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. Their top markets by origination volume include: Scranton, New York, Bloomsburg, Sayre, and Williamsport among others. We have data for 10 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 a below 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 2.83% | 11/30/23 |
| 30 Year Conventional Purchase | 6.65% | 11/30/23 |
| 30 Year Conventional Refi | 6.62% | 11/30/23 |
| 15 Year Conventional Purchase | 6.27% | 11/30/23 |
| 15 Year Conventional Refi | 5.93% | 11/30/23 |
| 15 Year Cash-out Refi | 5.93% | 11/30/23 |
| 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. | ||
The Honesdale National Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
660Origination Dollar Volume (All Markets)
$107,300,000Awards
The Honesdale National Bank - 2022
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For 2022, 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
4.87%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
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 $4,814.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 336 | $48,680,000 | $144,881 | $3,635 | 4.22% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 244 | $35,250,000 | $144,467 | $3,387 | 4.64% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 58 | $12,910,000 | $222,586 | $5,708 | 4.16% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 2 | $3,720,000 | $1,860,000 | $4,015 | 4.00% |
| Sayre, PA (FHA|USDA|VA) | 1 | $1,855,000 | $1,855,000 | $0 | 4.50% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $1,845,000 | $1,845,000 | $0 | 5.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 9 | $1,715,000 | $190,556 | $0 | 5.16% |
| BINGHAMTON, NY (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $7,407 | 4.52% |
| Corning, NY (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 5.17% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 5.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 414 | $84,840,000 | $204,928 | $3,802 | 4.83% |
| HELOC | 246 | $22,460,000 | $91,301 | n/a | 3.65% |
For 2022, The Honesdale National Bank's most frequently originated type of loan was Conventional, with 414 originations. Their 2nd most popular type was HELOC, with 246 originations.
Loan Reason
For 2022, The Honesdale National Bank's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Refi, with 179 originations.
Loan Duration/Length
For 2022, The Honesdale National Bank's most frequently cited loan duration was 30+ year, with 273 originations. The 2nd most popular length was 20 Year, with 138 originations.
Origination Fees/Closing Costs
The Honesdale National Bank's average total fees were $4,814, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 145 originations.
Interest Rates
During 2022, The Honesdale National Bank's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 170 originations.
Loan Sizing
2022 saw The Honesdale National Bank place emphasis on $100,000 or less loans with 284 originations, totaling $15,760,000 in origination value.
Applicant Income
The Honesdale National Bank lent most frequently to those with incomes in the $100k-150k range, with 123 originations. The second most popular income band? $50k-75k, with 114 originations.
Applicant Debt to Income Ratio
The Honesdale National Bank lent most frequently to those with DTI ratios of 20-30%, with 121 originations. The next most common DTI ratio? 30-36%, with 100 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.70%
The Honesdale National 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 origination88.94%
The Honesdale National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 660 | $107,300,000 | $162,576 |