America’s Choice Home Loans Mortgage Interest Rate and Cost Review

Is America’s Choice Home Loans a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by America’s Choice Home Loans to those of other lenders for a comparable set of borrowers. Here is our review of America’s Choice Home Loans nationally:

Review ItemAmerica’s Choice Home Loans
Interest Ratesimilar to other lenders (+0.05%)
Loan Related Closing Costshigher than other lenders (+$355)
National Rate and Closing Cost Star Rating(3)

On average, America’s Choice Home Loans’s interest rates were similar to those of other lenders (+0.05%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$355. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit America’s Choice Home Loans, check out its website at:

America’s Choice Home Loans’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 America’s Choice Home Loans was most active in:

  1. Houston, TX
  2. College Station, TX
  3. Austin, TX
  4. Toms River, NJ
  5. Eagle Pass, TX

In addition, America’s Choice Home Loans is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

America’s Choice Home Loans’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, America’s Choice Home Loans originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.09%+0.04%+0.01%-0.02%+0.01%
Loan Related Closing Cost Difference+$373+$525+$1-$5+$133
Cost Adjusted Rate Difference+0.12%+0.08%+0.01%-0.02%+0.02%
National Star Rating(3)(3)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.01%+0.00%-0.01%
Loan Related Closing Cost Difference+$30+$25-$39
Cost Adjusted Rate Difference-0.01%+0.01%-0.01%
Average Star Rating(3.5)(3.5)(3.5)

As a summary, America’s Choice Home Loans is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing mortgages, America’s Choice Home Loans is similar to other lenders for Conforming, FHA 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 America’s Choice Home Loans:

Registered name: America’s Choice Home Loans LP
Registered city and state: Houston, TX, 77024
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 America’s Choice Home Loans’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.