Iron Workers Savings Bank Mortgage Rates, Fees & Info

Aston, PA

LEI: 254900SBY94JVYQ1Y131

Tax ID: 23-0725980

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Mortgage Data

Review & Overview

Iron Workers Savings Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Iron Workers Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Philadelphia.

Iron Workers 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.

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Originations

58

Origination Dollar Volume (All Markets)

$10,280,000

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) 58 $10,280,000 $177,241 $0 0.00%
Iron Workers Savings Bank's top markets include and Philadelphia among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Iron Workers Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    County Savings Bank
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 156
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 438
    Dover Federal Credit Union
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    Financial Freedom Mortgage, LLC
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    FRANKLIN MINT
    Similarity Rank: 570
    FREEDOM CREDIT UNION
    Similarity Rank: 900
    FEDERATED LENDING CORPORATION
    Similarity Rank: 910

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $10,280,000 $177,241 $0 0.00%

    For 2023, Iron Workers Savings Bank's most frequently originated type of loan was Conventional, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 36 $4,780,000 $132,778 $0 0.00%
    Home Purchase 17 $4,815,000 $283,235 $0 0.00%
    Refi 4 $670,000 $167,500 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2023, Iron Workers Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 36 originations. The 2nd most popular reason was Home Purchase, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 58 $10,280,000 $177,241 $0 0.00%

    For 2023, Iron Workers Savings Bank's most frequently cited loan duration was Other, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,040,000 $52,000 $0 0.00%
    $100k-200k 19 $2,595,000 $136,579 $0 0.00%
    $200k-400k 14 $3,910,000 $279,286 $0 0.00%
    $400k-600k 3 $1,425,000 $475,000 $0 0.00%
    $600k-1MM 2 $1,310,000 $655,000 $0 0.00%

    2023 saw Iron Workers Savings Bank place emphasis on $100,000 or less loans with 20 originations, totaling $1,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $1,455,000 $161,667 $0 0.00%
    $150k-250k 6 $1,260,000 $210,000 $0 0.00%
    $250k+ 6 $1,860,000 $310,000 $0 0.00%
    $50k-75k 6 $480,000 $80,000 $0 0.00%
    $50k or less 4 $520,000 $130,000 $0 0.00%
    $75k-100k 4 $510,000 $127,500 $0 0.00%

    Iron Workers Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 58 $10,280,000 $177,241 $0 0.00%

    Iron Workers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $5,655,000 $171,364 $0 0.00%
    Not applicable 22 $4,180,000 $190,000 $0 0.00%
    Asian Indian 1 $255,000 $255,000 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Iron Workers Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.55%

    Iron Workers 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 58 $10,280,000 $177,241

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    58 $10,280,000 $177,241