Is American Savings Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by American Savings Bank to those of other lenders for a comparable set of borrowers. Here is our review of American Savings Bank nationally:
|Review Item||American Savings Bank|
|Interest Rate||similar to other lenders (-0.09%)|
|Loan Related Closing Costs||higher than other lenders (+$418)|
|National Rate and Closing Cost Star Rating||(4)|
On average, American Savings Bank’s interest rates were similar to those of other lenders (-0.09%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$418. Overall, combining interest rates and closing costs we estimate that American Savings Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit American Savings Bank, check out its website at: https://www.asbhawaii.com.
American Savings Bank’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track American Savings Bank was most active in:
American Savings Bank’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, American Savings Bank originated Conforming, Jumbo and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming||Jumbo||VA|
|Interest Rate Difference||-0.07%||-0.06%||-0.02%|
|Loan Related Closing Cost Difference||+$298||+$138||+$198|
|Cost Adjusted Rate Difference||-0.06%||-0.06%||-0.01%|
|National Star Rating|
|Interest Rate Difference||-0.13%||-0.04%||-0.00%|
|Loan Related Closing Cost Difference||+$664||+$22||+$360|
|Cost Adjusted Rate Difference||-0.11%||-0.04%||+0.01%|
|Average Star Rating|
As a summary, American Savings Bank is cheap for Conforming and Jumbo purchase mortgages. It is similar to other lenders for VA purchase mortgages. For refinancing, American Savings Bank is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about American Savings Bank:
Registered city and state: HONOLULU, HI, 96804
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: HAWAIIAN ELECTRIC INDUSTRIES, INC.
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for American Savings Bank’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.