American Savings Bank Mortgage Interest Rate and Cost Review

Is American Savings Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by American Savings Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.09%)
Loan Related Closing Costshigher than average (+$418)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.asbhawaii.com

On average, American Savings Bank’s interest rates were similar to those of other lenders (-0.09%) for a comparable set of borrowers. Its average total loan related closing cost was 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 4.0 out of 5.0 stars.

American Savings Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track American Savings Bank was most active in:

  1. Urban Honolulu, HI
  2. Lihue, HI

You can click through to check out American Savings Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

American Savings Bank’s Rates 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. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingJumboVA
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%
Star Rating(4.0)(4.0)(3.5)
Refinance MortgagesConformingJumboVA
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%
Star Rating(4.0)(3.5)(3.5)

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, and we always recommend shopping among several lenders in your area before signing.

Other information about American Savings Bank:

Registered name: American Savings Bank FSB
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.