Ulster Savings Bank Mortgage Rates, Fees & Info

Kingston, NY

LEI: 5493008GTOZI3HQKE634

Tax ID: 14-1136850

5 stars - Updated: 12/16/24 - out of 5 stars, based on 23 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Ulster Savings Bank is a smaller bank specializing in Home Purchase loans. Ulster Savings 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: Kingston, Poughkeepsie, New York, Hudson, and Albany among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ulster Savings 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. Ulster Savings 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 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
    30 Year Conventional Purchase 6.47% 12/16/24
    30 Year Conventional Refi 6.40% 12/16/24
    30 Year Cash-out Refi 6.53% 12/16/24
    30 Year FHA Purchase 7.65% 12/16/24
    30 Year FHA Refi 7.49% 12/16/24
    30 Year VA Purchase 6.69% 12/16/24
    30 Year USDA Purchase 6.39% 12/16/24
    15 Year Conventional Purchase 6.18% 12/16/24
    15 Year Conventional Refi 6.08% 12/16/24
    15 Year Cash-out Refi 6.08% 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.

    Ulster Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Ulster Savings 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

    507

    Origination Dollar Volume (All Markets)

    $155,545,000

    Awards

    Ulster Savings Bank 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Ulster Savings Bank's average 30 year fixed mortgage rate was 6.55%.

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

    This yields a difference of 0.07%.

    Relative Fees (Closing Costs)

    Ulster Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,324.

    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
    KINGSTON, NY (FHA|USDA|VA) 285 $72,325,000 $253,772 $2,937 6.81%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 119 $33,605,000 $282,395 $2,885 6.70%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 21 $21,575,000 $1,027,381 $5,915 6.63%
    Outside of Metro Areas 61 $16,455,000 $269,754 $4,461 6.76%
    Hudson, NY (FHA|USDA|VA) 13 $8,965,000 $689,615 $4,936 6.70%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 7 $2,385,000 $340,714 $4,518 6.68%
    Oneonta, NY (FHA|USDA|VA) 1 $235,000 $235,000 $6,262 7.38%
    Ulster Savings Bank's top markets include Kingston, Poughkeepsie, New York, Hudson, and Albany among others.

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

    • Similar Lenders

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

    Walden Savings Bank
    Similarity Rank: 40
    GREYLOCK
    Similarity Rank: 80
    The Bank of Greene County
    Similarity Rank: 96
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    The First National Bank of Long Island
    Similarity Rank: 158
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 209

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 504 $154,780,000 $307,103 $3,287 6.77%
    FHA 3 $765,000 $255,000 $7,058 7.00%

    For 2023, Ulster Savings Bank's most frequently originated type of loan was Conventional, with 504 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 283 $115,235,000 $407,191 $5,297 6.53%
    Home Improvement 80 $6,930,000 $86,625 $170 7.15%
    Other 78 $7,380,000 $94,615 $426 7.14%
    Cash Out Refi 52 $24,130,000 $464,038 $2,824 6.86%
    Refi 14 $1,870,000 $133,571 $1,773 6.95%

    For 2023, Ulster Savings Bank's most frequently cited loan purpose was Home Purchase, with 283 originations. The 2nd most popular reason was Home Improvement, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 288 $109,170,000 $379,063 $5,324 6.55%
    15 Year 107 $12,665,000 $118,364 $530 7.13%
    10 Year 42 $2,500,000 $59,524 $80 6.99%
    20 Year 24 $3,170,000 $132,083 $622 7.65%
    5 Year 24 $8,270,000 $344,583 $9 6.62%
    Other 17 $17,515,000 $1,030,294 $0 6.65%
    30+ year 5 $2,255,000 $451,000 $7,886 6.63%

    For 2023, Ulster Savings Bank's most frequently cited loan duration was 30 Year, with 288 originations. The 2nd most popular length was 15 Year, with 107 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $13,630,000 $74,076
    $1k-2k 135 $48,185,000 $356,926
    $5k+ 56 $28,940,000 $516,786
    $2k-3k 37 $11,405,000 $308,243
    $3k-4k 35 $13,345,000 $381,286
    $4k-5k 26 $9,800,000 $376,923

    Ulster Savings Bank's average total fees were $5,324, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 278 $87,210,000 $313,705
    7-8% 169 $34,475,000 $203,994
    5-6% 43 $20,045,000 $466,163
    Over 8% 8 $7,770,000 $971,250
    <2.5% 4 $910,000 $227,500
    3-4% 2 $1,310,000 $655,000
    4-5% 1 $315,000 $315,000
    2.5-3% 1 $105,000 $105,000

    During 2023, Ulster Savings Bank's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 6-7%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 172 $49,010,000 $284,942 $4,229 6.59%
    $100,000 or less 146 $6,600,000 $45,205 $213 7.07%
    $100k-200k 84 $12,160,000 $144,762 $1,981 6.70%
    $400k-600k 63 $29,735,000 $471,984 $6,579 6.65%
    $600k-1MM 29 $22,005,000 $758,793 $8,572 6.67%
    $1MM+ 13 $36,035,000 $2,771,923 $13,838 6.90%

    2023 saw Ulster Savings Bank place emphasis on $200k-400k loans with 172 originations, totaling $49,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 118 $33,670,000 $285,339 $3,714 6.84%
    $100k-150k 114 $22,370,000 $196,228 $2,652 6.83%
    $250k+ 86 $49,780,000 $578,837 $6,126 6.75%
    $75k-100k 76 $13,150,000 $173,026 $2,640 6.71%
    $50k-75k 72 $7,980,000 $110,833 $1,433 6.69%
    $50k or less 20 $1,680,000 $84,000 $1,569 6.61%

    Ulster Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 118 originations. The second most popular income band? $100k-150k, with 114 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 96 $26,320,000 $274,167 $3,299 6.60%
    20-30% 94 $18,230,000 $193,936 $2,582 6.84%
    <20% 38 $14,720,000 $387,368 $3,771 6.68%
    41% 36 $8,480,000 $235,556 $2,136 6.78%
    42% 34 $9,430,000 $277,353 $3,400 6.90%
    40% 29 $7,295,000 $251,552 $2,678 6.88%
    44% 28 $9,160,000 $327,143 $4,666 6.92%
    39% 25 $5,355,000 $214,200 $3,524 6.71%
    43% 25 $7,605,000 $304,200 $4,269 6.81%
    38% 23 $4,625,000 $201,087 $2,856 6.99%
    36% 16 $5,690,000 $355,625 $4,290 7.08%
    37% 15 $4,255,000 $283,667 $3,829 6.48%
    45% 9 $2,785,000 $309,444 $4,131 6.75%
    46% 5 $1,225,000 $245,000 $5,319 6.60%
    48% 5 $1,205,000 $241,000 $4,044 6.58%
    47% 4 $1,170,000 $292,500 $3,164 6.69%
    49% 4 $1,080,000 $270,000 $5,071 6.53%

    Ulster Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 96 originations. The next most common DTI ratio? 20-30%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 419 $104,865,000 $250,274 $3,198 6.78%
    Not applicable 21 $26,915,000 $1,281,667 $0 6.74%
    Asian 19 $11,915,000 $627,105 $6,213 6.83%
    Not provided 22 $5,740,000 $260,909 $3,234 6.80%
    Black 25 $5,725,000 $229,000 $3,084 6.43%
    American Indian 1 $385,000 $385,000 $6,595 7.75%

    Approval Rates

    Total approvals of all applications
    89.63%

    Ulster Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.88%

    Ulster Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $155,545,000 $306,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    507 $155,545,000 $306,795

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $14,010,000 $189,324 $1,486 6.97%
    40-60% 53 $30,945,000 $583,868 $3,820 6.57%
    60-80% 138 $65,510,000 $474,710 $6,079 6.61%
    80-100% 109 $38,525,000 $353,440 $5,166 6.58%
    Under 20% 133 $6,555,000 $49,286 $232 7.06%