The Honesdale National Bank Mortgage Rates, Fees & Info

Honesdale, PA

LEI: 549300458LCI17J5BY03

Tax ID: 24-0614415

5 stars - Updated: 3/28/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

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
Home Equity Line of Credit (HELOC) 2.83% 3/28/24
30 Year Conventional Purchase 6.65% 3/28/24
30 Year Conventional Refi 6.62% 3/28/24
15 Year Conventional Purchase 6.27% 3/28/24
15 Year Conventional Refi 5.93% 3/28/24
15 Year Cash-out Refi 5.93% 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.

The Honesdale National Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Honesdale National 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

498

Origination Dollar Volume (All Markets)

$80,360,000

Awards

The Honesdale National Bank 30 Year Conventional Loans gold The Honesdale National Bank 30 Year Conventional Loans bronze
Show all (2) awards

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%
The Honesdale National Bank's top markets include Scranton, New York, East Stroudsburg, Bloomsburg, and Corning among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • 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.

    N C P D Federal Credit Union
    Similarity Rank: 126
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    Similarity Rank: 156
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 163 $42,095,000 $258,252 $5,374 7.20%
    Other 148 $12,820,000 $86,622 $241 8.16%
    Refi 119 $17,085,000 $143,571 $1,796 7.73%
    Home Improvement 68 $8,360,000 $122,941 $1,506 8.05%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $19,805,000 $105,909 $1,454 8.43%
    20 Year 122 $19,990,000 $163,852 $742 7.76%
    30 Year 96 $24,100,000 $251,042 $5,382 6.59%
    30+ year 35 $7,765,000 $221,857 $8,306 7.58%
    15 Year 30 $3,130,000 $104,333 $679 7.23%
    10 Year 18 $2,810,000 $156,111 $300 7.65%
    5 Year 9 $2,705,000 $300,556 $253 7.36%
    1 Year 1 $55,000 $55,000 $0 7.50%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 153 $23,885,000 $156,111
    $1k-2k 20 $3,130,000 $156,500
    $2k-3k 10 $1,880,000 $188,000
    $4k-5k 10 $4,080,000 $408,000
    $3k-4k 6 $1,610,000 $268,333
    $5k+ 5 $2,825,000 $565,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 213 $12,185,000 $57,207 $660 7.93%
    $100k-200k 156 $21,650,000 $138,782 $3,257 7.80%
    $200k-400k 98 $25,710,000 $262,347 $5,589 7.40%
    $400k-600k 16 $7,460,000 $466,250 $6,884 6.97%
    $600k-1MM 10 $6,660,000 $666,000 $10,466 6.89%
    $1MM+ 5 $6,695,000 $1,339,000 $14,760 7.60%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 103 $13,825,000 $134,223 $3,371 7.69%
    $75k-100k 75 $7,945,000 $105,933 $2,640 7.75%
    $50k-75k 73 $6,715,000 $91,986 $2,034 7.55%
    $150k-250k 69 $13,235,000 $191,812 $4,666 7.64%
    $250k+ 50 $15,590,000 $311,800 $6,188 7.54%
    $50k or less 41 $3,015,000 $73,537 $1,374 7.59%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $13,895,000 $156,124 $3,653 7.51%
    30-36% 78 $11,670,000 $149,615 $4,809 7.79%
    41% 29 $3,965,000 $136,724 $2,427 7.69%
    <20% 26 $4,060,000 $156,154 $3,332 7.31%
    42% 24 $3,610,000 $150,417 $3,683 7.94%
    39% 21 $2,565,000 $122,143 $2,099 7.64%
    37% 20 $2,350,000 $117,500 $2,622 7.69%
    43% 19 $2,385,000 $125,526 $4,100 7.87%
    36% 18 $2,190,000 $121,667 $2,806 7.68%
    40% 17 $1,575,000 $92,647 $1,469 7.59%
    38% 15 $2,165,000 $144,333 $3,387 7.03%
    45% 9 $1,465,000 $162,778 $3,075 7.17%
    46% 9 $995,000 $110,556 $2,431 7.78%
    >60% 3 $355,000 $118,333 $2,556 7.83%
    47% 3 $235,000 $78,333 $0 8.00%
    48% 3 $325,000 $108,333 $1,312 7.58%
    50-60% 3 $2,265,000 $755,000 $3,023 7.25%
    44% 3 $495,000 $165,000 $10,132 7.92%
    49% 2 $230,000 $115,000 $0 8.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $58,755,000 $144,361 $3,315 7.68%
    Not applicable 70 $18,320,000 $261,714 $0 8.12%
    Not provided 16 $2,410,000 $150,625 $2,777 7.38%
    Black 2 $350,000 $175,000 $4,223 6.63%
    Other Asian 1 $255,000 $255,000 $2,775 6.75%
    Asian Indian 1 $165,000 $165,000 $0 9.50%
    Asian 1 $105,000 $105,000 $0 9.00%

    Approval Rates

    Total approvals of all applications
    93.30%

    The Honesdale National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.16%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    498 $80,360,000 $161,365

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 148 $14,950,000 $101,014 $1,219 8.12%
    40-60% 58 $10,230,000 $176,379 $2,263 7.73%
    60-80% 128 $35,720,000 $279,063 $5,837 7.40%
    80-100% 56 $12,610,000 $225,179 $4,680 7.07%
    Over 100% 1 $605,000 $605,000 $5,820 6.50%
    Under 20% 106 $6,070,000 $57,264 $396 7.95%