Investors Bank Mortgage Rates, Fees & Info
Short Hills, NJLEI: 5493002VB77GOYB9O402
Tax ID: 22-1368780
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Mortgage Data
Review & Overview
Investors Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Investors Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Allentown, Hartford, and Trenton among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Investors 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. Investors 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 |
|---|---|---|
| 30 Year Conventional Purchase | 5.83% | 12/16/24 |
| 30 Year Conventional Refi | 6.16% | 12/16/24 |
| 30 Year Cash-out Refi | 6.43% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.89% | 12/16/24 |
| 15 Year Conventional Refi | 5.87% | 12/16/24 |
| 15 Year Cash-out Refi | 5.87% | 12/16/24 |
| 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. | ||
Investors Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
736Origination Dollar Volume (All Markets)
$642,280,000Awards
Investors Bank - 2022
Investors Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 617 | $425,535,000 | $689,684 | $4,348 | 2.96% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 51 | $138,385,000 | $2,713,431 | $3,294 | 3.18% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 13 | $46,765,000 | $3,597,308 | $2,681 | 2.90% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $11,505,000 | $11,505,000 | $0 | 4.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 36 | $8,130,000 | $225,833 | $2,804 | 2.98% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 5 | $4,665,000 | $933,000 | $6,350 | 2.98% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 5 | $4,065,000 | $813,000 | $5,694 | 2.95% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $7,188 | 2.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $5,148 | 3.50% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,721 | 4.13% |
| READING, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,793 | 3.13% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,848 | 3.38% |
| OCALA, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,580 | 3.13% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,659 | 3.25% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,239 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Investors Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 24
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 649 | $621,515,000 | $957,650 | $4,215 | 2.97% |
| HELOC | 87 | $20,765,000 | $238,678 | n/a | 3.07% |
For 2022, Investors Bank's most frequently originated type of loan was Conventional, with 649 originations. Their 2nd most popular type was HELOC, with 87 originations.
Loan Reason
For 2022, Investors Bank's most frequently cited loan purpose was Home Purchase, with 263 originations. The 2nd most popular reason was Cash Out Refi, with 176 originations.
Loan Duration/Length
For 2022, Investors Bank's most frequently cited loan duration was 30 Year, with 453 originations. The 2nd most popular length was Other, with 129 originations.
Origination Fees/Closing Costs
Investors Bank's average total fees were $4,557, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 421 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 295 | $443,865,000 | $1,504,627 |
| 2.5-3% | 293 | $169,945,000 | $580,017 |
| <2.5% | 134 | $24,330,000 | $181,567 |
| 4-5% | 14 | $4,140,000 | $295,714 |
During 2022, Investors Bank's average interest rate for loans was 2.93%, while their most frequently originated rate bucket for loans was 3-4%, with 295 originations.
Loan Sizing
2022 saw Investors Bank place emphasis on $200k-400k loans with 182 originations, totaling $52,170,000 in origination value.
Applicant Income
Investors Bank lent most frequently to those with incomes in the $250k+ range, with 188 originations. The second most popular income band? $100k-150k, with 156 originations.
Applicant Debt to Income Ratio
Investors Bank lent most frequently to those with DTI ratios of 20-30%, with 183 originations. The next most common DTI ratio? 30-36%, with 163 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.82%
Investors Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.40%
Investors Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 736 | $642,280,000 | $872,663 |