Is Amerisave Mortgage Corporation An Expensive Mortgage Lender?

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

Interest Rate: lower than average (-0.11%)
Loan Related Closing Costs: lower than average (-$294)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Amerisave Mortgage Corporation originated 8318 mortgages, a national market share of 0.1%. It was most active in AK (1.0% market share), GA (0.3% market share), and WV (0.3% market share).

On average, Amerisave Mortgage Corporation’s interest rates were lower than those of comparable mortgages at other lenders (-0.11%).1The comparable mortgages control for Amerisave Mortgage Corporation’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 $4174, which was lower than those of comparable mortgages at $4467, with a difference of -$294. Overall, we estimate that Amerisave Mortgage Corporation tends to be an cheap lender, with a cost-adjusted-rate difference of -0.13% 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 Amerisave Mortgage Corporation.

Amerisave Mortgage Corporation originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. 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 Amerisave Mortgage Corporation compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.08% -0.14% -0.08% -0.08%
Loan related Closing Cost Difference -$119 -$284 -$491 -$662
Cost Adjusted Rate Difference -0.08% -0.17% -0.13% -0.13%

Based on the table above, Amerisave Mortgage Corporation is cheap for Conforming, FHA, USDA and VA purchase mortgages.

Mortgage Refinancing from Amerisave Mortgage Corporation compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.12% -0.06% -0.09%
Loan Related Closing Cost Difference -$295 -$634 -$367
Cost Adjusted Rate Difference -0.14% -0.12% -0.13%

Based on the table above, Amerisave Mortgage Corporation is cheap for Conforming, FHA and VA mortgage refinance.

Other information about Amerisave Mortgage Corporation:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Atlanta, GA, 30305

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Footnotes   [ + ]

1. The comparable mortgages control for Amerisave Mortgage Corporation’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.