Adirondack Bank Mortgage Rates, Fees & Info

Utica, NY

LEI: 549300EZG6KIP4HOUR65

Tax ID: 15-0438700

5 stars - Updated: 12/16/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Adirondack Bank is a smaller bank specializing in Home Purchase and Refi loans. Adirondack Bank has a high proportion of conventional loans. Their top markets by origination volume include: Utica, Syracuse, Malone, Glens Falls, and Watertown among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Adirondack 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. Adirondack 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.44% 12/16/24
    30 Year Conventional Refi 6.34% 12/16/24
    30 Year Cash-out Refi 6.39% 12/16/24
    15 Year Conventional Purchase 5.70% 12/16/24
    15 Year Conventional Refi 5.08% 12/16/24
    15 Year Cash-out Refi 5.08% 12/16/24
    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.

    Adirondack Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Adirondack Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    346

    Origination Dollar Volume (All Markets)

    $57,200,000

    Awards

    Adirondack Bank 30 Year Conventional Loans bronze Adirondack Bank 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Adirondack Bank's average 30 year fixed mortgage rate was 6.24%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.24%.

    Relative Fees (Closing Costs)

    Adirondack Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,728.

    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
    UTICA-ROME, NY (FHA|USDA|VA) 284 $45,690,000 $160,880 $1,789 5.83%
    Outside of Metro Areas 23 $4,635,000 $201,522 $1,725 5.82%
    SYRACUSE, NY (FHA|USDA|VA) 15 $3,045,000 $203,000 $2,177 5.81%
    Malone, NY (FHA|USDA|VA) 9 $1,905,000 $211,667 $1,824 5.18%
    GLENS FALLS, NY (FHA|USDA|VA) 2 $770,000 $385,000 $3,867 5.75%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $370,000 $185,000 $5,179 6.63%
    Plattsburgh, NY (FHA|USDA|VA) 5 $275,000 $55,000 $50 4.60%
    Oneonta, NY (FHA|USDA|VA) 2 $160,000 $80,000 $0 5.50%
    Seneca Falls, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.99%
    ROCHESTER, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,085 6.88%
    Gloversville, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.99%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.49%
    Adirondack Bank's top markets include Utica, Syracuse, Malone, Glens Falls, and Watertown among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Adirondack Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GPO Federal Credit Union
    Similarity Rank: 72
    FIRST SOURCE
    Similarity Rank: 104
    Geddes Federal Savings and Loan Association
    Similarity Rank: 112
    Adirondack Bank
    Similarity Rank: 144
    SEFCU SERVICES, LLC
    Similarity Rank: 280
    AMERICU Credit Union
    Similarity Rank: 336
    NBT Bank
    Similarity Rank: 423
    Community Bank
    Similarity Rank: 741
    PARAGON HOME LOANS INC.
    Similarity Rank: 1023
    Premium Mortgage Corporation
    Similarity Rank: 1431

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 346 $57,200,000 $165,318 $1,774 5.79%

    For 2023, Adirondack Bank's most frequently originated type of loan was Conventional, with 346 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 175 $35,195,000 $201,114 $3,462 6.23%
    Home Improvement 76 $6,880,000 $90,526 $82 5.50%
    Refi 67 $11,505,000 $171,716 $127 5.13%
    Other 22 $2,320,000 $105,455 $282 5.35%
    Cash Out Refi 6 $1,300,000 $216,667 $3,142 5.58%

    For 2023, Adirondack Bank's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Home Improvement, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 137 $28,315,000 $206,679 $3,728 6.24%
    20 Year 79 $12,285,000 $155,506 $558 5.64%
    10 Year 57 $4,345,000 $76,228 $125 5.27%
    15 Year 52 $5,350,000 $102,885 $704 5.67%
    5 Year 15 $1,085,000 $72,333 $105 4.56%
    30+ year 4 $1,320,000 $330,000 $6,164 7.00%
    Other 2 $4,500,000 $2,250,000 $0 5.54%

    For 2023, Adirondack Bank's most frequently cited loan duration was 30 Year, with 137 originations. The 2nd most popular length was 20 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 275 $40,345,000 $146,709
    $1k-2k 17 $3,315,000 $195,000
    $2k-3k 11 $2,105,000 $191,364
    $3k-4k 11 $2,365,000 $215,000
    $4k-5k 4 $850,000 $212,500
    $5k+ 1 $595,000 $595,000

    Adirondack Bank's average total fees were $3,728, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 275 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 128 $24,980,000 $195,156
    6-7% 94 $15,870,000 $168,830
    4-5% 71 $8,325,000 $117,254
    7-8% 29 $4,825,000 $166,379
    3-4% 14 $2,040,000 $145,714
    Over 8% 10 $1,160,000 $116,000

    During 2023, Adirondack Bank's average interest rate for loans was 6.24%, while their most frequently originated rate bucket for loans was 5-6%, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 136 $7,840,000 $57,647 $411 5.58%
    $100k-200k 128 $18,530,000 $144,766 $2,123 5.97%
    $200k-400k 64 $17,600,000 $275,000 $3,294 5.89%
    $400k-600k 11 $5,295,000 $481,364 $4,014 6.24%
    $600k-1MM 6 $4,240,000 $706,667 $4,192 4.84%
    $1MM+ 1 $3,695,000 $3,695,000 $0 5.54%

    2023 saw Adirondack Bank place emphasis on $100,000 or less loans with 136 originations, totaling $7,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 68 $7,650,000 $112,500 $1,575 5.83%
    $100k-150k 66 $10,680,000 $161,818 $2,072 5.83%
    $75k-100k 64 $7,600,000 $118,750 $1,677 5.77%
    $50k or less 50 $4,100,000 $82,000 $1,269 5.75%
    $150k-250k 49 $10,015,000 $204,388 $2,043 5.63%
    $250k+ 37 $11,595,000 $313,378 $2,476 5.89%

    Adirondack Bank lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $100k-150k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $13,905,000 $146,368 $1,910 5.75%
    30-36% 62 $7,340,000 $118,387 $1,458 5.71%
    <20% 53 $8,245,000 $155,566 $1,305 5.44%
    39% 15 $3,515,000 $234,333 $3,224 6.10%
    50-60% 11 $1,445,000 $131,364 $295 5.54%
    48% 10 $1,970,000 $197,000 $1,581 6.30%
    46% 10 $1,660,000 $166,000 $1,355 6.24%
    49% 10 $1,730,000 $173,000 $1,849 6.35%
    41% 9 $1,295,000 $143,889 $2,165 5.68%
    42% 9 $1,085,000 $120,556 $1,360 6.10%
    43% 9 $1,545,000 $171,667 $2,177 5.69%
    37% 9 $1,575,000 $175,000 $2,874 5.86%
    36% 7 $835,000 $119,286 $789 5.32%
    40% 7 $1,725,000 $246,429 $3,356 6.36%
    44% 7 $1,385,000 $197,857 $2,676 6.09%
    45% 7 $1,855,000 $265,000 $3,892 6.12%
    47% 6 $510,000 $85,000 $504 5.71%
    38% 4 $500,000 $125,000 $2,149 5.72%

    Adirondack Bank lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 296 $43,350,000 $146,453 $1,682 5.75%
    Not applicable 6 $5,080,000 $846,667 $0 6.47%
    Asian 19 $3,545,000 $186,579 $3,580 6.23%
    Not provided 14 $3,300,000 $235,714 $1,696 5.45%
    American Indian 5 $945,000 $189,000 $1,592 5.17%
    Black 5 $655,000 $131,000 $2,034 6.88%
    Asian Indian 1 $325,000 $325,000 $3,494 6.88%

    Approval Rates

    Total approvals of all applications
    84.73%

    Adirondack Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.95%

    Adirondack Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 346 $57,200,000 $165,318

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    346 $57,200,000 $165,318

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 69 $6,785,000 $98,333 $263 5.44%
    40-60% 40 $9,490,000 $237,250 $1,247 5.51%
    60-80% 104 $19,850,000 $190,865 $2,185 5.82%
    80-100% 85 $18,265,000 $214,882 $3,817 6.34%
    Under 20% 48 $2,810,000 $58,542 $0 5.48%