Popular Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 549300E0WPRCJMXMUM09

Tax ID: 52-2126008

2.3 stars - Updated: 9/18/23 - out of 5 stars, based on 20 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Popular Bank is a smaller bank specializing in Home Purchase and Refi loans. Popular Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Key West, Houston, and Tampa among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Popular Bank 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. Popular 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.17% 9/18/23
    30 Year Conventional Refi 6.21% 9/18/23
    30 Year Cash-out Refi 6.38% 9/18/23
    15 Year Conventional Purchase 6.14% 9/18/23
    15 Year Conventional Refi 6.03% 9/18/23
    15 Year Cash-out Refi 6.03% 9/18/23
    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.

    Popular Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Popular Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    408

    Origination Dollar Volume (All Markets)

    $922,010,000

    Awards

    Popular Bank 30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Popular Bank's average 30 year fixed mortgage rate was 4.11%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.65%.

    Relative Fees (Closing Costs)

    Popular Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $11,131.

    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 $4,750.

    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) 243 $667,955,000 $2,748,786 $11,179 3.95%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 128 $202,540,000 $1,582,344 $10,272 4.13%
    Key West, FL (FHA|USDA|VA) 6 $13,200,000 $2,200,000 $15,692 4.13%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $9,005,000 $9,005,000 $0 5.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $6,710,000 $1,677,500 $0 4.83%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $4,275,000 $4,275,000 $0 3.85%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $0 7.05%
    KINGSTON, NY (FHA|USDA|VA) 1 $3,355,000 $3,355,000 $32,845 4.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $2,485,000 $828,333 $9,350 4.58%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 5 $1,715,000 $343,000 $6,796 4.90%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $13,000 4.50%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $14,228 3.38%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $785,000 $785,000 $0 4.63%
    Clewiston, FL (FHA|USDA|VA) 1 $645,000 $645,000 $8,957 5.25%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $615,000 $615,000 $0 3.98%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $550,000 $275,000 $6,889 4.81%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $375,000 $375,000 $0 7.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $365,000 $365,000 $4,716 4.50%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $345,000 $345,000 $0 4.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,299 2.88%
    PEORIA, IL (FHA|USDA|VA) 1 $145,000 $145,000 $4,531 4.13%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $135,000 $135,000 $4,404 3.50%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $4,603 4.38%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $125,000 $125,000 $4,794 3.00%
    Popular Bank's top markets include New York, Miami, Key West, Houston, and Tampa among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Popular Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Schuyler Savings Bank
    Similarity Rank: 352
    The First National Bank of Long Island
    Similarity Rank: 374
    The Atlantic Federal Credit Union
    Similarity Rank: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 624
    CCFCU FUNDING, LLC
    Similarity Rank: 672
    MID-HUDSON VALLEY
    Similarity Rank: 728
    Walden Savings Bank
    Similarity Rank: 836

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 408 $922,010,000 $2,259,828 $10,832 4.06%

    For 2022, Popular Bank's most frequently originated type of loan was Conventional, with 408 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 266 $514,670,000 $1,934,850 $11,051 4.19%
    Refi 87 $370,695,000 $4,260,862 $9,260 3.75%
    Cash Out Refi 49 $33,445,000 $682,551 $11,121 3.96%
    Other 6 $3,200,000 $533,333 $6,608 3.38%

    For 2022, Popular Bank's most frequently cited loan purpose was Home Purchase, with 266 originations. The 2nd most popular reason was Refi, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 285 $230,465,000 $808,649 $11,131 4.11%
    10 Year 62 $200,030,000 $3,226,290 $0 3.89%
    5 Year 35 $314,755,000 $8,993,000 $0 4.31%
    15 Year 15 $4,055,000 $270,333 $5,517 3.35%
    Other 9 $116,595,000 $12,955,000 $0 3.57%
    3 Year 2 $56,110,000 $28,055,000 $0 5.03%

    For 2022, Popular Bank's most frequently cited loan duration was 30 Year, with 285 originations. The 2nd most popular length was 10 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 99 $110,395,000 $1,115,101
    $1k-2k 67 $37,895,000 $565,597
    $3k-4k 32 $16,380,000 $511,875
    $2k-3k 30 $15,930,000 $531,000
    $4k-5k 25 $16,905,000 $676,200
    $<1k 10 $11,320,000 $1,132,000

    Popular Bank's average total fees were $11,131, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 177 $556,645,000 $3,144,887
    4-5% 97 $138,845,000 $1,431,392
    5-6% 61 $138,485,000 $2,270,246
    2.5-3% 59 $66,355,000 $1,124,661
    6-7% 12 $17,300,000 $1,441,667
    7-8% 2 $4,380,000 $2,190,000

    During 2022, Popular Bank's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 160 $787,980,000 $4,924,875 $17,799 3.82%
    $600k-1MM 108 $83,540,000 $773,519 $10,412 4.05%
    $400k-600k 64 $31,780,000 $496,563 $8,253 4.29%
    $200k-400k 49 $14,775,000 $301,531 $6,889 4.43%
    $100k-200k 24 $3,700,000 $154,167 $5,019 4.37%
    $100,000 or less 3 $235,000 $78,333 $3,708 3.71%

    2022 saw Popular Bank place emphasis on $1MM+ loans with 160 originations, totaling $787,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 130 $147,920,000 $1,137,846 $13,980 3.91%
    $150k-250k 93 $61,205,000 $658,118 $10,124 4.18%
    $100k-150k 40 $16,250,000 $406,250 $7,646 4.21%
    $75k-100k 16 $5,410,000 $338,125 $7,156 4.40%
    $50k or less 11 $1,425,000 $129,545 $4,368 4.32%
    $50k-75k 10 $2,310,000 $231,000 $6,905 3.90%

    Popular Bank lent most frequently to those with incomes in the $250k+ range, with 130 originations. The second most popular income band? $150k-250k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 67 $54,335,000 $810,970 $10,413 4.17%
    20-30% 47 $45,775,000 $973,936 $9,953 3.96%
    <20% 21 $20,125,000 $958,333 $14,341 3.71%
    47% 17 $15,845,000 $932,059 $12,522 4.29%
    42% 16 $10,530,000 $658,125 $10,809 4.23%
    49% 16 $5,190,000 $324,375 $8,116 4.40%
    39% 14 $12,490,000 $892,143 $10,131 4.00%
    41% 14 $9,970,000 $712,143 $11,082 4.04%
    40% 13 $8,275,000 $636,538 $6,916 4.05%
    37% 13 $9,405,000 $723,462 $10,531 3.96%
    45% 12 $7,870,000 $655,833 $11,252 3.78%
    44% 11 $6,635,000 $603,182 $11,671 3.91%
    36% 10 $7,760,000 $776,000 $13,644 4.64%
    46% 8 $8,260,000 $1,032,500 $16,766 3.77%
    43% 8 $6,540,000 $817,500 $13,329 3.91%
    48% 6 $3,200,000 $533,333 $12,899 4.25%
    38% 5 $1,855,000 $371,000 $6,820 4.50%
    50-60% 2 $460,000 $230,000 $7,641 3.50%

    Popular Bank lent most frequently to those with DTI ratios of 30-36%, with 67 originations. The next most common DTI ratio? 20-30%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 108 $687,490,000 $6,365,648 $0 4.02%
    White 196 $155,980,000 $795,816 $10,535 4.04%
    Not provided 53 $37,185,000 $701,604 $10,571 4.15%
    Asian 40 $32,450,000 $811,250 $12,412 4.12%
    Black 10 $7,920,000 $792,000 $11,201 4.26%
    American Indian 1 $985,000 $985,000 $12,674 3.25%

    Approval Rates

    Total approvals of all applications
    81.55%

    Popular Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    65.20%

    Popular Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 408 $922,010,000 $2,259,828

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    408 $922,010,000 $2,259,828

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $29,375,000 $1,012,931 $7,194 3.81%
    40-60% 91 $177,545,000 $1,951,044 $9,248 4.03%
    60-80% 223 $656,185,000 $2,942,534 $12,070 4.10%
    80-100% 58 $43,590,000 $751,552 $11,042 4.10%
    Over 100% 2 $13,110,000 $6,555,000 $7,091 5.44%
    Under 20% 4 $1,550,000 $387,500 $7,038 3.44%