Amalgamated Bank Mortgage Rates, Fees & Info
New York, NYLEI: 254900FMBXF85WQYV433
Tax ID: 13-4920330
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Mortgage Data
Review & Overview
Amalgamated Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Amalgamated Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Washington, Los Angeles, Kansas City, and Seattle among others. We have data for 47 markets. (Some data included below & more in-depth data is available with an active subscription.)Amalgamated Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Amalgamated Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.18% | 4/16/24 |
| 30 Year Conventional Refi | 6.14% | 4/16/24 |
| 30 Year Cash-out Refi | 6.23% | 4/16/24 |
| 15 Year Conventional Purchase | 5.72% | 4/16/24 |
| 15 Year Conventional Refi | 5.68% | 4/16/24 |
| 15 Year Cash-out Refi | 5.68% | 4/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Amalgamated Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Amalgamated Bank. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
293Origination Dollar Volume (All Markets)
$337,285,000Awards
Amalgamated Bank - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
Amalgamated Bank's average 30 year fixed mortgage rate was
6.15%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.33%.
Relative Fees (Closing Costs)
Amalgamated Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,930.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 171 | $163,995,000 | $959,035 | $5,716 | 6.16% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 44 | $86,170,000 | $1,958,409 | $6,262 | 6.01% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $29,715,000 | $9,905,000 | $0 | 6.31% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $25,005,000 | $25,005,000 | $0 | 5.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $3,210,000 | $802,500 | $6,518 | 5.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $2,560,000 | $640,000 | $6,302 | 6.03% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $2,505,000 | $501,000 | $4,996 | 6.10% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,885,000 | $628,333 | $6,528 | 6.08% |
| Outside of Metro Areas | 4 | $1,790,000 | $447,500 | $10,139 | 6.03% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,535,000 | $511,667 | $6,537 | 6.46% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $1,530,000 | $765,000 | $4,804 | 5.69% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $4,933 | 6.69% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $4,601 | 6.19% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $8,827 | 5.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $9,504 | 5.81% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $5,890 | 6.41% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $4,000 | 5.75% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,957 | 6.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $4,681 | 6.38% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $14,488 | 6.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $5,031 | 6.44% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $5,245 | 5.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $6,327 | 5.75% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $7,935 | 6.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,586 | 5.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,515 | 6.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,375 | 6.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,332 | 6.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,069 | 6.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,274 | 6.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,274 | 6.81% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,895 | 5.38% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,571 | 5.50% |
| SALEM, OR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,664 | 6.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,641 | 6.13% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,229 | 6.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,850 | 6.63% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,332 | 5.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,047 | 5.75% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,114 | 6.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,413 | 7.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,577 | 7.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,454 | 5.63% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,660 | 7.13% |
| Las Vegas, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,469 | 5.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,136 | 6.25% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,964 | 6.63% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 293 | $337,285,000 | $1,151,143 | $5,870 | 6.14% |
For 2023, Amalgamated Bank's most frequently originated type of loan was Conventional, with 293 originations.
Loan Reason
For 2023, Amalgamated Bank's most frequently cited loan purpose was Home Purchase, with 256 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
For 2023, Amalgamated Bank's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 5 Year, with 9 originations.
Origination Fees/Closing Costs
Amalgamated Bank's average total fees were $5,930, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 123 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 142 | $157,210,000 | $1,107,113 |
| 6-7% | 125 | $168,415,000 | $1,347,320 |
| 7-8% | 22 | $9,120,000 | $414,545 |
| 4-5% | 3 | $2,395,000 | $798,333 |
| Over 8% | 1 | $145,000 | $145,000 |
During 2023, Amalgamated Bank's average interest rate for loans was 6.15%, while their most frequently originated rate bucket for loans was 5-6%, with 142 originations.
Loan Sizing
2023 saw Amalgamated Bank place emphasis on $200k-400k loans with 97 originations, totaling $28,275,000 in origination value.
Applicant Income
Amalgamated Bank lent most frequently to those with incomes in the $250k+ range, with 88 originations. The second most popular income band? $100k-150k, with 62 originations.
Applicant Debt to Income Ratio
Amalgamated Bank lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 20-30%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.34%
Amalgamated Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.84%
Amalgamated Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 293 | $337,285,000 | $1,151,143 |