America's First Mortgage Rates, Fees & Info
Birmingham, ALLEI: 549300ERL4SV8MDO3P56
Tax ID: 63-0108592
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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
1,279Origination Dollar Volume (All Markets)
$105,395,000Relative 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 applications84.06%
America's First has a below average approval rate.
Pick Rate
Approvals leading to origination81.43%
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% |