Monroe Savings Bank Mortgage Rates, Fees & Info
Williamstown, NJLEI: 254900AHWPNJK6FS8K98
Tax ID: 21-0517406
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Mortgage Data
Review & Overview
Monroe Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Monroe Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Salisbury, Ocean City, Boston, and Riverside among others. We have data for 8 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.
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Originations
61Origination Dollar Volume (All Markets)
$7,335,000Top 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) | 43 | $4,345,000 | $101,047 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 4 | $220,000 | $55,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $210,000 | $52,500 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $7,335,000 | $120,246 | $0 | 0.00% |
For 2019, Monroe Savings Bank's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
For 2019, Monroe Savings Bank's most frequently cited loan purpose was Refi, with 29 originations. The 2nd most popular reason was Home Purchase, with 23 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $7,335,000 | $120,246 | $0 | 0.00% |
For 2019, Monroe Savings Bank's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2019 saw Monroe Savings Bank place emphasis on $100,000 or less loans with 36 originations, totaling $2,010,000 in origination value.
Applicant Income
Monroe Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $7,335,000 | $120,246 | $0 | 0.00% |
Monroe Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 55 | $6,685,000 | $121,545 | $0 | 0.00% |
| Black | 3 | $475,000 | $158,333 | $0 | 0.00% |
| Asian | 3 | $175,000 | $58,333 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.34%
Monroe Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination85.25%
Monroe Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 61 | $7,335,000 | $120,246 |