Ulster Savings Bank Mortgage Rates, Fees & Info

Kingston, NY

LEI: 5493008GTOZI3HQKE634

Tax ID: 14-1136850

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Kingston, Poughkeepsie, New York, Hudson, and Albany among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ulster Savings 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. Ulster Savings 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.

    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

    1,035

    Origination Dollar Volume (All Markets)

    $221,135,000

    Employee count

    264 Show all (8) 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
    KINGSTON, NY (FHA|USDA|VA) 531 $95,955,000 $180,706 $2,837 4.58%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 232 $46,510,000 $200,474 $3,108 4.57%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 85 $43,395,000 $510,529 $5,031 4.34%
    Outside of Metro Areas 164 $30,470,000 $185,793 $3,191 4.50%
    Hudson, NY (FHA|USDA|VA) 18 $4,040,000 $224,444 $2,876 4.40%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 5 $765,000 $153,000 $2,408 4.33%
    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.

    The Bank of Greene County
    Similarity Rank: 54
    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    SEFCU SERVICES, LLC
    Similarity Rank: 96
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 985 $211,065,000 $214,279 $3,005 4.54%
    FHA 41 $7,185,000 $175,244 $5,485 4.55%
    VA 7 $1,845,000 $263,571 $6,150 4.29%
    HELOC 1 $905,000 $905,000 n/a 3.75%
    USDA 1 $135,000 $135,000 $5,863 4.50%

    For 2018, Ulster Savings Bank's most frequently originated type of loan was Conventional, with 985 originations. Their 2nd most popular type was FHA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 661 $162,555,000 $245,923 $3,730 4.53%
    Cash Out Refi 152 $35,960,000 $236,579 $2,670 4.48%
    Other 111 $9,675,000 $87,162 $1,066 4.61%
    Refi 67 $11,105,000 $165,746 $2,271 4.45%
    Home Improvement 44 $1,840,000 $41,818 $115 4.85%

    For 2018, Ulster Savings Bank's most frequently cited loan purpose was Home Purchase, with 661 originations. The 2nd most popular reason was Cash Out Refi, with 152 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 676 $163,710,000 $242,175 $3,631 4.51%
    15 Year 167 $18,185,000 $108,892 $1,646 4.69%
    10 Year 55 $4,375,000 $79,545 $85 4.76%
    5 Year 46 $1,680,000 $36,522 $86 4.16%
    Other 42 $19,540,000 $465,238 $7,244 4.70%
    20 Year 36 $9,740,000 $270,556 $3,071 4.49%
    30+ year 10 $3,830,000 $383,000 $5,245 4.66%
    3 Year 3 $75,000 $25,000 $0 4.00%

    For 2018, Ulster Savings Bank's most frequently cited loan duration was 30 Year, with 676 originations. The 2nd most popular length was 15 Year, with 167 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 485 $115,065,000 $237,247
    $<1k 221 $14,585,000 $65,995
    $2k-3k 167 $37,785,000 $226,257
    $3k-4k 62 $15,440,000 $249,032
    $5k+ 26 $13,950,000 $536,538
    $4k-5k 23 $6,665,000 $289,783

    Ulster Savings Bank's average total fees were $3,631, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 485 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 729 $149,225,000 $204,698
    3-4% 212 $52,160,000 $246,038
    5-6% 90 $19,040,000 $211,556
    2.5-3% 3 $685,000 $228,333
    6-7% 1 $25,000 $25,000

    During 2018, Ulster Savings Bank's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 4-5%, with 729 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 386 $57,210,000 $148,212 $3,077 4.54%
    $200k-400k 285 $77,065,000 $270,404 $3,816 4.53%
    $100,000 or less 259 $13,975,000 $53,958 $1,037 4.66%
    $400k-600k 64 $30,370,000 $474,531 $4,843 4.27%
    $600k-1MM 29 $21,315,000 $735,000 $5,246 4.21%
    $1MM+ 12 $21,200,000 $1,766,667 $14,804 4.35%

    2018 saw Ulster Savings Bank place emphasis on $100k-200k loans with 386 originations, totaling $57,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 211 $40,755,000 $193,152 $3,218 4.55%
    $50k-75k 195 $26,975,000 $138,333 $2,644 4.62%
    $150k-250k 173 $44,985,000 $260,029 $3,263 4.49%
    $75k-100k 171 $28,635,000 $167,456 $2,768 4.54%
    $50k or less 132 $14,590,000 $110,530 $2,650 4.52%
    $250k+ 107 $48,965,000 $457,617 $4,758 4.29%

    Ulster Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 211 originations. The second most popular income band? $50k-75k, with 195 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 228 $45,110,000 $197,851 $2,889 4.49%
    30-36% 183 $35,445,000 $193,689 $3,082 4.51%
    <20% 78 $15,000,000 $192,308 $2,823 4.37%
    42% 65 $15,105,000 $232,385 $3,311 4.56%
    43% 55 $13,415,000 $243,909 $3,412 4.40%
    38% 51 $9,915,000 $194,412 $3,810 4.53%
    40% 44 $8,520,000 $193,636 $2,787 4.58%
    41% 43 $12,635,000 $293,837 $4,052 4.67%
    37% 38 $7,260,000 $191,053 $2,920 4.54%
    44% 33 $10,895,000 $330,152 $3,279 4.49%
    36% 32 $5,360,000 $167,500 $2,696 4.62%
    39% 32 $5,880,000 $183,750 $3,025 4.65%
    47% 21 $4,255,000 $202,619 $3,621 4.64%
    48% 21 $4,125,000 $196,429 $3,690 4.60%
    49% 21 $3,615,000 $172,143 $3,203 4.49%
    46% 13 $2,185,000 $168,077 $3,226 4.54%
    45% 13 $2,495,000 $191,923 $3,404 4.56%
    >60% 9 $2,165,000 $240,556 $3,070 4.69%
    50-60% 5 $1,015,000 $203,000 $4,791 4.15%

    Ulster Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 228 originations. The next most common DTI ratio? 30-36%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 836 $174,340,000 $208,541 $3,208 4.54%
    Not provided 99 $15,995,000 $161,566 $2,444 4.37%
    Not applicable 43 $15,905,000 $369,884 $0 5.00%
    Asian 32 $9,910,000 $309,688 $3,543 4.29%
    Black 23 $4,725,000 $205,435 $3,621 4.85%
    American Indian 2 $260,000 $130,000 $1,252 4.38%

    Approval Rates

    Total approvals of all applications
    90.87%

    Ulster Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.83%

    Ulster Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,035 $221,135,000 $213,657

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $2,155,000 $718,333
    Multifamily:Site-Built 20 $10,890,000 $544,500
    Single Family (1-4 Units):Manufactured 11 $1,235,000 $112,273
    Single Family (1-4 Units):Site-Built 1,001 $206,855,000 $206,648

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 77 $9,205,000 $119,545 $1,483 4.64%
    40-60% 119 $31,295,000 $262,983 $2,740 4.40%
    60-80% 334 $91,860,000 $275,030 $3,939 4.48%
    80-100% 359 $81,185,000 $226,142 $3,624 4.55%
    Over 100% 10 $2,300,000 $230,000 $5,241 4.90%
    Under 20% 136 $5,290,000 $38,897 $162 4.71%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Ulster Savings Bank 1 Twin Maples Plaza, Route 9-W Saugerties, NY 12477 Full Service B&M $36,286
    Ulster Savings Bank 1208 Route 300 Newburgh, NY 12550 Full Service B&M $13,031
    Ulster Savings Bank 1387 Route 9 Wappingers Falls, NY 12590 Full Service B&M $14,607
    Ulster Savings Bank 1571 Ulster Avenue Lake Katrine, NY 12449 Full Service B&M $8,009
    Ulster Savings Bank 180 Schwenk Drive Kingston, NY 12401 Full Service B&M $156,341
    Ulster Savings Bank 2201 Route 44/55 Gardiner, NY 12525 Full Service B&M $22,564
    Ulster Savings Bank 226 Main Street New Paltz, NY 12561 Full Service B&M $139,641
    Ulster Savings Bank 280 Wall Street Kingston, NY 12401 Full Service B&M $110,720
    Ulster Savings Bank 3857 Main Street Stone Ridge, NY 12484 Full Service B&M $82,275
    Ulster Savings Bank 39 Burnett Blvd Poughkeepsie, NY 12603 Full Service B&M $40,704
    Ulster Savings Bank 58 Main Street, First Floor Phoenicia, NY 12464 Full Service B&M $29,985
    Ulster Savings Bank 68 Mill Hill Road Woodstock, NY 12498 Full Service B&M $43,186
    Ulster Savings Bank 7296 South Broadway Red Hook, NY 12571 Full Service B&M $22,821
    Ulster Savings Bank Beechwood Avenue And South Road Poughkeepsie Township, NY 12601 Full Service B&M $50,334

    For 2018, Ulster Savings Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,710
    Net interest income $27,396
    Total noninterest income $13,290
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,015
    Trading account gains and fees $0
    Additional Noninterest Income $11,275
    Pre-tax net operating income $4,389
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,789
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,789
    Minority interest net income $0
    Net income $3,789
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,789

    Ulster Savings Bank's gross interest income from loans was $31,710,000.
    Ulster Savings Bank's net interest income from loans was $27,396,000.
    Ulster Savings Bank's fee based income from loans was $2,015,000.
    Ulster Savings Bank's net income from loans was $3,789,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,314
    Provision for credit losses $1,364
    Total noninterest expense $34,933
    Salaries and employee benefits $18,920
    Premises and equipment expense $4,986
    Additional noninterest expense $11,027
    Applicable income taxes $600
    Net charge-offs $886
    Cash dividends $0

    Ulster Savings Bank's interest expense for loans was $4,314,000.
    Ulster Savings Bank's payroll and benefits expense were $18,920,000.
    Ulster Savings Bank's property, plant and equipment expenses $4,986,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $774,562
    Deposits held in domestic offices $774,562
    Deposits by Individuals, partnerships, and corporations $774,562
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $70,686
    Demand deposits $38,345
    Nontransaction accounts $703,876
    Money market deposit accounts (MMDAs) $54,097
    Other savings deposits (excluding MMDAs) $435,379
    Total time deposits $214,401
    Total time and savings deposits $736,217
    Noninterest-bearing deposits $123,179
    Interest-bearing deposits $651,383
    Retail deposits $728,923
    IRAs and Keogh plan accounts $25,005
    Brokered deposits $26,864
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $896,328
    Cash & Balances due from depository institutions $25,013
    Interest-bearing balances $16,094
    Total securities $77,839
    Federal funds sold & reverse repurchase $0
    Net loans and leases $720,515
    Loan and leases loss allowance $8,481
    Trading account assets $0
    Bank premises and fixed assets $19,395
    Other real estate owned $0
    Goodwill and other intangibles $10,419
    All other assets $43,147

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $896,328
    Total Liabilities $797,812
    Total deposits $774,562
    Interest-bearing deposits $651,383
    Deposits held in domestic offices $774,562
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $16,975
    Subordinated debt $0
    All other liabilities $6,275

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $720,515
    Loan and leases loss allowance $8,481
    Total loans and leases (domestic) $728,996
    All real estate loans $693,775
    Real estate loans in domestic offices $693,775
    Construction and development loans $57,933
    Residential 1-4 family construction $47,943
    Other construction, all land development and other land $9,990
    Loans secured by nonfarm nonresidential properties $127,708
    Nonfarm nonresidential secured by owner-occupied properties $59,922
    Commercial real estate & other non-farm, non-residential $67,786
    Multifamily residential real estate $54,553
    1-4 family residential loans $453,581
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $3,500
    Commercial and industrial loans $19,239
    To non-U.S. addressees $0
    Loans to individuals $12,212
    Credit card loans $0
    Related Plans $150
    Consumer Auto Loans $11,816
    Other loans to individuals $246
    All other loans & leases $270
    Loans to foreign governments and official institutions $0
    Other loans $270
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $11,520
    Non 1-4 family restructured loans & leases $2,746
    Total loans and leases (foreign) $0

    Ulster Savings Bank had $720,515,000 of loans outstanding in 2018. $693,775,000 of loans were in real estate loans. $57,933,000 of loans were in development loans. $54,553,000 of loans were in multifamily mortgage loans. $453,581,000 of loans were in 1-4 family mortgage loans. $3,500,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,816,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 258 $61,610 $238,798
    Nonfarm, nonresidential loans - <$100k 43 $1,729 $40,209
    Nonfarm, nonresidential loans - $100-250k 87 $11,487 $132,034
    Nonfarm, nonresidential loans - $250k-1MM 128 $48,394 $378,078
    Commercial & Industrial, US addressed loans - <$1MM 318 $15,062 $47,365
    Commercial & Industrial, US addressed loans - <$100k 263 $2,696 $10,251
    Commercial & Industrial, US addressed loans - $100-250k 32 $4,336 $135,500
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $8,030 $349,130