American Investors Bank And Mortgage Rates, Fees & Info

Eden Prairie, MN

LEI: 549300HR275MEUDIFB90

Tax ID: 20-0577100

5 stars - Updated: 3/24/24 - out of 5 stars, based on 15 reviews

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

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Mortgage Data

Review & Overview

American Investors Bank And Mortgage is a smaller bank specializing in Cash Out Refi loans. American Investors Bank And Mortgage has an average proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, Cape Coral, Fargo, and Naples among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Investors Bank And Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. American Investors Bank And Mortgage 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) 6.27% 3/24/24
30 Year Conventional Purchase 7.43% 3/24/24
30 Year Conventional Refi 6.27% 3/24/24
15 Year Conventional Purchase 6.38% 3/24/24
15 Year Conventional Refi 7.79% 3/24/24
15 Year Cash-out Refi 7.79% 3/24/24
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 Investors Bank And Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from American Investors Bank And Mortgage. 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

225

Origination Dollar Volume (All Markets)

$26,405,000

Relative Rate

American Investors Bank And Mortgage's average 30 year fixed mortgage rate was 4.38%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.39%.

Relative Fees (Closing Costs)

American Investors Bank And Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $2,146.

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 $4,750.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 197 $23,075,000 $117,132 $1,109 4.66%
Outside of Metro Areas 6 $530,000 $88,333 $76 4.42%
Brainerd, MN (FHA|USDA|VA) 3 $465,000 $155,000 $0 3.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $330,000 $165,000 $0 5.00%
FARGO, ND-MN (FHA|USDA|VA) 1 $305,000 $305,000 $0 5.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.75%
ROCHESTER, MN (FHA|USDA|VA) 3 $275,000 $91,667 $863 5.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.75%
Austin, MN (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.74%
Faribault-Northfield, MN (FHA|USDA|VA) 2 $110,000 $55,000 $0 4.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
Alexandria, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.25%
Key West, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.50%
DULUTH, MN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
Fergus Falls, MN (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.50%
American Investors Bank And Mortgage's top markets include Minneapolis, Brainerd, Cape Coral, Fargo, and Naples among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 209 $24,885,000 $119,067 n/a 4.61%
    Conventional 16 $1,520,000 $95,000 $1,029 5.12%

    For 2022, American Investors Bank And Mortgage's most frequently originated type of loan was HELOC, with 209 originations. Their 2nd most popular type was Conventional, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 161 $18,105,000 $112,453 $707 4.56%
    Home Purchase 29 $3,955,000 $136,379 $2,128 4.69%
    Other 20 $2,730,000 $136,500 $0 5.09%
    Refi 15 $1,615,000 $107,667 $1,149 4.93%

    For 2022, American Investors Bank And Mortgage's most frequently cited loan purpose was Cash Out Refi, with 161 originations. The 2nd most popular reason was Home Purchase, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 210 $25,140,000 $119,714 $4,270 4.61%
    15 Year 8 $450,000 $56,250 $488 5.38%
    20 Year 5 $415,000 $83,000 $799 5.28%
    30 Year 2 $400,000 $200,000 $2,146 4.38%

    For 2022, American Investors Bank And Mortgage's most frequently cited loan duration was Other, with 210 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 10 $700,000 $70,000
    $1k-2k 2 $400,000 $200,000
    $2k-3k 1 $255,000 $255,000

    American Investors Bank And Mortgage's average total fees were $2,146, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 119 $12,755,000 $107,185
    3-4% 52 $7,050,000 $135,577
    5-6% 48 $6,120,000 $127,500
    6-7% 3 $275,000 $91,667
    Over 8% 2 $180,000 $90,000
    7-8% 1 $25,000 $25,000

    During 2022, American Investors Bank And Mortgage's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 110 $6,470,000 $58,818 $645 4.70%
    $100k-200k 81 $11,205,000 $138,333 $1,019 4.65%
    $200k-400k 33 $8,325,000 $252,273 $3,154 4.46%
    $400k-600k 1 $405,000 $405,000 $0 4.75%

    2022 saw American Investors Bank And Mortgage place emphasis on $100,000 or less loans with 110 originations, totaling $6,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 81 $8,265,000 $102,037 $850 4.73%
    $100k-150k 51 $5,675,000 $111,275 $1,085 4.59%
    $250k+ 46 $8,390,000 $182,391 $60 4.72%
    $50k-75k 23 $1,755,000 $76,304 $646 4.36%
    $75k-100k 18 $2,020,000 $112,222 $2,566 4.76%
    $50k or less 6 $300,000 $50,000 $0 4.29%

    American Investors Bank And Mortgage lent most frequently to those with incomes in the $150k-250k range, with 81 originations. The second most popular income band? $100k-150k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $5,415,000 $115,213 $694 4.61%
    30-36% 42 $5,700,000 $135,714 $1,603 4.71%
    <20% 34 $3,870,000 $113,824 $1,120 4.65%
    44% 20 $1,980,000 $99,000 $498 4.64%
    43% 14 $1,860,000 $132,857 $863 4.82%
    39% 13 $1,545,000 $118,846 $0 4.69%
    38% 12 $1,360,000 $113,333 $727 4.32%
    36% 10 $1,000,000 $100,000 $0 4.50%
    42% 7 $1,135,000 $162,143 $0 4.96%
    40% 6 $710,000 $118,333 $0 4.88%
    37% 6 $690,000 $115,000 $0 4.41%
    41% 4 $550,000 $137,500 $2,037 4.81%
    47% 3 $165,000 $55,000 $0 4.92%
    45% 2 $110,000 $55,000 $0 4.38%
    46% 2 $190,000 $95,000 $0 4.50%
    50-60% 2 $90,000 $45,000 $0 4.50%
    49% 1 $35,000 $35,000 $0 3.75%

    American Investors Bank And Mortgage lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 137 $16,375,000 $119,526 $1,088 4.59%
    Not provided 73 $8,425,000 $115,411 $0 4.66%
    Asian 8 $890,000 $111,250 $613 5.22%
    Black 3 $435,000 $145,000 $0 4.50%
    American Indian 1 $105,000 $105,000 $0 4.99%
    Asian Indian 1 $85,000 $85,000 $0 6.49%
    Not applicable 1 $55,000 $55,000 $0 5.25%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    94.31%

    American Investors Bank And Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.89%

    American Investors Bank And Mortgage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 225 $26,405,000 $117,356

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    225 $26,405,000 $117,356

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $13,495,000 $151,629 $1,056 4.64%
    40-60% 13 $2,465,000 $189,615 $0 4.75%
    60-80% 8 $1,910,000 $238,750 $3,154 4.31%
    Under 20% 115 $8,535,000 $74,217 $593 4.67%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERICAN PACIFIC MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%