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 loans. Ab&t has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Crestview, Atlanta, Jacksonville, and Cordele among others. We have data for 8 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 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.
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Originations
35Origination Dollar Volume (All Markets)
$7,825,000Top 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 |
|---|---|---|---|---|---|
| ALBANY, GA (FHA|USDA|VA) | 27 | $4,065,000 | $150,556 | $2,459 | 5.30% |
| Outside of Metro Areas | 1 | $1,365,000 | $1,365,000 | $0 | 5.31% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 5.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,466 | 5.10% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,799 | 4.22% |
| Cordele, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,195 | 4.89% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,089 | 4.89% |
| Americus, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,521 | 4.03% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $7,700,000 | $226,471 | $3,141 | 5.20% |
| HELOC | 1 | $125,000 | $125,000 | n/a | 5.31% |
For 2019, Ab&t's most frequently originated type of loan was Conventional, with 34 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2019, Ab&t's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 5 Year | 24 | $3,570,000 | $148,750 | $0 | 5.34% |
| 30 Year | 7 | $1,625,000 | $232,143 | $3,141 | 4.60% |
| Other | 4 | $2,630,000 | $657,500 | $0 | 5.41% |
For 2019, Ab&t's most frequently cited loan duration was 5 Year, with 24 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 3 | $495,000 | $165,000 |
| $2k-3k | 2 | $610,000 | $305,000 |
| $<1k | 1 | $55,000 | $55,000 |
| $3k-4k | 1 | $465,000 | $465,000 |
Ab&t's average total fees were $3,141, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 18 | $5,140,000 | $285,556 |
| 4-5% | 15 | $2,615,000 | $174,333 |
| 6-7% | 2 | $70,000 | $35,000 |
During 2019, Ab&t's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was 5-6%, with 18 originations.
Loan Sizing
2019 saw Ab&t place emphasis on $100,000 or less loans with 15 originations, totaling $735,000 in origination value.
Applicant Income
Ab&t lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
Ab&t lent most frequently to those with DTI ratios of 30-36%, with 2 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 35 | $7,825,000 | $223,571 |