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 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, Myrtle Beach, and Fayetteville among others. We have data for 80 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.29% | 4/21/24 |
| 30 Year Cash-out Refi | 6.67% | 4/21/24 |
| 30 Year FHA Purchase | 7.27% | 4/21/24 |
| 30 Year FHA Refi | 7.05% | 4/21/24 |
| 30 Year VA Purchase | 6.21% | 4/21/24 |
| 30 Year VA Refi | 5.75% | 4/21/24 |
| 30 Year USDA Purchase | 6.73% | 4/21/24 |
| 15 Year Conventional Purchase | 6.02% | 4/21/24 |
| 15 Year Conventional Refi | 6.21% | 4/21/24 |
| 15 Year Cash-out Refi | 6.21% | 4/21/24 |
| 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
6,552Origination Dollar Volume (All Markets)
$1,933,870,000Awards
American Security Mortgage Corp. - 2020
American Security Mortgage Corp. 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3,804 | $1,167,560,000 | $306,930 | $2,698 | 2.97% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 316 | $140,430,000 | $444,399 | $3,747 | 2.87% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 284 | $77,250,000 | $272,007 | $2,910 | 2.98% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 310 | $73,290,000 | $236,419 | $2,788 | 3.06% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 313 | $66,175,000 | $211,422 | $4,081 | 2.95% |
| ASHEVILLE, NC (FHA|USDA|VA) | 189 | $59,045,000 | $312,407 | $2,902 | 2.99% |
| Morehead City, NC (FHA|USDA|VA) | 184 | $46,770,000 | $254,185 | $2,974 | 2.91% |
| WILMINGTON, NC (FHA|USDA|VA) | 169 | $44,705,000 | $264,527 | $2,621 | 2.95% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 104 | $22,250,000 | $213,942 | $2,917 | 2.99% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 57 | $21,335,000 | $374,298 | $2,780 | 2.89% |
| Outside of Metro Areas | 72 | $19,950,000 | $277,083 | $3,333 | 2.93% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 74 | $19,140,000 | $258,649 | $2,888 | 2.99% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 69 | $17,055,000 | $247,174 | $3,419 | 2.91% |
| NEW BERN, NC (FHA|USDA|VA) | 80 | $15,830,000 | $197,875 | $3,310 | 3.03% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 54 | $14,610,000 | $270,556 | $2,919 | 3.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 46 | $12,770,000 | $277,609 | $2,578 | 2.94% |
| Georgetown, SC (FHA|USDA|VA) | 24 | $7,530,000 | $313,750 | $3,299 | 2.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 17 | $6,475,000 | $380,882 | $4,303 | 2.97% |
| Albemarle, NC (FHA|USDA|VA) | 25 | $6,425,000 | $257,000 | $3,327 | 3.03% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 19 | $6,235,000 | $328,158 | $2,952 | 3.28% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 28 | $6,080,000 | $217,143 | $2,942 | 3.18% |
| GOLDSBORO, NC (FHA|USDA|VA) | 25 | $5,335,000 | $213,400 | $3,707 | 3.10% |
| Boone, NC (FHA|USDA|VA) | 16 | $5,100,000 | $318,750 | $2,160 | 2.86% |
| COLUMBIA, SC (FHA|USDA|VA) | 18 | $4,830,000 | $268,333 | $2,673 | 3.16% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 12 | $4,650,000 | $387,500 | $2,288 | 3.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 15 | $4,555,000 | $303,667 | $3,053 | 2.92% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 17 | $4,545,000 | $267,353 | $2,942 | 2.96% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 14 | $4,460,000 | $318,571 | $3,536 | 3.03% |
| Sanford, NC (FHA|USDA|VA) | 15 | $3,715,000 | $247,667 | $2,983 | 2.85% |
| Shelby, NC (FHA|USDA|VA) | 13 | $2,735,000 | $210,385 | $3,123 | 2.80% |
| GREENVILLE, NC (FHA|USDA|VA) | 11 | $2,525,000 | $229,545 | $2,422 | 2.77% |
| Brevard, NC (FHA|USDA|VA) | 7 | $2,485,000 | $355,000 | $2,304 | 3.09% |
| RICHMOND, VA (FHA|USDA|VA) | 7 | $2,475,000 | $353,571 | $2,434 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $2,400,000 | $300,000 | $3,500 | 3.09% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 6 | $2,030,000 | $338,333 | $2,877 | 2.69% |
| Cullowhee, NC (FHA|USDA|VA) | 9 | $1,925,000 | $213,889 | $2,670 | 2.90% |
| SPARTANBURG, SC (FHA|USDA|VA) | 8 | $1,880,000 | $235,000 | $2,327 | 3.16% |
| FLORENCE, SC (FHA|USDA|VA) | 8 | $1,840,000 | $230,000 | $4,236 | 3.09% |
| Seneca, SC (FHA|USDA|VA) | 5 | $1,825,000 | $365,000 | $1,904 | 2.93% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $4,479 | 2.75% |
| Lumberton, NC (FHA|USDA|VA) | 9 | $1,475,000 | $163,889 | $3,597 | 2.83% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $5,185 | 2.84% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $2,432 | 3.09% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $3,414 | 2.94% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $3,278 | 2.75% |
| North Wilkesboro, NC (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $2,300 | 3.60% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $5,780 | 2.75% |
| Forest City, NC (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $2,971 | 3.58% |
| Wilson, NC (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $2,437 | 3.28% |
| Henderson, NC (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $1,613 | 3.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,205 | 3.43% |
| SUMTER, SC (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $2,694 | 3.28% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,949 | 2.44% |
| Kinston, NC (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $2,721 | 2.93% |
| Marion, NC (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $2,763 | 3.13% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $2,780 | 3.13% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,096 | 2.44% |
| Gaffney, SC (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,610 | 3.04% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $1,889 | 2.81% |
| BURLINGTON, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,966 | 3.19% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,435 | 3.13% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,775 | 3.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,776 | 2.75% |
| Rockingham, NC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $779 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,901 | 3.25% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,261 | 3.13% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,420 | 2.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,023 | 2.88% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,164 | 2.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,971 | 2.63% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,164 | 2.94% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,083 | 2.75% |
| Washington, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,481 | 2.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,330 | 3.63% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,456 | 4.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,404 | 2.38% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,947 | 2.50% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,865 | 2.88% |
| Laurinburg, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,975 | 3.00% |
Similar Lenders
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Product Mix
For 2020, American Security Mortgage Corp.'s most frequently originated type of loan was Conventional, with 5,311 originations. Their 2nd most popular type was VA, with 632 originations.
Loan Reason
For 2020, American Security Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 3,346 originations. The 2nd most popular reason was Refi, with 2,515 originations.
Loan Duration/Length
For 2020, American Security Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 5,776 originations. The 2nd most popular length was 15 Year, with 540 originations.
Origination Fees/Closing Costs
American Security Mortgage Corp.'s average total fees were $2,937, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,900 originations.
Interest Rates
During 2020, American Security Mortgage Corp.'s average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,476 originations.
Loan Sizing
2020 saw American Security Mortgage Corp. place emphasis on $200k-400k loans with 3,644 originations, totaling $1,046,620,000 in origination value.
Applicant Income
American Security Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,644 originations. The second most popular income band? $150k-250k, with 1,296 originations.
Applicant Debt to Income Ratio
American Security Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,879 originations. The next most common DTI ratio? 30-36%, with 1,219 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.23%
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 origination80.08%
American Security Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,552 | $1,933,870,000 | $295,157 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 42 | $6,630,000 | $157,857 |
| Single Family (1-4 Units):Site-Built | 6,510 | $1,927,240,000 | $296,043 |
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% |