Augusta Mortgage Co. Rates, Fees & Info

AUGUSTA, GA

LEI: 549300WPNSM7RIMWRQ79

Tax ID: 58-1253290

4.9 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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. They have a low ratio of USDA loans. Their top markets include Augusta, Atlanta, Columbia, Myrtle Beach, and Savannah among others. Augusta Mortgage Co. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Augusta Mortgage Co. is typically an average fee lendor.


Originations

433

Origination Dollar Volume (All Markets)

$108,705,000

Awards

AUGUSTA MORTGAGE CO. 30 Year Conventional Loans bronze AUGUSTA MORTGAGE CO. FHA Loans gold AUGUSTA MORTGAGE CO. FHA Loans silver AUGUSTA MORTGAGE CO. VA Loans bronze
Show all (4) awards

Relative Rate

Augusta Mortgage Co.'s average 30 year fixed rate mortgage of loans were 2.83%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.32%.

Relative Fees

Augusta Mortgage Co.'s average total fees for a 30 year fixed rate mortgage are $5,801.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 409 $102,095,000 $249,621 $5,679 2.79%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $2,035,000 $407,000 $5,290 3.10%
Outside of Metro Areas 8 $1,760,000 $220,000 $4,612 2.63%
COLUMBIA, SC (FHA|USDA|VA) 2 $590,000 $295,000 $6,804 2.94%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $505,000 $505,000 $1,078 3.38%
SAVANNAH, GA (FHA|USDA|VA) 1 $355,000 $355,000 $6,720 3.25%
VALDOSTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $13,695 2.75%
BRUNSWICK, GA (FHA|USDA|VA) 1 $285,000 $285,000 $3,112 2.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $250,000 $125,000 $3,999 3.31%
Seneca, SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,444 3.38%
Milledgeville, GA (FHA|USDA|VA) 1 $165,000 $165,000 $5,676 2.75%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $125,000 $125,000 $2,691 2.88%

Augusta Mortgage Co.'s top markets include Augusta, Atlanta, Columbia, Myrtle Beach, and Savannah among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 259 $58,285,000 $225,039 $4,180 2.92%
VA 128 $40,910,000 $319,609 $8,154 2.56%
FHA 42 $8,610,000 $205,000 $7,202 2.72%
USDA 4 $900,000 $225,000 $4,961 2.75%

For the 2021 period, Augusta Mortgage Co.'s most frequently originated loan type of loans were Conventional, with 259 originations. Their 2nd most popular type is VA, with 128 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 332 $87,110,000 $262,380 $6,089 2.83%
Refi 66 $13,930,000 $211,061 $4,043 2.59%
Cash Out Refi 30 $6,810,000 $227,000 $4,654 2.87%
Other 4 $730,000 $182,500 $4,002 2.75%
Home Improvement 1 $125,000 $125,000 $2,441 2.80%

For the 2021, Augusta Mortgage Co.'s most frequently cited loan purpose of loans were Home Purchase, with 332 originations. The 2nd most popular reason of loans were Refi, with 66 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 398 $102,290,000 $257,010 $5,801 2.83%
15 Year 26 $4,840,000 $186,154 $3,911 2.30%
10 Year 5 $685,000 $137,000 $3,945 2.13%
20 Year 3 $585,000 $195,000 $3,289 2.75%
Other 1 $305,000 $305,000 $6,238 3.63%

For the 2021, Augusta Mortgage Co.'s most frequently cited loan length of loans were 30 Year, with 398 originations. The 2nd most popular length of loans were 15 Year, with 26 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 177 $44,635,000 $252,175
$2k-3k 89 $19,095,000 $214,551
$1k-2k 84 $14,470,000 $172,262
$3k-4k 68 $23,180,000 $340,882
$5k+ 14 $7,060,000 $504,286

$5,801 of loans were Augusta Mortgage Co.'s average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 177 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 213 $55,095,000 $258,662
<2.5% 124 $31,820,000 $256,613
3-4% 91 $21,135,000 $232,253
4-5% 5 $655,000 $131,000

During 2021, Augusta Mortgage Co.'s average interest rate of loans were 2.83%, while their most frequently originated rate bucket of loans were 2.5-3%, with 213 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 226 $61,810,000 $273,496 $6,112 2.76%
$100k-200k 126 $19,370,000 $153,730 $3,836 2.88%
$400k-600k 50 $23,770,000 $475,400 $8,941 2.75%
$100,000 or less 29 $2,435,000 $83,966 $3,187 2.79%
$600k-1MM 2 $1,320,000 $660,000 $21,209 2.88%

2021 saw Augusta Mortgage Co. place emphasis on $200k-400k loans with 226 originations, totaling $61,810,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 107 $21,905,000 $204,720 $5,459 2.80%
$100k-150k 88 $25,950,000 $294,886 $6,138 2.77%
$75k-100k 87 $21,235,000 $244,080 $5,929 2.77%
$150k-250k 61 $20,395,000 $334,344 $5,860 2.88%
$50k or less 58 $9,860,000 $170,000 $4,393 2.78%
$250k+ 17 $6,075,000 $357,353 $7,773 2.98%

Augusta Mortgage Co. lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 88 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 80 $17,100,000 $213,750 $4,054 2.85%
30-36% 51 $11,765,000 $230,686 $4,104 2.96%
<20% 33 $6,915,000 $209,545 $4,068 2.79%
49% 11 $2,545,000 $231,364 $4,504 3.00%
46% 10 $2,160,000 $216,000 $4,751 2.94%
39% 9 $2,145,000 $238,333 $4,333 2.83%
38% 9 $2,835,000 $315,000 $5,520 2.93%
40% 8 $1,700,000 $212,500 $4,792 2.98%
41% 8 $1,670,000 $208,750 $4,557 2.88%
43% 8 $2,160,000 $270,000 $3,952 3.16%
47% 7 $1,965,000 $280,714 $5,389 3.00%
37% 6 $910,000 $151,667 $3,853 2.65%
45% 6 $1,970,000 $328,333 $7,165 2.92%
42% 5 $1,405,000 $281,000 $4,367 3.13%
50-60% 4 $1,330,000 $332,500 $6,438 2.78%
44% 3 $1,105,000 $368,333 $4,694 3.17%
48% 2 $400,000 $200,000 $3,318 2.63%
36% 1 $245,000 $245,000 $5,455 3.00%

Augusta Mortgage Co. lent most frequently to those with DTI ratios of 20-30%, with 80 originations. The next most common DTI ratio? 30-36%, with 51 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 346 $85,080,000 $245,896 $5,523 2.79%
Black 46 $12,440,000 $270,435 $5,945 2.73%
Not provided 25 $6,625,000 $265,000 $6,311 2.82%
Asian 10 $2,910,000 $291,000 $6,340 2.94%
American Indian 2 $780,000 $390,000 $9,468 2.69%
Not applicable 2 $610,000 $305,000 $6,476 3.31%
Asian Indian 2 $260,000 $130,000 $4,211 2.94%

Approval Rates

Total approvals of all applications
98.44%

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
85.77%

Augusta Mortgage Co. has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 433 $108,705,000 $251,051

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
433 $108,705,000 $251,051

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 10 $1,280,000 $128,000 $3,861 2.45%
40-60% 25 $3,315,000 $132,600 $3,604 2.48%
60-80% 100 $23,580,000 $235,800 $4,376 2.96%
80-100% 125 $31,965,000 $255,720 $4,411 2.97%
Over 100% 2 $760,000 $380,000 $12,932 2.56%
Under 20% 1 $55,000 $55,000 $2,939 2.50%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Augusta Financial, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%