American Homestar Mortgage Rates, Fees & Info
LEAGUE CITY, TXLEI: 549300QRLVIA94OVXY15
Tax ID: 20-4949947
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Mortgage Data
Review & Overview
American Homestar Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: San Antonio, College Station, Tulsa, and Pearsall among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)American Homestar Mortgage has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. American Homestar 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 | 6.10% | 12/16/24 |
| 30 Year FHA Purchase | 6.97% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year FHA Purchase | 7.18% | 12/16/24 |
| 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 Homestar Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
11Origination Dollar Volume (All Markets)
$2,615,000Relative Rate
American Homestar Mortgage's average 30 year fixed mortgage rate was
6.97%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.49%.
Relative Fees (Closing Costs)
American Homestar Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $13,451.
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 |
|---|---|---|---|---|---|
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $14,099 | 6.75% |
| Outside of Metro Areas | 3 | $695,000 | $231,667 | $12,482 | 6.92% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $12,734 | 6.88% |
| TULSA, OK (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $13,125 | 7.25% |
| Pearsall, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $14,203 | 7.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 11 | $2,615,000 | $237,727 | $13,242 | 6.95% |
For 2023, American Homestar Mortgage's most frequently originated type of loan was FHA, with 11 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $2,615,000 | $237,727 | $13,242 | 6.95% |
For 2023, American Homestar Mortgage's most frequently cited loan purpose was Home Purchase, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 9 | $2,165,000 | $240,556 | $13,451 | 6.97% |
| Other | 2 | $450,000 | $225,000 | $12,300 | 6.88% |
For 2023, American Homestar Mortgage's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was Other, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $4k-5k | 8 | $2,020,000 | $252,500 |
| $3k-4k | 3 | $595,000 | $198,333 |
American Homestar Mortgage's average total fees were $13,451, while their most frequently occuring range of origination fees (closing costs) were in the $4k-5k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 6 | $1,480,000 | $246,667 |
| 7-8% | 5 | $1,135,000 | $227,000 |
During 2023, American Homestar Mortgage's average interest rate for loans was 6.97%, while their most frequently originated rate bucket for loans was 6-7%, with 6 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 10 | $2,450,000 | $245,000 | $13,617 | 7.00% |
| $100k-200k | 1 | $165,000 | $165,000 | $9,497 | 6.50% |
2023 saw American Homestar Mortgage place emphasis on $200k-400k loans with 10 originations, totaling $2,450,000 in origination value.
Applicant Income
American Homestar Mortgage lent most frequently to those with incomes in the $75k-100k range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
American Homestar Mortgage lent most frequently to those with DTI ratios of 50-60%, with 4 originations. The next most common DTI ratio? 42%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications42.20%
American Homestar Mortgage has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-463.64%
American Homestar Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11 | $2,615,000 | $237,727 |