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 and Cash Out Refi 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, Rutland, and Utica 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 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 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% | 4/28/24 |
| 30 Year Conventional Purchase | 6.45% | 4/28/24 |
| 30 Year Conventional Refi | 6.71% | 4/28/24 |
| 30 Year Cash-out Refi | 6.74% | 4/28/24 |
| 30 Year FHA Purchase | 7.36% | 4/28/24 |
| 30 Year FHA Refi | 7.36% | 4/28/24 |
| 30 Year VA Purchase | 6.82% | 4/28/24 |
| 30 Year USDA Purchase | 7.24% | 4/28/24 |
| 15 Year Conventional Purchase | 5.86% | 4/28/24 |
| 15 Year Conventional Refi | 6.10% | 4/28/24 |
| 15 Year Cash-out Refi | 6.10% | 4/28/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
710Origination Dollar Volume (All Markets)
$195,350,000Awards
Glens Falls National Bank and Trust Company - 2022
Glens Falls National Bank and Trust Company 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 |
|---|---|---|---|---|---|
| GLENS FALLS, NY (FHA|USDA|VA) | 429 | $127,965,000 | $298,287 | $4,681 | 3.93% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 115 | $35,395,000 | $307,783 | $4,229 | 4.05% |
| Plattsburgh, NY (FHA|USDA|VA) | 84 | $14,580,000 | $173,571 | $3,150 | 4.24% |
| Outside of Metro Areas | 62 | $12,630,000 | $203,710 | $4,581 | 3.88% |
| Rutland, VT (FHA|USDA|VA) | 5 | $2,285,000 | $457,000 | $5,178 | 3.79% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $6,678 | 6.13% |
| Gloversville, NY (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $5,158 | 5.23% |
| Amsterdam, NY (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $3,486 | 4.84% |
| Malone, NY (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $4,242 | 3.84% |
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.
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Product Mix
For 2022, Glens Falls National Bank And Trust Company's most frequently originated type of loan was Conventional, with 435 originations. Their 2nd most popular type was HELOC, with 263 originations.
Loan Reason
For 2022, Glens Falls National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 346 originations. The 2nd most popular reason was Home Improvement, with 188 originations.
Loan Duration/Length
For 2022, Glens Falls National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 532 originations. The 2nd most popular length was 30+ year, with 51 originations.
Origination Fees/Closing Costs
Glens Falls National Bank And Trust Company's average total fees were $4,730, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 219 originations.
Interest Rates
During 2022, Glens Falls National Bank And Trust Company's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 246 originations.
Loan Sizing
2022 saw Glens Falls National Bank And Trust Company place emphasis on $100,000 or less loans with 247 originations, totaling $12,795,000 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 153 originations. The second most popular income band? $50k-75k, with 146 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 148 originations. The next most common DTI ratio? 30-36%, with 146 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.59%
Glens Falls National Bank And Trust Company has a below average approval rate.
Pick Rate
Approvals leading to origination71.41%
Glens Falls National Bank And Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 710 | $195,350,000 | $275,141 |