Is AmeriSouth Mortgage Company An Expensive Mortgage Lender?

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

Interest Rate: similar to average (-0.03%)
Loan Related Closing Costs: lower than average (-$1422)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, AmeriSouth Mortgage Company originated 237 mortgages, a national market share of 0.0%. It was primarily active in NC (0.1% market share) and SC (0.1% market share).

On average, AmeriSouth Mortgage Company’s interest rates were similar to those of comparable mortgages at other lenders (-0.03%).1The comparable mortgages control for AmeriSouth 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 $2776, which was lower than those of comparable mortgages at $4198, with a difference of -$1422. Overall, we estimate that AmeriSouth Mortgage Company tends to be an cheap lender, with a cost-adjusted-rate difference of -0.18% 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 AmeriSouth Mortgage Company.

AmeriSouth Mortgage Company originated Conforming and 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 AmeriSouth Mortgage Company compared to other lenders

ConformingFHA
Interest Rate Difference+0.03%-0.11%
Loan related Closing Cost Difference-$1381-$1478
Cost Adjusted Rate Difference-0.12%-0.27%

Based on the table above, AmeriSouth Mortgage Company is cheap for Conforming and FHA purchase mortgages.

Other information about AmeriSouth Mortgage Company:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Charlotte, NC, 28227

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Footnotes

Footnotes
1The comparable mortgages control for AmeriSouth 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.
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.