American Home Mortgage Rates, Fees & Info
Atlanta, GALEI: 549300N1YHCNRTYZ3E91
Tax ID: 58-1582772
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Mortgage Data
Review & Overview
American Home Mortgage is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. American Home Mortgage has a high proportion of conventional loans.American Home Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. American Home Mortgage is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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 Home Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
287Origination Dollar Volume (All Markets)
$92,705,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 287 | $92,705,000 | $323,014 | $17,704 | 6.54% |
Similar Lenders
We use machine learning to identify the top lenders compared against AMERICAN HOME MORTGAGE 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 | 287 | $92,705,000 | $323,014 | $17,704 | 6.54% |
For 2019, American Home Mortgage's most frequently originated type of loan was Conventional, with 287 originations.
Loan Reason
For 2019, American Home Mortgage's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 93 originations.
Loan Duration/Length
For 2019, American Home Mortgage's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 15 Year, with 30 originations.
Origination Fees/Closing Costs
American Home Mortgage's average total fees were $18,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 197 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 147 | $48,915,000 | $332,755 |
| 4-5% | 128 | $40,850,000 | $319,141 |
| 5-6% | 8 | $1,740,000 | $217,500 |
| 2.5-3% | 2 | $430,000 | $215,000 |
| Over 8% | 2 | $770,000 | $385,000 |
During 2019, American Home Mortgage's average interest rate for loans was 6.92%, while their most frequently originated rate bucket for loans was 3-4%, with 147 originations.
Loan Sizing
2019 saw American Home Mortgage place emphasis on $200k-400k loans with 125 originations, totaling $36,425,000 in origination value.
Applicant Income
American Home Mortgage lent most frequently to those with incomes in the $150k-250k range, with 70 originations. The second most popular income band? $100k-150k, with 62 originations.
Applicant Debt to Income Ratio
American Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.08%
American Home Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.77%
American Home Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 287 | $92,705,000 | $323,014 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 287 | $92,705,000 | $323,014 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN EQUITY MORTGAGE | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |