Empire State Bank Mortgage Rates, Fees & Info

Newburgh, NY

LEI: 549300G86QJ4YLR90O89

Tax ID: 20-0494115

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Mortgage Data

Review & Overview

Empire State Bank is a smaller bank specializing in Home Purchase and Refi loans. Empire State Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

Empire State 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.

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Originations

94

Origination Dollar Volume (All Markets)

$68,790,000

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) 94 $68,790,000 $731,809 $0 0.00%
Empire State Bank's top markets include and New York among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 94 $68,790,000 $731,809 $0 0.00%

    For 2023, Empire State Bank's most frequently originated type of loan was Conventional, with 94 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 78 $54,370,000 $697,051 $0 0.00%
    Refi 14 $13,790,000 $985,000 $0 0.00%
    Other 1 $305,000 $305,000 $0 0.00%
    Cash Out Refi 1 $325,000 $325,000 $0 0.00%

    For 2023, Empire State Bank's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 94 $68,790,000 $731,809 $0 0.00%

    For 2023, Empire State Bank's most frequently cited loan duration was Other, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 39 $29,225,000 $749,359 $0 0.00%
    $400k-600k 29 $14,685,000 $506,379 $0 0.00%
    $1MM+ 16 $21,620,000 $1,351,250 $0 0.00%
    $200k-400k 10 $3,260,000 $326,000 $0 0.00%

    2023 saw Empire State Bank place emphasis on $600k-1MM loans with 39 originations, totaling $29,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $8,135,000 $625,769 $0 0.00%
    $150k-250k 8 $5,110,000 $638,750 $0 0.00%
    $250k+ 6 $4,960,000 $826,667 $0 0.00%
    $75k-100k 5 $2,205,000 $441,000 $0 0.00%

    Empire State Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 94 $68,790,000 $731,809 $0 0.00%

    Empire State Bank lent most frequently to those with DTI ratios of Exempt%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 62 $48,380,000 $780,323 $0 0.00%
    Asian 22 $14,150,000 $643,182 $0 0.00%
    White 7 $3,995,000 $570,714 $0 0.00%
    Not provided 3 $2,265,000 $755,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.50%

    Empire State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.04%

    Empire State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 94 $68,790,000 $731,809

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    94 $68,790,000 $731,809