Is American Homestar Mortgage LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at American Homestar Mortgage LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.21%)
Loan Related Closing Costs: higher than average (+$2307)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, American Homestar Mortgage LLC originated 44 mortgages, a national market share of 0.0%. It was most active in OK (0.0% market share), LA (0.0% market share), and TX (0.0% market share).

On average, American Homestar Mortgage LLC’s interest rates were lower than those of comparable mortgages at other lenders (-0.21%).1The comparable mortgages control for American Homestar Mortgage LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $10228, which was higher than those of comparable mortgages at $7921, with a difference of +$2307. Overall, we estimate that American Homestar Mortgage LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with American Homestar Mortgage LLC.

American Homestar Mortgage LLC originated FHA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from American Homestar Mortgage LLC compared to other lenders

FHA
Interest Rate Difference -0.21%
Loan related Closing Cost Difference +$2307
Cost Adjusted Rate Difference -0.01%

Based on the table above, American Homestar Mortgage LLC is similar to other lenders for FHA purchase mortgages.

Other information about American Homestar Mortgage LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: League City, TX, 77573

Footnotes   [ + ]

1. The comparable mortgages control for American Homestar Mortgage LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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