America's First Mortgage Rates, Fees & Info

Birmingham, AL

LEI: 549300ERL4SV8MDO3P56

Tax ID: 63-0108592

5 stars - Updated: 3/3/24 - out of 5 stars, based on 46 reviews

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

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Mortgage Data

Review & Overview

America's First is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. America's First has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Cullman, Mobile, Talladega, and Daphne among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

America's First has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. America's First is typically an average 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.

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
Home Equity Line of Credit (HELOC) 6.73% 3/3/24
30 Year Conventional Purchase 5.47% 3/3/24
30 Year Conventional Refi 5.65% 3/3/24
30 Year Cash-out Refi 5.76% 3/3/24
15 Year Conventional Purchase 5.24% 3/3/24
15 Year Conventional Refi 5.49% 3/3/24
15 Year Cash-out Refi 5.49% 3/3/24
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.

America's First Mortgage Calculator






Your Estimates

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

This is not an official calculator from America's First. 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

2,105

Origination Dollar Volume (All Markets)

$226,675,000

Relative Rate

America's First's average 30 year fixed mortgage rate was 3.75%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -1.01%.

Relative Fees (Closing Costs)

America's First's average total fees/closing costs for a 30 year fixed rate mortgage were $5,038.

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 $4,750.

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
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1,747 $189,575,000 $108,515 $4,778 3.80%
Cullman, AL (FHA|USDA|VA) 78 $7,700,000 $98,718 $4,609 3.92%
MOBILE, AL (FHA|USDA|VA) 57 $5,295,000 $92,895 $4,172 3.92%
Talladega-Sylacauga, AL (FHA|USDA|VA) 53 $4,935,000 $93,113 $4,221 3.80%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 26 $4,370,000 $168,077 $5,572 3.73%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 43 $3,925,000 $91,279 $4,138 3.70%
Jasper, AL (FHA|USDA|VA) 22 $3,250,000 $147,727 $5,085 3.94%
TUSCALOOSA, AL (FHA|USDA|VA) 38 $2,900,000 $76,316 $4,233 3.55%
GADSDEN, AL (FHA|USDA|VA) 10 $1,070,000 $107,000 $3,836 2.97%
Outside of Metro Areas 10 $1,040,000 $104,000 $5,089 4.20%
DECATUR, AL (FHA|USDA|VA) 8 $740,000 $92,500 $4,118 3.20%
MONTGOMERY, AL (FHA|USDA|VA) 3 $485,000 $161,667 $5,936 3.83%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $420,000 $210,000 $4,546 2.56%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $410,000 $205,000 $5,028 3.13%
Albertville, AL (FHA|USDA|VA) 2 $260,000 $130,000 $3,796 2.88%
Alexander City, AL (FHA|USDA|VA) 3 $235,000 $78,333 $2,363 3.06%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
America's First's top markets include Birmingham, Cullman, Mobile, Talladega, and Daphne among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

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

    Liberty Mortgage Corporation
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,575 $112,045,000 $71,140 n/a 3.87%
    Conventional 530 $114,630,000 $216,283 $4,703 3.56%

    For 2022, America's First's most frequently originated type of loan was HELOC, with 1,575 originations. Their 2nd most popular type was Conventional, with 530 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 745 $50,545,000 $67,846 $4,053 3.79%
    Other 595 $38,265,000 $64,311 $4,003 3.98%
    Home Purchase 294 $66,100,000 $224,830 $4,975 3.89%
    Refi 238 $27,530,000 $115,672 $4,252 3.66%
    Cash Out Refi 233 $44,235,000 $189,850 $4,529 3.36%

    For 2022, America's First's most frequently cited loan purpose was Home Improvement, with 745 originations. The 2nd most popular reason was Other, with 595 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,396 $98,080,000 $70,258 $3,229 4.01%
    30 Year 354 $87,070,000 $245,960 $5,038 3.75%
    15 Year 285 $29,265,000 $102,684 $4,017 2.92%
    20 Year 60 $10,410,000 $173,500 $4,301 3.32%
    5 Year 8 $1,400,000 $175,000 $0 4.59%
    Other 2 $450,000 $225,000 $4,810 2.13%

    For 2022, America's First's most frequently cited loan duration was 10 Year, with 1,396 originations. The 2nd most popular length was 30 Year, with 354 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 192 $33,760,000 $175,833
    $1k-2k 142 $12,430,000 $87,535
    $3k-4k 102 $28,200,000 $276,471
    $4k-5k 49 $18,395,000 $375,408
    $5k+ 42 $21,700,000 $516,667
    $<1k 2 $60,000 $30,000

    America's First's average total fees were $5,038, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 877 $92,035,000 $104,943
    2.5-3% 532 $62,550,000 $117,575
    4-5% 355 $36,495,000 $102,803
    <2.5% 152 $17,730,000 $116,645
    5-6% 123 $12,495,000 $101,585
    6-7% 60 $4,920,000 $82,000
    7-8% 6 $450,000 $75,000

    During 2022, America's First's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 877 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,349 $65,735,000 $48,729 $2,909 3.88%
    $100k-200k 441 $61,245,000 $138,878 $3,963 3.74%
    $200k-400k 254 $68,920,000 $271,339 $5,429 3.51%
    $400k-600k 53 $25,305,000 $477,453 $7,668 3.53%
    $600k-1MM 7 $4,365,000 $623,571 $9,620 3.30%
    $1MM+ 1 $1,105,000 $1,105,000 $0 3.25%

    2022 saw America's First place emphasis on $100,000 or less loans with 1,349 originations, totaling $65,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 524 $63,260,000 $120,725 $5,223 3.76%
    $50k-75k 462 $39,230,000 $84,913 $4,103 3.82%
    $75k-100k 377 $38,585,000 $102,347 $4,582 3.89%
    $150k-250k 320 $45,770,000 $143,031 $6,125 3.68%
    $50k or less 298 $19,890,000 $66,745 $3,627 3.85%
    $250k+ 84 $17,610,000 $209,643 $7,429 3.55%

    America's First lent most frequently to those with incomes in the $100k-150k range, with 524 originations. The second most popular income band? $50k-75k, with 462 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 560 $61,890,000 $110,518 $4,622 3.63%
    30-36% 351 $40,575,000 $115,598 $5,009 3.82%
    <20% 312 $31,090,000 $99,647 $4,276 3.51%
    50-60% 201 $15,125,000 $75,249 $0 4.20%
    36% 65 $8,485,000 $130,538 $5,418 3.81%
    43% 57 $5,815,000 $102,018 $4,660 3.71%
    38% 57 $6,305,000 $110,614 $4,369 4.05%
    37% 56 $6,300,000 $112,500 $4,820 3.78%
    39% 55 $5,435,000 $98,818 $4,855 4.14%
    40% 55 $5,975,000 $108,636 $5,139 4.10%
    46% 45 $5,935,000 $131,889 $4,847 3.80%
    41% 43 $5,025,000 $116,860 $4,961 4.13%
    42% 42 $4,770,000 $113,571 $4,539 3.88%
    47% 41 $3,665,000 $89,390 $5,004 4.14%
    45% 40 $4,550,000 $113,750 $4,400 3.72%
    48% 39 $5,605,000 $143,718 $5,868 4.12%
    44% 37 $4,765,000 $128,784 $4,985 4.06%
    49% 35 $3,595,000 $102,714 $4,115 3.70%
    >60% 14 $1,770,000 $126,429 $5,761 3.57%

    America's First lent most frequently to those with DTI ratios of 20-30%, with 560 originations. The next most common DTI ratio? 30-36%, with 351 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,625 $176,275,000 $108,477 $4,766 3.75%
    Black 311 $28,835,000 $92,717 $4,244 4.02%
    Not provided 141 $16,115,000 $114,291 $4,788 3.81%
    Asian 14 $2,890,000 $206,429 $6,526 3.74%
    American Indian 9 $1,695,000 $188,333 $5,662 3.58%
    Asian Indian 2 $610,000 $305,000 $0 3.50%
    Filipino 1 $105,000 $105,000 $0 4.35%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 4.00%
    Other Pacific Islander 1 $65,000 $65,000 $0 4.60%

    Approval Rates

    Total approvals of all applications
    87.22%

    America's First has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.80%

    America's First has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $85,000 $85,000
    NA 2,104 $226,590,000 $107,695

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,105 $226,675,000 $107,684

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 596 $49,800,000 $83,557 $3,540 3.87%
    40-60% 215 $29,605,000 $137,698 $4,209 3.57%
    60-80% 264 $54,410,000 $206,098 $4,841 3.50%
    80-100% 248 $57,730,000 $232,782 $4,980 3.87%
    Under 20% 782 $35,130,000 $44,923 $2,453 3.88%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    American Financial Network Inc. FHA mortgage Trouble during payment process 1 100.0%