Generations Bank Mortgage Rates, Fees & Info
Seneca Falls, NYLEI: 254900YV0O58MHFPZV28
Tax ID: 15-0443420
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Mortgage Data
Review & Overview
Generations Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Generations Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Seneca Falls, Rochester, Syracuse, Auburn, and Corning among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Generations 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.
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Originations
35Origination Dollar Volume (All Markets)
$4,985,000Top 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 |
|---|---|---|---|---|---|
| Seneca Falls, NY (FHA|USDA|VA) | 14 | $1,760,000 | $125,714 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 10 | $1,650,000 | $165,000 | $0 | 0.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 6 | $580,000 | $96,667 | $0 | 0.00% |
| Corning, NY (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $4,830,000 | $142,059 | $0 | 0.00% |
| FHA | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2023, Generations Bank's most frequently originated type of loan was Conventional, with 34 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2023, Generations Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $4,985,000 | $142,429 | $0 | 0.00% |
For 2023, Generations Bank's most frequently cited loan duration was Other, with 35 originations.
Loan Sizing
2023 saw Generations Bank place emphasis on $100,000 or less loans with 19 originations, totaling $1,035,000 in origination value.
Applicant Income
Generations Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $4,985,000 | $142,429 | $0 | 0.00% |
Generations Bank lent most frequently to those with DTI ratios of Exempt%, with 35 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 34 | $4,440,000 | $130,588 | $0 | 0.00% |
| Asian | 1 | $545,000 | $545,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.60%
Generations Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination77.14%
Generations Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $4,985,000 | $142,429 |