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 and Refi 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, Kingston, Albany, and Poughkeepsie among others. We have data for 5 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 an above average pick rate when compared to similar lenders. Lynx Mortgage 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 11/17/24 |
| 30 Year Conventional Refi | 6.59% | 11/17/24 |
| 30 Year FHA Purchase | 7.16% | 11/17/24 |
| 30 Year FHA Refi | 7.02% | 11/17/24 |
| 15 Year Conventional Purchase | 5.97% | 11/17/24 |
| 15 Year Conventional Refi | 6.06% | 11/17/24 |
| 15 Year Cash-out Refi | 6.06% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
254Origination Dollar Volume (All Markets)
$98,300,000Top 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) | 250 | $97,530,000 | $390,120 | $6,822 | 4.83% |
| Outside of Metro Areas | 1 | $255,000 | $255,000 | $3,992 | 4.88% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,640 | 4.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,113 | 4.13% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,813 | 5.75% |
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: 55
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 207 | $78,215,000 | $377,850 | $5,458 | 4.83% |
| FHA | 45 | $19,485,000 | $433,000 | $12,769 | 4.71% |
| HELOC | 2 | $600,000 | $300,000 | n/a | 7.25% |
For 2018, Lynx Mortgage Bank's most frequently originated type of loan was Conventional, with 207 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 194 | $76,900,000 | $396,392 | $6,736 | 4.78% |
| Refi | 60 | $21,400,000 | $356,667 | $6,925 | 5.01% |
For 2018, Lynx Mortgage Bank's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Refi, with 60 originations.
Loan Duration/Length
For 2018, Lynx Mortgage Bank's most frequently cited loan duration was 30 Year, with 244 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Lynx Mortgage Bank's average total fees were $6,860, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 158 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 184 | $70,080,000 | $380,870 |
| 5-6% | 52 | $22,510,000 | $432,885 |
| 3-4% | 10 | $3,280,000 | $328,000 |
| 6-7% | 5 | $1,515,000 | $303,000 |
| 7-8% | 3 | $915,000 | $305,000 |
During 2018, Lynx Mortgage Bank's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 184 originations.
Loan Sizing
2018 saw Lynx Mortgage Bank place emphasis on $200k-400k loans with 127 originations, totaling $39,795,000 in origination value.
Applicant Income
Lynx Mortgage Bank lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $150k-250k, with 56 originations.
Applicant Debt to Income Ratio
Lynx Mortgage Bank lent most frequently to those with DTI ratios of 30-36%, with 31 originations. The next most common DTI ratio? 50-60%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.97%
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 origination90.16%
Lynx Mortgage Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1207.8 | 1 | $35,000 | $35,000 |
| 1655.0 | 1 | $195,000 | $195,000 |
| 745.0 | 1 | $95,000 | $95,000 |
| NA | 251 | $97,975,000 | $390,339 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 254 | $98,300,000 | $387,008 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LOAN SIMPLE INC. | FHA mortgage | Closing on a mortgage | 1 | 50.0% |
| LOAN SIMPLE INC. | FHA mortgage | Trouble during payment process | 1 | 50.0% |