The Luzerne Bank Mortgage Rates, Fees & Info
Luzerne, PALEI: 549300EJ89CA12ZT7X03
Tax ID: 24-0648945
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Mortgage Data
Review & Overview
The Luzerne Bank is a smaller bank specializing in Home Purchase loans. The Luzerne Bank has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Allentown, Pottsville, New York, and Bloomsburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)The Luzerne 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. The Luzerne Bank is typically an average 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.51% | 11/17/24 |
| 30 Year Cash-out Refi | 6.38% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
The Luzerne Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from The Luzerne Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
503Origination Dollar Volume (All Markets)
$69,275,000Relative Rate
The Luzerne Bank's average 30 year fixed mortgage rate was
6.67%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.19%.
Relative Fees (Closing Costs)
The Luzerne Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,489.
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 |
|---|---|---|---|---|---|
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 461 | $62,415,000 | $135,390 | $5,895 | 6.33% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 13 | $2,725,000 | $209,615 | $9,118 | 6.97% |
| Pottsville, PA (FHA|USDA|VA) | 18 | $2,260,000 | $125,556 | $6,964 | 6.99% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $0 | 6.50% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $0 | 6.49% |
| READING, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,222 | 6.50% |
| Sayre, PA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 5.87% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against The Luzerne 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 |
|---|---|---|---|---|---|
| HELOC | 327 | $33,745,000 | $103,196 | n/a | 6.00% |
| Conventional | 176 | $35,530,000 | $201,875 | $6,072 | 7.05% |
For 2023, The Luzerne Bank's most frequently originated type of loan was HELOC, with 327 originations. Their 2nd most popular type was Conventional, with 176 originations.
Loan Reason
For 2023, The Luzerne Bank's most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was Home Improvement, with 150 originations.
Loan Duration/Length
For 2023, The Luzerne Bank's most frequently cited loan duration was Other, with 388 originations. The 2nd most popular length was 30 Year, with 53 originations.
Origination Fees/Closing Costs
The Luzerne Bank's average total fees were $5,489, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 24 originations.
Interest Rates
During 2023, The Luzerne Bank's average interest rate for loans was 6.67%, while their most frequently originated rate bucket for loans was 6-7%, with 205 originations.
Loan Sizing
2023 saw The Luzerne Bank place emphasis on $100,000 or less loans with 249 originations, totaling $13,345,000 in origination value.
Applicant Income
The Luzerne Bank lent most frequently to those with incomes in the $50k-75k range, with 95 originations. The second most popular income band? $100k-150k, with 84 originations.
Applicant Debt to Income Ratio
The Luzerne Bank lent most frequently to those with DTI ratios of 20-30%, with 112 originations. The next most common DTI ratio? 30-36%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.05%
The Luzerne Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.28%
The Luzerne Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 503 | $69,275,000 | $137,724 |