American First Mortgage Rates, Fees & Info

Brea, CA

LEI: 549300GIVX5W7UETD809

Tax ID: 33-0358683

4.5 stars - Updated: 12/5/24 - out of 5 stars, based on 11 reviews

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

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Mortgage Data

Review & Overview

American First is a smaller mortgage company specializing in Cash Out Refi loans. American First has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Las Vegas, Seattle, Riverside, and San Diego among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

American 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. American 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 relatively high 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
30 Year Conventional Purchase 5.69% 12/5/24
30 Year Conventional Refi 5.49% 12/5/24
30 Year Cash-out Refi 5.39% 12/5/24
15 Year Conventional Purchase 5.68% 12/5/24
15 Year Conventional Refi 3.48% 12/5/24
15 Year Cash-out Refi 3.48% 12/5/24
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.

American First Mortgage Calculator






Your Estimates

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

This is not an official calculator from American 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

120

Origination Dollar Volume (All Markets)

$45,150,000

Relative Rate

American First's average 30 year fixed mortgage rate was 8.15%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.67%.

Relative Fees (Closing Costs)

American First's average total fees/closing costs for a 30 year fixed rate mortgage were $4,553.

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 $9,089.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 61 $12,295,000 $201,557 $4,034 7.46%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $10,475,000 $3,491,667 $5,407 7.37%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $7,155,000 $7,155,000 $0 5.69%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 25 $4,785,000 $191,400 $2,104 7.35%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 8 $4,560,000 $570,000 $5,596 7.19%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $2,995,000 $998,333 $0 6.51%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $540,000 $270,000 $4,292 6.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $515,000 $103,000 $1,559 8.15%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $315,000 $315,000 $6,729 6.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $305,000 $305,000 $4,946 6.25%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $290,000 $145,000 $5,314 8.19%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $275,000 $275,000 $6,807 5.38%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $4,317 6.88%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $5,140 6.38%
Klamath Falls, OR (FHA|USDA|VA) 1 $95,000 $95,000 $0 9.13%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 9.13%
CHICO, CA (FHA|USDA|VA) 1 $65,000 $65,000 $495 7.50%
EL CENTRO, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.13%
TUCSON, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.38%
American First's top markets include Los Angeles, Las Vegas, Seattle, Riverside, and San Diego among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    LBS FINANCIAL
    Similarity Rank: 258
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    Provident Credit Union
    Similarity Rank: 540
    ALTURA
    Similarity Rank: 560
    LA Financial Federal Credit Union
    Similarity Rank: 660
    FRONTWAVE
    Similarity Rank: 660

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $42,990,000 $413,365 $3,820 7.11%
    HELOC 16 $2,160,000 $135,000 n/a 9.20%

    For 2023, American First's most frequently originated type of loan was Conventional, with 104 originations. Their 2nd most popular type was HELOC, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 73 $6,225,000 $85,274 $401 7.75%
    Cash Out Refi 32 $31,200,000 $975,000 $6,575 6.87%
    Home Purchase 10 $3,040,000 $304,000 $5,059 6.76%
    Refi 5 $4,685,000 $937,000 $7,976 6.84%

    For 2023, American First's most frequently cited loan purpose was Other, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 91 $39,495,000 $434,011 $3,579 7.17%
    30 Year 28 $5,520,000 $197,143 $4,553 8.15%
    20 Year 1 $135,000 $135,000 $5,140 6.38%

    For 2023, American First's most frequently cited loan duration was 15 Year, with 91 originations. The 2nd most popular length was 30 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 16 $5,990,000 $374,375
    $5k+ 8 $5,250,000 $656,250
    $2k-3k 5 $1,275,000 $255,000
    $4k-5k 1 $275,000 $275,000

    American First's average total fees were $4,553, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 60 $8,150,000 $135,833
    Over 8% 29 $2,935,000 $101,207
    6-7% 21 $10,725,000 $510,714
    5-6% 10 $23,340,000 $2,334,000

    During 2023, American First's average interest rate for loans was 8.15%, while their most frequently originated rate bucket for loans was 7-8%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $2,965,000 $53,909 $556 7.69%
    $100k-200k 29 $3,885,000 $133,966 $2,315 7.63%
    $200k-400k 15 $3,955,000 $263,667 $4,117 7.07%
    $1MM+ 9 $26,865,000 $2,985,000 $5,470 6.08%
    $600k-1MM 8 $5,510,000 $688,750 $11,334 6.83%
    $400k-600k 4 $1,970,000 $492,500 $5,457 6.91%

    2023 saw American First place emphasis on $100,000 or less loans with 55 originations, totaling $2,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 29 $2,915,000 $100,517 $2,352 7.71%
    $75k-100k 25 $2,535,000 $101,400 $2,176 7.78%
    $150k-250k 23 $3,665,000 $159,348 $4,090 7.29%
    $250k+ 21 $10,225,000 $486,905 $6,626 7.39%
    $50k-75k 10 $830,000 $83,000 $1,908 6.91%
    $50k or less 5 $345,000 $69,000 $1,040 7.33%

    American First lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $75k-100k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $6,675,000 $290,217 $5,744 6.69%
    30-36% 21 $5,125,000 $244,048 $3,434 7.10%
    41% 10 $790,000 $79,000 $446 8.36%
    <20% 9 $3,105,000 $345,000 $6,262 7.22%
    43% 7 $535,000 $76,429 $2,910 7.46%
    49% 5 $575,000 $115,000 $0 8.28%
    40% 5 $715,000 $143,000 $2,141 7.63%
    38% 5 $435,000 $87,000 $411 7.30%
    48% 4 $270,000 $67,500 $395 7.13%
    46% 4 $310,000 $77,500 $395 8.19%
    50-60% 3 $475,000 $158,333 $0 8.92%
    36% 3 $165,000 $55,000 $0 7.75%
    37% 3 $185,000 $61,667 $0 8.25%
    42% 3 $325,000 $108,333 $395 7.88%
    44% 3 $215,000 $71,667 $0 9.63%
    45% 3 $405,000 $135,000 $395 7.96%
    47% 2 $210,000 $105,000 $248 7.25%

    American First lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Other Pacific Islander 6 $21,730,000 $3,621,667 $0 5.88%
    White 63 $13,095,000 $207,857 $4,696 7.42%
    Not provided 34 $5,620,000 $165,294 $2,315 7.58%
    Other Asian 1 $2,905,000 $2,905,000 $0 5.29%
    Asian 9 $915,000 $101,667 $2,121 7.88%
    Black 5 $575,000 $115,000 $4,410 6.95%
    Native Hawaiian or Islander 1 $155,000 $155,000 $0 8.75%
    Filipino 1 $155,000 $155,000 $495 7.13%

    Approval Rates

    Total approvals of all applications
    79.13%

    American First has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    42.50%

    American First has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 120 $45,150,000 $376,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    120 $45,150,000 $376,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $21,475,000 $1,130,263 $3,390 6.90%
    40-60% 7 $4,735,000 $676,429 $3,910 6.52%
    60-80% 15 $11,855,000 $790,333 $8,834 6.56%
    80-100% 3 $1,085,000 $361,667 $5,635 6.38%
    Under 20% 76 $6,000,000 $78,947 $720 7.80%