Syracuse Securities Mortgage Rates, Fees & Info

East Syracuse, NY

LEI: 54930075J06TVV0VZ870

Tax ID: 15-6019325

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
  • Similar Lenders
  • 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

    Syracuse Securities is a smaller mortgage company specializing in Home Purchase loans. Syracuse Securities has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Syracuse, Buffalo, Utica, Auburn, and New York among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Syracuse Securities has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Syracuse Securities 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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    Originations

    272

    Origination Dollar Volume (All Markets)

    $45,350,000

    Awards

    Syracuse Securities FHA Loans bronze
    Show all (1) awards

    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
    SYRACUSE, NY (FHA|USDA|VA) 184 $28,650,000 $155,707 $4,532 4.35%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 50 $10,290,000 $205,800 $3,540 4.17%
    UTICA-ROME, NY (FHA|USDA|VA) 12 $1,830,000 $152,500 $4,345 4.61%
    Auburn, NY (FHA|USDA|VA) 6 $1,090,000 $181,667 $4,994 4.40%
    Outside of Metro Areas 6 $890,000 $148,333 $4,178 4.13%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $625,000 $625,000 $6,301 5.25%
    Olean, NY (FHA|USDA|VA) 2 $470,000 $235,000 $6,213 4.31%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $380,000 $190,000 $3,406 4.31%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 2 $330,000 $165,000 $3,397 4.31%
    ROCHESTER, NY (FHA|USDA|VA) 2 $320,000 $160,000 $6,204 4.50%
    Cortland, NY (FHA|USDA|VA) 2 $170,000 $85,000 $3,743 4.81%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $125,000 $125,000 $2,952 4.00%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $105,000 $105,000 $3,588 4.25%
    Seneca Falls, NY (FHA|USDA|VA) 1 $75,000 $75,000 $4,298 4.25%
    Syracuse Securities's top markets include Syracuse, Buffalo, Utica, Auburn, and New York among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Syracuse Securities based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NIAGARA'S CHOICE
    Similarity Rank: 12
    SECNY Federal Credit Union
    Similarity Rank: 32
    BUFFALO METROPOLITAN FEDERAL CREDIT UNION
    Similarity Rank: 50
    Adirondack Bank
    Similarity Rank: 63
    ONTARIO SHORES
    Similarity Rank: 90
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 102
    Geddes Federal Savings and Loan Association
    Similarity Rank: 108
    Bank of Akron
    Similarity Rank: 144
    Moog Employees Federal Credit Union
    Similarity Rank: 153
    Pathfinder Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 168 $30,850,000 $183,631 $3,504 4.24%
    FHA 85 $11,285,000 $132,765 $5,678 4.47%
    VA 17 $3,025,000 $177,941 $5,865 4.50%
    USDA 2 $190,000 $95,000 $5,097 4.00%

    For 2019, Syracuse Securities's most frequently originated type of loan was Conventional, with 168 originations. Their 2nd most popular type was FHA, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 231 $37,455,000 $162,143 $4,429 4.36%
    Refi 38 $7,490,000 $197,105 $3,835 4.08%
    Home Improvement 2 $310,000 $155,000 $4,214 4.75%
    Cash Out Refi 1 $95,000 $95,000 $3,994 5.88%

    For 2019, Syracuse Securities's most frequently cited loan purpose was Home Purchase, with 231 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 240 $39,130,000 $163,042 $4,431 4.42%
    15 Year 23 $4,445,000 $193,261 $3,826 3.46%
    20 Year 9 $1,775,000 $197,222 $3,308 4.15%

    For 2019, Syracuse Securities's most frequently cited loan duration was 30 Year, with 240 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 157 $23,695,000 $150,924
    $<1k 93 $16,175,000 $173,925
    $2k-3k 16 $3,590,000 $224,375
    $3k-4k 3 $1,235,000 $411,667
    $4k-5k 3 $655,000 $218,333

    Syracuse Securities's average total fees were $4,431, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 136 $21,520,000 $158,235
    3-4% 100 $19,160,000 $191,600
    5-6% 30 $3,570,000 $119,000
    2.5-3% 4 $980,000 $245,000
    6-7% 2 $120,000 $60,000

    During 2019, Syracuse Securities's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 140 $20,620,000 $147,286 $4,480 4.26%
    $100,000 or less 65 $5,035,000 $77,462 $3,841 4.70%
    $200k-400k 59 $15,905,000 $269,576 $4,568 4.11%
    $400k-600k 7 $3,165,000 $452,143 $4,062 4.00%
    $600k-1MM 1 $625,000 $625,000 $6,301 5.25%

    2019 saw Syracuse Securities place emphasis on $100k-200k loans with 140 originations, totaling $20,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 76 $10,180,000 $133,947 $4,319 4.32%
    $75k-100k 57 $9,385,000 $164,649 $4,655 4.26%
    $100k-150k 55 $10,385,000 $188,818 $4,345 4.42%
    $50k or less 46 $4,440,000 $96,522 $4,030 4.40%
    $150k-250k 27 $7,755,000 $287,222 $4,516 4.30%
    $250k+ 11 $3,205,000 $291,364 $3,759 4.06%

    Syracuse Securities lent most frequently to those with incomes in the $50k-75k range, with 76 originations. The second most popular income band? $75k-100k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $10,550,000 $170,161 $4,280 4.28%
    30-36% 61 $9,205,000 $150,902 $3,939 4.28%
    50-60% 18 $2,840,000 $157,778 $5,710 4.49%
    41% 17 $3,175,000 $186,765 $4,117 4.37%
    <20% 14 $2,300,000 $164,286 $3,305 4.29%
    40% 11 $1,695,000 $154,091 $4,948 4.49%
    38% 11 $2,725,000 $247,727 $4,472 4.35%
    44% 10 $2,080,000 $208,000 $4,508 4.56%
    42% 10 $1,410,000 $141,000 $4,730 4.31%
    37% 9 $1,195,000 $132,778 $3,939 4.24%
    39% 7 $1,225,000 $175,000 $4,345 3.89%
    36% 7 $1,305,000 $186,429 $3,878 4.54%
    47% 7 $1,295,000 $185,000 $4,792 4.50%
    48% 7 $1,205,000 $172,143 $4,588 4.27%
    43% 6 $1,010,000 $168,333 $4,526 4.33%
    49% 5 $595,000 $119,000 $4,959 4.28%
    45% 5 $815,000 $163,000 $4,821 4.40%
    46% 5 $725,000 $145,000 $5,156 4.20%

    Syracuse Securities lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 245 $41,515,000 $169,449 $4,380 4.29%
    Asian 14 $2,690,000 $192,143 $3,837 4.30%
    Black 8 $760,000 $95,000 $4,797 5.13%
    American Indian 2 $160,000 $80,000 $3,020 4.88%
    Not provided 1 $145,000 $145,000 $3,716 4.88%
    Asian Indian 2 $80,000 $40,000 $3,131 5.13%

    Approval Rates

    Total approvals of all applications
    97.76%

    Syracuse Securities has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.07%

    Syracuse Securities has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 272 $45,350,000 $166,728

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $250,000 $125,000
    Single Family (1-4 Units):Site-Built 270 $45,100,000 $167,037

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $200,000 $100,000 $3,171 3.38%
    40-60% 14 $2,340,000 $167,143 $4,035 3.93%
    60-80% 55 $9,845,000 $179,000 $3,315 4.34%
    80-100% 199 $32,795,000 $164,799 $4,672 4.36%
    Over 100% 1 $125,000 $125,000 $3,304 4.25%
    Under 20% 1 $45,000 $45,000 $3,050 3.63%