American Momentum Bank Mortgage Rates, Fees & Info

College Station, TX

LEI: 549300IJB00VM6H8PP97

Tax ID: 16-1764661

5 stars - Updated: 3/27/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

American Momentum Bank is a smaller bank specializing in Home Purchase loans. American Momentum Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: College Station, Tampa, Orlando, Cape Coral, and Miami among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Momentum Bank 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 Momentum Bank is typically an average 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.

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
30 Year Conventional Purchase 6.50% 3/27/24
30 Year Conventional Refi 6.55% 3/27/24
30 Year Cash-out Refi 6.42% 3/27/24
30 Year FHA Purchase 7.69% 3/27/24
30 Year VA Purchase 5.99% 3/27/24
15 Year Conventional Purchase 6.09% 3/27/24
15 Year Conventional Refi 5.73% 3/27/24
15 Year Cash-out Refi 5.73% 3/27/24
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 Momentum Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from American Momentum Bank. 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

289

Origination Dollar Volume (All Markets)

$179,575,000

Awards

American Momentum Bank 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

American Momentum Bank's average 30 year fixed mortgage rate was 6.62%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.14%.

Relative Fees (Closing Costs)

American Momentum Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,755.

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
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 114 $54,860,000 $481,228 $6,543 6.52%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 56 $35,120,000 $627,143 $9,346 6.64%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 20 $31,260,000 $1,563,000 $11,452 6.34%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 16 $11,990,000 $749,375 $10,081 6.59%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $8,955,000 $995,000 $9,531 6.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $7,365,000 $669,545 $7,762 6.77%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $4,295,000 $613,571 $7,112 6.32%
Outside of Metro Areas 13 $3,735,000 $287,308 $7,155 6.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $3,725,000 $1,241,667 $12,734 6.42%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $3,660,000 $915,000 $8,259 6.81%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $3,310,000 $1,655,000 $12,710 6.50%
MIDLAND, TX (FHA|USDA|VA) 9 $2,945,000 $327,222 $8,613 6.89%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $2,500,000 $625,000 $6,959 6.63%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,145,000 $381,667 $7,263 7.17%
ODESSA, TX (FHA|USDA|VA) 4 $650,000 $162,500 $2,442 8.03%
AMARILLO, TX (FHA|USDA|VA) 1 $635,000 $635,000 $3,915 7.50%
Fredericksburg, TX (FHA|USDA|VA) 1 $515,000 $515,000 $0 7.50%
Huntsville, TX (FHA|USDA|VA) 1 $425,000 $425,000 $5,084 6.50%
WACO, TX (FHA|USDA|VA) 2 $410,000 $205,000 $6,111 6.25%
Andrews, TX (FHA|USDA|VA) 3 $405,000 $135,000 $2,914 6.94%
LUBBOCK, TX (FHA|USDA|VA) 1 $395,000 $395,000 $4,635 5.63%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $390,000 $195,000 $3,700 6.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 7.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 6.63%
Big Spring, TX (FHA|USDA|VA) 1 $255,000 $255,000 $10,769 7.63%
American Momentum Bank's top markets include College Station, Tampa, Orlando, Cape Coral, and Miami among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $178,100,000 $627,113 $8,014 6.61%
    VA 3 $1,095,000 $365,000 $7,345 5.88%
    FHA 2 $380,000 $190,000 $7,165 6.50%

    For 2023, American Momentum Bank's most frequently originated type of loan was Conventional, with 284 originations. Their 2nd most popular type was VA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 268 $169,210,000 $631,381 $8,309 6.53%
    Other 9 $3,255,000 $361,667 $3,501 7.76%
    Home Improvement 5 $2,095,000 $419,000 $3,743 7.76%
    Refi 4 $3,980,000 $995,000 $5,167 6.79%
    Cash Out Refi 3 $1,035,000 $345,000 $7,333 7.71%

    For 2023, American Momentum Bank's most frequently cited loan purpose was Home Purchase, with 268 originations. The 2nd most popular reason was Other, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 190 $86,490,000 $455,211 $6,755 6.62%
    30+ year 75 $84,795,000 $1,130,600 $11,550 6.24%
    15 Year 10 $3,430,000 $343,000 $13,259 7.11%
    10 Year 9 $1,295,000 $143,889 $1,082 8.26%
    3 Year 2 $530,000 $265,000 $0 8.01%
    5 Year 2 $2,810,000 $1,405,000 $0 7.41%
    20 Year 1 $225,000 $225,000 $3,520 6.00%

    For 2023, American Momentum Bank's most frequently cited loan duration was 30 Year, with 190 originations. The 2nd most popular length was 30+ year, with 75 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 179 $134,735,000 $752,709
    $<1k 23 $5,995,000 $260,652
    $5k+ 23 $11,385,000 $495,000
    $2k-3k 14 $5,490,000 $392,143
    $3k-4k 8 $3,220,000 $402,500
    $4k-5k 6 $3,900,000 $650,000

    American Momentum Bank's average total fees were $6,755, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 142 $78,030,000 $549,507
    5-6% 73 $71,975,000 $985,959
    7-8% 58 $25,040,000 $431,724
    Over 8% 14 $3,680,000 $262,857
    4-5% 2 $850,000 $425,000

    During 2023, American Momentum Bank's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was 6-7%, with 142 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 102 $29,750,000 $291,667 $5,779 6.68%
    $600k-1MM 61 $47,855,000 $784,508 $9,861 6.44%
    $400k-600k 54 $26,720,000 $494,815 $8,704 6.69%
    $1MM+ 33 $70,125,000 $2,125,000 $14,048 6.14%
    $100k-200k 28 $4,390,000 $156,786 $3,568 6.79%
    $100,000 or less 11 $735,000 $66,818 $1,974 7.28%

    2023 saw American Momentum Bank place emphasis on $200k-400k loans with 102 originations, totaling $29,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 126 $119,400,000 $947,619 $9,872 6.57%
    $150k-250k 68 $31,350,000 $461,029 $7,173 6.51%
    $100k-150k 48 $15,370,000 $320,208 $6,628 6.75%
    $50k-75k 22 $4,640,000 $210,909 $5,171 6.46%
    $75k-100k 15 $3,775,000 $251,667 $5,552 6.53%
    $50k or less 2 $190,000 $95,000 $3,203 6.13%

    American Momentum Bank lent most frequently to those with incomes in the $250k+ range, with 126 originations. The second most popular income band? $150k-250k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $27,460,000 $508,519 $7,089 6.50%
    30-36% 49 $26,095,000 $532,551 $7,561 6.51%
    42% 31 $22,015,000 $710,161 $9,664 6.40%
    <20% 27 $10,945,000 $405,370 $6,227 6.61%
    38% 16 $9,170,000 $573,125 $9,103 6.30%
    39% 15 $10,095,000 $673,000 $8,739 6.66%
    37% 13 $8,325,000 $640,385 $6,190 6.82%
    41% 12 $15,940,000 $1,328,333 $9,963 6.56%
    40% 11 $6,795,000 $617,727 $7,510 6.51%
    36% 11 $5,065,000 $460,455 $7,260 6.83%
    47% 10 $18,910,000 $1,891,000 $11,292 6.38%
    44% 8 $3,390,000 $423,750 $7,757 6.98%
    46% 6 $2,150,000 $358,333 $7,092 6.54%
    50-60% 5 $5,145,000 $1,029,000 $12,117 6.00%
    43% 4 $1,460,000 $365,000 $5,749 7.47%
    48% 4 $1,120,000 $280,000 $5,678 6.88%
    45% 2 $560,000 $280,000 $6,318 6.69%
    49% 2 $600,000 $300,000 $0 7.13%

    American Momentum Bank lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 174 $93,490,000 $537,299 $7,434 6.63%
    Not provided 82 $58,770,000 $716,707 $8,716 6.44%
    Asian 11 $15,375,000 $1,397,727 $10,531 6.48%
    Not applicable 7 $3,995,000 $570,714 $0 7.83%
    Asian Indian 3 $3,705,000 $1,235,000 $11,142 6.17%
    Black 9 $3,395,000 $377,222 $8,054 6.60%
    Other Asian 2 $550,000 $275,000 $5,656 7.00%
    Native Hawaiian or Islander 1 $295,000 $295,000 $5,201 8.00%

    Approval Rates

    Total approvals of all applications
    81.16%

    American Momentum Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.66%

    American Momentum Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 289 $179,575,000 $621,367

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    289 $179,575,000 $621,367

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $7,260,000 $403,333 $5,098 6.53%
    40-60% 47 $34,735,000 $739,043 $9,113 6.38%
    60-80% 104 $65,810,000 $632,788 $8,603 6.64%
    80-100% 108 $69,380,000 $642,407 $8,033 6.56%
    Over 100% 2 $740,000 $370,000 $11,215 7.36%
    Under 20% 10 $1,650,000 $165,000 $2,166 7.67%