,003 originations. The next most common DTI ratio? 30-36%, with 911 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.88%
American Mortgage & Equity Consultants has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.62%
American Mortgage & Equity Consultants has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,751 | $1,260,625,000 | $265,339 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 18 | $2,970,000 | $165,000 |
| Single Family (1-4 Units):Site-Built | 4,733 | $1,257,655,000 | $265,720 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN SECURITY MORTGAGE CORPORATION | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| AMERICAN SECURITY MORTGAGE CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |