AmWest Funding Mortgage Interest Rate and Cost Review

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

Interest Ratehigher than average (+0.43%)
Loan Related Closing Costshigher than average (+$1072)
National Rate and Closing Cost Rating(1.0)

On average, AmWest Funding’s interest rates were higher than those of other lenders (+0.43%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$1072. Overall, combining interest rates and closing costs we estimate that AmWest Funding tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 1.0 out of 5.0 stars.

AmWest Funding’s Rates by Area

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

  1. Los Angeles, CA
  2. San Francisco, CA
  3. West Jordan, UT
  4. Sacramento, CA
  5. Washington, DC

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

AmWest Funding’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, AmWest Funding originated Conforming, FHA and Jumbo mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for 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.

New Purchase MortgagesConformingFHAJumbo
Interest Rate Difference+0.51%-0.00%+0.21%
Loan Related Closing Cost Difference+$1253-$49+$553
Cost Adjusted Rate Difference+0.56%-0.00%+0.22%
Star Rating(1.0)(3.5)(2.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.39%+0.00%+0.16%-0.00%
Loan Related Closing Cost Difference+$957+$98+$559+$69
Cost Adjusted Rate Difference+0.43%+0.01%+0.16%-0.00%
Star Rating(1.5)(3.5)(2.5)(3.5)

As a summary, AmWest Funding is similar to other lenders for FHA purchase mortgages. It is more expensive than other lenders for Conforming and Jumbo purchase mortgages. For refinancing mortgages, AmWest Funding is similar to other lenders for FHA and VA mortgage refinance. It is more expensive than other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about AmWest Funding:

Registered name: AmWest Funding Corp
Registered city and state: BREA, CA, 92821
Regulator: United States Department of Housing and Urban Development (HUD)

* 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 AmWest Funding’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.