Amarillo Community Mortgage Rates, Fees & Info
Amarillo, TXLEI: 549300P6CCUZE02WB068
Tax ID: 75-0799586
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Mortgage Data
Review & Overview
Amarillo Community is a smaller mortgage company specializing in Refi and Home Purchase loans. Amarillo Community has a high proportion of conventional loans. Their top markets by origination volume include: Amarillo, Borger, Pampa, and Hereford among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Amarillo Community 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. Amarillo Community 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 |
|---|---|---|
| 15 Year Conventional Refi | 6.28% | 11/21/24 |
| 15 Year Cash-out Refi | 6.28% | 11/21/24 |
| 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. | ||
Amarillo Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
97Origination Dollar Volume (All Markets)
$7,315,000Top 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 |
|---|---|---|---|---|---|
| AMARILLO, TX (FHA|USDA|VA) | 89 | $6,765,000 | $76,011 | $869 | 5.38% |
| Borger, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,141 | 4.50% |
| Pampa, TX (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $2,323 | 5.06% |
| Outside of Metro Areas | 2 | $70,000 | $35,000 | $645 | 6.63% |
| Hereford, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $591 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against AMARILLO COMMUNITY 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 | 97 | $7,315,000 | $75,412 | $952 | 5.38% |
For 2018, Amarillo Community's most frequently originated type of loan was Conventional, with 97 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 85 | $5,625,000 | $66,176 | $343 | 5.46% |
| Home Purchase | 11 | $1,625,000 | $147,727 | $5,341 | 4.68% |
| Other | 1 | $65,000 | $65,000 | $166 | 4.75% |
For 2018, Amarillo Community's most frequently cited loan purpose was Refi, with 85 originations. The 2nd most popular reason was Home Purchase, with 11 originations.
Loan Duration/Length
For 2018, Amarillo Community's most frequently cited loan duration was 15 Year, with 38 originations. The 2nd most popular length was Other, with 24 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 31 | $1,955,000 | $63,065 |
| $1k-2k | 5 | $685,000 | $137,000 |
| $2k-3k | 3 | $705,000 | $235,000 |
Amarillo Community's average total fees were $5,729, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 57 | $4,805,000 | $84,298 |
| 6-7% | 23 | $1,235,000 | $53,696 |
| 5-6% | 9 | $705,000 | $78,333 |
| 7-8% | 5 | $305,000 | $61,000 |
| 3-4% | 1 | $15,000 | $15,000 |
During 2018, Amarillo Community's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 57 originations.
Loan Sizing
2018 saw Amarillo Community place emphasis on $100,000 or less loans with 70 originations, totaling $3,080,000 in origination value.
Applicant Income
Amarillo Community lent most frequently to those with incomes in the $50k or less range, with 34 originations. The second most popular income band? $50k-75k, with 30 originations.
Applicant Debt to Income Ratio
Amarillo Community lent most frequently to those with DTI ratios of <20%, with 47 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 93 | $6,725,000 | $72,312 | $899 | 5.37% |
| Black | 3 | $345,000 | $115,000 | $2,628 | 6.00% |
| Asian | 1 | $245,000 | $245,000 | $441 | 4.25% |
Approval Rates
Total approvals of all applications96.19%
Amarillo Community has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.88%
Amarillo Community has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 97 | $7,315,000 | $75,412 |