Amplify Mortgage Rates, Fees & Info

Austin, TX

LEI: 549300T7QCXC3PXO0W07

Tax ID: 74-1592875

5 stars - Updated: 12/3/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Amplify is a smaller mortgage company specializing in Home Improvement loans. Amplify has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Austin, Houston, Dallas, Amarillo, and San Antonio among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Amplify has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Amplify 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.38% 12/3/24
30 Year Conventional Purchase 6.66% 12/3/24
30 Year Conventional Refi 6.38% 12/3/24
30 Year Cash-out Refi 6.63% 12/3/24
30 Year FHA Purchase 6.27% 12/3/24
15 Year Conventional Purchase 7.56% 12/3/24
15 Year Conventional Refi 6.53% 12/3/24
15 Year Cash-out Refi 6.53% 12/3/24
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.

Amplify Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Amplify. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

506

Origination Dollar Volume (All Markets)

$96,580,000

Relative Rate

Amplify's average 30 year fixed mortgage rate was 7.01%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.53%.

Relative Fees (Closing Costs)

Amplify's average total fees/closing costs for a 30 year fixed rate mortgage were $7,413.

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 359 $69,115,000 $192,521 $2,021 7.77%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 46 $8,640,000 $187,826 $2,790 7.78%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 49 $7,805,000 $159,286 $1,367 7.94%
Outside of Metro Areas 14 $3,570,000 $255,000 $1,854 7.68%
AMARILLO, TX (FHA|USDA|VA) 3 $2,815,000 $938,333 $0 7.83%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 13 $1,625,000 $125,000 $2,829 7.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $1,005,000 $111,667 $2,781 7.51%
Fredericksburg, TX (FHA|USDA|VA) 1 $505,000 $505,000 $10,299 6.88%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.00%
SAN ANGELO, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,494 7.88%
Stephenville, TX (FHA|USDA|VA) 1 $205,000 $205,000 $325 7.65%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $200,000 $100,000 $325 7.40%
ODESSA, TX (FHA|USDA|VA) 1 $165,000 $165,000 $0 8.00%
Brownwood, TX (FHA|USDA|VA) 1 $145,000 $145,000 $325 6.80%
WACO, TX (FHA|USDA|VA) 2 $120,000 $60,000 $663 9.08%
VICTORIA, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,090 7.75%
ABILENE, TX (FHA|USDA|VA) 1 $65,000 $65,000 $325 8.40%
Granbury, TX (FHA|USDA|VA) 1 $55,000 $55,000 $325 8.90%
Amplify's top markets include Austin, Houston, Dallas, Amarillo, and San Antonio among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against AMPLIFY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GULF COAST
    Similarity Rank: 86
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    NAVY ARMY COMMUNITY CREDIT UNION
    Similarity Rank: 759
    DATCU
    Similarity Rank: 981

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 273 $49,725,000 $182,143 $2,041 7.42%
    HELOC 232 $46,620,000 $200,948 n/a 8.22%
    FHA 1 $235,000 $235,000 $9,198 5.63%

    For 2023, Amplify's most frequently originated type of loan was Conventional, with 273 originations. Their 2nd most popular type was HELOC, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 246 $38,960,000 $158,374 $481 7.92%
    Other 100 $16,170,000 $161,700 $692 8.00%
    Cash Out Refi 90 $17,360,000 $192,889 $1,306 7.72%
    Home Purchase 53 $16,635,000 $313,868 $7,018 6.97%
    Refi 16 $7,050,000 $440,625 $3,789 7.46%
    NA 1 $405,000 $405,000 $0 8.25%

    For 2023, Amplify's most frequently cited loan purpose was Home Improvement, with 246 originations. The 2nd most popular reason was Other, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 286 $55,120,000 $192,727 $655 8.21%
    15 Year 124 $20,750,000 $167,339 $663 7.35%
    30 Year 53 $17,685,000 $333,679 $7,413 7.01%
    10 Year 25 $2,135,000 $85,400 $539 7.29%
    5 Year 17 $875,000 $51,471 $325 7.14%
    Other 1 $15,000 $15,000 $500 5.94%

    For 2023, Amplify's most frequently cited loan duration was 20 Year, with 286 originations. The 2nd most popular length was 15 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 199 $24,285,000 $122,035
    $1k-2k 26 $8,050,000 $309,615
    $5k+ 14 $5,710,000 $407,857
    $2k-3k 11 $2,785,000 $253,182
    $3k-4k 5 $1,575,000 $315,000
    $4k-5k 3 $845,000 $281,667

    Amplify's average total fees were $7,413, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 199 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 229 $44,675,000 $195,087
    Over 8% 185 $31,795,000 $171,865
    6-7% 79 $16,605,000 $210,190
    5-6% 13 $3,505,000 $269,615

    During 2023, Amplify's average interest rate for loans was 7.01%, while their most frequently originated rate bucket for loans was 7-8%, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 165 $9,845,000 $59,667 $354 7.84%
    $100k-200k 153 $20,455,000 $133,693 $1,258 7.89%
    $200k-400k 143 $40,395,000 $282,483 $3,580 7.71%
    $400k-600k 36 $16,640,000 $462,222 $8,064 7.50%
    $600k-1MM 7 $5,075,000 $725,000 $10,514 7.23%
    $1MM+ 2 $4,170,000 $2,085,000 $0 7.50%

    2023 saw Amplify place emphasis on $100,000 or less loans with 165 originations, totaling $9,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 177 $34,765,000 $196,412 $2,524 7.87%
    $250k+ 117 $32,835,000 $280,641 $1,533 7.96%
    $100k-150k 105 $13,505,000 $128,619 $2,405 7.81%
    $75k-100k 51 $5,215,000 $102,255 $1,477 7.48%
    $50k-75k 38 $3,600,000 $94,737 $1,490 7.58%
    $50k or less 6 $360,000 $60,000 $1,266 7.33%

    Amplify lent most frequently to those with incomes in the $150k-250k range, with 177 originations. The second most popular income band? $250k+, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 93 $16,255,000 $174,785 $2,237 7.76%
    20-30% 80 $13,800,000 $172,500 $1,673 7.62%
    44% 66 $14,340,000 $217,273 $1,392 8.10%
    43% 39 $7,445,000 $190,897 $2,152 7.72%
    42% 37 $5,985,000 $161,757 $1,702 8.01%
    <20% 29 $4,665,000 $160,862 $2,915 7.55%
    40% 29 $4,555,000 $157,069 $372 8.26%
    39% 27 $4,545,000 $168,333 $914 7.95%
    37% 23 $4,165,000 $181,087 $2,325 7.63%
    41% 20 $2,730,000 $136,500 $467 7.93%
    36% 20 $4,440,000 $222,000 $2,949 7.73%
    38% 18 $3,210,000 $178,333 $2,561 7.74%
    45% 4 $1,150,000 $287,500 $5,980 7.44%
    46% 3 $675,000 $225,000 $10,863 7.71%
    48% 3 $985,000 $328,333 $5,344 6.54%
    49% 3 $1,335,000 $445,000 $9,405 6.96%

    Amplify lent most frequently to those with DTI ratios of 30-36%, with 93 originations. The next most common DTI ratio? 20-30%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 384 $71,850,000 $187,109 $1,939 7.77%
    Not provided 68 $14,640,000 $215,294 $1,571 7.82%
    Asian 35 $7,125,000 $203,571 $3,191 7.73%
    Black 11 $1,605,000 $145,909 $2,689 8.24%
    Asian Indian 4 $1,040,000 $260,000 $22,005 7.81%
    American Indian 4 $320,000 $80,000 $325 8.11%

    Approval Rates

    Total approvals of all applications
    83.21%

    Amplify has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.92%

    Amplify has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    325.0 10 $1,540,000 $154,000
    NA 496 $95,040,000 $191,613

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    506 $96,580,000 $190,870

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 173 $36,675,000 $211,994 $857 7.93%
    40-60% 46 $13,110,000 $285,000 $2,964 7.65%
    60-80% 39 $16,505,000 $423,205 $8,260 7.02%
    80-100% 18 $6,470,000 $359,444 $7,192 7.03%
    Under 20% 230 $23,820,000 $103,565 $412 7.89%