American Federal Mortgage Corporation Rates, Fees & Info
CHESTER, NJLEI: 549300KWKWPEKL40WD44
Tax ID: 22-2812732
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
American Federal Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. American Federal Mortgage Corporation 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: New York, Philadelphia, Trenton, Miami, and Charlotte among others. We have data for 79 markets. (Some data included below & more in-depth data is available with an active subscription.)American Federal Mortgage Corporation 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. American Federal Mortgage Corporation 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.
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 | 6.49% | 4/5/25 |
| 30 Year Conventional Refi | 6.62% | 4/5/25 |
| 30 Year FHA Purchase | 7.05% | 4/5/25 |
| 30 Year FHA Refi | 6.74% | 4/5/25 |
| 30 Year VA Purchase | 6.38% | 4/5/25 |
| 30 Year VA Refi | 6.07% | 4/5/25 |
| 15 Year Conventional Purchase | 5.66% | 4/5/25 |
| 15 Year Conventional Refi | 5.63% | 4/5/25 |
| 15 Year Cash-out Refi | 5.63% | 4/5/25 |
| 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 Federal Mortgage Corporation Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from American Federal Mortgage Corporation. 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
938Origination Dollar Volume (All Markets)
$406,400,000Awards
AMERICAN FEDERAL MORTGAGE CORPORATION - 2024
AMERICAN FEDERAL MORTGAGE CORPORATION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for AMERICAN FEDERAL MORTGAGE CORPORATION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
American Federal Mortgage Corporation's average 30 year fixed mortgage rate was
6.49%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.06%.
Relative Fees (Closing Costs)
American Federal Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,214.
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 $8,356.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 451 | $220,145,000 | $488,126 | $5,341 | 6.30% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 99 | $39,075,000 | $394,697 | $5,307 | 6.41% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 37 | $17,295,000 | $467,432 | $5,340 | 6.37% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 27 | $12,915,000 | $478,333 | $6,305 | 6.24% |
| Outside of Metro Areas | 18 | $8,330,000 | $462,778 | $5,083 | 6.41% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 20 | $8,130,000 | $406,500 | $3,799 | 6.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 20 | $7,850,000 | $392,500 | $5,339 | 6.41% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 21 | $7,345,000 | $349,762 | $5,309 | 6.45% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 17 | $6,485,000 | $381,471 | $5,986 | 6.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 14 | $6,370,000 | $455,000 | $5,337 | 6.35% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 19 | $6,015,000 | $316,579 | $4,833 | 6.55% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 16 | $5,380,000 | $336,250 | $5,056 | 6.48% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 10 | $3,970,000 | $397,000 | $4,153 | 6.49% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 15 | $3,865,000 | $257,667 | $4,518 | 6.82% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 7 | $3,045,000 | $435,000 | $5,436 | 6.70% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 10 | $3,000,000 | $300,000 | $4,209 | 6.31% |
| COLUMBIA, SC (FHA|USDA|VA) | 8 | $2,750,000 | $343,750 | $3,484 | 6.23% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 4 | $2,410,000 | $602,500 | $6,605 | 6.44% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 6 | $2,280,000 | $380,000 | $4,263 | 6.67% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $2,095,000 | $698,333 | $8,729 | 6.33% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $2,090,000 | $522,500 | $3,930 | 6.44% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,780,000 | $445,000 | $5,636 | 6.21% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $1,720,000 | $430,000 | $4,238 | 6.53% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $5,396 | 6.09% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $4,706 | 6.68% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 5 | $1,355,000 | $271,000 | $4,275 | 6.52% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $4,558 | 6.69% |
| LANCASTER, PA (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $4,632 | 6.05% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $4,582 | 6.28% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $1,070,000 | $535,000 | $3,826 | 6.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $3,183 | 6.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $3,917 | 6.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $3,287 | 6.54% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $3,742 | 6.50% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $6,750 | 6.29% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $3,616 | 6.79% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $3,882 | 6.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $4,071 | 7.56% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $3,591 | 6.31% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,484 | 6.25% |
| Easton, MD (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,674 | 6.50% |
| JACKSON, TN (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,492 | 6.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $6,776 | 5.88% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,494 | 6.50% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,116 | 6.88% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,446 | 6.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,992 | 6.56% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,779 | 6.63% |
| Plattsburgh, NY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,945 | 5.38% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,923 | 6.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,733 | 6.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $13,312 | 6.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,015 | 6.50% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,550 | 6.63% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,574 | 6.75% |
| Cookeville, TN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,207 | 6.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,219 | 6.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,212 | 6.38% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,719 | 6.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,452 | 6.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,652 | 7.49% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,193 | 6.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,187 | 6.62% |
| READING, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,271 | 6.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,345 | 7.50% |
| Warren, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,531 | 5.13% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,682 | 6.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,864 | 6.50% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,193 | 6.38% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,999 | 7.13% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,073 | 5.63% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,728 | 6.13% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,119 | 5.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,844 | 6.25% |
| OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,914 | 6.75% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,910 | 5.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,421 | 7.88% |
| Rockport, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,429 | 6.50% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,272 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against AMERICAN FEDERAL MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 50
Similarity Rank: 68
Similarity Rank: 80
Similarity Rank: 82
Similarity Rank: 84
Similarity Rank: 88
Similarity Rank: 90
Similarity Rank: 96
Similarity Rank: 96
Similarity Rank: 100
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 913 | $397,205,000 | $435,055 | $5,033 | 6.38% |
| FHA | 23 | $8,515,000 | $370,217 | $10,595 | 6.16% |
| VA | 2 | $680,000 | $340,000 | $3,294 | 6.00% |
For 2024, American Federal Mortgage Corporation's most frequently originated type of loan was Conventional, with 913 originations. Their 2nd most popular type was FHA, with 23 originations.
Loan Reason
For 2024, American Federal Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 771 originations. The 2nd most popular reason was Refi, with 156 originations.
Loan Duration/Length
For 2024, American Federal Mortgage Corporation's most frequently cited loan duration was 30 Year, with 786 originations. The 2nd most popular length was 15 Year, with 111 originations.
Origination Fees/Closing Costs
American Federal Mortgage Corporation's average total fees were $5,214, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 687 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 568 | $252,760,000 | $445,000 |
| 5-6% | 247 | $109,635,000 | $443,866 |
| 7-8% | 99 | $35,505,000 | $358,636 |
| 4-5% | 21 | $7,665,000 | $365,000 |
| Over 8% | 3 | $835,000 | $278,333 |
During 2024, American Federal Mortgage Corporation's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 568 originations.
Loan Sizing
2024 saw American Federal Mortgage Corporation place emphasis on $200k-400k loans with 369 originations, totaling $112,195,000 in origination value.
Applicant Income
American Federal Mortgage Corporation lent most frequently to those with incomes in the $150k-250k range, with 377 originations. The second most popular income band? $250k+, with 240 originations.
Applicant Debt to Income Ratio
American Federal Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 221 originations. The next most common DTI ratio? 30-36%, with 211 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.02%
American Federal Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination24.52%
American Federal Mortgage Corporation 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 | 938 | $406,400,000 | $433,262 |