American First Mortgage Rates, Fees & Info

Brea, CA

LEI: 549300GIVX5W7UETD809

Tax ID: 33-0358683

5 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

American First is a smaller mortgage company specializing in Cash Out Refi and Refi loans. American First has a high proportion of conventional loans. Their top markets include Los Angeles, San Diego, Riverside, Fresno, and Phoenix among others. American 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. American First is typically an average fee lendor.


Originations

403

Origination Dollar Volume (All Markets)

$203,935,000

Awards

AMERICAN FIRST 30 Year Conventional Loans silver AMERICAN FIRST 30 Year Conventional Loans silver AMERICAN FIRST 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

American First's average 30 year fixed rate mortgage of loans were 3.21%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.06%.

Relative Fees

American First's average total fees for a 30 year fixed rate mortgage are $3,475.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 210 $98,040,000 $466,857 $3,948 3.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 25 $27,485,000 $1,099,400 $3,160 3.24%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 70 $23,420,000 $334,571 $3,299 3.03%
FRESNO, CA (FHA|USDA|VA) 6 $8,160,000 $1,360,000 $4,167 3.34%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $6,935,000 $630,455 $3,233 3.18%
STOCKTON, CA (FHA|USDA|VA) 4 $6,110,000 $1,527,500 $3,073 3.18%
BAKERSFIELD, CA (FHA|USDA|VA) 5 $3,665,000 $733,000 $4,010 3.66%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $2,640,000 $440,000 $2,928 3.27%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $2,540,000 $1,270,000 $0 3.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $2,205,000 $441,000 $3,123 3.20%
MADERA, CA (FHA|USDA|VA) 2 $2,140,000 $1,070,000 $2,979 3.32%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $1,920,000 $960,000 $5,705 3.56%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 3.60%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $1,575,000 $1,575,000 $0 3.92%
Vicksburg, MS (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 3.66%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 8 $1,440,000 $180,000 $2,930 3.31%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,305,000 $435,000 $2,995 3.27%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 3.39%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,170,000 $292,500 $3,461 2.78%
VISALIA, CA (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 3.89%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $875,000 $875,000 $0 3.39%
TUCSON, AZ (FHA|USDA|VA) 1 $805,000 $805,000 $0 3.86%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $635,000 $211,667 $2,730 2.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $590,000 $295,000 $3,554 3.31%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $535,000 $178,333 $2,972 2.71%
PUEBLO, CO (FHA|USDA|VA) 4 $510,000 $127,500 $3,144 4.13%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $390,000 $195,000 $2,677 3.13%
Breckenridge, CO (FHA|USDA|VA) 1 $375,000 $375,000 $3,491 3.50%
BOISE CITY, ID (FHA|USDA|VA) 2 $340,000 $170,000 $3,963 3.31%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $5,394 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $275,000 $275,000 $3,922 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $275,000 $275,000 $3,937 2.88%
VALLEJO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,647 2.88%
Roseburg, OR (FHA|USDA|VA) 1 $205,000 $205,000 $3,590 3.00%
SALINAS, CA (FHA|USDA|VA) 2 $180,000 $90,000 $2,583 3.56%
MODESTO, CA (FHA|USDA|VA) 1 $165,000 $165,000 $3,310 2.75%
Cedar City, UT (FHA|USDA|VA) 1 $165,000 $165,000 $2,501 2.13%
Gallup, NM (FHA|USDA|VA) 1 $145,000 $145,000 $4,278 3.25%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $135,000 $135,000 $2,616 2.38%
EL CENTRO, CA (FHA|USDA|VA) 1 $105,000 $105,000 $3,016 2.38%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $2,462 2.50%
Outside of Metro Areas 1 $85,000 $85,000 $3,716 2.75%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,455 2.75%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $65,000 $65,000 $2,655 2.50%

American First's top markets include Los Angeles, San Diego, Riverside, Fresno, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 403 $203,935,000 $506,042 $3,652 3.14%

For the 2021 period, American First's most frequently originated loan type of loans were Conventional, with 403 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 216 $108,320,000 $501,481 $3,467 3.23%
Refi 128 $64,440,000 $503,438 $3,430 2.87%
Home Purchase 37 $28,235,000 $763,108 $5,623 3.14%
Other 22 $2,940,000 $133,636 $0 3.97%

For the 2021, American First's most frequently cited loan purpose of loans were Cash Out Refi, with 216 originations. The 2nd most popular reason of loans were Refi, with 128 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 237 $73,935,000 $311,962 $3,475 3.21%
15 Year 110 $79,720,000 $724,727 $4,322 3.07%
Other 23 $36,365,000 $1,581,087 $0 3.41%
20 Year 17 $4,615,000 $271,471 $3,228 2.82%
10 Year 16 $9,300,000 $581,250 $2,989 2.68%

For the 2021, American First's most frequently cited loan length of loans were 30 Year, with 237 originations. The 2nd most popular length of loans were 15 Year, with 110 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 235 $77,175,000 $328,404
$2k-3k 39 $11,555,000 $296,282
$5k+ 10 $6,550,000 $655,000
$3k-4k 8 $3,340,000 $417,500

$3,475 of loans were American First's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 235 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 173 $137,445,000 $794,480
2.5-3% 165 $54,975,000 $333,182
<2.5% 48 $9,520,000 $198,333
4-5% 12 $1,710,000 $142,500
5-6% 3 $125,000 $41,667
7-8% 2 $160,000 $80,000

During 2021, American First's average interest rate of loans were 3.21%, while their most frequently originated rate bucket of loans were 3-4%, with 173 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 150 $43,270,000 $288,467 $3,378 2.90%
$100k-200k 98 $14,230,000 $145,204 $2,949 3.07%
$1MM+ 50 $94,780,000 $1,895,600 $8,301 3.34%
$600k-1MM 40 $31,160,000 $779,000 $5,613 3.48%
$400k-600k 39 $18,785,000 $481,667 $4,156 3.09%
$100,000 or less 26 $1,710,000 $65,769 $2,973 4.00%

2021 saw American First place emphasis on $200k-400k loans with 150 originations, totaling $43,270,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 74 $20,580,000 $278,108 $3,354 3.12%
$75k-100k 72 $17,100,000 $237,500 $3,378 3.11%
$50k-75k 70 $16,730,000 $239,000 $3,164 3.03%
$150k-250k 55 $22,695,000 $412,636 $3,600 3.09%
$50k or less 40 $6,870,000 $171,750 $3,149 2.98%
$250k+ 30 $20,430,000 $681,000 $6,668 3.29%

American First lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $75k-100k, with 72 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 85 $28,145,000 $331,118 $4,161 3.00%
30-36% 63 $20,025,000 $317,857 $3,676 2.99%
<20% 41 $8,945,000 $218,171 $3,076 3.03%
38% 16 $6,910,000 $431,875 $3,539 3.13%
42% 14 $2,710,000 $193,571 $2,902 3.24%
40% 13 $4,105,000 $315,769 $3,819 3.25%
44% 12 $2,820,000 $235,000 $3,170 3.30%
39% 11 $3,345,000 $304,091 $3,090 2.92%
48% 10 $2,530,000 $253,000 $3,581 4.01%
45% 10 $4,480,000 $448,000 $3,383 3.06%
41% 9 $1,745,000 $193,889 $3,038 3.42%
49% 9 $2,795,000 $310,556 $3,805 3.24%
43% 9 $5,245,000 $582,778 $3,609 3.10%
46% 9 $2,555,000 $283,889 $3,464 3.29%
37% 8 $1,870,000 $233,750 $3,885 2.70%
36% 8 $2,660,000 $332,500 $3,432 3.03%
47% 8 $1,870,000 $233,750 $3,477 2.95%
50-60% 1 $95,000 $95,000 $0 3.75%

American First lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 63 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 280 $86,010,000 $307,179 $3,666 3.10%
Other Pacific Islander 50 $75,630,000 $1,512,600 $0 3.39%
Other Asian 11 $21,135,000 $1,921,364 $0 3.60%
Not provided 42 $13,590,000 $323,571 $3,531 3.11%
Asian 11 $2,965,000 $269,545 $3,280 2.90%
Vietnamese 1 $2,765,000 $2,765,000 $0 3.21%
Black 4 $870,000 $217,500 $3,561 3.28%
American Indian 2 $400,000 $200,000 $2,681 2.88%
Asian Indian 1 $325,000 $325,000 $10,789 2.00%
Japanese 1 $245,000 $245,000 $2,979 3.25%

Approval Rates

Total approvals of all applications
88.89%

American First has an average approval rate.

Pick Rate

Approvals leading to origination
82.67%

American First has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 403 $203,935,000 $506,042

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
403 $203,935,000 $506,042

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 102 $32,330,000 $316,961 $3,030 2.94%
40-60% 126 $89,600,000 $711,111 $3,413 2.99%
60-80% 101 $70,495,000 $697,970 $4,660 3.25%
80-100% 13 $4,455,000 $342,692 $4,016 2.99%
Under 20% 60 $6,360,000 $106,000 $2,840 3.65%

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%