Columbia Bank Mortgage Rates, Fees & Info

Fair Lawn, NJ

LEI: 5493005LKFCLR81TSN28

Tax ID: 22-0900560

5 stars - Updated: 7/12/24 - out of 5 stars, based on 34 reviews

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

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Mortgage Data

Review & Overview

Columbia Bank is a smaller bank specializing in Home Purchase, Refi, and Home Improvement 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, Atlantic City, Trenton, and Allentown 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 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 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) 3.56% 7/12/24
30 Year Conventional Purchase 5.59% 7/12/24
30 Year Conventional Refi 4.46% 7/12/24
30 Year Cash-out Refi 5.40% 7/12/24
30 Year FHA Purchase 7.04% 7/12/24
15 Year Conventional Purchase 5.68% 7/12/24
15 Year Conventional Refi 5.52% 7/12/24
15 Year Cash-out Refi 5.52% 7/12/24
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.

Columbia Bank Mortgage Calculator






Your Estimates

Estimated 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.


Originations

1,152

Origination Dollar Volume (All Markets)

$670,570,000
Show all (5) awards

Relative Rate

Columbia Bank's average 30 year fixed mortgage rate was 5.66%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.82%.

Relative Fees (Closing Costs)

Columbia Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,572.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 957 $512,945,000 $535,993 $2,543 5.93%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 160 $144,950,000 $905,938 $2,135 6.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 9 $2,535,000 $281,667 $5,019 6.21%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 6 $2,280,000 $380,000 $4,747 6.79%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $1,970,000 $246,250 $3,605 7.08%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $1,755,000 $1,755,000 $10,776 6.63%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,325,000 $441,667 $5,274 6.50%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,913 6.04%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $855,000 $855,000 $7,381 6.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,973 6.88%
READING, PA (FHA|USDA|VA) 1 $165,000 $165,000 $3,867 6.38%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $4,052 6.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,674 5.88%
Columbia Bank's top markets include New York, Philadelphia, Atlantic City, Trenton, and Allentown among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 779 $605,915,000 $777,811 $2,578 5.95%
    HELOC 372 $64,190,000 $172,554 n/a 5.99%
    FHA 1 $465,000 $465,000 $13,722 6.63%

    For 2023, Columbia Bank's most frequently originated type of loan was Conventional, with 779 originations. Their 2nd most popular type was HELOC, with 372 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 467 $257,235,000 $550,824 $3,678 5.50%
    Other 288 $34,530,000 $119,896 $0 6.28%
    Refi 197 $143,635,000 $729,112 $651 6.18%
    Home Improvement 174 $226,120,000 $1,299,540 $4,808 6.43%
    Cash Out Refi 26 $9,050,000 $348,077 $2,388 6.05%

    For 2023, Columbia Bank's most frequently cited loan purpose was Home Purchase, with 467 originations. The 2nd most popular reason was Other, with 288 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 841 $263,945,000 $313,847 $3,572 5.66%
    10 Year 82 $34,640,000 $422,439 $127 6.38%
    20 Year 80 $10,880,000 $136,000 $129 6.93%
    15 Year 62 $8,010,000 $129,194 $547 6.47%
    5 Year 37 $80,725,000 $2,181,757 $0 6.22%
    Other 31 $239,575,000 $7,728,226 $0 8.53%
    30+ year 15 $13,335,000 $889,000 $7,402 6.68%
    3 Year 3 $19,155,000 $6,385,000 $0 7.83%
    1 Year 1 $305,000 $305,000 $0 9.00%

    For 2023, Columbia Bank's most frequently cited loan duration was 30 Year, with 841 originations. The 2nd most popular length was 10 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 554 $170,550,000 $307,852
    $1k-2k 113 $51,315,000 $454,115
    $3k-4k 14 $6,660,000 $475,714
    $5k+ 14 $8,710,000 $622,143
    $2k-3k 12 $3,990,000 $332,500
    $4k-5k 7 $3,195,000 $456,429

    Columbia Bank's average total fees were $3,572, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 554 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 360 $98,480,000 $273,556
    5-6% 323 $178,185,000 $551,656
    4-5% 225 $78,035,000 $346,822
    7-8% 138 $107,250,000 $777,174
    3-4% 71 $30,735,000 $432,887
    Over 8% 35 $177,885,000 $5,082,429

    During 2023, Columbia Bank's average interest rate for loans was 5.66%, while their most frequently originated rate bucket for loans was 6-7%, with 360 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 281 $82,625,000 $294,039 $2,959 5.90%
    $100,000 or less 275 $15,325,000 $55,727 $73 6.26%
    $400k-600k 236 $114,870,000 $486,737 $3,648 5.36%
    $100k-200k 231 $30,515,000 $132,100 $1,248 6.07%
    $1MM+ 65 $382,535,000 $5,885,154 $8,308 7.02%
    $600k-1MM 64 $44,700,000 $698,438 $4,519 5.69%

    2023 saw Columbia Bank place emphasis on $200k-400k loans with 281 originations, totaling $82,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 293 $75,135,000 $256,433 $2,912 6.07%
    $100k-150k 289 $82,435,000 $285,242 $2,351 5.76%
    $250k+ 186 $81,670,000 $439,086 $4,863 6.21%
    $75k-100k 161 $39,205,000 $243,509 $2,012 5.56%
    $50k-75k 108 $17,560,000 $162,593 $1,595 5.59%
    $50k or less 27 $2,445,000 $90,556 $1,323 5.66%

    Columbia Bank lent most frequently to those with incomes in the $150k-250k range, with 293 originations. The second most popular income band? $100k-150k, with 289 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 196 $55,630,000 $283,827 $2,871 5.89%
    20-30% 190 $51,100,000 $268,947 $3,268 5.99%
    42% 178 $35,510,000 $199,494 $1,355 6.05%
    40% 78 $23,530,000 $301,667 $2,392 5.86%
    41% 70 $19,090,000 $272,714 $1,775 5.79%
    39% 52 $11,970,000 $230,192 $2,006 5.83%
    37% 49 $13,805,000 $281,735 $3,318 5.87%
    43% 47 $20,415,000 $434,362 $3,200 5.47%
    36% 43 $11,245,000 $261,512 $2,699 6.03%
    38% 41 $11,655,000 $284,268 $2,493 5.80%
    <20% 37 $13,395,000 $362,027 $3,498 6.27%
    44% 37 $13,345,000 $360,676 $2,453 5.29%
    45% 30 $10,170,000 $339,000 $2,247 5.44%
    46% 10 $3,830,000 $383,000 $2,492 5.62%
    >60% 7 $745,000 $106,429 $747 6.23%
    47% 5 $2,305,000 $461,000 $4,868 5.43%
    49% 5 $1,675,000 $335,000 $1,262 5.62%
    50-60% 5 $1,865,000 $373,000 $3,155 4.85%
    48% 4 $1,820,000 $455,000 $4,898 5.59%

    Columbia Bank lent most frequently to those with DTI ratios of 30-36%, with 196 originations. The next most common DTI ratio? 20-30%, with 190 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 66 $366,710,000 $5,556,212 $0 7.32%
    White 743 $186,075,000 $250,437 $2,636 6.03%
    Not provided 167 $57,695,000 $345,479 $2,605 5.72%
    Black 94 $33,500,000 $356,383 $1,971 5.05%
    Asian 49 $13,515,000 $275,816 $2,494 5.85%
    Asian Indian 15 $8,355,000 $557,000 $5,404 5.57%
    American Indian 14 $3,640,000 $260,000 $2,103 5.79%
    Other Asian 2 $780,000 $390,000 $4,776 6.31%
    Other Pacific Islander 1 $195,000 $195,000 $4,619 6.75%
    1 $105,000 $105,000 $0 6.74%

    Approval Rates

    Total approvals of all applications
    86.85%

    Columbia Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    53.82%

    Columbia Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,152 $670,570,000 $582,092

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,152 $670,570,000 $582,092

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 200 $39,520,000 $197,600 $681 6.18%
    40-60% 108 $128,770,000 $1,192,315 $2,807 6.30%
    60-80% 198 $332,050,000 $1,677,020 $4,469 6.37%
    80-100% 307 $139,315,000 $453,795 $3,345 5.09%
    Over 100% 1 $5,005,000 $5,005,000 $0 9.00%
    Under 20% 338 $25,910,000 $76,657 $38 6.27%