Emigrant Mortgage Company Rates, Fees & Info

ELMSFORD, NY

LEI: 5493002HK8IUOTMHKS81

Tax ID: 13-3432069

5 stars - out of 5 stars, based on 16 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Emigrant Mortgage Company is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Emigrant Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: New York, Heber, Miami, Bridgeport, and Poughkeepsie among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Emigrant Mortgage Company 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. Emigrant Mortgage Company is typically an average 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.39% 3/19/23
    30 Year Conventional Refi 6.23% 3/19/23
    30 Year Cash-out Refi 6.43% 3/19/23
    15 Year Conventional Purchase 5.81% 3/19/23
    15 Year Conventional Refi 5.78% 3/19/23
    15 Year Cash-out Refi 5.78% 3/19/23
    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.


    Originations

    271

    Origination Dollar Volume (All Markets)

    $97,625,000

    Awards

    EMIGRANT MORTGAGE COMPANY 30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Emigrant Mortgage Company's average 30 year fixed mortgage rate was 3.05%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Emigrant Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $5,026.

    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 $4,750.

    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) 253 $89,155,000 $352,391 $4,855 2.93%
    Heber, UT (FHA|USDA|VA) 1 $2,025,000 $2,025,000 $7,258 3.88%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,835,000 $367,000 $4,828 2.88%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,495,000 $498,333 $4,202 3.71%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,880 3.04%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $0 3.13%
    Torrington, CT (FHA|USDA|VA) 1 $495,000 $495,000 $3,950 3.25%
    Key West, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,104 3.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,742 2.13%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.63%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $215,000 $215,000 $4,612 2.50%
    Emigrant Mortgage Company's top markets include New York, Heber, Miami, Bridgeport, and Poughkeepsie among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against EMIGRANT MORTGAGE COMPANY 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: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Columbia Bank
    Similarity Rank: 1183
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369
    Hanover Community Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 271 $97,625,000 $360,240 $4,863 2.95%

    For 2021, Emigrant Mortgage Company's most frequently originated type of loan was Conventional, with 271 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 129 $49,745,000 $385,620 $4,861 3.13%
    Cash Out Refi 69 $24,685,000 $357,754 $5,079 2.88%
    Refi 60 $19,610,000 $326,833 $4,720 2.66%
    Home Improvement 9 $2,135,000 $237,222 $4,348 2.81%
    Other 4 $1,450,000 $362,500 $4,569 2.81%

    For 2021, Emigrant Mortgage Company's most frequently cited loan purpose was Home Purchase, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 224 $85,060,000 $379,732 $5,026 3.05%
    15 Year 36 $9,080,000 $252,222 $3,961 2.35%
    20 Year 5 $1,545,000 $309,000 $5,767 2.55%
    Other 5 $1,735,000 $347,000 $3,764 2.88%
    10 Year 1 $205,000 $205,000 $4,627 2.38%

    For 2021, Emigrant Mortgage Company's most frequently cited loan duration was 30 Year, with 224 originations. The 2nd most popular length was 15 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 119 $40,635,000 $341,471
    $1k-2k 56 $14,770,000 $263,750
    $2k-3k 23 $6,605,000 $287,174
    $3k-4k 21 $7,495,000 $356,905
    $5k+ 20 $11,080,000 $554,000
    $4k-5k 9 $4,255,000 $472,778

    Emigrant Mortgage Company's average total fees were $5,026, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 159 $56,185,000 $353,365
    <2.5% 50 $11,250,000 $225,000
    3-4% 44 $20,640,000 $469,091
    5-6% 9 $4,565,000 $507,222
    4-5% 8 $3,780,000 $472,500
    6-7% 1 $1,205,000 $1,205,000

    During 2021, Emigrant Mortgage Company's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 126 $37,890,000 $300,714 $4,217 2.85%
    $400k-600k 65 $31,355,000 $482,385 $6,113 3.02%
    $100k-200k 50 $7,520,000 $150,400 $3,831 2.84%
    $600k-1MM 16 $11,120,000 $695,000 $8,458 3.20%
    $100,000 or less 7 $525,000 $75,000 $3,108 2.63%
    $1MM+ 7 $9,215,000 $1,316,429 $12,672 4.39%

    2021 saw Emigrant Mortgage Company place emphasis on $200k-400k loans with 126 originations, totaling $37,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 69 $25,845,000 $374,565 $5,168 2.93%
    $100k-150k 65 $21,975,000 $338,077 $4,541 2.79%
    $75k-100k 44 $11,950,000 $271,591 $4,317 2.77%
    $250k+ 43 $22,045,000 $512,674 $6,429 2.98%
    $50k-75k 27 $5,855,000 $216,852 $3,993 2.86%
    $50k or less 6 $600,000 $100,000 $3,276 2.48%

    Emigrant Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 69 originations. The second most popular income band? $100k-150k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $28,480,000 $331,163 $4,969 2.90%
    <20% 39 $12,785,000 $327,821 $4,169 2.72%
    30-36% 37 $13,455,000 $363,649 $5,720 2.87%
    36% 11 $4,005,000 $364,091 $4,306 2.68%
    42% 11 $4,645,000 $422,273 $4,777 2.99%
    37% 10 $2,430,000 $243,000 $4,944 2.79%
    40% 9 $4,525,000 $502,778 $5,582 3.15%
    49% 8 $2,010,000 $251,250 $3,702 2.63%
    38% 8 $3,600,000 $450,000 $4,622 3.16%
    39% 8 $3,100,000 $387,500 $4,841 2.88%
    41% 7 $2,835,000 $405,000 $4,629 2.75%
    45% 7 $1,915,000 $273,571 $3,897 2.86%
    47% 7 $2,015,000 $287,857 $5,075 2.66%
    48% 6 $3,080,000 $513,333 $5,515 2.98%
    44% 3 $1,305,000 $435,000 $5,195 3.17%
    46% 2 $780,000 $390,000 $6,241 3.13%
    43% 2 $780,000 $390,000 $4,037 2.56%

    Emigrant Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? <20%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 181 $65,255,000 $360,525 $4,817 2.84%
    Not provided 49 $16,615,000 $339,082 $5,001 2.79%
    Asian 18 $6,580,000 $365,556 $5,540 3.15%
    Not applicable 10 $5,880,000 $588,000 $0 5.23%
    Black 11 $2,625,000 $238,636 $4,480 2.83%
    Asian Indian 2 $670,000 $335,000 $3,029 3.38%

    Approval Rates

    Total approvals of all applications
    88.08%

    Emigrant Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.39%

    Emigrant Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 271 $97,625,000 $360,240

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    271 $97,625,000 $360,240

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $17,685,000 $346,765 $4,646 3.05%
    40-60% 96 $32,860,000 $342,292 $4,362 2.94%
    60-80% 92 $35,230,000 $382,935 $5,303 2.91%
    80-100% 28 $11,000,000 $392,857 $5,404 2.92%
    Under 20% 4 $850,000 $212,500 $5,267 2.53%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Closing on a mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Struggling to pay mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Trouble during payment process 1 25.0%