American Security Mortgage Corp. Rates, Fees & Info

Charlotte, NC

LEI: 549300E8HNQO52YYHI82

Tax ID: 56-2148428

5 stars - Updated: 3/3/24 - out of 5 stars, based on 54 reviews

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

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Mortgage Data

Review & Overview

American Security Mortgage Corp. is a small mortgage company specializing in Home Purchase loans. American Security Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Charlotte, Fayetteville, Raleigh, Myrtle Beach, and Washington among others. We have data for 77 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 6.52% 3/3/24
30 Year Conventional Refi 6.29% 3/3/24
30 Year Cash-out Refi 6.67% 3/3/24
30 Year FHA Purchase 7.27% 3/3/24
30 Year FHA Refi 7.05% 3/3/24
30 Year VA Purchase 6.21% 3/3/24
30 Year VA Refi 5.75% 3/3/24
30 Year USDA Purchase 6.73% 3/3/24
15 Year Conventional Purchase 6.02% 3/3/24
15 Year Conventional Refi 6.21% 3/3/24
15 Year Cash-out Refi 6.21% 3/3/24
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 Security Mortgage Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from American Security Mortgage Corp.. 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

2,950

Origination Dollar Volume (All Markets)

$1,092,510,000
Show all (50) awards

Relative Rate

American Security Mortgage Corp.'s average 30 year fixed mortgage rate was 4.79%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.03%.

Relative Fees (Closing Costs)

American Security Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $5,513.

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) 1,693 $679,205,000 $401,184 $4,766 4.76%
FAYETTEVILLE, NC (FHA|USDA|VA) 201 $56,565,000 $281,418 $8,243 4.82%
RALEIGH-CARY, NC (FHA|USDA|VA) 145 $53,295,000 $367,552 $7,492 4.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 140 $47,600,000 $340,000 $5,599 4.69%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 56 $32,220,000 $575,357 $8,611 4.28%
ASHEVILLE, NC (FHA|USDA|VA) 75 $26,115,000 $348,200 $4,561 4.72%
WILMINGTON, NC (FHA|USDA|VA) 59 $20,495,000 $347,373 $4,793 4.61%
Morehead City, NC (FHA|USDA|VA) 61 $19,815,000 $324,836 $6,584 4.43%
JACKSONVILLE, NC (FHA|USDA|VA) 56 $13,870,000 $247,679 $6,228 4.95%
NEW BERN, NC (FHA|USDA|VA) 39 $9,965,000 $255,513 $6,084 4.76%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 24 $8,940,000 $372,500 $5,926 4.86%
GOLDSBORO, NC (FHA|USDA|VA) 37 $8,905,000 $240,676 $7,298 5.47%
Outside of Metro Areas 31 $7,645,000 $246,613 $5,035 4.73%
Albemarle, NC (FHA|USDA|VA) 26 $7,100,000 $273,077 $5,882 4.83%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 24 $7,060,000 $294,167 $4,191 4.64%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 19 $6,825,000 $359,211 $8,530 4.74%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 16 $5,850,000 $365,625 $4,856 4.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 20 $5,750,000 $287,500 $4,416 4.49%
WINSTON-SALEM, NC (FHA|USDA|VA) 21 $5,595,000 $266,429 $4,579 4.67%
Georgetown, SC (FHA|USDA|VA) 11 $4,955,000 $450,455 $5,801 4.89%
COLUMBIA, SC (FHA|USDA|VA) 15 $4,825,000 $321,667 $7,570 4.37%
Shelby, NC (FHA|USDA|VA) 18 $4,020,000 $223,333 $5,758 4.99%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $3,835,000 $426,111 $5,072 4.42%
Boone, NC (FHA|USDA|VA) 6 $3,020,000 $503,333 $5,715 5.54%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 7 $2,865,000 $409,286 $4,256 4.84%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $2,745,000 $915,000 $4,723 3.96%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $2,480,000 $620,000 $10,778 4.85%
GREENVILLE, NC (FHA|USDA|VA) 8 $2,290,000 $286,250 $5,162 4.11%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 10 $2,260,000 $226,000 $4,430 5.53%
ROCKY MOUNT, NC (FHA|USDA|VA) 8 $2,170,000 $271,250 $6,149 4.70%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 6 $1,800,000 $300,000 $5,188 5.80%
Wilson, NC (FHA|USDA|VA) 8 $1,730,000 $216,250 $5,078 5.39%
Forest City, NC (FHA|USDA|VA) 4 $1,720,000 $430,000 $4,719 4.81%
Sanford, NC (FHA|USDA|VA) 6 $1,700,000 $283,333 $6,461 5.54%
BURLINGTON, NC (FHA|USDA|VA) 1 $1,685,000 $1,685,000 $13,968 4.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,615,000 $538,333 $10,094 4.92%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,485,000 $297,000 $4,487 4.67%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 5 $1,445,000 $289,000 $4,888 4.33%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,390,000 $347,500 $4,094 5.41%
SPARTANBURG, SC (FHA|USDA|VA) 4 $1,170,000 $292,500 $3,425 4.59%
FLORENCE, SC (FHA|USDA|VA) 4 $1,160,000 $290,000 $5,030 4.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $980,000 $490,000 $5,937 5.25%
Rockingham, NC (FHA|USDA|VA) 2 $960,000 $480,000 $9,491 4.69%
SUMTER, SC (FHA|USDA|VA) 3 $845,000 $281,667 $7,230 5.21%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $840,000 $420,000 $5,487 3.75%
Brevard, NC (FHA|USDA|VA) 3 $805,000 $268,333 $3,798 4.96%
COLUMBUS, OH (FHA|USDA|VA) 2 $790,000 $395,000 $3,565 4.63%
Kinston, NC (FHA|USDA|VA) 4 $730,000 $182,500 $7,096 5.31%
ROANOKE, VA (FHA|USDA|VA) 2 $730,000 $365,000 $6,882 5.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,753 4.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $645,000 $645,000 $6,669 3.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $630,000 $315,000 $3,535 4.25%
Laurinburg, NC (FHA|USDA|VA) 2 $630,000 $315,000 $8,338 4.19%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $590,000 $295,000 $7,323 5.69%
SAVANNAH, GA (FHA|USDA|VA) 1 $585,000 $585,000 $4,909 4.00%
KNOXVILLE, TN (FHA|USDA|VA) 3 $575,000 $191,667 $3,587 4.75%
Cullowhee, NC (FHA|USDA|VA) 2 $560,000 $280,000 $6,458 3.38%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $555,000 $555,000 $4,739 5.38%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $395,000 $395,000 $3,360 7.00%
Mount Airy, NC (FHA|USDA|VA) 2 $370,000 $185,000 $4,124 5.50%
Danville, VA (FHA|USDA|VA) 2 $350,000 $175,000 $4,370 6.00%
Lumberton, NC (FHA|USDA|VA) 2 $340,000 $170,000 $4,937 5.31%
THE VILLAGES, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,564 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $315,000 $315,000 $8,015 5.25%
HARRISONBURG, VA (FHA|USDA|VA) 1 $315,000 $315,000 $5,836 3.38%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,262 3.13%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $295,000 $295,000 $3,712 3.75%
Gaffney, SC (FHA|USDA|VA) 1 $285,000 $285,000 $4,688 3.88%
North Wilkesboro, NC (FHA|USDA|VA) 1 $285,000 $285,000 $9,460 4.88%
Washington, NC (FHA|USDA|VA) 1 $275,000 $275,000 $3,336 3.50%
Marion, NC (FHA|USDA|VA) 1 $265,000 $265,000 $3,579 2.75%
Statesboro, GA (FHA|USDA|VA) 1 $235,000 $235,000 $6,344 3.63%
TOLEDO, OH (FHA|USDA|VA) 1 $215,000 $215,000 $4,010 5.13%
Seneca, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,582 4.13%
OCALA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,299 4.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,872 3.25%
LYNCHBURG, VA (FHA|USDA|VA) 1 $85,000 $85,000 $2,710 5.00%
American Security Mortgage Corp.'s top markets include Charlotte, Fayetteville, Raleigh, Myrtle Beach, and Washington among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,309 $885,095,000 $383,324 $4,422 4.78%
    VA 389 $137,705,000 $353,997 $9,490 4.61%
    FHA 202 $58,040,000 $287,327 $9,151 4.72%
    USDA 48 $11,140,000 $232,083 $6,621 4.67%
    Reverse Mortgage 1 $155,000 $155,000 $0 7.24%
    FHA 1 $375,000 $375,000 $0 2.50%

    For 2022, American Security Mortgage Corp.'s most frequently originated type of loan was Conventional, with 2,309 originations. Their 2nd most popular type was VA, with 389 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,613 $978,815,000 $374,594 $5,585 4.85%
    Cash Out Refi 244 $80,960,000 $331,803 $4,744 4.16%
    Refi 93 $32,735,000 $351,989 $3,813 3.63%

    For 2022, American Security Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 2,613 originations. The 2nd most popular reason was Cash Out Refi, with 244 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,829 $1,055,765,000 $373,194 $5,513 4.79%
    15 Year 91 $27,975,000 $307,418 $4,039 3.75%
    20 Year 22 $6,560,000 $298,182 $4,082 3.96%
    Other 6 $1,440,000 $240,000 $8,268 4.48%
    10 Year 1 $325,000 $325,000 $3,676 3.63%
    1 Year 1 $445,000 $445,000 $5,137 5.25%

    For 2022, American Security Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 2,829 originations. The 2nd most popular length was 15 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,897 $697,525,000 $367,699
    $<1k 298 $116,930,000 $392,383
    $2k-3k 258 $89,730,000 $347,791
    $5k+ 198 $90,150,000 $455,303
    $3k-4k 182 $62,250,000 $342,033
    $4k-5k 115 $35,395,000 $307,783

    American Security Mortgage Corp.'s average total fees were $5,513, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,897 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 855 $289,855,000 $339,012
    3-4% 755 $287,885,000 $381,305
    4-5% 733 $295,105,000 $402,599
    6-7% 333 $112,265,000 $337,132
    2.5-3% 176 $73,540,000 $417,841
    7-8% 67 $19,705,000 $294,104
    <2.5% 29 $13,505,000 $465,690
    Over 8% 2 $650,000 $325,000

    During 2022, American Security Mortgage Corp.'s average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 5-6%, with 855 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,478 $441,160,000 $298,484 $5,547 4.84%
    $400k-600k 703 $335,375,000 $477,063 $5,638 4.66%
    $100k-200k 408 $64,930,000 $159,142 $4,296 4.93%
    $600k-1MM 294 $205,680,000 $699,592 $6,111 4.33%
    $1MM+ 34 $42,670,000 $1,255,000 $7,756 4.44%
    $100,000 or less 33 $2,695,000 $81,667 $3,500 5.01%

    2022 saw American Security Mortgage Corp. place emphasis on $200k-400k loans with 1,478 originations, totaling $441,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 766 $284,380,000 $371,253 $5,539 4.72%
    $150k-250k 647 $302,605,000 $467,705 $5,356 4.75%
    $75k-100k 550 $169,690,000 $308,527 $6,024 4.79%
    $50k-75k 488 $116,020,000 $237,746 $5,338 4.82%
    $250k+ 318 $186,050,000 $585,063 $5,055 4.75%
    $50k or less 173 $30,355,000 $175,462 $4,623 4.73%

    American Security Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 766 originations. The second most popular income band? $150k-250k, with 647 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 686 $259,170,000 $377,799 $4,912 4.57%
    30-36% 597 $238,145,000 $398,903 $5,217 4.77%
    <20% 189 $67,485,000 $357,063 $4,291 4.47%
    44% 122 $41,130,000 $337,131 $5,780 4.97%
    41% 119 $44,725,000 $375,840 $5,666 4.60%
    42% 116 $42,280,000 $364,483 $6,178 4.94%
    43% 114 $39,930,000 $350,263 $5,884 5.14%
    37% 112 $38,520,000 $343,929 $5,022 4.78%
    38% 111 $43,465,000 $391,577 $5,517 4.95%
    40% 105 $41,105,000 $391,476 $5,638 4.71%
    39% 104 $39,690,000 $381,635 $5,526 4.71%
    36% 100 $33,930,000 $339,300 $5,505 4.71%
    49% 87 $28,655,000 $329,368 $5,788 4.99%
    47% 85 $29,395,000 $345,824 $5,797 5.00%
    45% 84 $27,830,000 $331,310 $6,237 4.92%
    48% 81 $30,265,000 $373,642 $5,976 5.08%
    50-60% 69 $23,595,000 $341,957 $10,822 4.87%
    46% 64 $21,750,000 $339,844 $5,705 4.80%
    >60% 2 $680,000 $340,000 $11,246 5.50%

    American Security Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 686 originations. The next most common DTI ratio? 30-36%, with 597 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,352 $875,990,000 $372,445 $5,279 4.75%
    Black 250 $82,930,000 $331,720 $6,881 4.77%
    Not provided 209 $81,435,000 $389,641 $5,687 4.84%
    Asian 102 $39,530,000 $387,549 $5,242 4.51%
    American Indian 19 $5,965,000 $313,947 $7,094 4.99%
    Asian Indian 7 $3,025,000 $432,143 $6,286 5.57%
    Other Asian 4 $1,200,000 $300,000 $3,183 4.22%
    Korean 2 $950,000 $475,000 $8,057 5.00%
    Native Hawaiian or Islander 2 $760,000 $380,000 $11,790 4.19%
    Chinese 1 $295,000 $295,000 $4,062 4.38%
    Filipino 1 $265,000 $265,000 $9,337 4.75%
    Other Pacific Islander 1 $165,000 $165,000 $7,428 6.50%

    Approval Rates

    Total approvals of all applications
    98.38%

    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
    73.36%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,950 $1,092,510,000 $370,342

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,950 $1,092,510,000 $370,342

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 82 $17,650,000 $215,244 $3,641 4.58%
    40-60% 244 $80,490,000 $329,877 $4,175 4.51%
    60-80% 870 $340,790,000 $391,713 $4,684 4.74%
    80-100% 1,637 $615,845,000 $376,203 $5,591 4.81%
    Over 100% 101 $35,495,000 $351,436 $14,791 4.70%
    Under 20% 16 $2,240,000 $140,000 $2,928 4.83%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERICAN PACIFIC MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%