America's Choice Home Loans Lp Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300XUYE2687NHBM11

Tax ID: 76-0573460

3.9 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

1,212

Origination Dollar Volume (All Markets)

$330,620,000
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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 applications
97.92%

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 origination
66.53%

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%