American Bank Of Missouri Mortgage Rates, Fees & Info

Wellsville, MO

LEI: 549300YMEOE50UQ6NM87

Tax ID: 43-0170350

5 stars - Updated: 2/26/24 - out of 5 stars, based on 18 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

American Bank Of Missouri is a smaller bank specializing in Home Purchase loans. American Bank Of Missouri has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Farmington, Flagstaff, Tampa, and Hannibal among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Bank Of Missouri 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. American Bank Of Missouri is typically a low 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 7.05% 2/26/24
30 Year Conventional Refi 7.39% 2/26/24
30 Year Cash-out Refi 7.63% 2/26/24
30 Year FHA Purchase 6.27% 2/26/24
30 Year USDA Purchase 6.99% 2/26/24
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.

American Bank Of Missouri Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from American Bank Of Missouri. 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

319

Origination Dollar Volume (All Markets)

$88,725,000

Relative Rate

American Bank Of Missouri's average 30 year fixed mortgage rate was 4.95%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.19%.

Relative Fees (Closing Costs)

American Bank Of Missouri's average total fees/closing costs for a 30 year fixed rate mortgage were $3,263.

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

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 300 $80,960,000 $269,867 $3,548 5.71%
Farmington, MO (FHA|USDA|VA) 2 $2,770,000 $1,385,000 $0 6.38%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $2,015,000 $2,015,000 $0 6.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $845,000 $845,000 $0 4.75%
Hannibal, MO (FHA|USDA|VA) 7 $785,000 $112,143 $3,384 5.25%
Outside of Metro Areas 3 $585,000 $195,000 $2,236 4.46%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $365,000 $365,000 $2,200 8.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,530 4.25%
Taylorville, IL (FHA|USDA|VA) 1 $125,000 $125,000 $2,077 4.25%
SPRINGFIELD, IL (FHA|USDA|VA) 2 $70,000 $35,000 $1,547 4.75%
American Bank Of Missouri's top markets include St. Louis, Farmington, Flagstaff, Tampa, and Hannibal among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against American Bank of Missouri based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MISSOURI Credit Union
    Similarity Rank: 108
    The Callaway Bank
    Similarity Rank: 117
    HomeBank
    Similarity Rank: 180
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 209
    Town & Country Bank
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    THOMPSON KANE & COMPANY, LLC
    Similarity Rank: 560
    JERSEY STATE BANK
    Similarity Rank: 580
    U S WIDE FINANCIAL LLC
    Similarity Rank: 720
    First National Bank of Waterloo
    Similarity Rank: 804

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 310 $87,540,000 $282,387 $2,735 5.70%
    USDA 9 $1,185,000 $131,667 $3,835 5.00%

    For 2022, American Bank Of Missouri's most frequently originated type of loan was Conventional, with 310 originations. Their 2nd most popular type was USDA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 274 $76,070,000 $277,628 $3,481 5.71%
    Refi 41 $11,685,000 $285,000 $2,358 5.49%
    Home Improvement 2 $690,000 $345,000 $0 7.00%
    Other 1 $45,000 $45,000 $1,547 4.50%
    Cash Out Refi 1 $235,000 $235,000 $1,899 4.25%

    For 2022, American Bank Of Missouri's most frequently cited loan purpose was Home Purchase, with 274 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 127 $31,695,000 $249,567 $0 5.91%
    3 Year 77 $25,995,000 $337,597 $0 5.83%
    1 Year 67 $12,875,000 $192,164 $0 5.65%
    30 Year 22 $6,560,000 $298,182 $3,263 4.95%
    5 Year 20 $10,900,000 $545,000 $0 4.45%
    10 Year 5 $335,000 $67,000 $1,547 5.65%
    20 Year 1 $365,000 $365,000 $2,200 8.75%

    For 2022, American Bank Of Missouri's most frequently cited loan duration was Other, with 127 originations. The 2nd most popular length was 3 Year, with 77 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $1,635,000 $125,769
    $1k-2k 9 $4,925,000 $547,222
    $2k-3k 2 $410,000 $205,000

    American Bank Of Missouri's average total fees were $3,263, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 117 $29,815,000 $254,829
    5-6% 86 $16,820,000 $195,581
    6-7% 54 $18,760,000 $347,407
    7-8% 40 $12,580,000 $314,500
    3-4% 11 $8,385,000 $762,273
    Over 8% 10 $2,270,000 $227,000
    2.5-3% 1 $95,000 $95,000

    During 2022, American Bank Of Missouri's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 151 $20,855,000 $138,113 $3,283 5.76%
    $200k-400k 67 $18,235,000 $272,164 $3,499 5.90%
    $100,000 or less 62 $4,660,000 $75,161 $2,266 5.39%
    $400k-600k 17 $7,875,000 $463,235 $3,818 5.49%
    $1MM+ 14 $31,250,000 $2,232,143 $3,511 5.63%
    $600k-1MM 8 $5,850,000 $731,250 $3,442 5.13%

    2022 saw American Bank Of Missouri place emphasis on $100k-200k loans with 151 originations, totaling $20,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $4,520,000 $753,333 $2,689 5.58%
    $75k-100k 6 $1,150,000 $191,667 $3,889 5.40%
    $50k-75k 5 $535,000 $107,000 $2,575 4.80%
    $50k or less 5 $435,000 $87,000 $3,059 4.83%
    $100k-150k 4 $1,350,000 $337,500 $3,436 6.19%
    $150k-250k 3 $1,295,000 $431,667 $3,255 5.08%

    American Bank Of Missouri lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 8 $1,660,000 $207,500 $3,050 5.25%
    30-36% 4 $2,780,000 $695,000 $3,140 5.56%
    37% 4 $740,000 $185,000 $3,564 4.47%
    <20% 3 $345,000 $115,000 $2,022 4.42%
    39% 3 $745,000 $248,333 $3,721 4.63%
    38% 2 $260,000 $130,000 $3,326 5.75%

    American Bank Of Missouri lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 290 $79,440,000 $273,931 $4,161 5.72%
    White 28 $7,270,000 $259,643 $3,104 5.29%
    Not provided 1 $2,015,000 $2,015,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    97.30%

    American Bank Of Missouri 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
    86.83%

    American Bank Of Missouri has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 319 $88,725,000 $278,135

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    319 $88,725,000 $278,135

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $575,000 $191,667 $1,547 5.42%
    40-60% 16 $6,060,000 $378,750 $3,242 5.44%
    60-80% 134 $40,400,000 $301,493 $2,374 5.53%
    80-100% 105 $30,185,000 $287,476 $3,732 5.81%
    Over 100% 2 $220,000 $110,000 $3,979 6.25%
    Under 20% 59 $11,285,000 $191,271 $0 5.88%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERIS BANCORP Conventional home mortgage Trouble during payment process 1 100.0%