We compare mortgage interest rate and loan related closing costs at Augusta Mortgage Company with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.02%)
Loan Related Closing Costs: lower than average (-$805)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Augusta Mortgage Company originated 208 mortgages, a national market share of 0.0%. It was primarily active in GA (0.1% market share) and SC (0.0% market share).
On average, Augusta Mortgage Company’s interest rates were similar to those of comparable mortgages at other lenders (-0.02%).1The comparable mortgages control for Augusta Mortgage Company’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 $2865, which was lower than those of comparable mortgages at $3670, with a difference of -$805. Overall, we estimate that Augusta Mortgage Company tends to be an cheap lender, with a cost-adjusted-rate difference of -0.09% 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 Augusta Mortgage Company.
Augusta Mortgage Company originated Conforming 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 Augusta Mortgage Company compared to other lenders
|Interest Rate Difference||-0.02%|
|Loan related Closing Cost Difference||-$805|
|Cost Adjusted Rate Difference||-0.09%|
Based on the table above, Augusta Mortgage Company is cheap for Conforming purchase mortgages.
Other information about Augusta Mortgage Company:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: AUGUSTA, GA, 30907