Solvay Bank Mortgage Rates, Fees & Info
Solvay, NYLEI: 549300BOYV1JVWTO8O89
Tax ID: 15-0454140
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Solvay Bank is a smaller bank specializing in Home Purchase and Home Improvement loans. Solvay Bank has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Auburn, Binghamton, Rochester, and Watertown among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Solvay 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.
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Originations
166Origination Dollar Volume (All Markets)
$47,200,000Top 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 |
|---|---|---|---|---|---|
| SYRACUSE, NY (FHA|USDA|VA) | 158 | $44,240,000 | $280,000 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $0 | 0.00% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 166 | $47,200,000 | $284,337 | $0 | 0.00% |
For 2023, Solvay Bank's most frequently originated type of loan was Conventional, with 166 originations.
Loan Reason
For 2023, Solvay Bank's most frequently cited loan purpose was Home Purchase, with 97 originations. The 2nd most popular reason was Home Improvement, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 166 | $47,200,000 | $284,337 | $0 | 0.00% |
For 2023, Solvay Bank's most frequently cited loan duration was Other, with 166 originations.
Loan Sizing
2023 saw Solvay Bank place emphasis on $100,000 or less loans with 54 originations, totaling $2,670,000 in origination value.
Applicant Income
Solvay Bank lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 166 | $47,200,000 | $284,337 | $0 | 0.00% |
Solvay Bank lent most frequently to those with DTI ratios of Exempt%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.19%
Solvay Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.13%
Solvay Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 166 | $47,200,000 | $284,337 |