Augusta Mortgage Co. Rates, Fees & Info

AUGUSTA, GA

LEI: 549300WPNSM7RIMWRQ79

Tax ID: 58-1253290

5 stars - Updated: 12/16/24 - out of 5 stars, based on 14 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Augusta Mortgage Co. is a smaller mortgage company specializing in Home Purchase loans. Augusta Mortgage Co. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Augusta, Columbus, and Atlanta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Augusta Mortgage Co. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Augusta Mortgage Co. 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.

    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
    30 Year Conventional Purchase 6.53% 12/16/24
    30 Year Conventional Refi 6.65% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year FHA Purchase 7.19% 12/16/24
    30 Year VA Purchase 6.08% 12/16/24
    30 Year VA Refi 5.94% 12/16/24
    30 Year USDA Purchase 6.59% 12/16/24
    15 Year Conventional Purchase 6.00% 12/16/24
    15 Year Conventional Refi 5.90% 12/16/24
    15 Year Cash-out Refi 5.90% 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.

    Augusta Mortgage Co. Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Augusta Mortgage Co.. 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

    207

    Origination Dollar Volume (All Markets)

    $60,355,000

    Awards

    AUGUSTA MORTGAGE CO. 30 Year Conventional Loans bronze AUGUSTA MORTGAGE CO. FHA Loans bronze
    Show all (2) awards

    Relative Rate

    Augusta Mortgage Co.'s average 30 year fixed mortgage rate was 6.33%.

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

    This yields a difference of -0.15%.

    Relative Fees (Closing Costs)

    Augusta Mortgage Co.'s average total fees/closing costs for a 30 year fixed rate mortgage were $8,497.

    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
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 203 $58,875,000 $290,025 $8,377 6.32%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $565,000 $565,000 $22,454 5.75%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $525,000 $525,000 $17,801 5.25%
    Outside of Metro Areas 2 $390,000 $195,000 $5,900 7.19%
    Augusta Mortgage Co.'s top markets include Augusta, Columbus, and Atlanta among others.

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

    • Similar Lenders

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

    SRP Federal Credit Union
    Similarity Rank: 190
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 464
    Security Federal Bank
    Similarity Rank: 630
    Associated Credit Union
    Similarity Rank: 714
    FBC MORTGAGE, LLC
    Similarity Rank: 768
    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 940
    First Community Bank
    Similarity Rank: 1150
    Queensborough National Bank & Trust Company
    Similarity Rank: 1872
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 3178
    TD Bank
    Similarity Rank: 3211

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 113 $31,865,000 $281,991 $6,475 6.39%
    VA 60 $19,400,000 $323,333 $10,655 6.20%
    FHA 34 $9,090,000 $267,353 $11,111 6.30%

    For 2023, Augusta Mortgage Co.'s most frequently originated type of loan was Conventional, with 113 originations. Their 2nd most popular type was VA, with 60 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 203 $59,495,000 $293,079 $8,534 6.32%
    Refi 2 $480,000 $240,000 $5,494 5.88%
    Cash Out Refi 2 $380,000 $190,000 $4,786 6.50%

    For 2023, Augusta Mortgage Co.'s most frequently cited loan purpose was Home Purchase, with 203 originations. The 2nd most popular reason was Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 204 $59,100,000 $289,706 $8,497 6.33%
    15 Year 3 $1,255,000 $418,333 $6,487 5.58%

    For 2023, Augusta Mortgage Co.'s most frequently cited loan duration was 30 Year, with 204 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 46 $9,520,000 $206,957
    $3k-4k 42 $11,460,000 $272,857
    $<1k 39 $11,975,000 $307,051
    $5k+ 33 $15,205,000 $460,758
    $4k-5k 23 $8,465,000 $368,043
    $1k-2k 22 $2,860,000 $130,000

    Augusta Mortgage Co.'s average total fees were $8,497, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 100 $29,960,000 $299,600
    5-6% 79 $21,685,000 $274,494
    7-8% 26 $7,840,000 $301,538

    During 2023, Augusta Mortgage Co.'s average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 6-7%, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 116 $32,650,000 $281,466 $8,554 6.34%
    $100k-200k 43 $7,015,000 $163,140 $5,485 6.26%
    $400k-600k 37 $18,065,000 $488,243 $12,496 6.40%
    $100,000 or less 8 $630,000 $78,750 $3,706 6.13%
    $600k-1MM 3 $1,995,000 $665,000 $12,232 6.00%

    2023 saw Augusta Mortgage Co. place emphasis on $200k-400k loans with 116 originations, totaling $32,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 55 $17,635,000 $320,636 $9,050 6.42%
    $150k-250k 47 $17,925,000 $381,383 $9,245 6.42%
    $50k-75k 43 $8,885,000 $206,628 $7,542 6.29%
    $75k-100k 40 $10,350,000 $258,750 $8,358 6.20%
    $50k or less 14 $2,000,000 $142,857 $5,280 5.97%
    $250k+ 8 $3,560,000 $445,000 $11,162 6.36%

    Augusta Mortgage Co. lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $150k-250k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 35 $9,665,000 $276,143 $7,152 6.32%
    20-30% 31 $8,045,000 $259,516 $6,337 6.31%
    <20% 8 $1,930,000 $241,250 $5,543 6.66%
    44% 7 $2,495,000 $356,429 $8,633 6.55%
    50-60% 7 $2,765,000 $395,000 $10,994 6.66%
    42% 6 $1,450,000 $241,667 $6,725 6.52%
    37% 6 $1,610,000 $268,333 $7,574 6.50%
    45% 6 $1,800,000 $300,000 $7,355 6.44%
    41% 5 $1,505,000 $301,000 $8,991 6.33%
    39% 5 $1,645,000 $329,000 $7,313 6.03%
    47% 5 $1,575,000 $315,000 $10,265 5.80%
    48% 5 $1,365,000 $273,000 $5,727 6.35%
    40% 5 $1,565,000 $313,000 $6,740 6.19%
    49% 4 $1,550,000 $387,500 $7,971 6.56%
    36% 3 $495,000 $165,000 $4,826 6.00%
    43% 3 $1,525,000 $508,333 $14,442 6.79%
    46% 2 $600,000 $300,000 $7,951 7.25%
    38% 2 $470,000 $235,000 $5,910 5.81%
    >60% 1 $265,000 $265,000 $11,478 5.75%

    Augusta Mortgage Co. lent most frequently to those with DTI ratios of 30-36%, with 35 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 147 $42,495,000 $289,082 $8,031 6.35%
    Black 27 $7,515,000 $278,333 $9,508 6.25%
    Not provided 23 $7,405,000 $321,957 $9,236 6.27%
    Asian 8 $2,130,000 $266,250 $8,168 6.20%
    Native Hawaiian or Islander 1 $525,000 $525,000 $25,545 5.75%
    Korean 1 $285,000 $285,000 $11,296 5.63%

    Approval Rates

    Total approvals of all applications
    100.00%

    Augusta Mortgage Co. 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
    83.09%

    Augusta Mortgage Co. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 207 $60,355,000 $291,570

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    207 $60,355,000 $291,570

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $615,000 $123,000 $4,069 6.03%
    40-60% 12 $2,540,000 $211,667 $4,722 6.32%
    60-80% 41 $12,195,000 $297,439 $6,861 6.41%
    80-100% 82 $25,090,000 $305,976 $7,760 6.40%
    Over 100% 5 $1,805,000 $361,000 $17,050 6.18%
    Under 20% 1 $75,000 $75,000 $3,298 5.50%