America's Choice Home Loans Lp Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 549300XUYE2687NHBM11
Tax ID: 76-0573460
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Mortgage Data
Overview
America's Choice Home Loans Lp is a smaller mortgage company specializing in Home Purchase and Refi loans. America's Choice Home Loans Lp 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 Houston, College Station, Austin, New York, and Waco among others. America's Choice Home Loans Lp 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. America's Choice Home Loans Lp is typically an average fee lendor.Originations
1,212Origination Dollar Volume (All Markets)
$330,620,000Awards
AMERICA'S CHOICE HOME LOANS LP - 2021
AMERICA'S CHOICE HOME LOANS LP is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
America's Choice Home Loans Lp's average 30 year fixed rate mortgage of loans were
3.12%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.03%.
Relative Fees
America's Choice Home Loans Lp's average total fees for a 30 year fixed rate
mortgage are $5,894.
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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 628 | $177,170,000 | $282,118 | $5,955 | 3.05% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 234 | $62,980,000 | $269,145 | $6,053 | 3.11% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 69 | $19,375,000 | $280,797 | $3,994 | 3.01% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 40 | $10,700,000 | $267,500 | $6,267 | 3.06% |
| WACO, TX (FHA|USDA|VA) | 33 | $9,895,000 | $299,848 | $3,773 | 2.76% |
| Outside of Metro Areas | 31 | $7,635,000 | $246,290 | $5,191 | 3.04% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 20 | $6,760,000 | $338,000 | $4,986 | 2.76% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 23 | $5,205,000 | $226,304 | $4,982 | 3.07% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 19 | $5,055,000 | $266,053 | $5,443 | 3.08% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 18 | $4,540,000 | $252,222 | $4,292 | 2.92% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 16 | $4,170,000 | $260,625 | $6,508 | 3.52% |
| Eagle Pass, TX (FHA|USDA|VA) | 20 | $3,360,000 | $168,000 | $6,807 | 3.25% |
| Athens, TX (FHA|USDA|VA) | 15 | $2,745,000 | $183,000 | $4,728 | 3.03% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $4,505 | 2.88% |
| Brenham, TX (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $5,034 | 2.96% |
| Brownwood, TX (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $5,000 | 3.33% |
| MIDLAND, TX (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $6,110 | 3.13% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $5,560 | 3.31% |
| Corsicana, TX (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $3,640 | 3.05% |
| Mount Pleasant, TX (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $3,047 | 2.75% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $7,119 | 2.75% |
| Huntsville, TX (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $8,577 | 3.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,610 | 2.75% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,270 | 3.00% |
| Port Lavaca, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,550 | 3.13% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,260 | 2.88% |
| Granbury, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,438 | 2.50% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,378 | 2.81% |
| TYLER, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,500 | 2.75% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,028 | 3.38% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,095 | 3.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,475 | 2.38% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,218 | 3.25% |
America's Choice Home Loans Lp's top markets include Houston, College Station, Austin, New York, and Waco among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 934 | $259,370,000 | $277,698 | $4,808 | 3.05% |
| FHA | 207 | $49,755,000 | $240,362 | $9,152 | 3.14% |
| VA | 55 | $18,155,000 | $330,091 | $7,198 | 2.83% |
| USDA | 16 | $3,340,000 | $208,750 | $6,618 | 2.77% |
For the 2021 period, America's Choice Home Loans Lp's most frequently originated loan type of loans were Conventional, with 934 originations. Their 2nd most popular type is FHA, with 207 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 783 | $216,075,000 | $275,958 | $6,369 | 3.10% |
| Refi | 392 | $104,550,000 | $266,709 | $4,312 | 2.92% |
| Cash Out Refi | 35 | $9,265,000 | $264,714 | $5,567 | 3.48% |
| Home Improvement | 2 | $730,000 | $365,000 | $7,892 | 3.25% |
For the 2021, America's Choice Home Loans Lp's most frequently cited loan purpose of loans were Home Purchase, with 783 originations. The 2nd most popular reason of loans were Refi, with 392 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,059 | $293,635,000 | $277,276 | $5,894 | 3.12% |
| 15 Year | 116 | $27,320,000 | $235,517 | $4,136 | 2.55% |
| 20 Year | 29 | $7,615,000 | $262,586 | $4,600 | 2.75% |
| Other | 5 | $1,565,000 | $313,000 | $4,281 | 2.75% |
| 10 Year | 3 | $485,000 | $161,667 | $3,748 | 2.75% |
For the 2021, America's Choice Home Loans Lp's most frequently cited loan length of loans were 30 Year, with 1,059 originations. The 2nd most popular length of loans were 15 Year, with 116 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 770 | $209,220,000 | $271,714 |
| $2k-3k | 191 | $50,825,000 | $266,099 |
| $<1k | 109 | $27,105,000 | $248,670 |
| $3k-4k | 102 | $30,350,000 | $297,549 |
| $5k+ | 39 | $12,875,000 | $330,128 |
$5,894 of loans were America's Choice Home Loans Lp's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 770 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 531 | $149,975,000 | $282,439 |
| 3-4% | 494 | $130,570,000 | $264,312 |
| <2.5% | 157 | $43,225,000 | $275,318 |
| 4-5% | 27 | $6,275,000 | $232,407 |
| 7-8% | 3 | $575,000 | $191,667 |
During 2021, America's Choice Home Loans Lp's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 2.5-3%, with 531 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 705 | $196,225,000 | $278,333 | $6,054 | 3.04% |
| $100k-200k | 319 | $50,545,000 | $158,448 | $4,681 | 3.12% |
| $400k-600k | 169 | $81,695,000 | $483,402 | $6,177 | 2.97% |
| $100,000 or less | 18 | $1,540,000 | $85,556 | $3,591 | 3.08% |
| $600k-1MM | 1 | $615,000 | $615,000 | $17,715 | 2.88% |
2021 saw America's Choice Home Loans Lp place emphasis on $200k-400k loans with 705 originations, totaling $196,225,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 288 | $85,280,000 | $296,111 | $5,382 | 3.01% |
| $50k-75k | 260 | $58,350,000 | $224,423 | $6,225 | 3.13% |
| $75k-100k | 225 | $54,425,000 | $241,889 | $5,636 | 3.08% |
| $150k-250k | 212 | $71,130,000 | $335,519 | $5,602 | 3.07% |
| $50k or less | 128 | $23,090,000 | $180,391 | $5,648 | 3.06% |
| $250k+ | 99 | $38,345,000 | $387,323 | $5,462 | 2.90% |
America's Choice Home Loans Lp lent most frequently to those with incomes in the $100k-150k range, with 288 originations. The second most popular income band? $50k-75k, with 260 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 247 | $68,235,000 | $276,255 | $4,898 | 3.01% |
| 30-36% | 211 | $60,065,000 | $284,668 | $5,031 | 2.99% |
| 50-60% | 86 | $22,000,000 | $255,814 | $9,147 | 3.17% |
| <20% | 84 | $22,970,000 | $273,452 | $4,667 | 2.92% |
| 42% | 53 | $14,145,000 | $266,887 | $5,603 | 2.96% |
| 43% | 53 | $14,055,000 | $265,189 | $5,927 | 3.27% |
| 44% | 51 | $13,425,000 | $263,235 | $5,629 | 3.11% |
| 41% | 49 | $12,075,000 | $246,429 | $5,752 | 3.13% |
| 47% | 44 | $12,260,000 | $278,636 | $5,651 | 3.09% |
| 45% | 44 | $11,900,000 | $270,455 | $6,229 | 3.07% |
| 39% | 42 | $11,990,000 | $285,476 | $6,078 | 3.22% |
| 40% | 41 | $11,775,000 | $287,195 | $6,070 | 3.18% |
| 36% | 38 | $10,970,000 | $288,684 | $5,926 | 3.05% |
| 38% | 37 | $9,755,000 | $263,649 | $5,420 | 3.03% |
| 49% | 35 | $9,905,000 | $283,000 | $6,688 | 3.05% |
| 48% | 33 | $9,205,000 | $278,939 | $5,941 | 3.01% |
| 37% | 32 | $7,890,000 | $246,563 | $5,965 | 3.12% |
| 46% | 20 | $4,730,000 | $236,500 | $5,904 | 3.28% |
| >60% | 3 | $745,000 | $248,333 | $6,570 | 2.88% |
America's Choice Home Loans Lp lent most frequently to those with DTI ratios of 20-30%, with 247 originations. The next most common DTI ratio? 30-36%, with 211 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 993 | $274,625,000 | $276,561 | $5,620 | 3.04% |
| Black | 92 | $22,770,000 | $247,500 | $6,363 | 3.21% |
| Asian | 61 | $16,775,000 | $275,000 | $5,005 | 3.01% |
| Not provided | 51 | $12,875,000 | $252,451 | $6,527 | 3.05% |
| American Indian | 9 | $2,075,000 | $230,556 | $5,212 | 3.08% |
| Other Asian | 2 | $600,000 | $300,000 | $5,215 | 2.88% |
| Asian Indian | 1 | $295,000 | $295,000 | $9,823 | 3.00% |
| Other Pacific Islander | 1 | $245,000 | $245,000 | $4,480 | 3.50% |
| Filipino | 1 | $215,000 | $215,000 | $8,029 | 3.00% |
| Native Hawaiian | 1 | $145,000 | $145,000 | $4,031 | 4.63% |
Approval Rates
Total approvals of all applications97.92%
America's Choice Home Loans Lp has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination66.53%
America's Choice Home Loans Lp 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 | 1,212 | $330,620,000 | $272,789 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,212 | $330,620,000 | $272,789 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 52 | $9,700,000 | $186,538 | $3,843 | 2.87% |
| 40-60% | 130 | $31,830,000 | $244,846 | $4,135 | 2.84% |
| 60-80% | 392 | $112,090,000 | $285,944 | $4,982 | 3.11% |
| 80-100% | 627 | $173,775,000 | $277,153 | $6,490 | 3.08% |
| Over 100% | 10 | $2,960,000 | $296,000 | $12,477 | 2.90% |
| Under 20% | 1 | $265,000 | $265,000 | $4,036 | 2.38% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| American Mortgage Service Company | FHA mortgage | Closing on a mortgage | 2 | 66.7% |
| American Mortgage Service Company | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
