American First Mortgage Rates, Fees & Info
Brea, CALEI: 549300GIVX5W7UETD809
Tax ID: 33-0358683
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.69% | 11/17/24 |
| 30 Year Conventional Refi | 5.49% | 11/17/24 |
| 30 Year Cash-out Refi | 5.39% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 3.48% | 11/17/24 |
| 15 Year Cash-out Refi | 3.48% | 11/17/24 |
| 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
120Origination Dollar Volume (All Markets)
$45,150,000Relative 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% |
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.
Similarity Rank: 72
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Similarity Rank: 660
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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
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
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
2023 saw American First place emphasis on $100,000 or less loans with 55 originations, totaling $2,965,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications79.13%
American First has a below average approval rate.
Pick Rate
Approvals leading to origination42.50%
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 |