First Central Savings Bank Mortgage Rates, Fees & Info
Glen Cove, NYLEI: 549300F1COXL6UBFCP55
Tax ID: 52-2140279
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Mortgage Data
Review & Overview
First Central Savings Bank is a smaller bank specializing in Home Purchase loans. First Central Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Orlando, Poughkeepsie, and Granbury among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)First Central Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Central Savings Bank is typically a high 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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Originations
315Origination Dollar Volume (All Markets)
$215,145,000Relative Rate
First Central Savings Bank's average 30 year fixed mortgage rate was
7.64%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.16%.
Relative Fees (Closing Costs)
First Central Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $14,710.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 261 | $187,745,000 | $719,330 | $15,099 | 7.54% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 15 | $10,305,000 | $687,000 | $15,211 | 7.43% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 6 | $3,890,000 | $648,333 | $0 | 7.27% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 6 | $3,210,000 | $535,000 | $9,081 | 9.04% |
| Granbury, TX (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $0 | 8.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $11,230 | 7.88% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $10,518 | 9.19% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $0 | 8.83% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 8.69% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $10,037 | 7.44% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 8.00% |
| Outside of Metro Areas | 1 | $415,000 | $415,000 | $0 | 9.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 8.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $13,033 | 7.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 6.50% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $12,793 | 8.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 6.38% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,899 | 7.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,242 | 8.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,523 | 8.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 6.38% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,151 | 8.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Central Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 126
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 315 | $215,145,000 | $683,000 | $14,710 | 7.61% |
For 2023, First Central Savings Bank's most frequently originated type of loan was Conventional, with 315 originations.
Loan Reason
For 2023, First Central Savings Bank's most frequently cited loan purpose was Home Purchase, with 268 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.
Loan Duration/Length
For 2023, First Central Savings Bank's most frequently cited loan duration was 30 Year, with 307 originations. The 2nd most popular length was 10 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 121 | $81,125,000 | $670,455 |
| $4k-5k | 14 | $8,000,000 | $571,429 |
| $2k-3k | 12 | $5,400,000 | $450,000 |
| $3k-4k | 9 | $5,545,000 | $616,111 |
First Central Savings Bank's average total fees were $14,710, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 121 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 119 | $75,405,000 | $633,655 |
| 7-8% | 101 | $71,885,000 | $711,733 |
| Over 8% | 94 | $64,450,000 | $685,638 |
| 5-6% | 1 | $3,405,000 | $3,405,000 |
During 2023, First Central Savings Bank's average interest rate for loans was 7.64%, while their most frequently originated rate bucket for loans was 6-7%, with 119 originations.
Loan Sizing
2023 saw First Central Savings Bank place emphasis on $400k-600k loans with 111 originations, totaling $54,385,000 in origination value.
Applicant Income
First Central Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 80 originations. The second most popular income band? $150k-250k, with 71 originations.
Applicant Debt to Income Ratio
First Central Savings Bank lent most frequently to those with DTI ratios of 50-60%, with 53 originations. The next most common DTI ratio? 20-30%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.94%
First Central Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.37%
First Central Savings Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 315 | $215,145,000 | $683,000 |