American Security Mortgage Corp is a privately held, full-service mortgage lender headquartered in Charlotte, North Carolina. Founded in 1999 by industry veterans Jim Abbott and Phil Mahoney, the company was established to provide a streamlined, client-focused alternative to larger, more bureaucratic mortgage operations.
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How American Security Mortgage Corp compares to other lenders
| Headquarters | Charlotte, North Carolina |
| Website | americansecuritymortgage.com |
| Rate | 0.11% less than the median rate |
| Lender fees | $1,395 (median) |
| Savings after 1 year, compared to the median interest rate | $725 |
| Savings after 10 years, compared to the median interest rate | $3,904 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,853 |
| Added cost after 10 years (vs. Tomo Mortgage) | $7,820 |
For a $400,000 mortgage, American Security Mortgage Corp’s rates and lender fees result in an estimated homebuyer savings of about $725 in the first year and around $3,904 over 10 years compared to the median lender. However, borrowers could still end up paying nearly $8,000 more over the life of the loan than they would with a lower-cost lender like Tomo Mortgage—making it worth comparing full loan estimates.
What customers are saying
American Security Mortgage Corp. receives generally positive mortgage-specific reviews from independent third-party sources. Borrowers frequently praise individual loan officers for their professionalism, responsiveness, and ability to simplify the mortgage process, especially for first-time homebuyers. Many reviewers on Yelp and Zillow highlight efficient communication, low rates, and seamless closings, with several noting repeat business and referrals due to strong customer experiences.
There is some negative feedback: a few customers report slow processing times, lack of clarity about required documentation, and difficulty reaching loan officers, resulting in delayed closings and frustration on Yelp. Overall, most clients describe American Security Mortgage as reliable, personable, and competitive on rates, though experiences can vary by branch and loan officer.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.