Popular Bank Mortgage Rates, Fees & Info
New York, NYLEI: 549300E0WPRCJMXMUM09
Tax ID: 52-2126008
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.17% | 11/17/24 |
| 30 Year Conventional Refi | 6.21% | 11/17/24 |
| 30 Year Cash-out Refi | 6.38% | 11/17/24 |
| 15 Year Conventional Purchase | 6.14% | 11/17/24 |
| 15 Year Conventional Refi | 6.03% | 11/17/24 |
| 15 Year Cash-out Refi | 6.03% | 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. | ||
Popular Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
408Origination Dollar Volume (All Markets)
$922,010,000Awards
Popular Bank - 2022
Popular Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
2022 saw Popular Bank place emphasis on $1MM+ loans with 160 originations, totaling $787,980,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications81.55%
Popular Bank has a below average approval rate.
Pick Rate
Approvals leading to origination65.20%
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 |