Lynx Mortgage Bank Rates, Fees & Info
WESTBURY, NYLEI: 549300A7YGYUVVWJ2M57
Tax ID: 32-0117926
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Mortgage Data
Review & Overview
Lynx Mortgage Bank is a smaller bank specializing in Home Purchase loans. Lynx Mortgage Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Tampa, Poughkeepsie, Miami, and Albany among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Lynx Mortgage 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. Lynx Mortgage Bank is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 12/16/24 |
| 30 Year Conventional Refi | 6.59% | 12/16/24 |
| 30 Year FHA Purchase | 7.16% | 12/16/24 |
| 30 Year FHA Refi | 7.02% | 12/16/24 |
| 15 Year Conventional Purchase | 5.97% | 12/16/24 |
| 15 Year Conventional Refi | 6.06% | 12/16/24 |
| 15 Year Cash-out Refi | 6.06% | 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. | ||
Lynx Mortgage Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Lynx Mortgage Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
207Origination Dollar Volume (All Markets)
$99,015,000Relative Rate
Lynx Mortgage Bank's average 30 year fixed mortgage rate was
6.88%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.4%.
Relative Fees (Closing Costs)
Lynx Mortgage Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,457.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 186 | $90,150,000 | $484,677 | $9,431 | 6.84% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $3,730,000 | $621,667 | $11,325 | 7.52% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 4 | $1,260,000 | $315,000 | $8,363 | 6.65% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $8,197 | 8.13% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $11,967 | 6.63% |
| Outside of Metro Areas | 1 | $525,000 | $525,000 | $9,750 | 5.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,703 | 6.63% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,718 | 6.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,633 | 7.50% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,239 | 8.63% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,444 | 6.75% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,431 | 7.63% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $7,651 | 7.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against LYNX MORTGAGE BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 126
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 186 | $86,470,000 | $464,892 | $8,252 | 6.89% |
| FHA | 20 | $11,870,000 | $593,500 | $19,816 | 6.80% |
| VA | 1 | $675,000 | $675,000 | $6,293 | 6.75% |
For 2023, Lynx Mortgage Bank's most frequently originated type of loan was Conventional, with 186 originations. Their 2nd most popular type was FHA, with 20 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 177 | $85,165,000 | $481,158 | $9,477 | 6.83% |
| Refi | 30 | $13,850,000 | $461,667 | $8,706 | 7.20% |
For 2023, Lynx Mortgage Bank's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Refi, with 30 originations.
Loan Duration/Length
For 2023, Lynx Mortgage Bank's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Lynx Mortgage Bank's average total fees were $9,457, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 83 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 133 | $63,725,000 | $479,135 |
| 7-8% | 49 | $23,565,000 | $480,918 |
| Over 8% | 13 | $7,195,000 | $553,462 |
| 5-6% | 12 | $4,530,000 | $377,500 |
During 2023, Lynx Mortgage Bank's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 133 originations.
Loan Sizing
2023 saw Lynx Mortgage Bank place emphasis on $400k-600k loans with 79 originations, totaling $39,215,000 in origination value.
Applicant Income
Lynx Mortgage Bank lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $100k-150k, with 69 originations.
Applicant Debt to Income Ratio
Lynx Mortgage Bank lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 27 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.43%
Lynx Mortgage 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 origination84.54%
Lynx Mortgage Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 207 | $99,015,000 | $478,333 |