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.) Their top markets by origination volume include: Kingston, Poughkeepsie, New York, Hudson, and Glens Falls 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 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% 4/18/24
    30 Year Conventional Refi 6.40% 4/18/24
    30 Year Cash-out Refi 6.53% 4/18/24
    30 Year FHA Purchase 7.65% 4/18/24
    30 Year FHA Refi 7.49% 4/18/24
    30 Year VA Purchase 6.69% 4/18/24
    30 Year USDA Purchase 6.39% 4/18/24
    15 Year Conventional Purchase 6.18% 4/18/24
    15 Year Conventional Refi 6.08% 4/18/24
    15 Year Cash-out Refi 6.08% 4/18/24
    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

    981

    Origination Dollar Volume (All Markets)

    $216,955,000

    Employee count

    249

    Awards

    Ulster Savings Bank FHA Loans silver Ulster Savings Bank 30 Year Conventional Loans silver Ulster Savings Bank FHA Loans silver Ulster Savings Bank 30 Year Conventional Loans bronze
    Show all (4) 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) 539 $104,475,000 $193,831 $2,907 4.18%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 191 $44,575,000 $233,377 $3,382 4.22%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 69 $34,625,000 $501,812 $4,124 4.08%
    Outside of Metro Areas 158 $25,520,000 $161,519 $3,078 4.09%
    Hudson, NY (FHA|USDA|VA) 15 $5,075,000 $338,333 $3,948 4.40%
    GLENS FALLS, NY (FHA|USDA|VA) 3 $1,415,000 $471,667 $3,103 4.17%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 6 $1,270,000 $211,667 $3,570 3.98%
    Ulster Savings Bank's top markets include Kingston, Poughkeepsie, New York, Hudson, and Glens Falls 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.

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    The Bank of Greene County
    Similarity Rank: 120
    Union County Savings Bank
    Similarity Rank: 150
    SEFCU SERVICES, LLC
    Similarity Rank: 156
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    CCFCU FUNDING, LLC
    Similarity Rank: 216
    MID-HUDSON VALLEY
    Similarity Rank: 222
    Bogota Savings Bank
    Similarity Rank: 246

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 936 $207,540,000 $221,731 $2,989 4.18%
    FHA 35 $6,595,000 $188,429 $5,800 4.00%
    VA 10 $2,820,000 $282,000 $5,958 3.81%

    For 2019, Ulster Savings Bank's most frequently originated type of loan was Conventional, with 936 originations. Their 2nd most popular type was FHA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 624 $150,420,000 $241,058 $3,707 4.07%
    Cash Out Refi 136 $32,360,000 $237,941 $3,158 4.17%
    Refi 100 $26,190,000 $261,900 $2,903 3.81%
    Other 75 $5,325,000 $71,000 $520 4.82%
    Home Improvement 46 $2,660,000 $57,826 $162 5.22%

    For 2019, Ulster Savings Bank's most frequently cited loan purpose was Home Purchase, with 624 originations. The 2nd most popular reason was Cash Out Refi, with 136 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 661 $168,305,000 $254,622 $3,824 4.07%
    15 Year 178 $25,090,000 $140,955 $1,629 4.27%
    10 Year 52 $3,970,000 $76,346 $659 4.72%
    20 Year 33 $7,255,000 $219,848 $3,442 3.90%
    5 Year 27 $1,045,000 $38,704 $4 4.59%
    Other 25 $8,875,000 $355,000 $2,546 4.76%
    30+ year 5 $2,415,000 $483,000 $6,565 4.23%

    For 2019, Ulster Savings Bank's most frequently cited loan duration was 30 Year, with 661 originations. The 2nd most popular length was 15 Year, with 178 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 475 $107,985,000 $227,337
    $<1k 159 $11,325,000 $71,226
    $2k-3k 153 $38,255,000 $250,033
    $3k-4k 71 $22,035,000 $310,352
    $5k+ 31 $14,525,000 $468,548
    $4k-5k 28 $7,710,000 $275,357

    Ulster Savings Bank's average total fees were $3,824, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 475 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 502 $124,320,000 $247,649
    4-5% 371 $78,275,000 $210,984
    5-6% 89 $11,535,000 $129,607
    6-7% 12 $570,000 $47,500
    2.5-3% 6 $2,230,000 $371,667
    7-8% 1 $25,000 $25,000

    During 2019, Ulster Savings Bank's average interest rate for loans was 4.07%, while their most frequently originated rate bucket for loans was 3-4%, with 502 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 347 $52,155,000 $150,303 $2,941 4.05%
    $200k-400k 338 $90,990,000 $269,201 $3,928 3.99%
    $100,000 or less 199 $11,195,000 $56,256 $886 4.72%
    $400k-600k 60 $28,550,000 $475,833 $4,930 4.11%
    $600k-1MM 26 $18,840,000 $724,615 $4,902 4.03%
    $1MM+ 11 $15,225,000 $1,384,091 $8,957 4.02%

    2019 saw Ulster Savings Bank place emphasis on $100k-200k loans with 347 originations, totaling $52,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 229 $46,615,000 $203,559 $3,274 4.20%
    $150k-250k 184 $44,490,000 $241,793 $3,247 4.11%
    $50k-75k 174 $27,010,000 $155,230 $2,806 4.16%
    $75k-100k 161 $28,645,000 $177,919 $2,941 4.15%
    $250k+ 125 $51,715,000 $413,720 $3,847 4.07%
    $50k or less 87 $10,385,000 $119,368 $2,507 4.15%

    Ulster Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 229 originations. The second most popular income band? $150k-250k, with 184 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 245 $57,065,000 $232,918 $3,057 4.04%
    30-36% 213 $42,515,000 $199,601 $2,896 4.20%
    <20% 81 $16,935,000 $209,074 $2,676 4.04%
    41% 48 $9,300,000 $193,750 $2,484 4.25%
    40% 40 $7,090,000 $177,250 $3,065 4.38%
    39% 40 $7,740,000 $193,500 $3,242 4.45%
    38% 38 $8,390,000 $220,789 $3,756 4.24%
    42% 36 $7,430,000 $206,389 $2,951 4.22%
    43% 33 $11,305,000 $342,576 $3,804 4.15%
    37% 32 $7,050,000 $220,313 $3,134 4.11%
    44% 32 $8,470,000 $264,688 $3,537 4.03%
    36% 31 $5,895,000 $190,161 $3,298 4.11%
    45% 27 $5,385,000 $199,444 $3,523 4.04%
    46% 17 $3,755,000 $220,882 $4,122 4.17%
    49% 14 $3,320,000 $237,143 $4,794 3.89%
    47% 13 $3,155,000 $242,692 $4,736 3.95%
    48% 12 $2,320,000 $193,333 $2,630 4.15%
    50-60% 3 $735,000 $245,000 $5,595 3.42%
    >60% 1 $235,000 $235,000 $4,516 3.75%

    Ulster Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 245 originations. The next most common DTI ratio? 30-36%, with 213 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 847 $186,835,000 $220,584 $3,111 4.15%
    Not provided 54 $9,550,000 $176,852 $2,713 4.19%
    Not applicable 18 $7,070,000 $392,778 $0 5.20%
    Black 32 $6,670,000 $208,438 $4,029 4.12%
    Asian 27 $6,645,000 $246,111 $3,914 4.02%
    American Indian 1 $105,000 $105,000 $2,088 4.38%
    Asian Indian 2 $80,000 $40,000 $0 5.43%

    Approval Rates

    Total approvals of all applications
    88.71%

    Ulster Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.65%

    Ulster Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 981 $216,955,000 $221,157

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $820,000 $410,000
    Multifamily:Site-Built 11 $6,245,000 $567,727
    Single Family (1-4 Units):Manufactured 11 $1,455,000 $132,273
    Single Family (1-4 Units):Site-Built 957 $208,435,000 $217,800

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $11,350,000 $141,875 $1,736 4.35%
    40-60% 115 $23,835,000 $207,261 $2,536 3.96%
    60-80% 301 $85,455,000 $283,904 $3,739 4.03%
    80-100% 372 $89,320,000 $240,108 $3,914 4.06%
    Over 100% 10 $2,020,000 $202,000 $6,751 4.35%
    Under 20% 102 $4,910,000 $48,137 $211 5.02%

    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 $38,061
    Ulster Savings Bank 1208 Route 300 Newburgh, NY 12550 Full Service B&M $16,606
    Ulster Savings Bank 1387 Route 9, Hark Plaza Building 2, Suite 204 Wappingers Falls, NY 12590 Full Service B&M $18,396
    Ulster Savings Bank 1571 Ulster Avenue Lake Katrine, NY 12449 Full Service B&M $11,084
    Ulster Savings Bank 180 Schwenk Drive Kingston, NY 12401 Full Service B&M $152,050
    Ulster Savings Bank 2201 Route 44/55 Gardiner, NY 12525 Full Service B&M $24,650
    Ulster Savings Bank 226 Main Street New Paltz, NY 12561 Full Service B&M $144,701
    Ulster Savings Bank 280 Wall Street Kingston, NY 12401 Full Service B&M $107,035
    Ulster Savings Bank 3857 Main Street Stone Ridge, NY 12484 Full Service B&M $87,949
    Ulster Savings Bank 39 Burnett Blvd Poughkeepsie, NY 12603 Full Service B&M $42,804
    Ulster Savings Bank 58 Main Street, First Floor Phoenicia, NY 12464 Full Service B&M $32,813
    Ulster Savings Bank 68 Mill Hill Road Woodstock, NY 12498 Full Service B&M $47,901
    Ulster Savings Bank 7296 South Broadway Red Hook, NY 12571 Full Service B&M $25,566
    Ulster Savings Bank Beechwood Avenue And South Road Poughkeepsie Township, NY 12601 Full Service B&M $49,009

    For 2019, Ulster Savings Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $35,872
    Net interest income $29,533
    Total noninterest income $16,362
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,161
    Trading account gains and fees $0
    Additional Noninterest Income $14,201
    Pre-tax net operating income $8,432
    Securities gains (or losses, -) $1,150
    Income before extraordinary items $6,809
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,809
    Minority interest net income $0
    Net income $6,809
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,900

    Ulster Savings Bank's gross interest income from loans was $35,872,000.
    Ulster Savings Bank's net interest income from loans was $29,533,000.
    Ulster Savings Bank's fee based income from loans was $2,161,000.
    Ulster Savings Bank's net income from loans was $6,809,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,339
    Provision for credit losses $940
    Total noninterest expense $36,523
    Salaries and employee benefits $19,667
    Premises and equipment expense $4,993
    Additional noninterest expense $11,863
    Applicable income taxes $2,773
    Net charge-offs $470
    Cash dividends $0

    Ulster Savings Bank's interest expense for loans was $6,339,000.
    Ulster Savings Bank's payroll and benefits expense were $19,667,000.
    Ulster Savings Bank's property, plant and equipment expenses $4,993,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 4.0%
    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 $837,504
    Deposits held in domestic offices $837,504
    Deposits by Individuals, partnerships, and corporations $837,251
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $252
    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 $75,890
    Demand deposits $43,051
    Nontransaction accounts $761,613
    Money market deposit accounts (MMDAs) $64,345
    Other savings deposits (excluding MMDAs) $434,212
    Total time deposits $263,056
    Total time and savings deposits $794,452
    Noninterest-bearing deposits $127,578
    Interest-bearing deposits $709,926
    Retail deposits $785,529
    IRAs and Keogh plan accounts $24,260
    Brokered deposits $21,848
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $956,434
    Cash & Balances due from depository institutions $26,240
    Interest-bearing balances $20,251
    Total securities $67,937
    Federal funds sold & reverse repurchase $0
    Net loans and leases $794,387
    Loan and leases loss allowance $8,950
    Trading account assets $0
    Bank premises and fixed assets $17,716
    Other real estate owned $108
    Goodwill and other intangibles $9,758
    All other assets $40,288

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $956,434
    Total Liabilities $850,444
    Total deposits $837,504
    Interest-bearing deposits $709,926
    Deposits held in domestic offices $837,504
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,175
    Subordinated debt $0
    All other liabilities $4,765

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $794,387
    Loan and leases loss allowance $8,950
    Total loans and leases (domestic) $803,337
    All real estate loans $737,718
    Real estate loans in domestic offices $737,718
    Construction and development loans $43,661
    Residential 1-4 family construction $28,658
    Other construction, all land development and other land $15,003
    Loans secured by nonfarm nonresidential properties $156,137
    Nonfarm nonresidential secured by owner-occupied properties $75,242
    Commercial real estate & other non-farm, non-residential $80,895
    Multifamily residential real estate $55,972
    1-4 family residential loans $475,731
    Farmland loans $6,217
    Loans held in foreign offices $0
    Farm loans $258
    Commercial and industrial loans $40,236
    To non-U.S. addressees $0
    Loans to individuals $24,822
    Credit card loans $0
    Related Plans $145
    Consumer Auto Loans $11,856
    Other loans to individuals $12,821
    All other loans & leases $303
    Loans to foreign governments and official institutions $0
    Other loans $303
    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 $9,451
    Non 1-4 family restructured loans & leases $2,522
    Total loans and leases (foreign) $0

    Ulster Savings Bank had $794,387,000 of loans outstanding in 2019. $737,718,000 of loans were in real estate loans. $43,661,000 of loans were in development loans. $55,972,000 of loans were in multifamily mortgage loans. $475,731,000 of loans were in 1-4 family mortgage loans. $258,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,856,000 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 245 $62,463 $254,951
    Nonfarm, nonresidential loans - <$100k 34 $1,652 $48,588
    Nonfarm, nonresidential loans - $100-250k 79 $10,464 $132,456
    Nonfarm, nonresidential loans - $250k-1MM 132 $50,347 $381,417
    Commercial & Industrial, US addressed loans - <$1MM 378 $32,372 $85,640
    Commercial & Industrial, US addressed loans - <$100k 248 $4,184 $16,871
    Commercial & Industrial, US addressed loans - $100-250k 78 $11,054 $141,718
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $17,134 $329,500
    Farmland loans - <$1MM 1 $319 $319,000
    Farmland loans - $250k-1MM 1 $319 $319,000
    Agriculture operations loans - <$1MM 5 $257 $51,400
    Agriculture operations loans - <$100k 3 $74 $24,667
    Agriculture operations loans - $100-250k 2 $183 $91,500