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, 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 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
6,004Origination Dollar Volume (All Markets)
$1,916,920,000Awards
American Security Mortgage Corp. - 2021
American Security Mortgage Corp. is a 2021 , due to their low .
For 2021, 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) | 3,317 | $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% |
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Product Mix
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications99.10%
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 origination82.76%
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
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% |