American Momentum Bank Mortgage Rates, Fees & Info
College Station, TXLEI: 549300IJB00VM6H8PP97
Tax ID: 16-1764661
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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: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.50% | 12/16/24 |
| 30 Year Conventional Refi | 6.55% | 12/16/24 |
| 30 Year Cash-out Refi | 6.42% | 12/16/24 |
| 30 Year FHA Purchase | 7.69% | 12/16/24 |
| 30 Year VA Purchase | 5.99% | 12/16/24 |
| 15 Year Conventional Purchase | 6.09% | 12/16/24 |
| 15 Year Conventional Refi | 5.73% | 12/16/24 |
| 15 Year Cash-out Refi | 5.73% | 12/16/24 |
| 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
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This is not an official calculator from American Momentum Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
313Origination Dollar Volume (All Markets)
$269,855,000Top 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% |
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.
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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
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
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
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
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
2022 saw American Momentum Bank place emphasis on $200k-400k loans with 87 originations, totaling $25,605,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications84.75%
American Momentum Bank has a below average approval rate.
Pick Rate
Approvals leading to origination69.01%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN PACIFIC MORTGAGE | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |