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, Cash Out Refi, and Home Improvement loans. First Central Savings Bank has a high proportion of conventional loans. Their top two markets are New York and Poughkeepsie .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 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.
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Originations
16Origination Dollar Volume (All Markets)
$15,350,000Top 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) | 15 | $10,845,000 | $723,000 | $7,138 | 5.59% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $4,505,000 | $4,505,000 | $0 | 6.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 16 | $15,350,000 | $959,375 | $7,138 | 5.62% |
For 2019, First Central Savings Bank's most frequently originated type of loan was Conventional, with 16 originations.
Loan Reason
For 2019, First Central Savings Bank's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
For 2019, First Central Savings Bank's most frequently cited loan duration was 30 Year, with 10 originations. The 2nd most popular length was Other, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 2 | $770,000 | $385,000 |
| $1k-2k | 1 | $245,000 | $245,000 |
| $3k-4k | 1 | $575,000 | $575,000 |
| $4k-5k | 1 | $785,000 | $785,000 |
First Central Savings Bank's average total fees were $7,138, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 8 | $2,810,000 | $351,250 |
| 5-6% | 5 | $6,795,000 | $1,359,000 |
| 7-8% | 3 | $5,745,000 | $1,915,000 |
During 2019, First Central Savings Bank's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.
Loan Sizing
2019 saw First Central Savings Bank place emphasis on $200k-400k loans with 7 originations, totaling $2,195,000 in origination value.
Applicant Income
First Central Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
First Central Savings Bank lent most frequently to those with DTI ratios of 49%, with 2 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.44%
First Central Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.75%
First Central Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 16 | $15,350,000 | $959,375 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 16 | $15,350,000 | $959,375 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 2 | $680,000 | $340,000 | $0 | 5.25% |
| 60-80% | 14 | $14,670,000 | $1,047,857 | $7,138 | 5.67% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |