America's First Mortgage Rates, Fees & Info

Birmingham, AL

LEI: 549300ERL4SV8MDO3P56

Tax ID: 63-0108592

5 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Overview

    America's First is a smaller mortgage company specializing in Home Improvement, Refi, and Cash Out Refi loans. America's First has a high proportion of conventional loans. Their top markets include Birmingham, Talladega, Mobile, Cullman, and Anniston among others. America's First has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. America's First is typically an average fee lendor.


    Originations

    1,279

    Origination Dollar Volume (All Markets)

    $105,395,000

    Relative Rate

    America's First's average 30 year fixed rate mortgage of loans were 3.1%.

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

    This yields a difference of -0.05%.

    Relative Fees

    America's First's average total fees for a 30 year fixed rate mortgage are $4,714.

    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
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1,032 $83,500,000 $80,911 $3,969 3.33%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 42 $4,080,000 $97,143 $3,893 3.28%
    MOBILE, AL (FHA|USDA|VA) 48 $3,610,000 $75,208 $3,530 3.04%
    Cullman, AL (FHA|USDA|VA) 37 $3,575,000 $96,622 $3,908 2.89%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 37 $2,845,000 $76,892 $3,744 3.49%
    TUSCALOOSA, AL (FHA|USDA|VA) 29 $2,755,000 $95,000 $4,451 3.14%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 20 $2,310,000 $115,500 $4,240 3.13%
    Outside of Metro Areas 15 $1,285,000 $85,667 $3,340 3.02%
    Jasper, AL (FHA|USDA|VA) 7 $575,000 $82,143 $3,641 2.89%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $325,000 $108,333 $3,453 2.56%
    DECATUR, AL (FHA|USDA|VA) 3 $235,000 $78,333 $0 3.20%
    GADSDEN, AL (FHA|USDA|VA) 4 $210,000 $52,500 $2,902 4.29%
    Alexander City, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.75%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.75%

    America's First's top markets include Birmingham, Talladega, Mobile, Cullman, and Anniston among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 1,279 $105,395,000 $82,404 $3,926 3.30%

    For the 2021 period, America's First's most frequently originated loan type of loans were Conventional, with 1,279 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Home Improvement 503 $28,685,000 $57,028 $0 3.35%
    Other 332 $19,920,000 $60,000 $3,016 3.52%
    Refi 215 $23,715,000 $110,302 $3,900 3.15%
    Cash Out Refi 153 $23,635,000 $154,477 $4,056 2.94%
    Home Purchase 76 $9,440,000 $124,211 $3,623 3.13%

    For the 2021, America's First's most frequently cited loan purpose of loans were Home Improvement, with 503 originations. The 2nd most popular reason of loans were Other, with 332 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 901 $58,175,000 $64,567 $3,178 3.55%
    15 Year 264 $26,900,000 $101,894 $3,713 2.52%
    30 Year 61 $12,525,000 $205,328 $4,714 3.10%
    20 Year 48 $6,900,000 $143,750 $3,773 3.03%
    5 Year 5 $895,000 $179,000 $0 4.25%

    For the 2021, America's First's most frequently cited loan length of loans were 10 Year, with 901 originations. The 2nd most popular length of loans were 15 Year, with 264 originations.

    Origination Fees

    Origination Fee Originations Total Value Average Loan
    $1k-2k 130 $11,920,000 $91,692
    $2k-3k 67 $12,215,000 $182,313
    $3k-4k 40 $11,930,000 $298,250
    $<1k 7 $275,000 $39,286
    $5k+ 1 $475,000 $475,000

    $4,714 of loans were America's First's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 636 $58,740,000 $92,358
    3-4% 341 $22,235,000 $65,205
    <2.5% 160 $16,610,000 $103,813
    4-5% 94 $5,810,000 $61,809
    5-6% 42 $1,620,000 $38,571
    6-7% 5 $325,000 $65,000
    Over 8% 1 $55,000 $55,000

    During 2021, America's First's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 2.5-3%, with 636 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 939 $44,575,000 $47,471 $2,912 3.40%
    $100k-200k 237 $31,145,000 $131,414 $3,803 3.06%
    $200k-400k 90 $23,930,000 $265,889 $5,433 2.89%
    $400k-600k 13 $5,745,000 $441,923 $7,713 2.87%

    2021 saw America's First place emphasis on $100,000 or less loans with 939 originations, totaling $44,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 293 $20,845,000 $71,143 $3,805 3.40%
    $100k-150k 270 $24,120,000 $89,333 $4,356 3.33%
    $75k-100k 258 $19,680,000 $76,279 $3,901 3.32%
    $50k or less 235 $13,545,000 $57,638 $3,265 3.29%
    $150k-250k 170 $17,960,000 $105,647 $5,689 3.09%
    $250k+ 52 $8,770,000 $168,654 $5,384 3.16%

    America's First lent most frequently to those with incomes in the $50k-75k range, with 293 originations. The second most popular income band? $100k-150k, with 270 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 316 $25,480,000 $80,633 $3,881 3.22%
    <20% 240 $17,850,000 $74,375 $3,632 3.14%
    30-36% 217 $18,815,000 $86,705 $3,899 3.30%
    50-60% 112 $7,760,000 $69,286 $3,557 3.39%
    43% 32 $3,430,000 $107,188 $5,564 3.37%
    37% 32 $2,860,000 $89,375 $3,532 3.54%
    42% 31 $2,015,000 $65,000 $4,677 3.30%
    38% 31 $2,635,000 $85,000 $3,763 3.34%
    44% 31 $2,615,000 $84,355 $4,019 3.44%
    45% 29 $2,395,000 $82,586 $4,424 3.77%
    39% 27 $2,745,000 $101,667 $4,175 3.31%
    36% 27 $1,995,000 $73,889 $3,590 3.34%
    40% 26 $2,940,000 $113,077 $4,447 3.31%
    48% 26 $2,660,000 $102,308 $4,145 3.69%
    41% 26 $2,390,000 $91,923 $4,133 3.61%
    49% 24 $2,370,000 $98,750 $4,070 3.09%
    47% 21 $2,085,000 $99,286 $3,750 3.56%
    >60% 17 $1,265,000 $74,412 $0 3.34%
    46% 14 $1,090,000 $77,857 $4,196 3.35%

    America's First lent most frequently to those with DTI ratios of 20-30%, with 316 originations. The next most common DTI ratio? <20%, with 240 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 987 $82,735,000 $83,825 $3,971 3.26%
    Black 210 $14,460,000 $68,857 $3,736 3.51%
    Not provided 63 $5,795,000 $91,984 $4,182 3.29%
    Asian 14 $1,910,000 $136,429 $4,910 2.90%
    American Indian 5 $495,000 $99,000 $3,905 3.34%

    Approval Rates

    Total approvals of all applications
    84.06%

    America's First has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.43%

    America's First has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,279 $105,395,000 $82,404

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,279 $105,395,000 $82,404

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 380 $26,440,000 $69,579 $3,133 3.27%
    40-60% 165 $18,675,000 $113,182 $3,899 3.05%
    60-80% 145 $22,695,000 $156,517 $4,063 3.19%
    80-100% 97 $16,385,000 $168,918 $4,096 3.18%
    Under 20% 492 $21,200,000 $43,089 $2,421 3.46%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Incorrect information on your report 1 33.3%
    AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 33.3%
    AMERICA FIRST FEDERAL CREDIT UNION Other type of mortgage Struggling to pay mortgage 1 33.3%