Schuyler Savings Bank Mortgage Rates, Fees & Info

Kearny, NJ

LEI: 254900TZKHQ9DT85IC97

Tax ID: 22-1267395

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Mortgage Data

Bank Data

Review & Overview

Schuyler Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Schuyler Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

Schuyler 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. 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 about average 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% 3/28/24
30 Year Conventional Purchase 6.22% 3/28/24
30 Year Conventional Refi 6.43% 3/28/24
15 Year Conventional Refi 5.49% 3/28/24
15 Year Cash-out Refi 5.49% 3/28/24
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

41

Origination Dollar Volume (All Markets)

$8,245,000

Employee count

17

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) 41 $8,245,000 $201,098 $2,346 4.15%
Schuyler Savings Bank's top markets include and New York 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: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
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    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $7,820,000 $205,789 $2,346 4.14%
    HELOC 3 $425,000 $141,667 n/a 4.25%

    For 2018, Schuyler Savings Bank's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 14 $3,300,000 $235,714 $2,571 3.98%
    Home Improvement 11 $1,075,000 $97,727 $620 4.16%
    Home Purchase 10 $3,100,000 $310,000 $4,322 4.05%
    Other 5 $665,000 $133,000 $1,096 4.85%
    NA 1 $105,000 $105,000 $422 3.88%

    For 2018, Schuyler Savings Bank's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Improvement, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 10 $1,550,000 $155,000 $1,491 4.64%
    30 Year 9 $2,405,000 $267,222 $3,677 4.33%
    15 Year 8 $1,890,000 $236,250 $3,467 3.61%
    10 Year 7 $475,000 $67,857 $411 4.00%
    Other 3 $865,000 $288,333 $3,633 3.75%
    1 Year 2 $910,000 $455,000 $5,585 4.63%
    5 Year 2 $150,000 $75,000 $401 3.68%

    For 2018, Schuyler Savings Bank's most frequently cited loan duration was 20 Year, with 10 originations. The 2nd most popular length was 30 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 33 $7,145,000 $216,515

    Schuyler Savings Bank's average total fees were $3,677, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 18 $3,980,000 $221,111
    4-5% 17 $3,155,000 $185,588
    5-6% 5 $1,095,000 $219,000
    <2.5% 1 $15,000 $15,000

    During 2018, Schuyler Savings Bank's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 14 $2,010,000 $143,571 $2,013 4.28%
    $200k-400k 14 $3,810,000 $272,143 $3,339 4.33%
    $100,000 or less 9 $405,000 $45,000 $415 3.85%
    $400k-600k 3 $1,315,000 $438,333 $4,223 3.67%
    $600k-1MM 1 $705,000 $705,000 $5,585 4.00%

    2018 saw Schuyler Savings Bank place emphasis on $100k-200k loans with 14 originations, totaling $2,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 12 $3,040,000 $253,333 $2,603 4.16%
    $100k-150k 7 $1,805,000 $257,857 $3,782 4.14%
    $50k-75k 7 $535,000 $76,429 $874 4.11%
    $75k-100k 5 $545,000 $109,000 $1,623 3.95%
    $250k+ 4 $1,530,000 $382,500 $3,991 4.19%
    $50k or less 2 $80,000 $40,000 $411 4.19%

    Schuyler Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,570,000 $214,167 $2,642 4.02%
    30-36% 10 $2,280,000 $228,000 $3,131 3.77%
    37% 6 $1,130,000 $188,333 $2,170 4.46%
    <20% 2 $310,000 $155,000 $1,603 3.75%
    36% 2 $330,000 $165,000 $422 4.94%
    38% 2 $160,000 $80,000 $422 4.69%
    39% 1 $465,000 $465,000 $4,874 3.25%
    42% 1 $45,000 $45,000 $401 3.88%
    43% 1 $245,000 $245,000 $3,162 5.88%

    Schuyler Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $7,015,000 $200,429 $2,388 4.16%
    Not provided 3 $645,000 $215,000 $2,553 3.75%
    Not applicable 3 $585,000 $195,000 $401 4.41%

    Approval Rates

    Total approvals of all applications
    85.51%

    Schuyler Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.73%

    Schuyler Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 41 $8,245,000 $201,098

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 40 $8,120,000 $203,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,130,000 $141,250 $1,163 4.56%
    40-60% 9 $2,525,000 $280,556 $3,574 4.07%
    60-80% 10 $2,860,000 $286,000 $3,299 4.31%
    80-100% 5 $1,315,000 $263,000 $3,658 3.93%
    Under 20% 9 $415,000 $46,111 $415 3.80%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Schiller & Knapp, LLP Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 50.0%
    Schiller & Knapp, LLP Other type of mortgage Struggling to pay mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Schuyler Savings Bank 201 Frank E. Rodgers Blvd N Harrison, NJ 7029 Full Service B&M $5,377
    Schuyler Savings Bank 24 Davis Ave Kearny, NJ 7032 Full Service B&M $84,477

    For 2018, Schuyler Savings Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,948
    Net interest income $3,102
    Total noninterest income $210
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $38
    Trading account gains and fees $0
    Additional Noninterest Income $172
    Pre-tax net operating income $321
    Securities gains (or losses, -) $0
    Income before extraordinary items $313
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $313
    Minority interest net income $0
    Net income $313
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $313

    Schuyler Savings Bank's gross interest income from loans was $3,948,000.
    Schuyler Savings Bank's net interest income from loans was $3,102,000.
    Schuyler Savings Bank's fee based income from loans was $38,000.
    Schuyler Savings Bank's net income from loans was $313,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $846
    Provision for credit losses $34
    Total noninterest expense $2,957
    Salaries and employee benefits $1,664
    Premises and equipment expense $410
    Additional noninterest expense $883
    Applicable income taxes $8
    Net charge-offs $-1
    Cash dividends $0

    Schuyler Savings Bank's interest expense for loans was $846,000.
    Schuyler Savings Bank's payroll and benefits expense were $1,664,000.
    Schuyler Savings Bank's property, plant and equipment expenses $410,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 9.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 4.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 46.0%
    Credit card loans 0.0%
    Other individual loans 46.0%
    Auto loans 0.0%
    Other consumer loans 46.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $95,792
    Deposits held in domestic offices $95,792
    Deposits by Individuals, partnerships, and corporations $95,792
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $11,612
    Demand deposits $255
    Nontransaction accounts $84,180
    Money market deposit accounts (MMDAs) $13,974
    Other savings deposits (excluding MMDAs) $12,111
    Total time deposits $58,095
    Total time and savings deposits $95,537
    Noninterest-bearing deposits $1,693
    Interest-bearing deposits $94,099
    Retail deposits $89,111
    IRAs and Keogh plan accounts $7,531
    Brokered deposits $2,009
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $120,163
    Cash & Balances due from depository institutions $11,608
    Interest-bearing balances $11,264
    Total securities $23,491
    Federal funds sold & reverse repurchase $0
    Net loans and leases $79,222
    Loan and leases loss allowance $836
    Trading account assets $0
    Bank premises and fixed assets $1,135
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,707

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $120,163
    Total Liabilities $101,057
    Total deposits $95,792
    Interest-bearing deposits $94,099
    Deposits held in domestic offices $95,792
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $2,265

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $79,222
    Loan and leases loss allowance $836
    Total loans and leases (domestic) $80,058
    All real estate loans $79,908
    Real estate loans in domestic offices $79,908
    Construction and development loans $744
    Residential 1-4 family construction $744
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $4,772
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $4,772
    Multifamily residential real estate $5,698
    1-4 family residential loans $68,694
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $145
    Credit card loans $0
    Related Plans $88
    Consumer Auto Loans $0
    Other loans to individuals $57
    All other loans & leases $5
    Loans to foreign governments and official institutions $0
    Other loans $5
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $626
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Schuyler Savings Bank had $79,222,000 of loans outstanding in 2018. $79,908,000 of loans were in real estate loans. $744,000 of loans were in development loans. $5,698,000 of loans were in multifamily mortgage loans. $68,694,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 17 $4,751 $279,471
    Nonfarm, nonresidential loans - <$100k 2 $186 $93,000
    Nonfarm, nonresidential loans - $100-250k 7 $990 $141,429
    Nonfarm, nonresidential loans - $250k-1MM 8 $3,575 $446,875