Augusta Mortgage Co. Rates, Fees & Info

AUGUSTA, GA

LEI: 549300WPNSM7RIMWRQ79

Tax ID: 58-1253290

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

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Mortgage Data

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. They have a low ratio of USDA loans. Their top markets by origination volume include: Augusta, Atlanta, Columbia, Myrtle Beach, and Savannah among others. We have data for 12 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 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 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.

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% 3/28/24
30 Year Conventional Refi 6.65% 3/28/24
30 Year Cash-out Refi 6.76% 3/28/24
30 Year FHA Purchase 7.19% 3/28/24
30 Year VA Purchase 6.08% 3/28/24
30 Year VA Refi 5.94% 3/28/24
30 Year USDA Purchase 6.59% 3/28/24
15 Year Conventional Purchase 6.00% 3/28/24
15 Year Conventional Refi 5.90% 3/28/24
15 Year Cash-out Refi 5.90% 3/28/24
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

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

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) 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.

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.

    Coastal Carolina National Bank
    Similarity Rank: 675
    First Community Bank
    Similarity Rank: 1170
    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 1395
    First Palmetto Bank
    Similarity Rank: 2100
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 2280
    SRP Federal Credit Union
    Similarity Rank: 2821
    Associated Credit Union
    Similarity Rank: 3105
    Security Federal Bank
    Similarity Rank: 3582
    Deere Employees Credit Union
    Similarity Rank: 5219

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Augusta Mortgage Co.'s most frequently originated type of loan was Conventional, with 259 originations. Their 2nd most popular type was VA, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Augusta Mortgage Co.'s most frequently cited loan purpose was Home Purchase, with 332 originations. The 2nd most popular reason was 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 2021, Augusta Mortgage Co.'s most frequently cited loan duration was 30 Year, with 398 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 47 $14,175,000 $301,596
    $4k-5k 21 $9,005,000 $428,810
    $5k+ 14 $7,060,000 $504,286

    Augusta Mortgage Co.'s average total fees were $5,801, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.83%, while their most frequently originated rate bucket for loans was 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
    99.20%

    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
    88.45%

    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%