Glens Falls National Bank And Trust Company Mortgage Rates, Fees & Info
Glens Falls, NYLEI: 549300ERHDU3FCE3FA33
Tax ID: 14-0696635
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Mortgage Data
Review & Overview
Glens Falls National Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Glens Falls National Bank And Trust Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Glens Falls, Albany, Plattsburgh, Malone, and Gloversville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Glens Falls National Bank And Trust Company 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. Glens Falls National Bank And Trust Company 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.80% | 11/17/24 |
| 30 Year Conventional Purchase | 6.45% | 11/17/24 |
| 30 Year Conventional Refi | 6.71% | 11/17/24 |
| 30 Year Cash-out Refi | 6.74% | 11/17/24 |
| 30 Year FHA Purchase | 7.36% | 11/17/24 |
| 30 Year FHA Refi | 7.36% | 11/17/24 |
| 30 Year VA Purchase | 6.82% | 11/17/24 |
| 30 Year USDA Purchase | 7.24% | 11/17/24 |
| 15 Year Conventional Purchase | 5.86% | 11/17/24 |
| 15 Year Conventional Refi | 6.10% | 11/17/24 |
| 15 Year Cash-out Refi | 6.10% | 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. | ||
Glens Falls National Bank And Trust Company Mortgage Calculator
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This is not an official calculator from Glens Falls National Bank And Trust Company. 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
497Origination Dollar Volume (All Markets)
$164,205,000Awards
Glens Falls National Bank and Trust Company - 2023
Glens Falls National Bank and Trust Company is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Glens Falls National Bank And Trust Company's average 30 year fixed mortgage rate was
4.95%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -1.53%.
Relative Fees (Closing Costs)
Glens Falls National Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,916.
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 |
|---|---|---|---|---|---|
| GLENS FALLS, NY (FHA|USDA|VA) | 305 | $124,345,000 | $407,689 | $3,931 | 5.21% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 78 | $20,400,000 | $261,538 | $4,128 | 5.25% |
| Plattsburgh, NY (FHA|USDA|VA) | 60 | $8,690,000 | $144,833 | $3,993 | 5.26% |
| Outside of Metro Areas | 40 | $7,890,000 | $197,250 | $4,260 | 5.15% |
| Malone, NY (FHA|USDA|VA) | 9 | $2,195,000 | $243,889 | $4,829 | 5.74% |
| Gloversville, NY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,794 | 6.56% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,768 | 5.75% |
| Bennington, VT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.99% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Glens Falls National Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 32
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Similarity Rank: 165
Similarity Rank: 300
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Similarity Rank: 420
Similarity Rank: 588
Similarity Rank: 624
Product Mix
For 2023, Glens Falls National Bank And Trust Company's most frequently originated type of loan was Conventional, with 310 originations. Their 2nd most popular type was HELOC, with 181 originations.
Loan Reason
For 2023, Glens Falls National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 273 originations. The 2nd most popular reason was Home Improvement, with 129 originations.
Loan Duration/Length
For 2023, Glens Falls National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 385 originations. The 2nd most popular length was 30+ year, with 47 originations.
Origination Fees/Closing Costs
Glens Falls National Bank And Trust Company's average total fees were $3,916, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 201 originations.
Interest Rates
During 2023, Glens Falls National Bank And Trust Company's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 3-4%, with 165 originations.
Loan Sizing
2023 saw Glens Falls National Bank And Trust Company place emphasis on $100,000 or less loans with 170 originations, totaling $8,900,000 in origination value.
Applicant Income
Glens Falls National Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 84 originations.
Applicant Debt to Income Ratio
Glens Falls National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.65%
Glens Falls National Bank And Trust Company has a below average approval rate.
Pick Rate
Approvals leading to origination77.06%
Glens Falls National Bank And Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 497 | $164,205,000 | $330,392 |