First Central Savings Bank Mortgage Rates, Fees & Info
Glen Cove, NYLEI: 549300F1COXL6UBFCP55
Tax ID: 52-2140279
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
First Central Savings Bank is a smaller bank specializing in Refi and Home Improvement loans. First Central Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.First Central Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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.
Originations
12Origination Dollar Volume (All Markets)
$38,160,000Top 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) | 12 | $38,160,000 | $3,180,000 | $0 | 5.48% |
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: 55
Similarity Rank: 63
Similarity Rank: 66
Similarity Rank: 80
Similarity Rank: 120
Similarity Rank: 120
Similarity Rank: 125
Similarity Rank: 156
Similarity Rank: 231
Similarity Rank: 248
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 12 | $38,160,000 | $3,180,000 | $0 | 5.48% |
For 2018, First Central Savings Bank's most frequently originated type of loan was Conventional, with 12 originations.
Loan Reason
For 2018, First Central Savings Bank's most frequently cited loan purpose was Refi, with 5 originations. The 2nd most popular reason was Home Improvement, with 4 originations.
Loan Duration/Length
For 2018, First Central Savings Bank's most frequently cited loan duration was 10 Year, with 3 originations. The 2nd most popular length was 3 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 5 | $24,455,000 | $4,891,000 |
| 4-5% | 3 | $2,765,000 | $921,667 |
| 3-4% | 2 | $3,610,000 | $1,805,000 |
| 5-6% | 2 | $7,330,000 | $3,665,000 |
During 2018, First Central Savings Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 9 | $35,875,000 | $3,986,111 | $0 | 5.72% |
| $600k-1MM | 3 | $2,285,000 | $761,667 | $0 | 4.75% |
2018 saw First Central Savings Bank place emphasis on $1MM+ loans with 9 originations, totaling $35,875,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 12 | $38,160,000 | $3,180,000 | $0 | 5.48% |
Approval Rates
Total approvals of all applications93.75%
First Central Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.00%
First Central Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 12 | $38,160,000 | $3,180,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 11 | $37,435,000 | $3,403,182 |
| Single Family (1-4 Units):Site-Built | 1 | $725,000 | $725,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 3 | $5,765,000 | $1,921,667 | $0 | 5.17% |
| 40-60% | 5 | $12,675,000 | $2,535,000 | $0 | 4.95% |
| 60-80% | 4 | $19,720,000 | $4,930,000 | $0 | 6.38% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |