Bogota Savings Bank Mortgage Rates, Fees & Info

Teaneck, NJ

LEI: 5493008RQ8SRLTLRWX62

Tax ID: 22-0780560

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

Jump to:

  • 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)

    • Review & Overview

    Bogota Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Bogota Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Atlantic City, Trenton, North Port, and Philadelphia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bogota 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. Bogota 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.87% 4/28/24
    30 Year Conventional Refi 5.83% 4/28/24
    15 Year Conventional Purchase 5.93% 4/28/24
    15 Year Conventional Refi 6.01% 4/28/24
    15 Year Cash-out Refi 6.01% 4/28/24
    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.

    Bogota Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bogota 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

    130

    Origination Dollar Volume (All Markets)

    $57,550,000

    Awards

    Bogota Savings Bank 30 Year Conventional Loans silver Bogota 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 124 $53,920,000 $434,839 $4,553 4.23%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $2,605,000 $868,333 $7,785 3.63%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $385,000 $385,000 $4,707 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,179 6.25%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $275,000 $275,000 $6,228 4.00%
    Bogota Savings Bank's top markets include New York, Atlantic City, Trenton, North Port, and Philadelphia among others.

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

    • Similar Lenders

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

    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    N C P D Federal Credit Union
    Similarity Rank: 201
    Nassau Educators Federal Credit Union
    Similarity Rank: 481
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 540
    Ridgewood Savings Bank
    Similarity Rank: 644
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 664
    Bogota Savings Bank
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $57,550,000 $442,692 $4,655 4.22%

    For 2022, Bogota Savings Bank's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 74 $38,480,000 $520,000 $5,886 4.32%
    Refi 46 $18,170,000 $395,000 $3,518 3.98%
    Home Improvement 10 $900,000 $90,000 $0 4.61%

    For 2022, Bogota Savings Bank's most frequently cited loan purpose was Home Purchase, with 74 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 97 $48,935,000 $504,485 $5,450 4.21%
    Other 13 $3,045,000 $234,231 $1,062 4.38%
    15 Year 8 $2,490,000 $311,250 $2,256 4.20%
    20 Year 4 $500,000 $125,000 $1,094 4.41%
    10 Year 3 $135,000 $45,000 $0 4.17%
    5 Year 3 $1,155,000 $385,000 $0 4.29%
    30+ year 2 $1,290,000 $645,000 $0 3.44%

    For 2022, Bogota Savings Bank's most frequently cited loan duration was 30 Year, with 97 originations. The 2nd most popular length was Other, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 94 $47,600,000 $506,383
    $<1k 21 $2,635,000 $125,476
    $2k-3k 3 $1,085,000 $361,667
    $5k+ 2 $800,000 $400,000
    $4k-5k 1 $825,000 $825,000

    Bogota Savings Bank's average total fees were $5,450, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 94 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 72 $37,960,000 $527,222
    4-5% 39 $13,505,000 $346,282
    5-6% 15 $5,025,000 $335,000
    6-7% 2 $670,000 $335,000
    2.5-3% 1 $345,000 $345,000
    7-8% 1 $45,000 $45,000

    During 2022, Bogota Savings Bank's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $14,485,000 $321,889 $4,881 4.40%
    $400k-600k 31 $14,605,000 $471,129 $5,625 4.14%
    $600k-1MM 22 $15,790,000 $717,727 $5,990 3.92%
    $100,000 or less 15 $885,000 $59,000 $293 4.53%
    $100k-200k 10 $1,520,000 $152,000 $2,581 4.10%
    $1MM+ 7 $10,265,000 $1,466,429 $9,186 3.88%

    2022 saw Bogota Savings Bank place emphasis on $200k-400k loans with 45 originations, totaling $14,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 46 $18,580,000 $403,913 $4,584 4.23%
    $250k+ 32 $21,670,000 $677,188 $5,900 4.17%
    $100k-150k 28 $8,400,000 $300,000 $3,623 4.23%
    $75k-100k 10 $2,200,000 $220,000 $3,597 4.53%
    $50k-75k 3 $545,000 $181,667 $4,203 3.79%

    Bogota Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $250k+, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 35 $17,995,000 $514,143 $4,915 4.28%
    20-30% 30 $10,720,000 $357,333 $4,319 4.18%
    <20% 11 $5,875,000 $534,091 $5,873 3.77%
    42% 9 $2,615,000 $290,556 $3,522 4.58%
    38% 8 $3,520,000 $440,000 $4,794 4.00%
    40% 8 $3,690,000 $461,250 $4,941 3.98%
    36% 6 $1,900,000 $316,667 $3,658 4.37%
    41% 5 $2,505,000 $501,000 $4,332 4.42%
    37% 3 $1,625,000 $541,667 $5,701 4.37%
    43% 3 $1,475,000 $491,667 $5,333 4.00%
    39% 2 $790,000 $395,000 $2,338 4.63%
    44% 1 $235,000 $235,000 $6,004 5.63%

    Bogota Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 35 originations. The next most common DTI ratio? 20-30%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $42,595,000 $430,253 $4,648 4.14%
    Not provided 12 $7,070,000 $589,167 $5,242 4.12%
    Not applicable 9 $4,605,000 $511,667 $0 4.29%
    Asian 5 $2,215,000 $443,000 $5,196 4.48%
    Other Pacific Islander 1 $445,000 $445,000 $6,350 5.88%
    Black 3 $315,000 $105,000 $0 5.33%
    Asian Indian 1 $305,000 $305,000 $7,898 6.88%

    Approval Rates

    Total approvals of all applications
    95.72%

    Bogota Savings Bank 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
    75.38%

    Bogota Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 130 $57,550,000 $442,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    130 $57,550,000 $442,692

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $6,170,000 $440,714 $3,746 4.18%
    40-60% 20 $7,550,000 $377,500 $5,811 4.15%
    60-80% 48 $26,330,000 $548,542 $5,727 4.14%
    80-100% 28 $15,700,000 $560,714 $5,586 4.31%
    Under 20% 20 $1,800,000 $90,000 $568 4.38%