Amerisouth Mortgage Company Rates, Fees & Info

Charlotte, NC

LEI: 549300I4D30VBTUE3S41

Tax ID: 56-1710835

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

Jump to:

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

    Amerisouth Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Amerisouth Mortgage Company has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Greenville, North Wilkesboro, Albemarle, and Mount Airy among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Amerisouth Mortgage Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Amerisouth Mortgage Company 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.


    Originations

    237

    Origination Dollar Volume (All Markets)

    $41,155,000
    Show all (12) 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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 93 $19,075,000 $205,108 $3,191 4.62%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 50 $9,410,000 $188,200 $2,405 4.76%
    North Wilkesboro, NC (FHA|USDA|VA) 66 $8,840,000 $133,939 $3,005 4.98%
    Outside of Metro Areas 16 $1,720,000 $107,500 $2,795 4.98%
    Albemarle, NC (FHA|USDA|VA) 1 $485,000 $485,000 $3,571 4.75%
    Mount Airy, NC (FHA|USDA|VA) 2 $350,000 $175,000 $3,024 5.13%
    WINSTON-SALEM, NC (FHA|USDA|VA) 3 $335,000 $111,667 $2,504 5.00%
    Boone, NC (FHA|USDA|VA) 1 $295,000 $295,000 $1,684 4.50%
    Seneca, SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,084 5.38%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $155,000 $155,000 $120 4.75%
    Forest City, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,236 4.75%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $95,000 $95,000 $3,647 4.75%
    Shelby, NC (FHA|USDA|VA) 1 $75,000 $75,000 $1,907 5.25%
    Amerisouth Mortgage Company's top markets include Charlotte, Greenville, North Wilkesboro, Albemarle, and Mount Airy among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 285
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    NewDominion Bank
    Similarity Rank: 602
    BLMC, INC
    Similarity Rank: 755
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 780
    CPM Federal Credit Union
    Similarity Rank: 882
    Entegra Bank
    Similarity Rank: 1036
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1444
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1535

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $21,390,000 $184,397 $2,129 4.81%
    FHA 77 $13,055,000 $169,545 $4,174 4.82%
    USDA 29 $3,495,000 $120,517 $2,275 4.81%
    VA 14 $3,100,000 $221,429 $3,623 4.44%
    USDA 1 $115,000 $115,000 $0 4.63%

    For 2018, Amerisouth Mortgage Company's most frequently originated type of loan was Conventional, with 116 originations. Their 2nd most popular type was FHA, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 211 $36,685,000 $173,863 $2,839 4.79%
    Refi 19 $3,075,000 $161,842 $3,499 4.75%
    Cash Out Refi 7 $1,395,000 $199,286 $3,502 4.84%

    For 2018, Amerisouth Mortgage Company's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 226 $39,650,000 $175,442 $2,971 4.81%
    15 Year 7 $795,000 $113,571 $1,736 4.32%
    20 Year 2 $460,000 $230,000 $1,266 4.38%
    10 Year 1 $115,000 $115,000 $2,643 4.38%
    Other 1 $135,000 $135,000 $1,860 4.63%

    For 2018, Amerisouth Mortgage Company's most frequently cited loan duration was 30 Year, with 226 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 183 $32,285,000 $176,421
    $1k-2k 32 $4,450,000 $139,063
    $2k-3k 11 $1,885,000 $171,364
    $3k-4k 6 $1,320,000 $220,000
    $5k+ 1 $445,000 $445,000

    Amerisouth Mortgage Company's average total fees were $2,971, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 183 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 170 $30,980,000 $182,235
    5-6% 54 $7,790,000 $144,259
    3-4% 12 $2,330,000 $194,167
    6-7% 1 $55,000 $55,000

    During 2018, Amerisouth Mortgage Company's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 170 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 118 $17,560,000 $148,814 $2,642 4.78%
    $200k-400k 74 $19,240,000 $260,000 $3,783 4.66%
    $100,000 or less 43 $3,425,000 $79,651 $2,091 5.05%
    $400k-600k 2 $930,000 $465,000 $5,582 4.56%

    2018 saw Amerisouth Mortgage Company place emphasis on $100k-200k loans with 118 originations, totaling $17,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 94 $12,430,000 $132,234 $2,739 4.78%
    $50k-75k 67 $11,565,000 $172,612 $2,686 4.87%
    $75k-100k 32 $6,630,000 $207,188 $3,328 4.73%
    $100k-150k 24 $5,390,000 $224,583 $3,323 4.74%
    $150k-250k 17 $4,565,000 $268,529 $3,680 4.74%
    $250k+ 3 $575,000 $191,667 $1,836 4.71%

    Amerisouth Mortgage Company lent most frequently to those with incomes in the $50k or less range, with 94 originations. The second most popular income band? $50k-75k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 51 $8,845,000 $173,431 $2,788 4.80%
    20-30% 37 $5,135,000 $138,784 $2,549 4.83%
    38% 20 $3,910,000 $195,500 $3,435 4.81%
    39% 15 $3,055,000 $203,667 $2,658 4.81%
    43% 14 $2,350,000 $167,857 $2,431 4.79%
    50-60% 12 $2,220,000 $185,000 $4,339 4.55%
    <20% 10 $1,640,000 $164,000 $2,003 4.71%
    42% 9 $1,595,000 $177,222 $4,119 4.94%
    40% 8 $1,250,000 $156,250 $1,429 4.67%
    37% 7 $915,000 $130,714 $1,933 5.04%
    >60% 7 $1,335,000 $190,714 $3,264 4.70%
    44% 7 $1,455,000 $207,857 $4,309 4.75%
    45% 7 $1,495,000 $213,571 $2,787 5.14%
    46% 6 $1,250,000 $208,333 $3,006 4.33%
    41% 6 $870,000 $145,000 $3,373 4.44%
    47% 6 $1,130,000 $188,333 $3,813 4.96%
    49% 6 $1,170,000 $195,000 $4,017 4.83%
    36% 5 $985,000 $197,000 $2,590 4.90%
    48% 4 $550,000 $137,500 $1,433 4.91%

    Amerisouth Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 51 originations. The next most common DTI ratio? 20-30%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 192 $33,170,000 $172,760 $2,840 4.80%
    Black 26 $4,890,000 $188,077 $3,627 4.83%
    Asian 18 $2,950,000 $163,889 $2,631 4.65%
    American Indian 1 $145,000 $145,000 $2,829 4.75%

    Approval Rates

    Total approvals of all applications
    95.73%

    Amerisouth Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    67.51%

    Amerisouth Mortgage Company 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 237 $41,155,000 $173,650

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 15 $1,435,000 $95,667
    Single Family (1-4 Units):Site-Built 222 $39,720,000 $178,919

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $470,000 $78,333 $859 4.58%
    40-60% 15 $1,725,000 $115,000 $2,220 4.71%
    60-80% 47 $8,865,000 $188,617 $2,833 4.88%
    80-100% 165 $28,975,000 $175,606 $2,952 4.79%
    Over 100% 4 $1,120,000 $280,000 $7,934 4.28%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 7 46.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 3 20.0%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 6.7%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 1 6.7%