Schuyler Savings Bank Mortgage Rates, Fees & Info

Kearny, NJ

LEI: 254900TZKHQ9DT85IC97

Tax ID: 22-1267395

5 stars - Updated: 7/11/24 - out of 5 stars, based on 5 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.31% 7/11/24
30 Year Conventional Purchase 6.22% 7/11/24
30 Year Conventional Refi 6.43% 7/11/24
15 Year Conventional Refi 5.49% 7/11/24
15 Year Cash-out Refi 5.49% 7/11/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Schuyler Savings 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

26

Origination Dollar Volume (All Markets)

$5,570,000

Relative 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%
Schuyler Savings Bank's top markets include New York and Ocean City among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • 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.

    N C P D Federal Credit Union
    Similarity Rank: 126
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    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 168
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    LYONS MORTGAGE SERVICES, INC.
    Similarity Rank: 267
    Bogota Savings Bank
    Similarity Rank: 351

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 8 $1,340,000 $167,500 $178 6.26%
    Home Improvement 7 $1,025,000 $146,429 $0 5.44%
    Refi 6 $1,700,000 $283,333 $2,508 6.67%
    Home Purchase 5 $1,505,000 $301,000 $3,708 7.05%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 15 $3,875,000 $258,333 $3,755 6.32%
    20 Year 4 $560,000 $140,000 $794 6.38%
    5 Year 3 $135,000 $45,000 $0 5.75%
    15 Year 2 $400,000 $200,000 $1,723 6.06%
    10 Year 1 $125,000 $125,000 $0 7.00%
    Other 1 $475,000 $475,000 $0 6.75%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 7 $385,000 $55,000 $268 5.89%
    $200k-400k 7 $1,825,000 $260,714 $2,110 6.57%
    $100k-200k 6 $760,000 $126,667 $2,030 6.12%
    $400k-600k 6 $2,600,000 $433,333 $4,113 6.58%

    2023 saw Schuyler Savings Bank place emphasis on $100,000 or less loans with 7 originations, totaling $385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 11 $2,275,000 $206,818 $1,614 6.25%
    $250k+ 6 $1,690,000 $281,667 $1,898 6.64%
    $100k-150k 5 $835,000 $167,000 $2,723 6.20%
    $75k-100k 2 $130,000 $65,000 $0 5.37%
    $50k-75k 1 $165,000 $165,000 $2,642 6.38%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $2,280,000 $228,000 $2,044 6.21%
    40% 3 $565,000 $188,333 $3,525 6.58%
    <20% 3 $255,000 $85,000 $0 5.91%
    39% 2 $440,000 $220,000 $0 5.25%
    30-36% 2 $330,000 $165,000 $0 4.99%
    38% 1 $165,000 $165,000 $2,642 6.38%
    36% 1 $145,000 $145,000 $3,447 6.25%
    42% 1 $405,000 $405,000 $0 9.50%
    43% 1 $305,000 $305,000 $0 9.50%
    45% 1 $205,000 $205,000 $0 5.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $3,430,000 $190,556 $1,816 6.38%
    Not provided 5 $1,215,000 $243,000 $3,537 5.77%
    Not applicable 1 $475,000 $475,000 $0 6.75%
    American Indian 1 $425,000 $425,000 $3,795 7.25%
    Black 1 $25,000 $25,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    94.64%

    Schuyler Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.31%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    26 $5,570,000 $214,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,310,000 $218,333 $2,030 5.43%
    40-60% 6 $1,800,000 $300,000 $1,972 7.08%
    60-80% 3 $1,105,000 $368,333 $3,450 7.21%
    80-100% 2 $750,000 $375,000 $3,966 6.69%
    Under 20% 9 $605,000 $67,222 $178 5.93%