Provident Bank Mortgage Rates, Fees & Info
Jersey City, NJLEI: 5493004NH61PL6YYNH25
Tax ID: 22-1211130
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Mortgage Data
Review & Overview
Provident Bank is a smaller bank specializing in Refi and Home Purchase loans. Provident Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Allentown, Scranton, and Austin among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Provident 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. Provident 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 |
|---|---|---|
| 30 Year Conventional Purchase | 5.33% | 12/16/24 |
| 30 Year Conventional Refi | 6.20% | 12/16/24 |
| 30 Year Cash-out Refi | 5.53% | 12/16/24 |
| 15 Year Conventional Purchase | 5.54% | 12/16/24 |
| 15 Year Conventional Refi | 5.77% | 12/16/24 |
| 15 Year Cash-out Refi | 5.77% | 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. | ||
Provident Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Provident 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
1,114Origination Dollar Volume (All Markets)
$450,920,000Awards
Provident Bank - 2022
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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) | 1,023 | $373,865,000 | $365,459 | $2,556 | 4.14% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 37 | $50,275,000 | $1,358,784 | $3,760 | 4.41% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 21 | $4,785,000 | $227,857 | $2,380 | 4.43% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $3,255,000 | $3,255,000 | $0 | 4.70% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $3,105,000 | $3,105,000 | $0 | 3.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 13 | $2,715,000 | $208,846 | $3,302 | 3.87% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $2,665,000 | $2,665,000 | $15,728 | 3.25% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $2,325,000 | $2,325,000 | $0 | 3.92% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $2,195,000 | $2,195,000 | $0 | 5.61% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $2,035,000 | $678,333 | $6,635 | 5.58% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $5,685 | 3.50% |
| Barre, VT (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $5,615 | 2.75% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 5.19% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 4.81% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 6.21% |
| Outside of Metro Areas | 2 | $250,000 | $125,000 | $4,638 | 3.50% |
| READING, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.13% |
| ERIE, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against Provident Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 737 | $384,415,000 | $521,594 | $2,641 | 4.25% |
| HELOC | 377 | $66,505,000 | $176,406 | n/a | 3.97% |
For 2022, Provident Bank's most frequently originated type of loan was Conventional, with 737 originations. Their 2nd most popular type was HELOC, with 377 originations.
Loan Reason
For 2022, Provident Bank's most frequently cited loan purpose was Refi, with 356 originations. The 2nd most popular reason was Other, with 326 originations.
Loan Duration/Length
For 2022, Provident Bank's most frequently cited loan duration was Other, with 599 originations. The 2nd most popular length was 30 Year, with 144 originations.
Origination Fees/Closing Costs
Provident Bank's average total fees were $5,209, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 471 originations.
Interest Rates
During 2022, Provident Bank's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 455 originations.
Loan Sizing
2022 saw Provident Bank place emphasis on $100,000 or less loans with 335 originations, totaling $17,575,000 in origination value.
Applicant Income
Provident Bank lent most frequently to those with incomes in the $150k-250k range, with 273 originations. The second most popular income band? $100k-150k, with 231 originations.
Applicant Debt to Income Ratio
Provident Bank lent most frequently to those with DTI ratios of 20-30%, with 224 originations. The next most common DTI ratio? 30-36%, with 200 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.86%
Provident Bank has a below average approval rate.
Pick Rate
Approvals leading to origination80.34%
Provident Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,114 | $450,920,000 | $404,776 |