Ion Bank Mortgage Rates, Fees & Info

Naugatuck, CT

LEI: 5493004D0Z2WQR26VL57

Tax ID: 06-0465530

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Ion Bank is a smaller bank specializing in Home Purchase loans. Ion Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New Haven, Hartford, New York, and Torrington among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ion 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.

    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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    Originations

    426

    Origination Dollar Volume (All Markets)

    $193,320,000

    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
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 50 $94,430,000 $1,888,600 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 191 $51,195,000 $268,037 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 132 $35,910,000 $272,045 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 18 $5,320,000 $295,556 $0 0.00%
    Torrington, CT (FHA|USDA|VA) 27 $4,685,000 $173,519 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 7 $1,525,000 $217,857 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Ion Bank's top markets include Bridgeport, New Haven, Hartford, New York, and Torrington among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 426 $193,320,000 $453,803 $0 0.00%

    For 2023, Ion Bank's most frequently originated type of loan was Conventional, with 426 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 198 $143,400,000 $724,242 $0 0.00%
    Home Improvement 89 $22,155,000 $248,933 $0 0.00%
    Other 62 $3,950,000 $63,710 $0 0.00%
    Cash Out Refi 46 $8,360,000 $181,739 $0 0.00%
    Refi 31 $15,455,000 $498,548 $0 0.00%

    For 2023, Ion Bank's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Home Improvement, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 426 $193,320,000 $453,803 $0 0.00%

    For 2023, Ion Bank's most frequently cited loan duration was Other, with 426 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 173 $8,595,000 $49,682 $0 0.00%
    $200k-400k 82 $23,480,000 $286,341 $0 0.00%
    $100k-200k 72 $10,100,000 $140,278 $0 0.00%
    $400k-600k 47 $22,615,000 $481,170 $0 0.00%
    $600k-1MM 33 $24,025,000 $728,030 $0 0.00%
    $1MM+ 19 $104,505,000 $5,500,263 $0 0.00%

    2023 saw Ion Bank place emphasis on $100,000 or less loans with 173 originations, totaling $8,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 97 $14,865,000 $153,247 $0 0.00%
    $150k-250k 95 $26,115,000 $274,895 $0 0.00%
    $250k+ 85 $40,375,000 $475,000 $0 0.00%
    $75k-100k 50 $6,250,000 $125,000 $0 0.00%
    $50k-75k 43 $4,045,000 $94,070 $0 0.00%
    $50k or less 23 $1,785,000 $77,609 $0 0.00%

    Ion Bank lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $150k-250k, with 95 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 426 $193,320,000 $453,803 $0 0.00%

    Ion Bank lent most frequently to those with DTI ratios of Exempt%, with 426 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $99,140,000 $4,130,833 $0 0.00%
    White 330 $70,550,000 $213,788 $0 0.00%
    Not provided 42 $14,590,000 $347,381 $0 0.00%
    Asian 22 $7,080,000 $321,818 $0 0.00%
    Black 8 $1,960,000 $245,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.09%

    Ion Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.79%

    Ion Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 426 $193,320,000 $453,803

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    426 $193,320,000 $453,803