Lincoln 1st Bank Mortgage Rates, Fees & Info
Lincoln Park, NJLEI: 25490076EQ27D6EE6T16
Tax ID: 22-1070100
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Mortgage Data
Review & Overview
Lincoln 1st Bank is a smaller bank specializing in Refi and Home Purchase loans. Lincoln 1st Bank has a high proportion of conventional loans. Their top two markets are New York and Philadelphia .Lincoln 1st Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
47Origination Dollar Volume (All Markets)
$16,555,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 46 | $16,360,000 | $355,652 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $16,555,000 | $352,234 | $0 | 0.00% |
For 2019, Lincoln 1st Bank's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 25 | $6,315,000 | $252,600 | $0 | 0.00% |
| Home Purchase | 21 | $10,165,000 | $484,048 | $0 | 0.00% |
| Cash Out Refi | 1 | $75,000 | $75,000 | $0 | 0.00% |
For 2019, Lincoln 1st Bank's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Home Purchase, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $16,555,000 | $352,234 | $0 | 0.00% |
For 2019, Lincoln 1st Bank's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2019 saw Lincoln 1st Bank place emphasis on $200k-400k loans with 18 originations, totaling $5,340,000 in origination value.
Applicant Income
Lincoln 1st Bank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 47 | $16,555,000 | $352,234 | $0 | 0.00% |
Lincoln 1st Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.72%
Lincoln 1st Bank has a below average approval rate.
Pick Rate
Approvals leading to origination63.83%
Lincoln 1st Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $16,555,000 | $352,234 |