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 and Refi 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: Charlotte, Greenville, North Wilkesboro, Spartanburg, and Seneca among others. We have data for 17 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.

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    Originations

    195

    Origination Dollar Volume (All Markets)

    $41,015,000
    Show all (7) 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) 63 $14,645,000 $232,460 $3,425 3.11%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 48 $10,220,000 $212,917 $1,401 3.14%
    North Wilkesboro, NC (FHA|USDA|VA) 37 $5,895,000 $159,324 $3,339 3.24%
    SPARTANBURG, SC (FHA|USDA|VA) 13 $2,495,000 $191,923 $1,168 3.25%
    Outside of Metro Areas 8 $1,740,000 $217,500 $3,462 3.50%
    Seneca, SC (FHA|USDA|VA) 4 $890,000 $222,500 $2,935 2.97%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $845,000 $281,667 $4,251 3.21%
    Boone, NC (FHA|USDA|VA) 3 $635,000 $211,667 $4,053 3.42%
    WINSTON-SALEM, NC (FHA|USDA|VA) 4 $520,000 $130,000 $1,759 3.59%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $515,000 $515,000 $1,917 2.50%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $1,520 2.63%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $485,000 $485,000 $3,135 3.25%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $455,000 $151,667 $4,390 3.38%
    Mount Airy, NC (FHA|USDA|VA) 3 $385,000 $128,333 $3,336 3.29%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $355,000 $355,000 $3,033 2.88%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $275,000 $275,000 $5,528 3.63%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $145,000 $145,000 $3,398 5.25%
    Amerisouth Mortgage Company's top markets include Charlotte, Greenville, 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: 150
    Greenville Heritage Federal Credit Union
    Similarity Rank: 438
    Coastal Carolina National Bank
    Similarity Rank: 520
    BLMC, INC
    Similarity Rank: 720
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 931
    Belmont Savings Bank, SSB
    Similarity Rank: 1040
    Kwik Mortgage Corporation
    Similarity Rank: 1157
    Shea Mortgage Inc.
    Similarity Rank: 1260
    Community First Bank, Inc.
    Similarity Rank: 1584
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 1662

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $31,565,000 $217,690 $2,526 3.18%
    USDA 22 $3,180,000 $144,545 $3,402 3.18%
    FHA 14 $2,430,000 $173,571 $4,641 3.35%
    VA 14 $3,840,000 $274,286 $2,052 3.18%

    For 2020, Amerisouth Mortgage Company's most frequently originated type of loan was Conventional, with 145 originations. Their 2nd most popular type was USDA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 124 $26,020,000 $209,839 $2,398 3.29%
    Refi 62 $12,140,000 $195,806 $3,353 3.00%
    NA 4 $1,370,000 $342,500 $2,189 2.72%
    Cash Out Refi 4 $1,110,000 $277,500 $3,509 3.56%
    Home Improvement 1 $375,000 $375,000 $6,906 3.38%

    For 2020, Amerisouth Mortgage Company's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 167 $36,025,000 $215,719 $2,835 3.24%
    15 Year 22 $3,970,000 $180,455 $2,043 2.88%
    20 Year 4 $720,000 $180,000 $2,316 3.19%
    10 Year 1 $135,000 $135,000 $2,855 2.38%
    Other 1 $165,000 $165,000 $4,376 2.88%

    For 2020, Amerisouth Mortgage Company's most frequently cited loan duration was 30 Year, with 167 originations. The 2nd most popular length was 15 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 89 $17,475,000 $196,348
    $1k-2k 66 $15,200,000 $230,303
    $2k-3k 27 $4,575,000 $169,444
    $3k-4k 8 $1,880,000 $235,000
    $4k-5k 3 $1,075,000 $358,333

    Amerisouth Mortgage Company's average total fees were $2,835, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 89 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 89 $19,675,000 $221,067
    3-4% 87 $17,505,000 $201,207
    <2.5% 9 $2,345,000 $260,556
    4-5% 7 $965,000 $137,857
    5-6% 3 $525,000 $175,000

    During 2020, Amerisouth Mortgage Company's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 2.5-3%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 86 $12,910,000 $150,116 $2,682 3.19%
    $200k-400k 78 $20,910,000 $268,077 $2,921 3.21%
    $100,000 or less 19 $1,525,000 $80,263 $1,956 3.35%
    $400k-600k 12 $5,670,000 $472,500 $3,270 2.84%

    2020 saw Amerisouth Mortgage Company place emphasis on $100k-200k loans with 86 originations, totaling $12,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 61 $9,165,000 $150,246 $2,733 3.19%
    $50k-75k 51 $9,815,000 $192,451 $2,279 3.29%
    $75k-100k 30 $6,060,000 $202,000 $2,857 3.27%
    $100k-150k 27 $6,505,000 $240,926 $2,487 3.17%
    $150k-250k 18 $6,060,000 $336,667 $4,196 2.97%
    $250k+ 8 $3,410,000 $426,250 $2,943 2.86%

    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 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $11,980,000 $206,552 $2,733 3.16%
    30-36% 40 $8,720,000 $218,000 $2,780 3.17%
    <20% 21 $3,665,000 $174,524 $2,416 3.00%
    36% 7 $1,475,000 $210,714 $969 3.75%
    42% 7 $1,425,000 $203,571 $2,860 3.18%
    38% 7 $1,345,000 $192,143 $4,484 3.55%
    39% 7 $1,735,000 $247,857 $2,396 3.25%
    46% 7 $1,865,000 $266,429 $1,903 3.39%
    41% 6 $1,120,000 $186,667 $4,495 3.29%
    37% 6 $1,260,000 $210,000 $3,062 3.27%
    40% 5 $905,000 $181,000 $3,041 3.20%
    47% 5 $1,455,000 $291,000 $3,386 3.08%
    43% 4 $580,000 $145,000 $3,709 3.19%
    44% 4 $1,020,000 $255,000 $1,988 2.84%
    45% 3 $815,000 $271,667 $3,606 3.83%
    49% 3 $655,000 $218,333 $963 3.38%
    48% 2 $310,000 $155,000 $1,407 3.06%

    Amerisouth Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $33,430,000 $214,295 $2,734 3.22%
    Black 18 $3,910,000 $217,222 $2,685 3.24%
    Asian 14 $2,060,000 $147,143 $2,706 2.89%
    Not provided 7 $1,615,000 $230,714 $3,173 3.16%

    Approval Rates

    Total approvals of all applications
    95.89%

    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
    21.03%

    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 195 $41,015,000 $210,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $250,000 $125,000
    Single Family (1-4 Units):Site-Built 193 $40,765,000 $211,218

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $2,075,000 $188,636 $2,559 3.16%
    40-60% 27 $4,725,000 $175,000 $2,532 3.07%
    60-80% 52 $11,630,000 $223,654 $3,155 3.12%
    80-100% 103 $22,305,000 $216,553 $2,606 3.27%
    Over 100% 1 $225,000 $225,000 $3,451 3.63%
    Under 20% 1 $55,000 $55,000 $2,488 2.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    American Mortgage Service Company Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    American Mortgage Service Company Other type of mortgage Closing on a mortgage 1 50.0%