American Bank Of Missouri Mortgage Rates, Fees & Info
Wellsville, MOLEI: 549300YMEOE50UQ6NM87
Tax ID: 43-0170350
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Mortgage Data
Review & Overview
American Bank Of Missouri is a smaller bank specializing in 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.05% | 4/1/23 |
| 30 Year Conventional Refi | 7.39% | 4/1/23 |
| 30 Year Cash-out Refi | 7.63% | 4/1/23 |
| 30 Year FHA Purchase | 6.27% | 4/1/23 |
| 30 Year USDA Purchase | 6.99% | 4/1/23 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
319Origination Dollar Volume (All Markets)
$88,725,000Relative 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% |
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.
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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
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
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
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
2022 saw American Bank Of Missouri place emphasis on $100k-200k loans with 151 originations, totaling $20,855,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.30%
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 origination86.83%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERIS BANCORP | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |