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 Home Purchase loans. American Bank Of Missouri has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Wichita, Columbia, Champaign, and Farmington among others. We have data for 14 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 an above 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 relatively high 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% | 4/14/24 |
| 30 Year Conventional Refi | 7.39% | 4/14/24 |
| 30 Year Cash-out Refi | 7.63% | 4/14/24 |
| 30 Year FHA Purchase | 6.27% | 4/14/24 |
| 30 Year USDA Purchase | 6.99% | 4/14/24 |
| 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
190Origination Dollar Volume (All Markets)
$119,370,000Relative Rate
American Bank Of Missouri's average 30 year fixed mortgage rate was
9.67%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 3.19%.
Relative Fees (Closing Costs)
American Bank Of Missouri's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,830.
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 $9,089.
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) | 173 | $53,405,000 | $308,699 | $1,612 | 9.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $21,405,000 | $21,405,000 | $0 | 8.50% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $12,325,000 | $12,325,000 | $0 | 9.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $9,745,000 | $9,745,000 | $0 | 8.50% |
| Farmington, MO (FHA|USDA|VA) | 2 | $6,170,000 | $3,085,000 | $0 | 8.88% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $4,090,000 | $2,045,000 | $1,169 | 9.25% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $0 | 8.75% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $3,605,000 | $3,605,000 | $0 | 8.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $3,040,000 | $1,520,000 | $0 | 9.00% |
| Outside of Metro Areas | 2 | $1,080,000 | $540,000 | $0 | 8.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.50% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 8.50% |
| Jacksonville, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $519 | 9.75% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $19 | 8.50% |
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 | 190 | $119,370,000 | $628,263 | $1,090 | 8.98% |
For 2023, American Bank Of Missouri's most frequently originated type of loan was Conventional, with 190 originations.
Loan Reason
For 2023, American Bank Of Missouri's most frequently cited loan purpose was Home Purchase, with 166 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
For 2023, American Bank Of Missouri's most frequently cited loan duration was Other, with 75 originations. The 2nd most popular length was 1 Year, with 66 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $215,000 | $43,000 |
| $1k-2k | 1 | $535,000 | $535,000 |
American Bank Of Missouri's average total fees were $1,830, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 183 | $114,055,000 | $623,251 |
| 7-8% | 7 | $5,315,000 | $759,286 |
During 2023, American Bank Of Missouri's average interest rate for loans was 9.67%, while their most frequently originated rate bucket for loans was Over 8%, with 183 originations.
Loan Sizing
2023 saw American Bank Of Missouri place emphasis on $100k-200k loans with 71 originations, totaling $10,545,000 in origination value.
Applicant Income
American Bank Of Missouri lent most frequently to those with incomes in the $50k-75k range, with 4 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
American Bank Of Missouri lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 182 | $118,160,000 | $649,231 | $0 | 8.96% |
| White | 8 | $1,210,000 | $151,250 | $1,090 | 9.34% |
Approval Rates
Total approvals of all applications98.51%
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 origination95.26%
American Bank Of Missouri has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 190 | $119,370,000 | $628,263 |