Columbia Bank Mortgage Rates, Fees & InfoFair Lawn, NJ
Tax ID: 22-0900560
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewColumbia Bank is a small bank specializing in Home Purchase and Refi loans. Columbia 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: New York, Philadelphia, Ocean City, Trenton, and Atlantic City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)
Columbia 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. Columbia Bank is typically a low 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||3.56%||9/18/23|
|30 Year Conventional Purchase||5.59%||9/18/23|
|30 Year Conventional Refi||4.46%||9/18/23|
|30 Year Cash-out Refi||5.40%||9/18/23|
|30 Year FHA Purchase||7.04%||9/18/23|
|15 Year Conventional Purchase||5.68%||9/18/23|
|15 Year Conventional Refi||5.52%||9/18/23|
|15 Year Cash-out Refi||5.52%||9/18/23|
|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.|
Columbia Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Columbia 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.
Origination Dollar Volume (All Markets)$1,548,180,000
Columbia Bank - 2022
Columbia Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Columbia Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -1.12%.
Relative Fees (Closing Costs)
Columbia Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,973.
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.
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)||2,373||$1,233,735,000||$519,905||$3,804||3.69%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||342||$242,170,000||$708,099||$3,657||3.67%|
|OCEAN CITY, NJ (FHA|USDA|VA)||55||$25,945,000||$471,727||$4,774||4.65%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||43||$24,425,000||$568,023||$4,696||4.51%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||30||$12,650,000||$421,667||$5,196||4.25%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||11||$3,705,000||$336,818||$3,259||4.98%|
|POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA)||6||$1,550,000||$258,333||$4,042||4.04%|
|EAST STROUDSBURG, PA (FHA|USDA|VA)||6||$1,210,000||$201,667||$3,485||4.88%|
|GLENS FALLS, NY (FHA|USDA|VA)||1||$955,000||$955,000||$4,465||6.25%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$655,000||$655,000||$6,592||2.63%|
|Outside of Metro Areas||2||$620,000||$310,000||$2,093||5.25%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||1||$405,000||$405,000||$4,899||4.38%|
|Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)||1||$155,000||$155,000||$0||6.13%|
We use machine learning to identify the top lenders compared against Columbia Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Columbia Bank's most frequently originated type of loan was Conventional, with 2,328 originations. Their 2nd most popular type was HELOC, with 543 originations.
For 2022, Columbia Bank's most frequently cited loan purpose was Home Purchase, with 1,435 originations. The 2nd most popular reason was Refi, with 488 originations.
For 2022, Columbia Bank's most frequently cited loan duration was 30 Year, with 2,267 originations. The 2nd most popular length was 15 Year, with 187 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Columbia Bank's average total fees were $3,973, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,444 originations.
During 2022, Columbia Bank's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 2.5-3%, with 643 originations.
2022 saw Columbia Bank place emphasis on $200k-400k loans with 933 originations, totaling $278,745,000 in origination value.
Columbia Bank lent most frequently to those with incomes in the $150k-250k range, with 739 originations. The second most popular income band? $100k-150k, with 592 originations.
Applicant Debt to Income Ratio
Columbia Bank lent most frequently to those with DTI ratios of 20-30%, with 694 originations. The next most common DTI ratio? 30-36%, with 604 originations.
Approval RatesTotal approvals of all applications
Columbia Bank has an average approval rate.
Pick RateApprovals leading to origination
Columbia Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
Occupancy Type Mix
|Dwelling Type||Originations||Total Value||Average Loan|