American Bancshares Mortgage Rates, Fees & Info

MIAMI LAKES, FL

LEI: 549300EQED7LF41GHV46

Tax ID: 65-0763054

5 stars - Updated: 4/14/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

American Bancshares Mortgage is a smaller mortgage company specializing in Home Purchase loans. American Bancshares Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Ocala, Miami, Orlando, Tampa, and Port St. Lucie among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Bancshares Mortgage 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 Bancshares Mortgage is typically a high 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 relatively high 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 6.83% 4/14/24
30 Year Conventional Refi 6.73% 4/14/24
30 Year Cash-out Refi 7.09% 4/14/24
30 Year FHA Purchase 7.49% 4/14/24
30 Year FHA Refi 6.27% 4/14/24
30 Year VA Purchase 6.48% 4/14/24
30 Year USDA Purchase 6.73% 4/14/24
15 Year Conventional Purchase 5.95% 4/14/24
15 Year Conventional Refi 6.43% 4/14/24
15 Year Cash-out Refi 6.43% 4/14/24
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 Bancshares Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from American Bancshares Mortgage. 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

443

Origination Dollar Volume (All Markets)

$109,145,000

Awards

AMERICAN BANCSHARES MORTGAGE FHA Loans silver AMERICAN BANCSHARES MORTGAGE FHA Loans bronze
Show all (2) awards

Relative Rate

American Bancshares Mortgage's average 30 year fixed mortgage rate was 5.83%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.65%.

Relative Fees (Closing Costs)

American Bancshares Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $9,727.

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 $9,089.

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
OCALA, FL (FHA|USDA|VA) 177 $32,145,000 $181,610 $8,294 5.24%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 81 $28,185,000 $347,963 $12,757 6.53%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 56 $12,770,000 $228,036 $8,578 5.79%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 24 $8,850,000 $368,750 $11,080 6.79%
PORT ST. LUCIE, FL (FHA|USDA|VA) 30 $8,620,000 $287,333 $10,731 6.69%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $2,495,000 $499,000 $15,299 6.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,840,000 $460,000 $14,349 7.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,560,000 $260,000 $11,727 6.73%
GAINESVILLE, FL (FHA|USDA|VA) 7 $1,545,000 $220,714 $7,401 6.13%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 6 $1,440,000 $240,000 $8,859 7.08%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $1,425,000 $203,571 $9,303 4.68%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $1,060,000 $176,667 $6,652 4.48%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $670,000 $167,500 $7,432 4.78%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $625,000 $208,333 $6,412 4.92%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $590,000 $295,000 $13,727 7.19%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $560,000 $280,000 $7,763 5.94%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $365,000 $365,000 $16,320 7.50%
Clewiston, FL (FHA|USDA|VA) 2 $360,000 $180,000 $6,364 3.38%
Lake City, FL (FHA|USDA|VA) 1 $325,000 $325,000 $16,472 6.00%
DOTHAN, AL (FHA|USDA|VA) 1 $295,000 $295,000 $4,023 9.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $295,000 $295,000 $12,980 6.88%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $290,000 $145,000 $5,211 8.44%
DECATUR, AL (FHA|USDA|VA) 1 $285,000 $285,000 $4,381 7.38%
THE VILLAGES, FL (FHA|USDA|VA) 2 $280,000 $140,000 $6,915 6.44%
SPARTANBURG, SC (FHA|USDA|VA) 1 $275,000 $275,000 $7,851 6.38%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $275,000 $275,000 $13,957 6.75%
Okeechobee, FL (FHA|USDA|VA) 1 $255,000 $255,000 $12,608 7.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $215,000 $215,000 $5,968 6.62%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $205,000 $205,000 $8,529 7.00%
West Point, MS (FHA|USDA|VA) 1 $195,000 $195,000 $5,182 6.38%
Palatka, FL (FHA|USDA|VA) 2 $190,000 $95,000 $3,462 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 8.75%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $165,000 $165,000 $5,297 7.50%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $165,000 $165,000 $0 8.75%
GAINESVILLE, GA (FHA|USDA|VA) 1 $155,000 $155,000 $7,347 7.50%
American Bancshares Mortgage's top markets include Ocala, Miami, Orlando, Tampa, and Port St. Lucie among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AMERICAN BANCSHARES MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Oak Federal Credit Union
    Similarity Rank: 24
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    HOMEFIELD
    Similarity Rank: 75
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    GREYLOCK
    Similarity Rank: 160

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 267 $58,945,000 $220,768 $7,253 5.38%
    FHA 143 $40,325,000 $281,993 $13,040 6.70%
    USDA 17 $4,235,000 $249,118 $10,892 6.31%
    VA 16 $5,640,000 $352,500 $13,030 6.62%

    For 2023, American Bancshares Mortgage's most frequently originated type of loan was Conventional, with 267 originations. Their 2nd most popular type was FHA, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 425 $104,205,000 $245,188 $9,547 5.83%
    Cash Out Refi 14 $3,830,000 $273,571 $11,226 7.54%
    Refi 4 $1,110,000 $277,500 $10,920 5.97%

    For 2023, American Bancshares Mortgage's most frequently cited loan purpose was Home Purchase, with 425 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 434 $107,970,000 $248,779 $9,727 5.83%
    10 Year 5 $45,000 $9,000 $101 9.88%
    15 Year 3 $945,000 $315,000 $9,984 6.38%
    20 Year 1 $185,000 $185,000 $0 8.13%

    For 2023, American Bancshares Mortgage's most frequently cited loan duration was 30 Year, with 434 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 159 $54,295,000 $341,478
    $1k-2k 78 $20,760,000 $266,154
    $<1k 77 $2,035,000 $26,429
    $3k-4k 48 $12,560,000 $261,667
    $4k-5k 38 $9,180,000 $241,579
    $2k-3k 31 $6,965,000 $224,677

    American Bancshares Mortgage's average total fees were $9,727, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 159 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 175 $49,025,000 $280,143
    7-8% 131 $41,075,000 $313,550
    <2.5% 67 $1,015,000 $15,149
    5-6% 49 $13,785,000 $281,327
    Over 8% 20 $3,960,000 $198,000
    4-5% 1 $285,000 $285,000

    During 2023, American Bancshares Mortgage's average interest rate for loans was 5.83%, while their most frequently originated rate bucket for loans was 6-7%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 231 $65,445,000 $283,312 $11,238 6.87%
    $100k-200k 82 $13,430,000 $163,780 $7,321 6.85%
    $100,000 or less 75 $1,245,000 $16,600 $189 0.97%
    $400k-600k 39 $17,995,000 $461,410 $16,315 7.06%
    $600k-1MM 16 $11,030,000 $689,375 $17,091 7.00%

    2023 saw American Bancshares Mortgage place emphasis on $200k-400k loans with 231 originations, totaling $65,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 155 $25,875,000 $166,935 $7,650 4.97%
    $75k-100k 107 $26,085,000 $243,785 $10,449 5.80%
    $100k-150k 94 $28,240,000 $300,426 $10,694 6.63%
    $150k-250k 30 $11,710,000 $390,333 $12,339 7.19%
    $250k+ 30 $13,480,000 $449,333 $13,591 7.47%
    $50k or less 25 $3,415,000 $136,600 $6,146 5.38%

    American Bancshares Mortgage lent most frequently to those with incomes in the $50k-75k range, with 155 originations. The second most popular income band? $75k-100k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 50 $14,690,000 $293,800 $13,667 6.23%
    49% 45 $11,655,000 $259,000 $9,679 6.07%
    30-36% 43 $11,955,000 $278,023 $8,879 6.29%
    20-30% 41 $10,365,000 $252,805 $8,452 5.95%
    <20% 32 $3,220,000 $100,625 $3,437 2.82%
    46% 29 $6,665,000 $229,828 $8,837 5.84%
    43% 23 $6,225,000 $270,652 $11,414 6.71%
    48% 22 $5,330,000 $242,273 $9,122 5.94%
    47% 21 $6,225,000 $296,429 $12,157 6.37%
    39% 21 $3,325,000 $158,333 $6,117 5.15%
    44% 18 $4,230,000 $235,000 $8,619 5.24%
    45% 16 $3,970,000 $248,125 $9,840 6.34%
    40% 16 $3,430,000 $214,375 $7,828 5.57%
    41% 15 $3,915,000 $261,000 $11,498 6.69%
    42% 13 $3,075,000 $236,538 $7,774 5.85%
    36% 12 $3,520,000 $293,333 $11,291 6.34%
    38% 11 $3,145,000 $285,909 $10,717 6.41%
    37% 9 $2,375,000 $263,889 $10,877 7.33%
    >60% 3 $1,295,000 $431,667 $14,113 7.21%

    American Bancshares Mortgage lent most frequently to those with DTI ratios of 50-60%, with 50 originations. The next most common DTI ratio? 49%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 348 $87,310,000 $250,891 $9,784 6.01%
    Not provided 49 $11,295,000 $230,510 $9,430 5.59%
    Black 44 $10,150,000 $230,682 $8,617 5.15%
    Asian 2 $390,000 $195,000 $6,308 6.94%

    Approval Rates

    Total approvals of all applications
    91.39%

    American Bancshares Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.88%

    American Bancshares Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 443 $109,145,000 $246,377

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    443 $109,145,000 $246,377

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,210,000 $151,250 $5,925 6.42%
    40-60% 39 $9,255,000 $237,308 $8,774 7.10%
    60-80% 73 $21,805,000 $298,699 $10,233 7.02%
    80-100% 252 $75,330,000 $298,929 $11,759 6.72%
    Over 100% 1 $285,000 $285,000 $11,688 7.00%
    Under 20% 70 $1,260,000 $18,000 $189 0.94%