Amerisouth Mortgage Company Rates, Fees & Info

Charlotte, NC

LEI: 549300I4D30VBTUE3S41

Tax ID: 56-1710835

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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 an average proportion of FHA loans. Their top markets by origination volume include: Greenville, Charlotte, North Wilkesboro, Spartanburg, and Seneca among others. We have data for 21 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.

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    Originations

    173

    Origination Dollar Volume (All Markets)

    $32,115,000
    Show all (11) 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
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 45 $9,845,000 $218,778 $2,508 4.13%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 40 $8,570,000 $214,250 $2,867 4.35%
    North Wilkesboro, NC (FHA|USDA|VA) 42 $5,820,000 $138,571 $3,311 4.23%
    Outside of Metro Areas 14 $1,680,000 $120,000 $2,719 4.75%
    SPARTANBURG, SC (FHA|USDA|VA) 6 $1,200,000 $200,000 $2,591 4.06%
    Seneca, SC (FHA|USDA|VA) 5 $1,065,000 $213,000 $2,517 4.20%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $740,000 $370,000 $2,278 4.38%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $490,000 $245,000 $3,356 4.63%
    GREENVILLE, NC (FHA|USDA|VA) 2 $320,000 $160,000 $3,056 4.13%
    COLUMBIA, SC (FHA|USDA|VA) 1 $315,000 $315,000 $926 3.63%
    Roanoke Rapids, NC (FHA|USDA|VA) 3 $305,000 $101,667 $1,814 5.00%
    Mount Airy, NC (FHA|USDA|VA) 2 $270,000 $135,000 $3,588 4.56%
    Boone, NC (FHA|USDA|VA) 1 $255,000 $255,000 $5,485 3.75%
    SUMTER, SC (FHA|USDA|VA) 1 $215,000 $215,000 $4,555 3.50%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $185,000 $185,000 $4,301 3.75%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $185,000 $185,000 $4,427 4.88%
    Albemarle, NC (FHA|USDA|VA) 1 $165,000 $165,000 $4,130 4.50%
    Georgetown, SC (FHA|USDA|VA) 1 $135,000 $135,000 $3,502 4.50%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,141 4.75%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,249 4.13%
    Moultrie, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,086 3.88%
    Amerisouth Mortgage Company's top markets include Greenville, Charlotte, North Wilkesboro, Spartanburg, and Seneca among others.

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

    Piedmont Federal Savings Bank
    Similarity Rank: 50
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 402
    Belmont Savings Bank, SSB
    Similarity Rank: 897
    BLMC, INC
    Similarity Rank: 1266
    Arrowpointe Federal Credit Union
    Similarity Rank: 1316
    Coastal Carolina National Bank
    Similarity Rank: 1328
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 1533
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1598
    CPM Federal Credit Union
    Similarity Rank: 1650
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1740

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $19,415,000 $204,368 $2,287 4.33%
    FHA 35 $5,545,000 $158,429 $3,908 4.35%
    USDA 24 $3,560,000 $148,333 $2,954 4.12%
    VA 19 $3,595,000 $189,211 $3,877 4.16%

    For 2019, Amerisouth Mortgage Company's most frequently originated type of loan was Conventional, with 95 originations. Their 2nd most popular type was FHA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $27,090,000 $183,041 $2,852 4.32%
    Refi 20 $3,730,000 $186,500 $3,224 4.08%
    Cash Out Refi 5 $1,295,000 $259,000 $2,408 4.10%

    For 2019, Amerisouth Mortgage Company's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 164 $30,500,000 $185,976 $2,902 4.32%
    15 Year 5 $885,000 $177,000 $2,391 3.63%
    10 Year 2 $260,000 $130,000 $2,489 3.69%
    20 Year 2 $470,000 $235,000 $2,846 3.75%

    For 2019, Amerisouth Mortgage Company's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 127 $24,705,000 $194,528
    $1k-2k 31 $4,475,000 $144,355
    $2k-3k 11 $1,935,000 $175,909
    $3k-4k 4 $1,000,000 $250,000

    Amerisouth Mortgage Company's average total fees were $2,902, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 127 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 82 $14,560,000 $177,561
    3-4% 71 $14,205,000 $200,070
    5-6% 20 $3,350,000 $167,500

    During 2019, Amerisouth Mortgage Company's average interest rate for loans was 4.32%, while their most frequently originated rate bucket for loans was 4-5%, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 77 $11,605,000 $150,714 $2,876 4.31%
    $200k-400k 70 $17,450,000 $249,286 $3,017 4.13%
    $100,000 or less 23 $1,775,000 $77,174 $2,530 4.61%
    $400k-600k 3 $1,285,000 $428,333 $2,616 4.75%

    2019 saw Amerisouth Mortgage Company place emphasis on $100k-200k loans with 77 originations, totaling $11,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 61 $8,555,000 $140,246 $2,772 4.34%
    $50k-75k 52 $9,390,000 $180,577 $3,312 4.29%
    $75k-100k 25 $5,775,000 $231,000 $2,781 4.18%
    $100k-150k 23 $4,715,000 $205,000 $2,408 4.25%
    $150k-250k 10 $3,260,000 $326,000 $2,620 4.28%
    $250k+ 2 $420,000 $210,000 $3,096 4.13%

    Amerisouth Mortgage Company lent most frequently to those with incomes in the $50k or less range, with 61 originations. The second most popular income band? $50k-75k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 34 $6,140,000 $180,588 $2,433 4.46%
    20-30% 25 $4,885,000 $195,400 $2,924 4.27%
    40% 15 $2,355,000 $157,000 $2,875 4.37%
    37% 11 $2,095,000 $190,455 $2,492 4.19%
    36% 10 $1,900,000 $190,000 $2,014 4.50%
    <20% 9 $1,525,000 $169,444 $2,288 4.03%
    42% 9 $1,895,000 $210,556 $3,395 4.43%
    43% 9 $1,775,000 $197,222 $2,235 4.31%
    39% 8 $1,330,000 $166,250 $2,857 4.13%
    50-60% 7 $1,125,000 $160,714 $4,272 4.48%
    41% 7 $1,495,000 $213,571 $2,985 4.13%
    48% 6 $1,150,000 $191,667 $3,745 3.96%
    44% 5 $1,115,000 $223,000 $2,989 3.98%
    38% 4 $720,000 $180,000 $2,206 4.38%
    46% 4 $780,000 $195,000 $3,399 3.69%
    49% 3 $565,000 $188,333 $3,967 3.96%
    45% 3 $495,000 $165,000 $6,868 4.71%
    47% 1 $205,000 $205,000 $3,744 4.63%
    >60% 1 $205,000 $205,000 $3,988 4.38%

    Amerisouth Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 34 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 141 $26,355,000 $186,915 $2,837 4.27%
    Black 20 $3,660,000 $183,000 $3,739 4.29%
    Asian 11 $2,025,000 $184,091 $2,001 4.44%
    Native Hawaiian or Islander 1 $75,000 $75,000 $1,780 5.00%

    Approval Rates

    Total approvals of all applications
    94.62%

    Amerisouth Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.80%

    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 173 $32,115,000 $185,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $680,000 $113,333
    Single Family (1-4 Units):Site-Built 167 $31,435,000 $188,234

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $375,000 $125,000 $2,277 3.92%
    40-60% 9 $1,325,000 $147,222 $3,386 4.03%
    60-80% 31 $6,975,000 $225,000 $2,416 4.28%
    80-100% 127 $22,775,000 $179,331 $2,897 4.31%
    Over 100% 3 $665,000 $221,667 $6,148 4.25%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    American Mortgage Service Company FHA mortgage Closing on a mortgage 1 33.3%
    American Mortgage Service Company Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    American Mortgage Service Company FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%