American Momentum Bank Mortgage Rates, Fees & Info

College Station, TX

LEI: 549300IJB00VM6H8PP97

Tax ID: 16-1764661

4.8 stars - out of 5 stars, based on 18 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    American Momentum Bank is a smaller bank specializing in 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: Orlando, Tampa, Houston, College Station, and Miami among others. We have data for 23 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 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.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.50% 3/27/23
    30 Year Conventional Refi 6.55% 3/27/23
    30 Year Cash-out Refi 6.42% 3/27/23
    30 Year FHA Purchase 7.69% 3/27/23
    30 Year VA Purchase 5.99% 3/27/23
    15 Year Conventional Purchase 6.09% 3/27/23
    15 Year Conventional Refi 5.73% 3/27/23
    15 Year Cash-out Refi 5.73% 3/27/23
    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.


    Originations

    313

    Origination Dollar Volume (All Markets)

    $269,855,000
    Show all (6) awards

    Relative Rate

    American Momentum Bank's average 30 year fixed mortgage rate was 5%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.24%.

    Relative Fees (Closing Costs)

    American Momentum Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,020.

    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
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 48 $79,330,000 $1,652,708 $8,016 4.55%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 81 $71,735,000 $885,617 $8,512 4.89%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $46,780,000 $7,796,667 $7,551 4.65%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 99 $35,425,000 $357,828 $6,197 5.02%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $9,080,000 $4,540,000 $14,309 4.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 8 $6,080,000 $760,000 $4,505 5.60%
    Outside of Metro Areas 21 $4,555,000 $216,905 $5,902 5.07%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $3,190,000 $797,500 $7,865 4.31%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $2,555,000 $511,000 $7,096 3.53%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $2,425,000 $485,000 $7,051 4.50%
    MIDLAND, TX (FHA|USDA|VA) 8 $2,020,000 $252,500 $4,813 5.45%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,290,000 $322,500 $6,488 4.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $13,495 5.38%
    LUBBOCK, TX (FHA|USDA|VA) 6 $750,000 $125,000 $3,740 6.06%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $695,000 $695,000 $0 5.63%
    ODESSA, TX (FHA|USDA|VA) 5 $675,000 $135,000 $1,545 4.82%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $625,000 $625,000 $5,917 5.75%
    Pampa, TX (FHA|USDA|VA) 2 $460,000 $230,000 $4,288 3.81%
    Brenham, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,600 5.50%
    Andrews, TX (FHA|USDA|VA) 2 $250,000 $125,000 $0 6.63%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,678 4.38%
    VICTORIA, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,430 4.88%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,700 5.13%
    American Momentum Bank's top markets include Orlando, Tampa, Houston, College Station, and Miami among others.

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

    • Similar Lenders

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

    U S WIDE FINANCIAL LLC
    Similarity Rank: 336
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 385
    AAXY L.L.C.
    Similarity Rank: 432
    AMOCO
    Similarity Rank: 810
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 960
    PRIMEWAY
    Similarity Rank: 1050
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1104
    Allied First Bank,sb
    Similarity Rank: 1134
    Credence Funding Corporation
    Similarity Rank: 1264
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 309 $268,775,000 $869,822 $6,858 4.91%
    FHA 2 $360,000 $180,000 $9,855 5.56%
    VA 2 $720,000 $360,000 $17,976 4.00%

    For 2022, American Momentum Bank's most frequently originated type of loan was Conventional, with 309 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 263 $255,625,000 $971,958 $7,700 4.94%
    Cash Out Refi 16 $4,350,000 $271,875 $4,521 4.68%
    Refi 14 $7,020,000 $501,429 $5,334 3.93%
    Other 11 $2,225,000 $202,273 $3,032 5.39%
    Home Improvement 9 $635,000 $70,556 $395 5.57%

    For 2022, American Momentum Bank's most frequently cited loan purpose was Home Purchase, with 263 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 169 $61,655,000 $364,822 $6,020 5.00%
    30+ year 87 $64,665,000 $743,276 $10,397 4.54%
    15 Year 22 $5,650,000 $256,818 $4,451 4.80%
    10 Year 19 $1,915,000 $100,789 $793 5.43%
    5 Year 7 $63,035,000 $9,005,000 $0 5.57%
    Other 5 $72,165,000 $14,433,000 $0 6.56%
    20 Year 3 $605,000 $201,667 $5,702 3.71%
    1 Year 1 $165,000 $165,000 $0 6.00%

    For 2022, American Momentum Bank's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was 30+ year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 177 $89,215,000 $504,040
    $<1k 36 $5,630,000 $156,389
    $2k-3k 18 $8,690,000 $482,778
    $5k+ 14 $11,970,000 $855,000
    $3k-4k 10 $4,690,000 $469,000
    $4k-5k 6 $3,170,000 $528,333

    American Momentum Bank's average total fees were $6,020, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 177 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 95 $102,015,000 $1,073,842
    5-6% 90 $78,110,000 $867,889
    3-4% 67 $38,495,000 $574,552
    6-7% 37 $40,485,000 $1,094,189
    2.5-3% 12 $8,020,000 $668,333
    7-8% 8 $1,970,000 $246,250
    Over 8% 3 $305,000 $101,667
    <2.5% 1 $455,000 $455,000

    During 2022, American Momentum Bank's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 4-5%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 87 $25,605,000 $294,310 $5,347 4.94%
    $600k-1MM 69 $50,035,000 $725,145 $10,031 4.52%
    $100k-200k 64 $9,410,000 $147,031 $3,462 5.24%
    $400k-600k 53 $26,675,000 $503,302 $8,165 4.79%
    $100,000 or less 21 $1,335,000 $63,571 $1,595 5.48%
    $1MM+ 19 $156,795,000 $8,252,368 $13,867 4.78%

    2022 saw American Momentum Bank place emphasis on $200k-400k loans with 87 originations, totaling $25,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 108 $74,430,000 $689,167 $9,278 4.79%
    $150k-250k 82 $33,530,000 $408,902 $6,659 4.87%
    $100k-150k 56 $15,270,000 $272,679 $5,621 4.97%
    $75k-100k 26 $6,540,000 $251,538 $5,101 5.01%
    $50k or less 13 $1,485,000 $114,231 $3,391 4.58%
    $50k-75k 12 $1,880,000 $156,667 $3,809 4.96%

    American Momentum Bank lent most frequently to those with incomes in the $250k+ range, with 108 originations. The second most popular income band? $150k-250k, with 82 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 70 $31,700,000 $452,857 $6,299 4.95%
    30-36% 53 $23,895,000 $450,849 $7,160 4.89%
    <20% 34 $15,760,000 $463,529 $7,031 4.67%
    42% 20 $10,580,000 $529,000 $9,571 4.78%
    37% 16 $5,670,000 $354,375 $6,648 5.00%
    41% 14 $6,150,000 $439,286 $7,080 4.77%
    38% 14 $7,700,000 $550,000 $7,527 4.85%
    46% 11 $4,465,000 $405,909 $6,078 4.84%
    40% 10 $6,000,000 $600,000 $8,782 4.76%
    44% 9 $2,435,000 $270,556 $3,917 4.90%
    47% 9 $3,505,000 $389,444 $5,994 4.92%
    39% 9 $6,475,000 $719,444 $8,089 4.63%
    36% 8 $2,420,000 $302,500 $6,594 4.84%
    43% 6 $2,360,000 $393,333 $7,615 5.15%
    48% 5 $1,445,000 $289,000 $6,243 4.03%
    45% 4 $1,730,000 $432,500 $6,760 4.38%
    49% 2 $540,000 $270,000 $5,594 5.56%

    American Momentum Bank lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $136,720,000 $8,545,000 $0 5.83%
    White 170 $69,480,000 $408,706 $6,453 4.89%
    Not provided 94 $45,440,000 $483,404 $7,466 4.87%
    Asian Indian 7 $6,115,000 $873,571 $10,643 4.66%
    Asian 12 $5,140,000 $428,333 $7,921 4.84%
    Black 8 $4,160,000 $520,000 $7,847 4.58%
    American Indian 5 $2,155,000 $431,000 $5,894 4.70%
    Other Asian 1 $645,000 $645,000 $10,243 3.88%

    Approval Rates

    Total approvals of all applications
    84.75%

    American Momentum Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.01%

    American Momentum Bank 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 313 $269,855,000 $862,157

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    313 $269,855,000 $862,157

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $4,620,000 $256,667 $4,365 4.62%
    40-60% 25 $93,815,000 $3,752,600 $5,206 4.77%
    60-80% 125 $101,855,000 $814,840 $7,284 4.90%
    80-100% 129 $68,415,000 $530,349 $8,214 4.90%
    Under 20% 16 $1,150,000 $71,875 $606 5.66%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERICAN PACIFIC MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%