America's Choice Home Loans Lp Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 549300XUYE2687NHBM11
Tax ID: 76-0573460
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Mortgage Data
Review & Overview
America's Choice Home Loans Lp is a smaller mortgage company specializing in Home Purchase loans. America's Choice Home Loans Lp has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Houston, College Station, New York, Mcallen, and Eagle Pass among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)America's Choice Home Loans Lp 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. America's Choice Home Loans Lp 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.88% | 4/18/24 |
| 30 Year Conventional Refi | 6.75% | 4/18/24 |
| 30 Year Cash-out Refi | 7.03% | 4/18/24 |
| 30 Year FHA Purchase | 7.61% | 4/18/24 |
| 30 Year FHA Refi | 7.60% | 4/18/24 |
| 30 Year VA Purchase | 6.58% | 4/18/24 |
| 30 Year USDA Purchase | 7.01% | 4/18/24 |
| 15 Year Conventional Purchase | 6.28% | 4/18/24 |
| 15 Year Conventional Refi | 6.19% | 4/18/24 |
| 15 Year Cash-out Refi | 6.19% | 4/18/24 |
| 15 Year VA Refi | 5.81% | 4/18/24 |
| 15 Year USDA Purchase | 5.68% | 4/18/24 |
| 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. | ||
America's Choice Home Loans Lp Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
35Origination Dollar Volume (All Markets)
$7,935,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 18 | $3,880,000 | $215,556 | $5,369 | 5.18% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $6,636 | 4.94% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $7,666 | 4.97% |
| Outside of Metro Areas | 2 | $630,000 | $315,000 | $6,062 | 5.31% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,173 | 5.38% |
| Eagle Pass, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $7,174 | 5.19% |
| El Campo, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,476 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against AMERICA'S CHOICE HOME LOANS LP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 55
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Similarity Rank: 120
Similarity Rank: 120
Similarity Rank: 125
Similarity Rank: 156
Similarity Rank: 170
Similarity Rank: 200
Product Mix
For 2018, America's Choice Home Loans Lp's most frequently originated type of loan was Conventional, with 20 originations. Their 2nd most popular type was FHA, with 11 originations.
Loan Reason
For 2018, America's Choice Home Loans Lp's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 35 | $7,935,000 | $226,714 | $6,098 | 5.13% |
For 2018, America's Choice Home Loans Lp's most frequently cited loan duration was 30 Year, with 35 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 20 | $4,760,000 | $238,000 |
| $2k-3k | 10 | $1,940,000 | $194,000 |
| $3k-4k | 5 | $1,235,000 | $247,000 |
America's Choice Home Loans Lp's average total fees were $6,098, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 20 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 17 | $3,515,000 | $206,765 |
| 4-5% | 16 | $4,070,000 | $254,375 |
| 6-7% | 2 | $350,000 | $175,000 |
During 2018, America's Choice Home Loans Lp's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 5-6%, with 17 originations.
Loan Sizing
2018 saw America's Choice Home Loans Lp place emphasis on $200k-400k loans with 19 originations, totaling $4,855,000 in origination value.
Applicant Income
America's Choice Home Loans Lp lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
America's Choice Home Loans Lp lent most frequently to those with DTI ratios of 44%, with 4 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.83%
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 origination68.57%
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 | 35 | $7,935,000 | $226,714 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 35 | $7,935,000 | $226,714 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| America's Mortgage Lender, L.L.C. | VA mortgage | Closing on a mortgage | 1 | 100.0% |