Monroe Savings Bank Mortgage Rates, Fees & Info
Williamstown, NJLEI: 254900AHWPNJK6FS8K98
Tax ID: 21-0517406
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Monroe Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Monroe Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Boston, Salisbury, Ocean City, and Vineland 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 above average approval rate when compared to the average across all lenders. They have an above 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
72Origination Dollar Volume (All Markets)
$8,640,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 61 | $6,365,000 | $104,344 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $8,640,000 | $120,000 | $0 | 0.00% |
For 2018, Monroe Savings Bank's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 44 | $5,160,000 | $117,273 | $0 | 0.00% |
| Refi | 17 | $2,075,000 | $122,059 | $0 | 0.00% |
| Home Improvement | 11 | $1,405,000 | $127,727 | $0 | 0.00% |
For 2018, Monroe Savings Bank's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 72 | $8,640,000 | $120,000 | $0 | 0.00% |
For 2018, Monroe Savings Bank's most frequently cited loan duration was Other, with 72 originations.
Loan Sizing
2018 saw Monroe Savings Bank place emphasis on $100,000 or less loans with 39 originations, totaling $2,435,000 in origination value.
Applicant Income
Monroe Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 72 | $8,640,000 | $120,000 | $0 | 0.00% |
Monroe Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 72 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 66 | $7,950,000 | $120,455 | $0 | 0.00% |
| Black | 4 | $350,000 | $87,500 | $0 | 0.00% |
| Asian | 2 | $340,000 | $170,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.50%
Monroe Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination97.22%
Monroe Savings Bank 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 | 72 | $8,640,000 | $120,000 |