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, Refi, and Cash Out Refi 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 8 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% 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

    1,375

    Origination Dollar Volume (All Markets)

    $350,125,000

    Employee count

    249

    Awards

    Ulster Savings Bank FHA Loans bronze Ulster Savings Bank 30 Year Conventional Loans silver
    Show all (2) 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) 750 $171,520,000 $228,693 $3,307 3.44%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 245 $60,985,000 $248,918 $3,725 3.42%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 109 $58,395,000 $535,734 $4,481 3.28%
    Outside of Metro Areas 228 $46,430,000 $203,640 $3,172 3.43%
    Hudson, NY (FHA|USDA|VA) 32 $9,990,000 $312,188 $4,086 3.34%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 7 $1,575,000 $225,000 $2,904 3.27%
    GLENS FALLS, NY (FHA|USDA|VA) 3 $1,135,000 $378,333 $3,697 3.25%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $95,000 $95,000 $2,124 2.88%
    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 First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    The Bank of Greene County
    Similarity Rank: 290
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    TEG Federal Credit Union
    Similarity Rank: 935
    MID-HUDSON VALLEY
    Similarity Rank: 981

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,315 $335,695,000 $255,281 $3,303 3.43%
    FHA 52 $11,860,000 $228,077 $6,369 3.31%
    VA 8 $2,570,000 $321,250 $10,186 3.16%

    For 2020, Ulster Savings Bank's most frequently originated type of loan was Conventional, with 1,315 originations. Their 2nd most popular type was FHA, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 657 $181,225,000 $275,837 $4,106 3.37%
    Refi 336 $82,620,000 $245,893 $2,659 3.21%
    Cash Out Refi 283 $75,995,000 $268,534 $3,886 3.39%
    Other 65 $8,615,000 $132,538 $1,475 4.20%
    Home Improvement 34 $1,670,000 $49,118 $269 5.25%

    For 2020, Ulster Savings Bank's most frequently cited loan purpose was Home Purchase, with 657 originations. The 2nd most popular reason was Refi, with 336 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 842 $243,070,000 $288,682 $4,106 3.41%
    15 Year 303 $58,405,000 $192,756 $2,358 3.35%
    20 Year 111 $27,495,000 $247,703 $3,347 3.38%
    10 Year 68 $9,110,000 $133,971 $1,533 3.57%
    Other 33 $10,235,000 $310,152 $3,461 3.76%
    5 Year 14 $370,000 $26,429 $0 4.21%
    30+ year 4 $1,440,000 $360,000 $4,215 3.22%

    For 2020, Ulster Savings Bank's most frequently cited loan duration was 30 Year, with 842 originations. The 2nd most popular length was 15 Year, with 303 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 667 $166,045,000 $248,943
    $2k-3k 251 $69,045,000 $275,080
    $<1k 123 $9,095,000 $73,943
    $3k-4k 122 $35,870,000 $294,016
    $4k-5k 74 $24,440,000 $330,270
    $5k+ 62 $26,120,000 $421,290

    Ulster Savings Bank's average total fees were $4,106, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 667 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 939 $247,285,000 $263,349
    2.5-3% 297 $81,315,000 $273,788
    4-5% 96 $16,660,000 $173,542
    5-6% 22 $2,260,000 $102,727
    <2.5% 14 $2,440,000 $174,286
    6-7% 7 $165,000 $23,571

    During 2020, Ulster Savings Bank's average interest rate for loans was 3.41%, while their most frequently originated rate bucket for loans was 3-4%, with 939 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 582 $157,230,000 $270,155 $3,944 3.33%
    $100k-200k 456 $70,080,000 $153,684 $2,854 3.35%
    $100,000 or less 151 $8,795,000 $58,245 $948 4.10%
    $400k-600k 128 $60,980,000 $476,406 $5,190 3.33%
    $600k-1MM 44 $32,900,000 $747,727 $5,808 3.31%
    $1MM+ 14 $20,140,000 $1,438,571 $7,700 3.15%

    2020 saw Ulster Savings Bank place emphasis on $200k-400k loans with 582 originations, totaling $157,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 322 $72,590,000 $225,435 $3,567 3.38%
    $150k-250k 297 $86,395,000 $290,892 $3,684 3.43%
    $75k-100k 219 $40,405,000 $184,498 $3,082 3.46%
    $50k-75k 212 $35,630,000 $168,066 $3,175 3.45%
    $250k+ 211 $94,795,000 $449,265 $4,096 3.27%
    $50k or less 88 $11,370,000 $129,205 $2,576 3.43%

    Ulster Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 322 originations. The second most popular income band? $150k-250k, with 297 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 333 $82,545,000 $247,883 $3,372 3.34%
    30-36% 269 $73,275,000 $272,398 $3,376 3.44%
    <20% 157 $40,455,000 $257,675 $3,175 3.32%
    44% 59 $14,555,000 $246,695 $3,291 3.57%
    42% 58 $14,020,000 $241,724 $3,282 3.48%
    40% 57 $13,745,000 $241,140 $3,685 3.38%
    43% 55 $15,675,000 $285,000 $3,894 3.31%
    39% 54 $13,500,000 $250,000 $3,223 3.47%
    41% 48 $12,200,000 $254,167 $3,770 3.58%
    38% 46 $10,750,000 $233,696 $3,895 3.53%
    36% 46 $12,570,000 $273,261 $4,155 3.46%
    37% 41 $9,155,000 $223,293 $3,622 3.53%
    45% 34 $7,990,000 $235,000 $3,814 3.40%
    49% 24 $5,050,000 $210,417 $3,609 3.41%
    46% 23 $4,495,000 $195,435 $3,574 3.26%
    47% 20 $4,810,000 $240,500 $3,673 3.36%
    48% 19 $4,885,000 $257,105 $3,623 3.20%
    50-60% 4 $1,230,000 $307,500 $4,622 3.06%
    >60% 1 $155,000 $155,000 $5,696 3.38%

    Ulster Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 333 originations. The next most common DTI ratio? 30-36%, with 269 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,143 $291,455,000 $254,991 $3,456 3.42%
    Not provided 122 $26,380,000 $216,230 $3,429 3.37%
    Asian 46 $16,150,000 $351,087 $3,646 3.25%
    Not applicable 24 $8,140,000 $339,167 $0 4.29%
    Black 39 $7,425,000 $190,385 $3,796 3.39%
    American Indian 1 $575,000 $575,000 $4,705 2.75%

    Approval Rates

    Total approvals of all applications
    88.98%

    Ulster Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.71%

    Ulster Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,375 $350,125,000 $254,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $5,405,000 $415,769
    Single Family (1-4 Units):Manufactured 9 $1,105,000 $122,778
    Single Family (1-4 Units):Site-Built 1,353 $343,615,000 $253,965

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 106 $19,550,000 $184,434 $1,990 3.59%
    40-60% 220 $53,200,000 $241,818 $2,780 3.18%
    60-80% 569 $165,995,000 $291,731 $3,878 3.37%
    80-100% 388 $102,750,000 $264,820 $4,157 3.36%
    Over 100% 12 $3,190,000 $265,833 $10,973 3.54%
    Under 20% 79 $5,195,000 $65,759 $476 4.50%

    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 $44,398
    Ulster Savings Bank 1208 Route 300 Newburgh, NY 12550 Full Service B&M $28,507
    Ulster Savings Bank 1387 Route 9, Hark Plaza Building 2, Suite 204 Wappingers Falls, NY 12590 Full Service B&M $34,425
    Ulster Savings Bank 1571 Ulster Avenue Lake Katrine, NY 12449 Full Service B&M $14,182
    Ulster Savings Bank 180 Schwenk Drive Kingston, NY 12401 Full Service B&M $190,810
    Ulster Savings Bank 2201 Route 44/55 Gardiner, NY 12525 Full Service B&M $28,754
    Ulster Savings Bank 226 Main Street New Paltz, NY 12561 Full Service B&M $170,206
    Ulster Savings Bank 280 Wall Street Kingston, NY 12401 Full Service B&M $115,926
    Ulster Savings Bank 3857 Main Street Stone Ridge, NY 12484 Full Service B&M $110,037
    Ulster Savings Bank 39 Burnett Blvd Poughkeepsie, NY 12603 Full Service B&M $46,553
    Ulster Savings Bank 58 Main Street, First Floor Phoenicia, NY 12464 Full Service B&M $41,289
    Ulster Savings Bank 68 Mill Hill Road Woodstock, NY 12498 Full Service B&M $54,650
    Ulster Savings Bank 7296 South Broadway Red Hook, NY 12571 Full Service B&M $32,798
    Ulster Savings Bank Beechwood Avenue And South Road Poughkeepsie Township, NY 12601 Full Service B&M $65,992

    For 2020, Ulster Savings Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,735
    Net interest income $28,475
    Total noninterest income $20,283
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,529
    Trading account gains and fees $0
    Additional Noninterest Income $18,754
    Pre-tax net operating income $7,766
    Securities gains (or losses, -) $414
    Income before extraordinary items $7,331
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,331
    Minority interest net income $0
    Net income $7,331
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,958

    Ulster Savings Bank's gross interest income from loans was $34,735,000.
    Ulster Savings Bank's net interest income from loans was $28,475,000.
    Ulster Savings Bank's fee based income from loans was $1,529,000.
    Ulster Savings Bank's net income from loans was $7,331,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,260
    Provision for credit losses $2,783
    Total noninterest expense $38,209
    Salaries and employee benefits $19,810
    Premises and equipment expense $5,503
    Additional noninterest expense $12,896
    Applicable income taxes $849
    Net charge-offs $801
    Cash dividends $0

    Ulster Savings Bank's interest expense for loans was $6,260,000.
    Ulster Savings Bank's payroll and benefits expense were $19,810,000.
    Ulster Savings Bank's property, plant and equipment expenses $5,503,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 6.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 1.0%
    HELOC loans 5.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $1,053,352
    Deposits held in domestic offices $1,053,352
    Deposits by Individuals, partnerships, and corporations $1,049,538
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,566
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $99,745
    Demand deposits $55,744
    Nontransaction accounts $953,607
    Money market deposit accounts (MMDAs) $114,945
    Other savings deposits (excluding MMDAs) $558,208
    Total time deposits $280,453
    Total time and savings deposits $997,608
    Noninterest-bearing deposits $186,447
    Interest-bearing deposits $866,905
    Retail deposits $984,196
    IRAs and Keogh plan accounts $26,281
    Brokered deposits $21,848
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,173,014
    Cash & Balances due from depository institutions $219,791
    Interest-bearing balances $207,014
    Total securities $116,311
    Federal funds sold & reverse repurchase $0
    Net loans and leases $766,329
    Loan and leases loss allowance $10,933
    Trading account assets $0
    Bank premises and fixed assets $15,942
    Other real estate owned $0
    Goodwill and other intangibles $8,251
    All other assets $46,390

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,173,014
    Total Liabilities $1,059,537
    Total deposits $1,053,352
    Interest-bearing deposits $866,905
    Deposits held in domestic offices $1,053,352
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,185

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $766,329
    Loan and leases loss allowance $10,933
    Total loans and leases (domestic) $777,262
    All real estate loans $705,391
    Real estate loans in domestic offices $705,391
    Construction and development loans $52,334
    Residential 1-4 family construction $24,381
    Other construction, all land development and other land $27,953
    Loans secured by nonfarm nonresidential properties $156,546
    Nonfarm nonresidential secured by owner-occupied properties $86,372
    Commercial real estate & other non-farm, non-residential $70,174
    Multifamily residential real estate $54,108
    1-4 family residential loans $435,101
    Farmland loans $7,302
    Loans held in foreign offices $0
    Farm loans $1,357
    Commercial and industrial loans $43,682
    To non-U.S. addressees $0
    Loans to individuals $22,408
    Credit card loans $0
    Related Plans $122
    Consumer Auto Loans $11,766
    Other loans to individuals $10,520
    All other loans & leases $4,424
    Loans to foreign governments and official institutions $0
    Other loans $4,424
    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 $9,558
    Non 1-4 family restructured loans & leases $2,362
    Total loans and leases (foreign) $0

    Ulster Savings Bank had $766,329,000 of loans outstanding in 2020. $705,391,000 of loans were in real estate loans. $52,334,000 of loans were in development loans. $54,108,000 of loans were in multifamily mortgage loans. $435,101,000 of loans were in 1-4 family mortgage loans. $1,357,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,766,000 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 226 $60,426 $267,372
    Nonfarm, nonresidential loans - <$100k 25 $1,177 $47,080
    Nonfarm, nonresidential loans - $100-250k 78 $10,009 $128,321
    Nonfarm, nonresidential loans - $250k-1MM 123 $49,240 $400,325
    Commercial & Industrial, US addressed loans - <$1MM 344 $37,283 $108,381
    Commercial & Industrial, US addressed loans - <$100k 196 $4,925 $25,128
    Commercial & Industrial, US addressed loans - $100-250k 87 $11,637 $133,759
    Commercial & Industrial, US addressed loans - $250k-1MM 61 $20,721 $339,689
    Farmland loans - <$1MM 1 $311 $311,000
    Farmland loans - $250k-1MM 1 $311 $311,000
    Agriculture operations loans - <$1MM 8 $653 $81,625
    Agriculture operations loans - <$100k 3 $44 $14,667
    Agriculture operations loans - $100-250k 5 $609 $121,800