American Momentum Bank Mortgage Rates, Fees & Info

College Station, TX

LEI: 549300IJB00VM6H8PP97

Tax ID: 16-1764661

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

American Momentum Bank is a smaller bank specializing in Home Purchase and Cash Out Refi 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 include Orlando, Tampa, Houston, College Station, and Dallas among others. American Momentum Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. American Momentum Bank is typically an average fee lendor.


Originations

632

Origination Dollar Volume (All Markets)

$412,460,000

Employee count

346 Show all (6) awards

Relative Rate

American Momentum Bank's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

American Momentum Bank's average total fees for a 30 year fixed rate mortgage are $4,926.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 66 $96,950,000 $1,468,939 $8,258 3.08%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 203 $74,365,000 $366,330 $5,427 3.05%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 15 $60,745,000 $4,049,667 $5,102 2.95%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 181 $60,275,000 $333,011 $4,758 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $27,790,000 $2,779,000 $4,610 3.16%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 46 $23,690,000 $515,000 $6,393 2.99%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 15 $21,715,000 $1,447,667 $8,686 2.99%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $19,330,000 $9,665,000 $4,612 2.94%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $5,725,000 $440,385 $5,598 2.86%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 16 $3,930,000 $245,625 $4,803 3.04%
Outside of Metro Areas 17 $3,195,000 $187,941 $3,846 3.73%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,790,000 $895,000 $9,277 3.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 6 $1,750,000 $291,667 $5,650 3.40%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,185,000 $237,000 $4,185 3.05%
AMARILLO, TX (FHA|USDA|VA) 5 $1,165,000 $233,000 $3,975 2.78%
LUBBOCK, TX (FHA|USDA|VA) 2 $1,140,000 $570,000 $9,103 4.06%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $975,000 $325,000 $4,889 2.92%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $935,000 $311,667 $4,700 3.08%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $755,000 $755,000 $10,192 2.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $670,000 $335,000 $3,030 3.75%
MIDLAND, TX (FHA|USDA|VA) 3 $655,000 $218,333 $3,331 3.92%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $530,000 $265,000 $6,210 3.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,775 2.13%
WACO, TX (FHA|USDA|VA) 1 $475,000 $475,000 $5,842 2.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $375,000 $375,000 $4,030 2.88%
Andrews, TX (FHA|USDA|VA) 3 $355,000 $118,333 $4,272 4.79%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,218 2.63%
ODESSA, TX (FHA|USDA|VA) 2 $250,000 $125,000 $5,678 3.00%
Pampa, TX (FHA|USDA|VA) 1 $245,000 $245,000 $4,078 3.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $6,787 3.00%
Stephenville, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,002 2.50%
TYLER, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,520 2.00%
Huntsville, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.88%

American Momentum Bank's top markets include Orlando, Tampa, Houston, College Station, and Dallas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 624 $410,170,000 $657,324 $5,628 3.05%
FHA 4 $930,000 $232,500 $8,529 3.72%
VA 4 $1,360,000 $340,000 $5,956 2.63%

For the 2021 period, American Momentum Bank's most frequently originated loan type of loans were Conventional, with 624 originations. Their 2nd most popular type is FHA, with 4 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 431 $254,085,000 $589,524 $6,555 3.08%
Refi 127 $46,485,000 $366,024 $3,674 2.86%
Cash Out Refi 53 $107,395,000 $2,026,321 $4,791 3.04%
Other 17 $4,195,000 $246,765 $3,103 3.59%
Home Improvement 4 $300,000 $75,000 $359 4.29%

For the 2021, American Momentum Bank's most frequently cited loan purpose of loans were Home Purchase, with 431 originations. The 2nd most popular reason of loans were Refi, with 127 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 462 $160,050,000 $346,429 $4,926 3.08%
30+ year 89 $90,735,000 $1,019,494 $10,340 2.97%
15 Year 46 $11,370,000 $247,174 $3,559 2.38%
10 Year 14 $2,950,000 $210,714 $1,209 4.17%
20 Year 8 $2,470,000 $308,750 $4,682 2.83%
5 Year 7 $53,225,000 $7,603,571 $329 3.71%
3 Year 3 $44,145,000 $14,715,000 $0 4.58%
Other 3 $47,515,000 $15,838,333 $0 4.13%

For the 2021, American Momentum Bank's most frequently cited loan length of loans were 30 Year, with 462 originations. The 2nd most popular length of loans were 30+ year, with 89 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 427 $212,485,000 $497,623
$<1k 60 $11,470,000 $191,167
$2k-3k 14 $7,550,000 $539,286
$3k-4k 11 $5,285,000 $480,455
$5k+ 10 $9,440,000 $944,000

$4,926 of loans were American Momentum Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 427 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 278 $152,980,000 $550,288
3-4% 213 $218,715,000 $1,026,831
<2.5% 107 $36,025,000 $336,682
4-5% 28 $4,140,000 $147,857
5-6% 5 $475,000 $95,000
6-7% 1 $125,000 $125,000

During 2021, American Momentum Bank's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 278 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 230 $66,190,000 $287,783 $4,431 2.99%
$100k-200k 130 $19,470,000 $149,769 $2,985 3.16%
$400k-600k 122 $60,390,000 $495,000 $6,130 2.91%
$600k-1MM 69 $53,405,000 $773,986 $9,428 2.98%
$1MM+ 41 $210,195,000 $5,126,707 $13,119 2.96%
$100,000 or less 40 $2,810,000 $70,250 $1,234 3.76%

2021 saw American Momentum Bank place emphasis on $200k-400k loans with 230 originations, totaling $66,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 208 $147,920,000 $711,154 $7,629 3.04%
$150k-250k 157 $55,645,000 $354,427 $5,113 3.13%
$100k-150k 108 $31,920,000 $295,556 $4,834 2.98%
$50k-75k 65 $12,925,000 $198,846 $3,879 2.96%
$75k-100k 53 $13,035,000 $245,943 $4,412 3.00%
$50k or less 23 $3,755,000 $163,261 $3,223 2.96%

American Momentum Bank lent most frequently to those with incomes in the $250k+ range, with 208 originations. The second most popular income band? $150k-250k, with 157 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 156 $64,740,000 $415,000 $5,650 3.00%
30-36% 117 $42,985,000 $367,393 $5,242 3.15%
<20% 81 $41,635,000 $514,012 $5,684 2.79%
42% 33 $18,205,000 $551,667 $6,757 3.08%
39% 24 $10,900,000 $454,167 $5,678 3.11%
37% 22 $11,000,000 $500,000 $5,541 3.14%
38% 21 $9,675,000 $460,714 $6,104 3.05%
45% 21 $6,195,000 $295,000 $4,295 3.10%
41% 19 $8,575,000 $451,316 $6,772 2.82%
36% 19 $16,895,000 $889,211 $8,042 2.97%
44% 18 $4,770,000 $265,000 $3,566 3.40%
43% 16 $4,920,000 $307,500 $4,708 2.99%
40% 16 $7,520,000 $470,000 $6,136 3.14%
48% 16 $5,500,000 $343,750 $5,149 2.83%
49% 12 $3,410,000 $284,167 $5,339 3.05%
47% 11 $3,535,000 $321,364 $5,488 2.77%
46% 7 $3,765,000 $537,857 $6,798 2.98%
50-60% 3 $695,000 $231,667 $4,367 2.88%
>60% 2 $660,000 $330,000 $7,679 2.94%

American Momentum Bank lent most frequently to those with DTI ratios of 20-30%, with 156 originations. The next most common DTI ratio? 30-36%, with 117 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 417 $183,795,000 $440,755 $5,633 3.03%
Not applicable 13 $146,185,000 $11,245,000 $0 3.99%
Not provided 147 $61,165,000 $416,088 $5,584 3.03%
Asian 28 $11,910,000 $425,357 $6,886 2.97%
Black 22 $7,790,000 $354,091 $5,079 3.18%
Asian Indian 3 $1,275,000 $425,000 $6,245 2.88%
American Indian 1 $195,000 $195,000 $3,904 2.75%
Filipino 1 $145,000 $145,000 $0 3.38%

Approval Rates

Total approvals of all applications
91.58%

American Momentum Bank has an average approval rate.

Pick Rate

Approvals leading to origination
75.95%

American Momentum Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 632 $412,460,000 $652,627

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
632 $412,460,000 $652,627

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 31 $8,495,000 $274,032 $3,754 2.93%
40-60% 70 $74,200,000 $1,060,000 $5,431 2.81%
60-80% 274 $218,270,000 $796,606 $5,791 3.09%
80-100% 231 $108,795,000 $470,974 $6,402 2.99%
Under 20% 26 $2,700,000 $103,846 $761 4.13%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
AMERICAN BANCSHARES MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
American Momentum Bank 307 South Main Street Monahans, TX 79756 Full Service B&M $83,624
American Momentum Bank 100 East Hondo Street Devine, TX 78016 Full Service B&M $66,903
American Momentum Bank 1001 Burleson Mc Camey, TX 79752 Full Service B&M $43,689
American Momentum Bank 1001 South Fort Harrison Avenue, Suite 100 Clearwater, FL 33756 Full Service B&M $26,359
American Momentum Bank 1119 E. Villa Maria Road Bryan, TX 77802 Full Service B&M $22,014
American Momentum Bank 15150 North Florida Avenue Tampa, FL 33613 Full Service B&M $37,699
American Momentum Bank 200 South Main Street Andrews, TX 79714 Full Service B&M $92,648
American Momentum Bank 211 South Gaston Crane, TX 79731 Full Service B&M $39,125
American Momentum Bank 2525 North Grandview Odessa, TX 79761 Full Service B&M $80,018
American Momentum Bank 2526 N. Loop 1604 W. San Antonio, TX 78248 Full Service B&M $87,768
American Momentum Bank 2752 North County Road West Odessa, TX 79764 Full Service B&M $52,262
American Momentum Bank 5540 Fruitville Road Sarasota, FL 34232 Full Service B&M $38,663
American Momentum Bank 5858 Central Avenue Saint Petersburg, FL 33707 Full Service B&M $20,009
American Momentum Bank 600 N Marienfeld Street, Suite 200 Midland, TX 79701 Full Service B&M $227,155
American Momentum Bank 600 N. Marienfeld, 1st Floor Midland, TX 79701 Full Service Cyber Office $0
American Momentum Bank 6533 82nd Street Lubbock, TX 79423 Full Service B&M $31,937
American Momentum Bank 8625 Tamiami Trail North Naples, FL 34108 Full Service B&M $175,438
American Momentum Bank One Momentum Boulevard College Station, TX 77845 Full Service B&M $357,162
American Momentum Bank 3155 Daniels Road, 3155 Winter Garden, FL 34787 Full Service B&M $10,902
American Momentum Bank 3939 Mcintosh Road Sarasota, FL 34233 Full Service B&M $33,322
American Momentum Bank 4030 Highway 6 South College Station, TX 77845 Full Service B&M $45,217
American Momentum Bank 4040 E. 42nd St Odessa, TX 79762 Full Service B&M $27,285
American Momentum Bank 405 W. 2nd Street Big Lake, TX 76932 Full Service B&M $76,692
American Momentum Bank 4100 Billy Hext Road Odessa, TX 79762 Full Service B&M $200,528
American Momentum Bank 4830 W Kennedy Blvd Tampa, FL 33609 Full Service B&M $174,973
American Momentum Bank 500 South Washington Boulevard Sarasota, FL 34236 Full Service B&M $29,479
American Momentum Bank 505 North Main Street Seminole, TX 79360 Full Service B&M $29,167
American Momentum Bank 5201 Bahia Vista Sarasota, FL 34232 Limited, Mobile/Seasonal Office $6,555
American Momentum Bank 5237 Summerlin Commons Blvd Fort Myers, FL 33907 Limited, Administrative $0
American Momentum Bank 5312 West Wadley Avenue Midland, TX 79707 Full Service B&M $125,645

For 2021, American Momentum Bank had 30 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $92,099
Net interest income $89,770
Total noninterest income $15,987
Gross Fiduciary activities income $0
Service charges on deposit accounts $5,463
Trading account gains and fees $0
Additional Noninterest Income $10,524
Pre-tax net operating income $41,936
Securities gains (or losses, -) $-399
Income before extraordinary items $31,864
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $31,864
Minority interest net income $0
Net income $31,864
Sale, conversion, retirement of capital stock, net $-56
Net operating income $32,179

American Momentum Bank's gross interest income from loans was $92,099,000.
American Momentum Bank's net interest income from loans was $89,770,000.
American Momentum Bank's fee based income from loans was $5,463,000.
American Momentum Bank's net income from loans was $31,864,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,329
Provision for credit losses $-551
Total noninterest expense $64,372
Salaries and employee benefits $35,704
Premises and equipment expense $9,034
Additional noninterest expense $19,634
Applicable income taxes $9,673
Net charge-offs $-90
Cash dividends $446

American Momentum Bank's interest expense for loans was $2,329,000.
American Momentum Bank's payroll and benefits expense were $35,704,000.
American Momentum Bank's property, plant and equipment expenses $9,034,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 2.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $2,342,341
Deposits held in domestic offices $2,342,341
Deposits by Individuals, partnerships, and corporations $2,280,859
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $61,251
Deposits by Commercial banks and other depository institutions in U.S. $231
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,284,053
Demand deposits $1,070,656
Nontransaction accounts $1,058,288
Money market deposit accounts (MMDAs) $728,954
Other savings deposits (excluding MMDAs) $150,433
Total time deposits $178,901
Total time and savings deposits $1,271,685
Noninterest-bearing deposits $1,070,656
Interest-bearing deposits $1,271,685
Retail deposits $2,259,840
IRAs and Keogh plan accounts $15,865
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,777,617
Cash & Balances due from depository institutions $604,153
Interest-bearing balances $562,966
Total securities $149,117
Federal funds sold & reverse repurchase $0
Net loans and leases $1,787,452
Loan and leases loss allowance $17,560
Trading account assets $0
Bank premises and fixed assets $36,426
Other real estate owned $26,779
Goodwill and other intangibles $126,478
All other assets $47,212

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,777,617
Total Liabilities $2,355,765
Total deposits $2,342,341
Interest-bearing deposits $1,271,685
Deposits held in domestic offices $2,342,341
% insured (estimated) $54
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $13,424

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,787,452
Loan and leases loss allowance $17,560
Total loans and leases (domestic) $1,805,012
All real estate loans $1,333,604
Real estate loans in domestic offices $1,333,604
Construction and development loans $295,697
Residential 1-4 family construction $101,216
Other construction, all land development and other land $194,481
Loans secured by nonfarm nonresidential properties $619,139
Nonfarm nonresidential secured by owner-occupied properties $223,414
Commercial real estate & other non-farm, non-residential $395,725
Multifamily residential real estate $166,215
1-4 family residential loans $239,372
Farmland loans $13,181
Loans held in foreign offices $0
Farm loans $3,441
Commercial and industrial loans $463,875
To non-U.S. addressees $0
Loans to individuals $4,092
Credit card loans $0
Related Plans $622
Consumer Auto Loans $743
Other loans to individuals $2,727
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $162
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $388
Non 1-4 family restructured loans & leases $388
Total loans and leases (foreign) $0

American Momentum Bank had $1,787,452,000 of loans outstanding in 2021. $1,333,604,000 of loans were in real estate loans. $295,697,000 of loans were in development loans. $166,215,000 of loans were in multifamily mortgage loans. $239,372,000 of loans were in 1-4 family mortgage loans. $3,441,000 of loans were in farm loans. $0 of loans were in credit card loans. $743,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 538 $137,169 $254,961
Nonfarm, nonresidential loans - <$100k 159 $8,029 $50,497
Nonfarm, nonresidential loans - $100-250k 173 $28,581 $165,208
Nonfarm, nonresidential loans - $250k-1MM 206 $100,559 $488,150
Commercial & Industrial, US addressed loans - <$1MM 1,274 $161,275 $126,589
Commercial & Industrial, US addressed loans - <$100k 838 $27,145 $32,393
Commercial & Industrial, US addressed loans - $100-250k 242 $41,193 $170,219
Commercial & Industrial, US addressed loans - $250k-1MM 194 $92,937 $479,057
Farmland loans - <$1MM 32 $4,098 $128,063
Farmland loans - <$100k 18 $830 $46,111
Farmland loans - $100-250k 10 $1,927 $192,700
Farmland loans - $250k-1MM 4 $1,341 $335,250
Agriculture operations loans - <$1MM 35 $2,045 $58,429
Agriculture operations loans - <$100k 29 $978 $33,724
Agriculture operations loans - $100-250k 5 $767 $153,400
Agriculture operations loans - $250k-1MM 1 $300 $300,000