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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Charlotte, Washington, Raleigh, Fayetteville, and Myrtle Beach among others. American Security Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. American Security Mortgage Corp. is typically an average fee lendor.


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 rate mortgage of loans were 2.86%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.29%.

Relative Fees

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

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

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, American Security Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 4,990 originations. Their 2nd most popular type is VA, with 582 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, American Security Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 3,476 originations. The 2nd most popular reason of loans were 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 the 2021, American Security Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 5,330 originations. The 2nd most popular length of loans were 15 Year, with 457 originations.

Origination Fees

Origination Fee 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 83 $32,865,000 $395,964
$5k+ 52 $30,340,000 $583,462

$3,989 of loans were American Security Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees 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 of loans were 2.86%, while their most frequently originated rate bucket of loans were 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 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
99.12%

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
79.02%

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%