America's First Mortgage Rates, Fees & Info

Birmingham, AL

LEI: 549300ERL4SV8MDO3P56

Tax ID: 63-0108592

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    • Review & Overview

    America's First is a smaller mortgage company specializing in Other, Refi, and Cash Out Refi loans. America's First has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Cullman, Mobile, Talladega, and Tuscaloosa among others. We have data for 16 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 a low 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% 11/21/24
    30 Year Conventional Purchase 5.47% 11/21/24
    30 Year Conventional Refi 5.65% 11/21/24
    30 Year Cash-out Refi 5.76% 11/21/24
    15 Year Conventional Purchase 5.24% 11/21/24
    15 Year Conventional Refi 5.49% 11/21/24
    15 Year Cash-out Refi 5.49% 11/21/24
    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

    1,408

    Origination Dollar Volume (All Markets)

    $111,290,000

    Awards

    AMERICA'S FIRST 30 Year Conventional Loans gold AMERICA'S FIRST 30 Year Conventional Loans gold AMERICA'S FIRST 30 Year Conventional Loans gold AMERICA'S FIRST 30 Year Conventional Loans gold
    Show all (4) awards

    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) 1,115 $86,575,000 $77,646 $1,945 4.53%
    Cullman, AL (FHA|USDA|VA) 68 $5,220,000 $76,765 $1,421 4.34%
    MOBILE, AL (FHA|USDA|VA) 50 $3,700,000 $74,000 $2,313 4.41%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 45 $3,635,000 $80,778 $2,415 4.68%
    TUSCALOOSA, AL (FHA|USDA|VA) 30 $3,230,000 $107,667 $4,215 4.31%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 45 $2,775,000 $61,667 $2,166 4.43%
    Outside of Metro Areas 12 $1,720,000 $143,333 $2,976 3.83%
    Jasper, AL (FHA|USDA|VA) 13 $1,665,000 $128,077 $4,050 4.17%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 15 $1,115,000 $74,333 $3,799 4.40%
    Albertville, AL (FHA|USDA|VA) 3 $545,000 $181,667 $388 3.28%
    Alexander City, AL (FHA|USDA|VA) 4 $540,000 $135,000 $1,517 4.13%
    GADSDEN, AL (FHA|USDA|VA) 3 $265,000 $88,333 $0 4.75%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.25%
    DECATUR, AL (FHA|USDA|VA) 1 $75,000 $75,000 $2,210 3.25%
    MONTGOMERY, AL (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.63%
    Selma, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.75%
    America's First's top markets include Birmingham, Cullman, Mobile, Talladega, and Tuscaloosa 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.

    AMERICA'S FIRST
    Similarity Rank: 80
    REDSTONE Federal Credit Union
    Similarity Rank: 528
    Liberty Mortgage Corporation
    Similarity Rank: 748
    Eco Credit Union
    Similarity Rank: 805
    Tyndall Federal Credit Union
    Similarity Rank: 1159
    Progress Bank and Trust
    Similarity Rank: 1537
    APCO EMPLOYEES
    Similarity Rank: 1664
    AVADIAN
    Similarity Rank: 2040
    RESOURCE FINANCIAL SERVICES, INC.
    Similarity Rank: 2048
    EvaBank
    Similarity Rank: 2640

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,011 $51,315,000 $50,757 n/a 4.87%
    Conventional 397 $59,975,000 $151,071 $2,076 3.56%

    For 2019, America's First's most frequently originated type of loan was HELOC, with 1,011 originations. Their 2nd most popular type was Conventional, with 397 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 447 $22,265,000 $49,810 $1,529 5.03%
    Home Improvement 395 $18,345,000 $46,443 $2,438 4.72%
    Refi 256 $25,060,000 $97,891 $2,330 4.11%
    Cash Out Refi 212 $33,120,000 $156,226 $2,048 3.66%
    Home Purchase 98 $12,500,000 $127,551 $1,996 3.99%

    For 2019, America's First's most frequently cited loan purpose was Other, with 447 originations. The 2nd most popular reason was Home Improvement, with 395 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 859 $44,725,000 $52,066 $2,279 5.16%
    15 Year 464 $51,030,000 $109,978 $2,129 3.39%
    30 Year 70 $13,950,000 $199,286 $1,743 3.39%
    5 Year 9 $1,135,000 $126,111 $2,298 6.25%
    Other 6 $450,000 $75,000 $1,879 4.88%

    For 2019, America's First's most frequently cited loan duration was 10 Year, with 859 originations. The 2nd most popular length was 15 Year, with 464 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 284 $43,760,000 $154,085
    $1k-2k 81 $7,545,000 $93,148
    $2k-3k 18 $3,850,000 $213,889
    $3k-4k 6 $2,010,000 $335,000
    $4k-5k 3 $1,595,000 $531,667
    $5k+ 1 $745,000 $745,000

    America's First's average total fees were $1,743, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 284 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 512 $29,410,000 $57,441
    3-4% 371 $55,375,000 $149,259
    5-6% 287 $12,625,000 $43,990
    <2.5% 86 $6,370,000 $74,070
    6-7% 81 $3,645,000 $45,000
    2.5-3% 53 $3,265,000 $61,604
    7-8% 17 $565,000 $33,235
    Over 8% 1 $35,000 $35,000

    During 2019, America's First's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 4-5%, with 512 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,004 $42,780,000 $42,610 $2,021 4.81%
    $100k-200k 312 $42,660,000 $136,731 $2,074 3.77%
    $200k-400k 84 $21,610,000 $257,262 $1,841 3.54%
    $400k-600k 6 $2,690,000 $448,333 $4,414 3.35%
    $600k-1MM 2 $1,550,000 $775,000 $8,566 3.99%

    2019 saw America's First place emphasis on $100,000 or less loans with 1,004 originations, totaling $42,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 355 $22,055,000 $62,127 $1,985 4.63%
    $100k-150k 322 $27,910,000 $86,677 $1,915 4.44%
    $75k-100k 279 $22,145,000 $79,373 $1,992 4.49%
    $50k or less 233 $11,365,000 $48,777 $1,971 4.59%
    $150k-250k 149 $17,995,000 $120,772 $2,016 4.33%
    $250k+ 39 $5,925,000 $151,923 $4,977 4.33%

    America's First lent most frequently to those with incomes in the $50k-75k range, with 355 originations. The second most popular income band? $100k-150k, with 322 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 394 $34,000,000 $86,294 $2,205 4.26%
    30-36% 244 $20,300,000 $83,197 $2,177 4.52%
    <20% 234 $17,780,000 $75,983 $2,440 4.30%
    50-60% 121 $6,125,000 $50,620 $3,007 4.93%
    38% 46 $3,930,000 $85,435 $2,002 4.40%
    39% 39 $3,155,000 $80,897 $891 4.94%
    37% 38 $3,660,000 $96,316 $830 4.54%
    41% 33 $2,945,000 $89,242 $2,268 4.59%
    48% 29 $1,875,000 $64,655 $1,213 4.84%
    36% 29 $2,635,000 $90,862 $2,078 4.23%
    44% 29 $2,225,000 $76,724 $1,937 4.55%
    49% 27 $2,055,000 $76,111 $1,216 5.02%
    45% 25 $1,665,000 $66,600 $450 4.81%
    47% 24 $1,590,000 $66,250 $2,093 4.94%
    46% 24 $1,400,000 $58,333 $634 5.03%
    42% 23 $2,075,000 $90,217 $589 4.61%
    40% 23 $1,515,000 $65,870 $1,691 4.68%
    43% 21 $1,995,000 $95,000 $2,896 4.58%
    >60% 2 $110,000 $55,000 $0 5.75%

    America's First lent most frequently to those with DTI ratios of 20-30%, with 394 originations. The next most common DTI ratio? 30-36%, with 244 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,130 $92,290,000 $81,673 $2,002 4.46%
    Black 186 $11,590,000 $62,312 $2,333 4.75%
    Not provided 65 $4,005,000 $61,615 $2,230 4.40%
    Asian 16 $2,100,000 $131,250 $3,208 4.23%
    American Indian 4 $700,000 $175,000 $965 4.31%
    Not applicable 4 $280,000 $70,000 $0 5.75%
    Asian Indian 1 $165,000 $165,000 $3,285 3.88%
    Other Asian 1 $125,000 $125,000 $0 4.75%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    83.72%

    America's First has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.38%

    America's First has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,408 $111,290,000 $79,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 1,407 $111,255,000 $79,072

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 392 $23,180,000 $59,133 $2,080 4.75%
    40-60% 180 $16,320,000 $90,667 $2,283 4.17%
    60-80% 180 $25,520,000 $141,778 $1,722 3.77%
    80-100% 176 $29,190,000 $165,852 $2,238 3.79%
    Under 20% 480 $17,080,000 $35,583 $1,768 4.94%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 1 100.0%