The First National Bank Of Groton Mortgage Rates, Fees & Info

Groton, NY

LEI: 2549009DWV1Z50JILS65

Tax ID: 15-0328960

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
  • 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

    The First National Bank Of Groton is a smaller bank specializing in Refi and Home Purchase loans. The First National Bank Of Groton has a high proportion of conventional loans. Their top markets by origination volume include: Auburn, Ithaca, Cortland, Syracuse, and Binghamton among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The First National Bank Of Groton has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    100

    Origination Dollar Volume (All Markets)

    $9,150,000

    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
    Auburn, NY (FHA|USDA|VA) 48 $4,320,000 $90,000 $0 0.00%
    ITHACA, NY (FHA|USDA|VA) 36 $3,340,000 $92,778 $0 0.00%
    Cortland, NY (FHA|USDA|VA) 14 $1,410,000 $100,714 $0 0.00%
    SYRACUSE, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    The First National Bank Of Groton's top markets include Auburn, Ithaca, Cortland, Syracuse, and Binghamton among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $9,150,000 $91,500 $0 0.00%

    For 2019, The First National Bank Of Groton's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 43 $4,235,000 $98,488 $0 0.00%
    Home Purchase 37 $3,785,000 $102,297 $0 0.00%
    Other 14 $820,000 $58,571 $0 0.00%
    Home Improvement 6 $310,000 $51,667 $0 0.00%

    For 2019, The First National Bank Of Groton's most frequently cited loan purpose was Refi, with 43 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $9,150,000 $91,500 $0 0.00%

    For 2019, The First National Bank Of Groton's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $4,025,000 $60,075 $0 0.00%
    $100k-200k 30 $4,370,000 $145,667 $0 0.00%
    $200k-400k 3 $755,000 $251,667 $0 0.00%

    2019 saw The First National Bank Of Groton place emphasis on $100,000 or less loans with 67 originations, totaling $4,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 29 $1,935,000 $66,724 $0 0.00%
    $50k-75k 25 $2,005,000 $80,200 $0 0.00%
    $75k-100k 23 $2,495,000 $108,478 $0 0.00%
    $100k-150k 16 $1,980,000 $123,750 $0 0.00%
    $150k-250k 5 $585,000 $117,000 $0 0.00%

    The First National Bank Of Groton lent most frequently to those with incomes in the $50k or less range, with 29 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $9,150,000 $91,500 $0 0.00%

    The First National Bank Of Groton lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $9,000,000 $91,837 $0 0.00%
    Not applicable 2 $150,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.24%

    The First National Bank Of Groton 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $9,150,000 $91,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 20 $1,090,000 $54,500
    Single Family (1-4 Units):Site-Built 80 $8,060,000 $100,750