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, Houston, Dallas, Sherman, and Tulsa among others. We have data for 16 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.10% | 11/21/24 |
| 30 Year FHA Purchase | 6.97% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year FHA Purchase | 7.18% | 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. | ||
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
40Origination Dollar Volume (All Markets)
$7,640,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 6 | $1,170,000 | $195,000 | $10,267 | 3.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $11,035 | 4.10% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $11,338 | 4.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $11,106 | 3.81% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $9,399 | 3.94% |
| TULSA, OK (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $7,762 | 4.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $9,980 | 4.00% |
| Pearsall, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $11,083 | 4.00% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $11,016 | 3.25% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $12,194 | 3.75% |
| Palestine, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $12,830 | 4.50% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,952 | 4.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,619 | 3.75% |
| Bay City, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,470 | 3.13% |
| Bonham, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $8,485 | 4.00% |
| Kingsville, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,336 | 3.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 40 | $7,640,000 | $191,000 | $10,156 | 3.89% |
For 2020, American Homestar Mortgage's most frequently originated type of loan was FHA, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 40 | $7,640,000 | $191,000 | $10,156 | 3.89% |
For 2020, American Homestar Mortgage's most frequently cited loan purpose was Home Purchase, with 40 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 40 | $7,640,000 | $191,000 | $10,156 | 3.89% |
For 2020, American Homestar Mortgage's most frequently cited loan duration was 30 Year, with 40 originations.
Origination Fees/Closing Costs
American Homestar Mortgage's average total fees were $10,156, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 28 | $5,280,000 | $188,571 |
| 4-5% | 9 | $1,815,000 | $201,667 |
| 2.5-3% | 2 | $340,000 | $170,000 |
During 2020, American Homestar Mortgage's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 28 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 26 | $4,370,000 | $168,077 | $9,508 | 3.79% |
| $200k-400k | 14 | $3,270,000 | $233,571 | $11,507 | 4.08% |
2020 saw American Homestar Mortgage place emphasis on $100k-200k loans with 26 originations, totaling $4,370,000 in origination value.
Applicant Income
American Homestar Mortgage lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
American Homestar Mortgage lent most frequently to those with DTI ratios of 50-60%, with 9 originations. The next most common DTI ratio? 20-30%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 36 | $6,720,000 | $186,667 | $10,036 | 3.86% |
| Black | 4 | $920,000 | $230,000 | $11,516 | 4.13% |
Approval Rates
Total approvals of all applications45.71%
American Homestar Mortgage has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-252.50%
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 | 40 | $7,640,000 | $191,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 31 | $5,555,000 | $179,194 |
| Single Family (1-4 Units):Site-Built | 9 | $2,085,000 | $231,667 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 4 | $800,000 | $200,000 | $11,403 | 3.75% |
| 80-100% | 35 | $6,635,000 | $189,571 | $10,005 | 3.90% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN HOME MORTGAGE, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |