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 Improvement and Home Purchase loans. The Luzerne Bank has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Pottsville, East Stroudsburg, Philadelphia, and Allentown among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)The Luzerne 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. The Luzerne Bank 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/18/25 |
| 30 Year Conventional Purchase | 7.58% | 4/18/25 |
| 30 Year Cash-out Refi | 7.74% | 4/18/25 |
| 15 Year Conventional Purchase | 6.00% | 4/18/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
403Origination Dollar Volume (All Markets)
$62,645,000Relative Rate
The Luzerne Bank's average 30 year fixed mortgage rate was
7.2%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.65%.
Relative Fees (Closing Costs)
The Luzerne Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,188.
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 $8,356.
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) | 369 | $58,045,000 | $157,304 | $7,129 | 6.63% |
| Pottsville, PA (FHA|USDA|VA) | 23 | $2,855,000 | $124,130 | $4,166 | 7.28% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $5,956 | 6.82% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 6.49% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $0 | 7.18% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.75% |
| Sayre, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.90% |
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 | 303 | $33,175,000 | $109,488 | n/a | 6.38% |
| Conventional | 100 | $29,470,000 | $294,700 | $6,669 | 7.57% |
For 2024, The Luzerne Bank's most frequently originated type of loan was HELOC, with 303 originations. Their 2nd most popular type was Conventional, with 100 originations.
Loan Reason
For 2024, The Luzerne Bank's most frequently cited loan purpose was Home Improvement, with 132 originations. The 2nd most popular reason was Home Purchase, with 121 originations.
Loan Duration/Length
For 2024, The Luzerne Bank's most frequently cited loan duration was Other, with 370 originations. The 2nd most popular length was 20 Year, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $680,000 | $170,000 |
| $2k-3k | 3 | $695,000 | $231,667 |
| $4k-5k | 1 | $345,000 | $345,000 |
| $5k+ | 1 | $605,000 | $605,000 |
The Luzerne Bank's average total fees were $5,188, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 213 | $37,075,000 | $174,061 |
| 5-6% | 101 | $10,795,000 | $106,881 |
| 7-8% | 74 | $13,180,000 | $178,108 |
| Over 8% | 15 | $1,595,000 | $106,333 |
During 2024, The Luzerne Bank's average interest rate for loans was 7.20%, while their most frequently originated rate bucket for loans was 6-7%, with 213 originations.
Loan Sizing
2024 saw The Luzerne Bank place emphasis on $100,000 or less loans with 214 originations, totaling $12,390,000 in origination value.
Applicant Income
The Luzerne Bank lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $50k-75k, with 59 originations.
Applicant Debt to Income Ratio
The Luzerne Bank lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.39%
The Luzerne Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.60%
The Luzerne Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 403 | $62,645,000 | $155,447 |