Solvay Bank Mortgage Rates, Fees & Info

Solvay, NY

LEI: 549300BOYV1JVWTO8O89

Tax ID: 15-0454140

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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

166

Origination Dollar Volume (All Markets)

$47,200,000

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
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%
Solvay Bank's top markets include Syracuse, Auburn, Binghamton, Rochester, and Watertown among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 97 $26,835,000 $276,649 $0 0.00%
    Home Improvement 30 $11,130,000 $371,000 $0 0.00%
    Cash Out Refi 17 $1,775,000 $104,412 $0 0.00%
    Other 16 $1,120,000 $70,000 $0 0.00%
    Refi 6 $6,340,000 $1,056,667 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 54 $2,670,000 $49,444 $0 0.00%
    $100k-200k 47 $6,965,000 $148,191 $0 0.00%
    $200k-400k 44 $13,030,000 $296,136 $0 0.00%
    $400k-600k 10 $4,820,000 $482,000 $0 0.00%
    $600k-1MM 7 $4,935,000 $705,000 $0 0.00%
    $1MM+ 4 $14,780,000 $3,695,000 $0 0.00%

    2023 saw Solvay Bank place emphasis on $100,000 or less loans with 54 originations, totaling $2,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 41 $7,665,000 $186,951 $0 0.00%
    $50k-75k 29 $2,845,000 $98,103 $0 0.00%
    $150k-250k 28 $8,050,000 $287,500 $0 0.00%
    $250k+ 20 $7,590,000 $379,500 $0 0.00%
    $75k-100k 18 $2,410,000 $133,889 $0 0.00%
    $50k or less 16 $1,150,000 $71,875 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 111 $24,055,000 $216,712 $0 0.00%
    Not applicable 11 $16,925,000 $1,538,636 $0 0.00%
    Not provided 32 $3,160,000 $98,750 $0 0.00%
    American Indian 4 $1,290,000 $322,500 $0 0.00%
    Asian 4 $1,150,000 $287,500 $0 0.00%
    Asian Indian 1 $355,000 $355,000 $0 0.00%
    Black 2 $160,000 $80,000 $0 0.00%
    Other Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.19%

    Solvay Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.13%

    Solvay Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 166 $47,200,000 $284,337

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    166 $47,200,000 $284,337