The Honesdale National Bank Mortgage Rates, Fees & Info
Honesdale, PALEI: 549300458LCI17J5BY03
Tax ID: 24-0614415
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Mortgage Data
Review & Overview
The Honesdale National Bank is a smaller bank specializing in Home Purchase and Refi loans. The Honesdale National 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: Scranton, New York, East Stroudsburg, Bloomsburg, and Corning among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)The Honesdale National 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. The Honesdale National Bank 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 2.83% | 11/17/24 |
| 30 Year Conventional Purchase | 6.65% | 11/17/24 |
| 30 Year Conventional Refi | 6.62% | 11/17/24 |
| 15 Year Conventional Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Refi | 5.93% | 11/17/24 |
| 15 Year Cash-out Refi | 5.93% | 11/17/24 |
| 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. | ||
The Honesdale National Bank Mortgage Calculator
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This is not an official calculator from The Honesdale National Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
498Origination Dollar Volume (All Markets)
$80,360,000Awards
The Honesdale National Bank - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
The Honesdale National Bank's average 30 year fixed mortgage rate was
6.59%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.11%.
Relative Fees (Closing Costs)
The Honesdale National Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,382.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 229 | $34,415,000 | $150,284 | $3,278 | 7.68% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 184 | $27,480,000 | $149,348 | $3,277 | 7.87% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 71 | $15,465,000 | $217,817 | $3,430 | 7.46% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 10 | $1,820,000 | $182,000 | $2,561 | 8.18% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 8.50% |
| Corning, NY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 8.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 7.25% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Honesdale National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 114
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 292 | $58,910,000 | $201,747 | $3,276 | 7.26% |
| HELOC | 205 | $21,265,000 | $103,732 | n/a | 8.40% |
| FHA | 1 | $185,000 | $185,000 | $7,208 | 6.50% |
For 2023, The Honesdale National Bank's most frequently originated type of loan was Conventional, with 292 originations. Their 2nd most popular type was HELOC, with 205 originations.
Loan Reason
For 2023, The Honesdale National Bank's most frequently cited loan purpose was Home Purchase, with 163 originations. The 2nd most popular reason was Other, with 148 originations.
Loan Duration/Length
For 2023, The Honesdale National Bank's most frequently cited loan duration was Other, with 187 originations. The 2nd most popular length was 20 Year, with 122 originations.
Origination Fees/Closing Costs
The Honesdale National Bank's average total fees were $5,382, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 153 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 207 | $27,875,000 | $134,662 |
| 7-8% | 138 | $19,540,000 | $141,594 |
| 6-7% | 134 | $29,750,000 | $222,015 |
| 5-6% | 19 | $3,195,000 | $168,158 |
During 2023, The Honesdale National Bank's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was Over 8%, with 207 originations.
Loan Sizing
2023 saw The Honesdale National Bank place emphasis on $100,000 or less loans with 213 originations, totaling $12,185,000 in origination value.
Applicant Income
The Honesdale National Bank lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $75k-100k, with 75 originations.
Applicant Debt to Income Ratio
The Honesdale National Bank lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.30%
The Honesdale National Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.16%
The Honesdale National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 498 | $80,360,000 | $161,365 |