Monroe Savings Bank Mortgage Rates, Fees & Info

Williamstown, NJ

LEI: 254900AHWPNJK6FS8K98

Tax ID: 21-0517406

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

    Monroe Savings Bank is a smaller bank specializing in Home Purchase loans. Monroe Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Atlantic City, New York, Ocean City, and East Stroudsburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Monroe Savings 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.

    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

    87

    Origination Dollar Volume (All Markets)

    $19,935,000

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 66 $15,980,000 $242,121 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 7 $1,595,000 $227,857 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 8 $880,000 $110,000 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $850,000 $425,000 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $285,000 $95,000 $0 0.00%
    Monroe Savings Bank's top markets include Philadelphia, Atlantic City, New York, Ocean City, and East Stroudsburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $19,935,000 $229,138 $0 0.00%

    For 2023, Monroe Savings Bank's most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $15,805,000 $243,154 $0 0.00%
    Home Improvement 10 $1,160,000 $116,000 $0 0.00%
    Refi 6 $2,040,000 $340,000 $0 0.00%
    Other 5 $905,000 $181,000 $0 0.00%
    Cash Out Refi 1 $25,000 $25,000 $0 0.00%

    For 2023, Monroe Savings Bank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Home Improvement, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $19,935,000 $229,138 $0 0.00%

    For 2023, Monroe Savings Bank's most frequently cited loan duration was Other, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 38 $5,360,000 $141,053 $0 0.00%
    $100,000 or less 19 $1,245,000 $65,526 $0 0.00%
    $200k-400k 19 $5,205,000 $273,947 $0 0.00%
    $600k-1MM 6 $4,210,000 $701,667 $0 0.00%
    $400k-600k 3 $1,385,000 $461,667 $0 0.00%
    $1MM+ 2 $2,530,000 $1,265,000 $0 0.00%

    2023 saw Monroe Savings Bank place emphasis on $100k-200k loans with 38 originations, totaling $5,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $4,560,000 $162,857 $0 0.00%
    $250k+ 20 $10,260,000 $513,000 $0 0.00%
    $50k-75k 16 $1,850,000 $115,625 $0 0.00%
    $75k-100k 14 $1,700,000 $121,429 $0 0.00%
    $150k-250k 5 $1,245,000 $249,000 $0 0.00%
    $50k or less 4 $320,000 $80,000 $0 0.00%

    Monroe Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $250k+, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 87 $19,935,000 $229,138 $0 0.00%

    Monroe Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $19,490,000 $232,024 $0 0.00%
    Asian 1 $275,000 $275,000 $0 0.00%
    Black 2 $170,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.89%

    Monroe Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.26%

    Monroe Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 87 $19,935,000 $229,138

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    87 $19,935,000 $229,138