Ab&t Mortgage Rates, Fees & Info
Albany, GALEI: 549300Q6CJ3H6H1U0F03
Tax ID: 58-2413470
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Mortgage Data
Review & Overview
Ab&t is a smaller mortgage company specializing in Home Purchase and Refi loans. Ab&t has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Panama City, and Americus among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Ab&t 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. Ab&t 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 relatively high rates.
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Originations
14Origination Dollar Volume (All Markets)
$2,760,000Relative Rate
Ab&t's average 30 year fixed mortgage rate was
7.94%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.46%.
Relative Fees (Closing Costs)
Ab&t's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,875.
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 $9,089.
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 |
|---|---|---|---|---|---|
| ALBANY, GA (FHA|USDA|VA) | 12 | $2,390,000 | $199,167 | $10,193 | 7.93% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.39% |
| Americus, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,556 | 8.49% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 14 | $2,760,000 | $197,143 | $6,875 | 8.00% |
For 2023, Ab&t's most frequently originated type of loan was Conventional, with 14 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $975,000 | $139,286 | $3,556 | 8.18% |
| Refi | 7 | $1,785,000 | $255,000 | $10,193 | 7.82% |
For 2023, Ab&t's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 5 Year | 10 | $980,000 | $98,000 | $0 | 7.99% |
| 30 Year | 2 | $760,000 | $380,000 | $6,875 | 7.94% |
| Other | 2 | $1,020,000 | $510,000 | $0 | 8.09% |
For 2023, Ab&t's most frequently cited loan duration was 5 Year, with 10 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $125,000 | $125,000 |
| $5k+ | 1 | $635,000 | $635,000 |
Ab&t's average total fees were $6,875, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 9 | $1,985,000 | $220,556 |
| Over 8% | 5 | $775,000 | $155,000 |
During 2023, Ab&t's average interest rate for loans was 7.94%, while their most frequently originated rate bucket for loans was 7-8%, with 9 originations.
Loan Sizing
2023 saw Ab&t place emphasis on $100,000 or less loans with 6 originations, totaling $400,000 in origination value.
Applicant Income
Ab&t lent most frequently to those with incomes in the $150k-250k range, with 1 originations. The second most popular income band? $250k+, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| >60% | 2 | $270,000 | $135,000 | $0 | 8.05% |
| 20-30% | 1 | $125,000 | $125,000 | $3,556 | 8.49% |
| 30-36% | 1 | $635,000 | $635,000 | $10,193 | 7.39% |
Ab&t lent most frequently to those with DTI ratios of >60%, with 2 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 10 | $1,730,000 | $173,000 | $0 | 8.00% |
| White | 4 | $1,030,000 | $257,500 | $6,875 | 8.00% |
Approval Rates
Total approvals of all applications100.00%
Ab&t has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.57%
Ab&t has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 14 | $2,760,000 | $197,143 |