Oswego County Mortgage Rates, Fees & Info
Oswego, NYLEI: 549300D6JK30QTSRHB52
Tax ID: 16-1074769
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Mortgage Data
Review & Overview
Oswego County is a smaller mortgage company specializing in Cash Out Refi, Home Improvement, and Other loans. Oswego County has a high proportion of conventional loans. Oswego County has an average proportion of conventional loans. Their top two markets are Syracuse and North Port .Oswego County has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Oswego County is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.52% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.89% | 11/17/24 |
| 15 Year Conventional Purchase | 6.31% | 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. | ||
Oswego County Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
151Origination Dollar Volume (All Markets)
$9,085,000Relative Rate
Oswego County's average 30 year fixed mortgage rate was
6.35%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Oswego County's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,921.
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 |
|---|---|---|---|---|---|
| SYRACUSE, NY (FHA|USDA|VA) | 149 | $8,975,000 | $60,235 | $3,889 | 6.26% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,742 | 5.75% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 141 | $8,045,000 | $57,057 | $0 | 0.00% |
| Conventional | 10 | $1,040,000 | $104,000 | $3,975 | 6.21% |
For 2023, Oswego County's most frequently originated type of loan was Conventional, with 141 originations. Their 2nd most popular type was Conventional, with 10 originations.
Loan Reason
For 2023, Oswego County's most frequently cited loan purpose was Cash Out Refi, with 53 originations. The 2nd most popular reason was Home Improvement, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 141 | $8,045,000 | $57,057 | $0 | 0.00% |
| 30 Year | 9 | $955,000 | $106,111 | $3,921 | 6.35% |
| 15 Year | 1 | $85,000 | $85,000 | $4,459 | 5.00% |
For 2023, Oswego County's most frequently cited loan duration was Other, with 141 originations. The 2nd most popular length was 30 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 4 | $510,000 | $127,500 |
| $1k-2k | 4 | $350,000 | $87,500 |
| $2k-3k | 2 | $180,000 | $90,000 |
Oswego County's average total fees were $3,921, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 4 | $350,000 | $87,500 |
| 6-7% | 4 | $490,000 | $122,500 |
| 4-5% | 1 | $85,000 | $85,000 |
| 7-8% | 1 | $115,000 | $115,000 |
During 2023, Oswego County's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was 5-6%, with 4 originations.
Loan Sizing
2023 saw Oswego County place emphasis on $100,000 or less loans with 129 originations, totaling $5,895,000 in origination value.
Applicant Income
Oswego County lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $50k-75k, with 32 originations.
Applicant Debt to Income Ratio
Oswego County lent most frequently to those with DTI ratios of Exempt%, with 141 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.55%
Oswego County has a below average approval rate.
Pick Rate
Approvals leading to origination83.44%
Oswego County has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 141 | $8,045,000 | $57,057 |
| NA | 10 | $1,040,000 | $104,000 |