American Security Mortgage Corp. Rates, Fees & Info

Charlotte, NC

LEI: 549300E8HNQO52YYHI82

Tax ID: 56-2148428

5 stars - out of 5 stars, based on 77 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    American Security Mortgage Corp. is a small mortgage company specializing in Home Purchase and Refi loans. American Security Mortgage Corp. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Washington, Raleigh, Fayetteville, and Myrtle Beach among others. We have data for 90 markets. (Some data included below & more in-depth data is available with an active subscription.)

    American Security Mortgage Corp. 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 Security Mortgage Corp. is typically an average 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 6.67% 11/26/22
    30 Year Conventional Refi 6.54% 11/26/22
    30 Year Cash-out Refi 6.72% 11/26/22
    30 Year FHA Purchase 7.49% 11/26/22
    30 Year FHA Refi 7.16% 11/26/22
    30 Year VA Purchase 6.43% 11/26/22
    30 Year VA Refi 6.16% 11/26/22
    30 Year USDA Purchase 6.96% 11/26/22
    30 Year USDA Refi 6.84% 11/26/22
    15 Year Conventional Purchase 6.00% 11/26/22
    15 Year Conventional Refi 5.96% 11/26/22
    15 Year Cash-out Refi 5.96% 11/26/22
    15 Year VA Purchase 6.14% 11/26/22
    15 Year VA Refi 5.96% 11/26/22
    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.


    Originations

    6,004

    Origination Dollar Volume (All Markets)

    $1,916,920,000
    Show all (50) awards

    Relative Rate

    American Security Mortgage Corp.'s average 30 year fixed mortgage rate was 2.86%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.29%.

    Relative Fees (Closing Costs)

    American Security Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $3,989.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3,317 $1,109,985,000 $334,635 $3,497 2.82%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 268 $119,730,000 $446,754 $4,619 2.66%
    RALEIGH-CARY, NC (FHA|USDA|VA) 275 $86,075,000 $313,000 $4,187 2.81%
    FAYETTEVILLE, NC (FHA|USDA|VA) 331 $77,355,000 $233,701 $6,135 2.79%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 252 $69,150,000 $274,405 $3,813 2.91%
    ASHEVILLE, NC (FHA|USDA|VA) 211 $65,645,000 $311,114 $3,346 2.84%
    Morehead City, NC (FHA|USDA|VA) 196 $52,270,000 $266,684 $3,677 2.76%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 91 $36,925,000 $405,769 $4,122 2.85%
    WILMINGTON, NC (FHA|USDA|VA) 103 $30,925,000 $300,243 $3,164 2.84%
    WINSTON-SALEM, NC (FHA|USDA|VA) 83 $22,905,000 $275,964 $3,773 2.79%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 64 $19,980,000 $312,188 $5,882 2.57%
    JACKSONVILLE, NC (FHA|USDA|VA) 88 $18,660,000 $212,045 $4,603 2.83%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 55 $17,195,000 $312,636 $4,077 2.89%
    NEW BERN, NC (FHA|USDA|VA) 69 $15,345,000 $222,391 $4,431 2.64%
    Outside of Metro Areas 50 $15,140,000 $302,800 $3,932 2.82%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 20 $11,470,000 $573,500 $7,670 2.93%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 40 $10,960,000 $274,000 $3,838 2.85%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 34 $10,680,000 $314,118 $3,165 2.74%
    Albemarle, NC (FHA|USDA|VA) 43 $10,105,000 $235,000 $4,185 2.84%
    COLUMBIA, SC (FHA|USDA|VA) 35 $9,915,000 $283,286 $4,630 2.89%
    Boone, NC (FHA|USDA|VA) 25 $9,205,000 $368,200 $3,404 2.95%
    Georgetown, SC (FHA|USDA|VA) 28 $8,850,000 $316,071 $4,101 2.86%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 23 $6,245,000 $271,522 $3,894 2.77%
    Shelby, NC (FHA|USDA|VA) 23 $5,605,000 $243,696 $4,712 2.91%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 15 $4,745,000 $316,333 $3,430 2.78%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 15 $4,505,000 $300,333 $2,903 2.71%
    Sanford, NC (FHA|USDA|VA) 15 $4,415,000 $294,333 $6,806 2.49%
    GOLDSBORO, NC (FHA|USDA|VA) 18 $4,110,000 $228,333 $6,887 2.73%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 18 $3,880,000 $215,556 $2,767 3.16%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 15 $3,605,000 $240,333 $3,512 2.82%
    GREENVILLE, NC (FHA|USDA|VA) 12 $3,160,000 $263,333 $3,616 2.83%
    Brevard, NC (FHA|USDA|VA) 8 $3,120,000 $390,000 $3,873 2.89%
    Cullowhee, NC (FHA|USDA|VA) 6 $2,530,000 $421,667 $3,927 2.77%
    Forest City, NC (FHA|USDA|VA) 8 $2,380,000 $297,500 $4,396 2.73%
    FLORENCE, SC (FHA|USDA|VA) 9 $2,245,000 $249,444 $4,504 2.96%
    JACKSONVILLE, FL (FHA|USDA|VA) 4 $2,230,000 $557,500 $8,436 2.94%
    RICHMOND, VA (FHA|USDA|VA) 9 $2,175,000 $241,667 $3,600 2.89%
    Seneca, SC (FHA|USDA|VA) 5 $1,965,000 $393,000 $3,330 2.65%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 6 $1,850,000 $308,333 $4,894 2.90%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 6 $1,710,000 $285,000 $5,525 2.67%
    SAVANNAH, GA (FHA|USDA|VA) 6 $1,680,000 $280,000 $5,131 2.73%
    Marion, NC (FHA|USDA|VA) 4 $1,320,000 $330,000 $3,511 2.88%
    Henderson, NC (FHA|USDA|VA) 6 $1,280,000 $213,333 $5,884 3.04%
    SPARTANBURG, SC (FHA|USDA|VA) 5 $1,245,000 $249,000 $3,461 2.65%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,175,000 $391,667 $4,522 2.71%
    Newberry, SC (FHA|USDA|VA) 3 $1,175,000 $391,667 $3,545 2.88%
    WINCHESTER, VA-WV (FHA|USDA|VA) 5 $1,125,000 $225,000 $2,877 2.80%
    Laurinburg, NC (FHA|USDA|VA) 5 $1,115,000 $223,000 $3,904 2.75%
    Lumberton, NC (FHA|USDA|VA) 7 $1,055,000 $150,714 $3,774 2.95%
    Kill Devil Hills, NC (FHA|USDA|VA) 3 $1,035,000 $345,000 $3,303 3.00%
    ROCKY MOUNT, NC (FHA|USDA|VA) 5 $985,000 $197,000 $4,540 2.70%
    Kinston, NC (FHA|USDA|VA) 5 $905,000 $181,000 $4,021 2.70%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $810,000 $405,000 $3,188 2.38%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $795,000 $795,000 $32,336 2.38%
    COLUMBUS, OH (FHA|USDA|VA) 4 $790,000 $197,500 $1,975 2.69%
    BURLINGTON, NC (FHA|USDA|VA) 4 $780,000 $195,000 $4,917 2.91%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $760,000 $380,000 $4,491 2.56%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $725,000 $725,000 $4,896 2.75%
    SUMTER, SC (FHA|USDA|VA) 2 $690,000 $345,000 $3,551 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $685,000 $228,333 $4,585 3.33%
    Wilson, NC (FHA|USDA|VA) 3 $515,000 $171,667 $3,065 2.96%
    ROANOKE, VA (FHA|USDA|VA) 1 $505,000 $505,000 $2,457 2.38%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $400,000 $200,000 $3,158 2.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,781 2.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,934 2.38%
    Sevierville, TN (FHA|USDA|VA) 1 $365,000 $365,000 $4,208 3.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $345,000 $345,000 $11,810 2.50%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,531 2.38%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $305,000 $305,000 $3,639 3.13%
    North Wilkesboro, NC (FHA|USDA|VA) 2 $300,000 $150,000 $3,087 2.56%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,649 2.50%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $290,000 $145,000 $3,154 2.38%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $285,000 $285,000 $2,018 2.88%
    Orangeburg, SC (FHA|USDA|VA) 1 $275,000 $275,000 $2,929 2.25%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $265,000 $265,000 $3,554 3.38%
    Easton, MD (FHA|USDA|VA) 1 $265,000 $265,000 $3,386 2.88%
    Statesboro, GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,456 2.88%
    Dyersburg, TN (FHA|USDA|VA) 1 $205,000 $205,000 $2,438 2.25%
    Paris, TN (FHA|USDA|VA) 1 $205,000 $205,000 $3,293 2.63%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,512 3.75%
    Newport, TN (FHA|USDA|VA) 1 $195,000 $195,000 $3,695 3.13%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $5,507 3.63%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,945 2.25%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $155,000 $155,000 $5,431 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,538 3.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $2,578 2.63%
    Mount Airy, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,901 3.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $135,000 $135,000 $3,009 2.88%
    AKRON, OH (FHA|USDA|VA) 1 $135,000 $135,000 $2,484 2.63%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $75,000 $75,000 $3,435 3.38%
    American Security Mortgage Corp.'s top markets include Charlotte, Washington, Raleigh, Fayetteville, and Myrtle Beach among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,990 $1,631,010,000 $326,856 $3,265 2.84%
    VA 582 $184,080,000 $316,289 $7,081 2.56%
    FHA 270 $66,580,000 $246,593 $7,414 2.82%
    USDA 162 $35,250,000 $217,593 $5,454 2.74%

    For 2021, American Security Mortgage Corp.'s most frequently originated type of loan was Conventional, with 4,990 originations. Their 2nd most popular type was VA, with 582 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,476 $1,137,050,000 $327,114 $4,463 2.86%
    Refi 1,665 $513,195,000 $308,225 $2,940 2.64%
    Cash Out Refi 863 $266,675,000 $309,009 $3,343 2.92%

    For 2021, American Security Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 3,476 originations. The 2nd most popular reason was Refi, with 1,665 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,330 $1,724,710,000 $323,585 $3,989 2.86%
    15 Year 457 $128,515,000 $281,214 $2,986 2.35%
    20 Year 158 $46,100,000 $291,772 $2,990 2.63%
    Other 30 $9,710,000 $323,667 $3,372 2.86%
    10 Year 29 $7,885,000 $271,897 $3,046 2.28%

    For 2021, American Security Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 5,330 originations. The 2nd most popular length was 15 Year, with 457 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 4,979 $1,561,245,000 $313,566
    $<1k 756 $246,400,000 $325,926
    $2k-3k 134 $46,070,000 $343,806
    $3k-4k 55 $20,045,000 $364,455
    $5k+ 52 $30,340,000 $583,462
    $4k-5k 28 $12,820,000 $457,857

    American Security Mortgage Corp.'s average total fees were $3,989, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,979 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 3,126 $1,003,570,000 $321,040
    <2.5% 1,644 $559,610,000 $340,395
    3-4% 1,177 $342,495,000 $290,990
    4-5% 57 $11,245,000 $197,281

    During 2021, American Security Mortgage Corp.'s average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3,126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 3,242 $939,850,000 $289,898 $3,960 2.80%
    $400k-600k 1,253 $604,775,000 $482,662 $3,731 2.70%
    $100k-200k 1,207 $193,535,000 $160,344 $3,411 2.90%
    $600k-1MM 163 $121,325,000 $744,325 $6,458 2.87%
    $100,000 or less 101 $8,265,000 $81,832 $3,094 3.24%
    $1MM+ 38 $49,170,000 $1,293,947 $7,710 2.96%

    2021 saw American Security Mortgage Corp. place emphasis on $200k-400k loans with 3,242 originations, totaling $939,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,424 $472,110,000 $331,538 $3,751 2.79%
    $150k-250k 1,224 $486,240,000 $397,255 $3,604 2.80%
    $50k-75k 1,181 $281,885,000 $238,683 $4,041 2.83%
    $75k-100k 1,027 $293,135,000 $285,428 $4,185 2.80%
    $50k or less 575 $105,955,000 $184,270 $3,783 2.84%
    $250k+ 550 $267,890,000 $487,073 $4,016 2.84%

    American Security Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,424 originations. The second most popular income band? $150k-250k, with 1,224 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,609 $526,625,000 $327,300 $3,529 2.79%
    30-36% 1,129 $368,885,000 $326,736 $3,855 2.85%
    <20% 781 $248,715,000 $318,457 $3,273 2.72%
    39% 223 $71,695,000 $321,502 $4,249 2.85%
    37% 211 $72,955,000 $345,758 $4,139 2.87%
    38% 210 $66,920,000 $318,667 $4,400 2.90%
    42% 203 $59,745,000 $294,310 $4,272 2.81%
    40% 194 $62,710,000 $323,247 $4,094 2.85%
    43% 191 $53,095,000 $277,984 $3,962 2.85%
    41% 188 $56,570,000 $300,904 $4,244 2.84%
    36% 188 $57,290,000 $304,734 $3,780 2.87%
    44% 178 $57,730,000 $324,326 $4,546 2.91%
    45% 130 $39,460,000 $303,538 $4,168 2.83%
    46% 115 $35,985,000 $312,913 $4,048 2.85%
    47% 115 $35,175,000 $305,870 $4,387 2.79%
    49% 107 $31,825,000 $297,430 $4,361 2.88%
    48% 101 $30,025,000 $297,277 $4,948 2.84%
    50-60% 69 $21,255,000 $308,043 $7,967 2.70%
    >60% 1 $615,000 $615,000 $4,886 2.38%

    American Security Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,609 originations. The next most common DTI ratio? 30-36%, with 1,129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,941 $1,586,545,000 $321,098 $3,818 2.80%
    Not provided 352 $108,840,000 $309,205 $3,659 2.81%
    Black 335 $94,865,000 $283,179 $4,942 2.91%
    Asian 275 $94,025,000 $341,909 $3,732 2.84%
    American Indian 41 $13,385,000 $326,463 $5,173 2.85%
    Asian Indian 36 $11,640,000 $323,333 $3,468 2.97%
    Other Asian 7 $2,555,000 $365,000 $5,797 2.68%
    Filipino 4 $1,580,000 $395,000 $6,122 2.56%
    Native Hawaiian or Islander 6 $1,370,000 $228,333 $4,053 2.65%
    Korean 3 $845,000 $281,667 $3,384 2.88%
    Chinese 2 $780,000 $390,000 $3,067 2.50%
    Vietnamese 1 $315,000 $315,000 $3,626 2.50%
    Other Pacific Islander 1 $175,000 $175,000 $6,412 2.25%

    Approval Rates

    Total approvals of all applications
    99.10%

    American Security Mortgage Corp. 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
    82.76%

    American Security Mortgage Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,004 $1,916,920,000 $319,274

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    6,004 $1,916,920,000 $319,274

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 210 $51,400,000 $244,762 $3,127 2.59%
    40-60% 799 $244,685,000 $306,239 $3,022 2.66%
    60-80% 2,326 $780,020,000 $335,348 $3,237 2.89%
    80-100% 2,516 $793,960,000 $315,564 $4,344 2.82%
    Over 100% 141 $44,695,000 $316,986 $12,213 2.62%
    Under 20% 12 $2,160,000 $180,000 $3,041 2.64%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    American Mortgage Service Company Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    American Mortgage Service Company FHA mortgage Closing on a mortgage 2 66.7%