Schuyler Savings Bank Mortgage Rates, Fees & Info
Kearny, NJLEI: 254900TZKHQ9DT85IC97
Tax ID: 22-1267395
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Mortgage Data
Review & Overview
Schuyler Savings Bank is a smaller bank specializing in Other, Refi, and Home Purchase loans. Schuyler Savings Bank has a high proportion of conventional loans. Their top two markets are New York and Ocean City .Schuyler 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. Schuyler Savings Bank is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.31% | 4/18/24 |
| 30 Year Conventional Purchase | 6.22% | 4/18/24 |
| 30 Year Conventional Refi | 6.43% | 4/18/24 |
| 15 Year Conventional Refi | 5.49% | 4/18/24 |
| 15 Year Cash-out Refi | 5.49% | 4/18/24 |
| 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. | ||
Schuyler Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
26Origination Dollar Volume (All Markets)
$5,570,000Relative Rate
Schuyler Savings Bank's average 30 year fixed mortgage rate was
6.32%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.16%.
Relative Fees (Closing Costs)
Schuyler Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,755.
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) | 25 | $5,455,000 | $218,200 | $2,309 | 6.25% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.13% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Schuyler Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 16 | $3,380,000 | $211,250 | $2,117 | 6.44% |
| HELOC | 10 | $2,190,000 | $219,000 | n/a | 6.04% |
For 2023, Schuyler Savings Bank's most frequently originated type of loan was Conventional, with 16 originations. Their 2nd most popular type was HELOC, with 10 originations.
Loan Reason
For 2023, Schuyler Savings Bank's most frequently cited loan purpose was Other, with 8 originations. The 2nd most popular reason was Home Improvement, with 7 originations.
Loan Duration/Length
For 2023, Schuyler Savings Bank's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $2,595,000 | $235,909 |
Schuyler Savings Bank's average total fees were $3,755, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 8 | $2,040,000 | $255,000 |
| 4-5% | 7 | $1,595,000 | $227,857 |
| 5-6% | 6 | $480,000 | $80,000 |
| 7-8% | 3 | $745,000 | $248,333 |
| Over 8% | 2 | $710,000 | $355,000 |
During 2023, Schuyler Savings Bank's average interest rate for loans was 6.32%, while their most frequently originated rate bucket for loans was 6-7%, with 8 originations.
Loan Sizing
2023 saw Schuyler Savings Bank place emphasis on $100,000 or less loans with 7 originations, totaling $385,000 in origination value.
Applicant Income
Schuyler Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $250k+, with 6 originations.
Applicant Debt to Income Ratio
Schuyler Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 40%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.64%
Schuyler Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination92.31%
Schuyler Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 9 | $2,135,000 | $237,222 |
| NA | 17 | $3,435,000 | $202,059 |