Evans Bank Mortgage Rates, Fees & Info

Angola, NY

LEI: 549300F7JKU0UTD6KX15

Tax ID: 16-0426523

5 stars - Updated: 2/19/24 - out of 5 stars, based on 28 reviews

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

Jump to:

Mortgage Data

Review & Overview

Evans Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Evans Bank has a high proportion of conventional loans. Evans Bank has an average 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: Buffalo, Rochester, Jamestown, Olean, and Seneca Falls among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Evans Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Evans 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 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.

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 6.42% 2/19/24
30 Year Conventional Refi 6.14% 2/19/24
30 Year Cash-out Refi 6.52% 2/19/24
30 Year FHA Purchase 7.53% 2/19/24
30 Year VA Purchase 6.46% 2/19/24
15 Year Conventional Purchase 5.69% 2/19/24
15 Year Conventional Refi 5.58% 2/19/24
15 Year Cash-out Refi 5.58% 2/19/24
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.

Evans Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Evans 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

765

Origination Dollar Volume (All Markets)

$190,745,000

Relative Rate

Evans Bank's average 30 year fixed mortgage rate was 4.91%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Evans Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,615.

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 $4,750.

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
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 550 $145,760,000 $265,018 $3,915 4.74%
ROCHESTER, NY (FHA|USDA|VA) 179 $34,445,000 $192,430 $3,251 4.70%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 10 $5,810,000 $581,000 $3,658 5.25%
Olean, NY (FHA|USDA|VA) 7 $1,605,000 $229,286 $4,678 5.35%
Outside of Metro Areas 7 $1,295,000 $185,000 $6,323 5.04%
Seneca Falls, NY (FHA|USDA|VA) 1 $825,000 $825,000 $0 6.25%
Batavia, NY (FHA|USDA|VA) 9 $805,000 $89,444 $2,862 5.28%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,219 3.50%
Corning, NY (FHA|USDA|VA) 1 $45,000 $45,000 $2,835 6.63%
Evans Bank's top markets include Buffalo, Rochester, Jamestown, Olean, and Seneca Falls among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 406 $146,710,000 $361,355 $3,723 4.75%
    Conventional 353 $43,055,000 $121,969 $0 0.00%
    FHA 5 $805,000 $161,000 $7,257 4.65%
    VA 1 $175,000 $175,000 $6,299 5.75%

    For 2022, Evans Bank's most frequently originated type of loan was Conventional, with 406 originations. Their 2nd most popular type was Conventional, with 353 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 325 $84,465,000 $259,892 $3,916 5.04%
    Home Improvement 154 $14,710,000 $95,519 $4,227 3.92%
    Refi 151 $30,595,000 $202,616 $3,011 3.34%
    Other 72 $8,360,000 $116,111 $3,953 4.81%
    Cash Out Refi 63 $52,615,000 $835,159 $3,347 4.09%

    For 2022, Evans Bank's most frequently cited loan purpose was Home Purchase, with 325 originations. The 2nd most popular reason was Home Improvement, with 154 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 360 $55,340,000 $153,722 $6,687 4.26%
    30 Year 317 $60,595,000 $191,151 $3,615 4.91%
    15 Year 35 $7,055,000 $201,571 $3,488 3.39%
    10 Year 26 $40,110,000 $1,542,692 $2,873 4.72%
    20 Year 11 $2,245,000 $204,091 $3,507 4.41%
    30+ year 10 $3,920,000 $392,000 $9,435 5.00%
    5 Year 5 $16,475,000 $3,295,000 $0 5.42%
    3 Year 1 $5,005,000 $5,005,000 $0 6.50%

    For 2022, Evans Bank's most frequently cited loan duration was Other, with 360 originations. The 2nd most popular length was 30 Year, with 317 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 208 $37,350,000 $179,567
    $1k-2k 96 $17,870,000 $186,146
    $2k-3k 21 $5,255,000 $250,238
    $3k-4k 18 $5,580,000 $310,000
    $4k-5k 8 $2,810,000 $351,250
    $5k+ 8 $3,580,000 $447,500

    Evans Bank's average total fees were $3,615, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 208 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 131 $45,685,000 $348,740
    3-4% 86 $42,310,000 $491,977
    4-5% 72 $29,300,000 $406,944
    6-7% 52 $17,770,000 $341,731
    2.5-3% 44 $8,430,000 $191,591
    <2.5% 14 $2,230,000 $159,286
    7-8% 13 $1,965,000 $151,154

    During 2022, Evans Bank's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 5-6%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 330 $45,820,000 $138,848 $3,256 4.84%
    $100,000 or less 205 $12,165,000 $59,341 $2,904 4.59%
    $200k-400k 167 $42,995,000 $257,455 $4,363 4.67%
    $400k-600k 35 $16,125,000 $460,714 $6,299 4.63%
    $1MM+ 18 $66,230,000 $3,679,444 $14,771 5.06%
    $600k-1MM 10 $7,410,000 $741,000 $5,978 4.79%

    2022 saw Evans Bank place emphasis on $100k-200k loans with 330 originations, totaling $45,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 164 $23,140,000 $141,098 $3,529 4.80%
    $100k-150k 146 $23,220,000 $159,041 $4,195 4.65%
    $75k-100k 136 $20,750,000 $152,574 $3,737 4.78%
    $50k or less 125 $13,605,000 $108,840 $2,992 4.67%
    $150k-250k 87 $18,425,000 $211,782 $4,853 4.84%
    $250k+ 55 $16,645,000 $302,636 $7,120 4.43%

    Evans Bank lent most frequently to those with incomes in the $50k-75k range, with 164 originations. The second most popular income band? $100k-150k, with 146 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 353 $43,055,000 $121,969 $0 0.00%
    30-36% 73 $13,615,000 $186,507 $3,646 4.88%
    20-30% 69 $11,935,000 $172,971 $3,508 4.25%
    <20% 28 $6,210,000 $221,786 $3,728 4.24%
    41% 28 $5,760,000 $205,714 $3,643 5.35%
    37% 26 $4,440,000 $170,769 $3,268 4.73%
    42% 22 $3,770,000 $171,364 $3,638 4.86%
    38% 19 $3,225,000 $169,737 $3,544 4.59%
    43% 17 $3,405,000 $200,294 $3,811 5.07%
    39% 17 $5,055,000 $297,353 $4,323 4.54%
    36% 16 $2,730,000 $170,625 $3,167 5.31%
    44% 15 $3,355,000 $223,667 $4,842 5.00%
    49% 12 $2,790,000 $232,500 $4,681 5.18%
    45% 12 $3,160,000 $263,333 $5,114 4.54%
    40% 9 $1,855,000 $206,111 $3,416 3.71%
    47% 6 $1,250,000 $208,333 $4,456 5.02%
    46% 5 $1,255,000 $251,000 $5,866 5.58%
    48% 4 $810,000 $202,500 $3,207 4.66%
    50-60% 1 $265,000 $265,000 $4,137 4.75%
    >60% 1 $505,000 $505,000 $9,848 3.75%

    Evans Bank lent most frequently to those with DTI ratios of Exempt%, with 353 originations. The next most common DTI ratio? 30-36%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 645 $108,215,000 $167,775 $3,793 4.68%
    Not applicable 29 $67,305,000 $2,320,862 $0 5.19%
    Black 46 $6,200,000 $134,783 $3,571 5.01%
    Not provided 25 $5,465,000 $218,600 $3,846 4.78%
    Asian 17 $3,125,000 $183,824 $4,093 4.56%
    Native Hawaiian or Islander 2 $330,000 $165,000 $2,860 6.63%
    Other Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.50%

    Evans Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.63%

    Evans Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 353 $43,055,000 $121,969
    NA 412 $147,690,000 $358,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    765 $190,745,000 $249,340

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $3,320,000 $150,909 $3,380 3.75%
    40-60% 43 $9,375,000 $218,023 $3,700 3.98%
    60-80% 127 $68,835,000 $542,008 $4,211 4.72%
    80-100% 217 $65,895,000 $303,664 $3,637 5.04%
    Under 20% 3 $265,000 $88,333 $4,507 4.63%