1st Bank Of Sea Isle City Mortgage Rates, Fees & Info

Sea Isle City, NJ

LEI: 2549004X2N6JAS9Z3C97

Tax ID: 21-0624164

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    1st Bank Of Sea Isle City is a smaller bank specializing in Refi and Home Purchase loans. 1st Bank Of Sea Isle City has a high proportion of conventional loans. Their top two markets are Ocean City and Atlantic City .

    1st Bank Of Sea Isle City has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    41

    Origination Dollar Volume (All Markets)

    $14,245,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    OCEAN CITY, NJ (FHA|USDA|VA) 39 $13,865,000 $355,513 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $380,000 $190,000 $0 0.00%
    1st Bank Of Sea Isle City's top markets include Ocean City and Atlantic City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $14,245,000 $347,439 $0 0.00%

    For 2019, 1st Bank Of Sea Isle City's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 20 $7,730,000 $386,500 $0 0.00%
    Home Purchase 18 $5,790,000 $321,667 $0 0.00%
    Other 2 $470,000 $235,000 $0 0.00%
    Home Improvement 1 $255,000 $255,000 $0 0.00%

    For 2019, 1st Bank Of Sea Isle City's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 41 $14,245,000 $347,439 $0 0.00%

    For 2019, 1st Bank Of Sea Isle City's most frequently cited loan duration was Other, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 12 $1,770,000 $147,500 $0 0.00%
    $200k-400k 11 $2,655,000 $241,364 $0 0.00%
    $400k-600k 11 $5,225,000 $475,000 $0 0.00%
    $1MM+ 3 $3,115,000 $1,038,333 $0 0.00%
    $100,000 or less 2 $140,000 $70,000 $0 0.00%
    $600k-1MM 2 $1,340,000 $670,000 $0 0.00%

    2019 saw 1st Bank Of Sea Isle City place emphasis on $100k-200k loans with 12 originations, totaling $1,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 11 $6,125,000 $556,818 $0 0.00%
    $50k-75k 9 $2,105,000 $233,889 $0 0.00%
    $100k-150k 8 $2,160,000 $270,000 $0 0.00%
    $150k-250k 6 $2,740,000 $456,667 $0 0.00%
    $50k or less 4 $650,000 $162,500 $0 0.00%
    $75k-100k 3 $465,000 $155,000 $0 0.00%

    1st Bank Of Sea Isle City lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $50k-75k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 41 $14,245,000 $347,439 $0 0.00%

    1st Bank Of Sea Isle City lent most frequently to those with DTI ratios of Exempt%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $13,315,000 $341,410 $0 0.00%
    Not provided 2 $930,000 $465,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.73%

    1st Bank Of Sea Isle City has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    95.12%

    1st Bank Of Sea Isle City has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 41 $14,245,000 $347,439

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 41 $14,245,000 $347,439

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    1ST FINANCIAL, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    1ST FINANCIAL, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    1ST FINANCIAL, INC. FHA mortgage Closing on a mortgage 1 33.3%