America's First Mortgage Rates, Fees & Info
Birmingham, ALLEI: 549300ERL4SV8MDO3P56
Tax ID: 63-0108592
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.73% | 5/27/23 |
| 30 Year Conventional Purchase | 5.47% | 5/27/23 |
| 30 Year Conventional Refi | 5.65% | 5/27/23 |
| 30 Year Cash-out Refi | 5.76% | 5/27/23 |
| 15 Year Conventional Purchase | 5.24% | 5/27/23 |
| 15 Year Conventional Refi | 5.49% | 5/27/23 |
| 15 Year Cash-out Refi | 5.49% | 5/27/23 |
| 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
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This is not an official calculator from America's First. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,105Origination Dollar Volume (All Markets)
$226,675,000Relative 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% |
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.
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications87.22%
America's First has an average approval rate.
Pick Rate
Approvals leading to origination85.80%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| American Financial Network Inc. | FHA mortgage | Trouble during payment process | 1 | 100.0% |