Ab&t Mortgage Rates, Fees & Info

Albany, GA

LEI: 549300Q6CJ3H6H1U0F03

Tax ID: 58-2413470

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Mortgage Data

Review & Overview

Ab&t is a smaller mortgage company specializing in Home Purchase loans. Ab&t has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Cordele, Greenville, Statesboro, and Americus among others. We have data for 7 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. 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 about average rates.

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Originations

32

Origination Dollar Volume (All Markets)

$6,620,000

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) 26 $4,950,000 $190,385 $5,203 5.12%
Cordele, GA (FHA|USDA|VA) 1 $525,000 $525,000 $6,775 4.95%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $9,332 4.88%
Statesboro, GA (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.64%
Americus, GA (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.25%
Outside of Metro Areas 1 $145,000 $145,000 $0 5.25%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.39%
Ab&t's top markets include Albany, Cordele, Greenville, Statesboro, and Americus among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 32 $6,620,000 $206,875 $5,773 5.11%

    For 2018, Ab&t's most frequently originated type of loan was Conventional, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $5,765,000 $230,600 $7,124 5.17%
    Refi 5 $455,000 $91,000 $2,044 4.90%
    Home Improvement 1 $145,000 $145,000 $0 5.00%
    Cash Out Refi 1 $255,000 $255,000 $3,775 4.63%

    For 2018, Ab&t's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 19 $2,575,000 $135,526 $0 5.30%
    30 Year 10 $3,380,000 $338,000 $5,773 4.67%
    Other 3 $665,000 $221,667 $0 5.33%

    For 2018, Ab&t's most frequently cited loan duration was 5 Year, with 19 originations. The 2nd most popular length was 30 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 4 $1,900,000 $475,000
    $1k-2k 2 $300,000 $150,000
    $2k-3k 2 $400,000 $200,000
    $3k-4k 1 $255,000 $255,000
    $4k-5k 1 $525,000 $525,000

    Ab&t's average total fees were $5,773, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 4 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 15 $4,465,000 $297,667
    5-6% 15 $2,115,000 $141,000
    6-7% 2 $40,000 $20,000

    During 2018, Ab&t's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 15 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 11 $525,000 $47,727 $0 5.46%
    $100k-200k 11 $1,685,000 $153,182 $2,574 5.02%
    $400k-600k 7 $3,555,000 $507,857 $8,816 4.75%
    $200k-400k 3 $855,000 $285,000 $2,964 4.97%

    2018 saw Ab&t place emphasis on $100,000 or less loans with 11 originations, totaling $525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 8 $3,040,000 $380,000 $6,928 4.70%
    $100k-150k 2 $240,000 $120,000 $0 5.42%
    $150k-250k 2 $310,000 $155,000 $3,775 5.06%
    $50k or less 1 $155,000 $155,000 $3,633 4.75%
    $75k-100k 1 $115,000 $115,000 $1,826 4.38%

    Ab&t lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 3 $685,000 $228,333 $5,439 4.79%
    20-30% 2 $700,000 $350,000 $5,797 4.86%
    30-36% 1 $525,000 $525,000 $6,775 4.95%
    38% 1 $255,000 $255,000 $3,775 4.63%
    39% 1 $455,000 $455,000 $8,254 4.63%
    41% 1 $155,000 $155,000 $3,633 4.75%
    47% 1 $245,000 $245,000 $2,153 4.78%
    48% 1 $125,000 $125,000 $0 5.39%
    50-60% 1 $415,000 $415,000 $10,668 4.38%

    Ab&t lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 11 $3,105,000 $282,273 $5,915 4.80%
    Not applicable 18 $2,760,000 $153,333 $0 5.32%
    Black 3 $755,000 $251,667 $5,203 4.97%

    Approval Rates

    Total approvals of all applications
    96.97%

    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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 32 $6,620,000 $206,875

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $740,000 $370,000
    Single Family (1-4 Units):Site-Built 30 $5,880,000 $196,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $55,000 $55,000 $0 5.50%
    40-60% 2 $170,000 $85,000 $1,826 4.70%
    60-80% 16 $2,720,000 $170,000 $4,750 5.14%
    80-100% 7 $2,375,000 $339,286 $7,380 4.82%
    Over 100% 5 $1,135,000 $227,000 $0 5.46%