American Security Mortgage Corp. Rates, Fees & Info
Charlotte, NCLEI: 549300E8HNQO52YYHI82
Tax ID: 56-2148428
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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, Washington, Myrtle Beach, Raleigh, and Fayetteville among others. We have data for 74 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.52% | 12/16/24 |
| 30 Year Conventional Refi | 6.29% | 12/16/24 |
| 30 Year Cash-out Refi | 6.67% | 12/16/24 |
| 30 Year FHA Purchase | 7.27% | 12/16/24 |
| 30 Year FHA Refi | 7.05% | 12/16/24 |
| 30 Year VA Purchase | 6.21% | 12/16/24 |
| 30 Year VA Refi | 5.75% | 12/16/24 |
| 30 Year USDA Purchase | 6.73% | 12/16/24 |
| 15 Year Conventional Purchase | 6.02% | 12/16/24 |
| 15 Year Conventional Refi | 6.21% | 12/16/24 |
| 15 Year Cash-out Refi | 6.21% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,734Origination Dollar Volume (All Markets)
$1,020,880,000Awards
American Security Mortgage Corp. - 2019
American Security Mortgage Corp. is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2,115 | $605,425,000 | $286,253 | $3,203 | 4.07% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 139 | $65,355,000 | $470,180 | $5,397 | 3.85% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 213 | $47,315,000 | $222,136 | $2,561 | 4.31% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 180 | $46,700,000 | $259,444 | $3,249 | 4.04% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 203 | $39,305,000 | $193,621 | $3,602 | 3.99% |
| ASHEVILLE, NC (FHA|USDA|VA) | 113 | $33,015,000 | $292,168 | $3,214 | 4.17% |
| Morehead City, NC (FHA|USDA|VA) | 102 | $22,990,000 | $225,392 | $3,209 | 3.99% |
| WILMINGTON, NC (FHA|USDA|VA) | 73 | $19,785,000 | $271,027 | $3,115 | 3.97% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 74 | $13,940,000 | $188,378 | $3,642 | 4.08% |
| NEW BERN, NC (FHA|USDA|VA) | 65 | $11,055,000 | $170,077 | $3,186 | 4.18% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 27 | $10,375,000 | $384,259 | $2,053 | 3.82% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 37 | $10,075,000 | $272,297 | $4,025 | 3.87% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 38 | $9,580,000 | $252,105 | $3,159 | 4.05% |
| Outside of Metro Areas | 30 | $8,050,000 | $268,333 | $3,805 | 4.02% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 27 | $6,565,000 | $243,148 | $3,526 | 4.09% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 28 | $6,560,000 | $234,286 | $2,767 | 4.16% |
| Georgetown, SC (FHA|USDA|VA) | 16 | $5,560,000 | $347,500 | $3,517 | 4.19% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 25 | $5,255,000 | $210,200 | $4,064 | 4.29% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 15 | $4,335,000 | $289,000 | $3,590 | 4.17% |
| COLUMBIA, SC (FHA|USDA|VA) | 18 | $4,310,000 | $239,444 | $3,531 | 4.30% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 14 | $3,560,000 | $254,286 | $3,087 | 4.02% |
| Albemarle, NC (FHA|USDA|VA) | 15 | $2,885,000 | $192,333 | $4,478 | 4.12% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $2,360,000 | $295,000 | $2,896 | 3.92% |
| GOLDSBORO, NC (FHA|USDA|VA) | 11 | $2,315,000 | $210,455 | $3,253 | 3.83% |
| Boone, NC (FHA|USDA|VA) | 7 | $2,155,000 | $307,857 | $2,582 | 4.25% |
| Sanford, NC (FHA|USDA|VA) | 11 | $2,125,000 | $193,182 | $4,338 | 4.10% |
| Shelby, NC (FHA|USDA|VA) | 11 | $2,075,000 | $188,636 | $2,763 | 4.45% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $1,895,000 | $631,667 | $2,521 | 3.71% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $1,635,000 | $327,000 | $2,775 | 4.83% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 7 | $1,565,000 | $223,571 | $3,185 | 4.45% |
| FLORENCE, SC (FHA|USDA|VA) | 7 | $1,445,000 | $206,429 | $3,626 | 3.96% |
| Seneca, SC (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $2,671 | 4.25% |
| Forest City, NC (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $2,389 | 4.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $7,148 | 3.59% |
| Marion, NC (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $3,235 | 4.16% |
| Rockingham, NC (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $1,216 | 4.40% |
| BURLINGTON, NC (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $1,819 | 4.17% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,486 | 4.04% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,075 | 3.44% |
| Gaffney, SC (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $2,886 | 4.54% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $1,482 | 4.12% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $3,333 | 4.09% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $3,840 | 4.19% |
| Easton, MD (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $9,861 | 3.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,560 | 3.96% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $2,791 | 4.31% |
| Brevard, NC (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $1,214 | 4.67% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 5.50% |
| Kinston, NC (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $1,745 | 4.41% |
| Laurinburg, NC (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $5,305 | 4.63% |
| SUMTER, SC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $3,903 | 4.08% |
| SPARTANBURG, SC (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $3,278 | 4.13% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,877 | 4.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,633 | 4.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $2,608 | 4.13% |
| Henderson, NC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,070 | 4.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $3,642 | 4.75% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,013 | 4.63% |
| Lumberton, NC (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $803 | 4.21% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,800 | 3.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,064 | 3.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,033 | 3.88% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,694 | 3.38% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 3.50% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $965 | 5.63% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,155 | 4.38% |
| Dyersburg, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,864 | 3.63% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,864 | 3.88% |
| Wilson, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,576 | 3.75% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,217 | 5.00% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,762 | 4.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,954 | 4.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,770 | 4.00% |
| Newberry, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,207 | 4.25% |
Similar Lenders
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Product Mix
For 2019, American Security Mortgage Corp.'s most frequently originated type of loan was Conventional, with 2,595 originations. Their 2nd most popular type was FHA, with 500 originations.
Loan Reason
For 2019, American Security Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 2,860 originations. The 2nd most popular reason was Refi, with 546 originations.
Loan Duration/Length
For 2019, American Security Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 3,538 originations. The 2nd most popular length was 15 Year, with 132 originations.
Origination Fees/Closing Costs
American Security Mortgage Corp.'s average total fees were $3,338, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,310 originations.
Interest Rates
During 2019, American Security Mortgage Corp.'s average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 2,072 originations.
Loan Sizing
2019 saw American Security Mortgage Corp. place emphasis on $200k-400k loans with 1,971 originations, totaling $554,705,000 in origination value.
Applicant Income
American Security Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 867 originations. The second most popular income band? $100k-150k, with 847 originations.
Applicant Debt to Income Ratio
American Security Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 849 originations. The next most common DTI ratio? 30-36%, with 754 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.98%
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 origination77.56%
American Security Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,734 | $1,020,880,000 | $273,401 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN EQUITY MORTGAGE | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |