Empire State Bank Mortgage Rates, Fees & Info
Newburgh, NYLEI: 549300G86QJ4YLR90O89
Tax ID: 20-0494115
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Empire State Bank is a smaller bank specializing in Home Purchase loans. Empire State Bank has a high proportion of conventional loans. Their top (well, only) market is New York.Empire State Bank has an 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
32Origination Dollar Volume (All Markets)
$20,180,000Top 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) | 32 | $20,180,000 | $630,625 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $20,180,000 | $630,625 | $0 | 0.00% |
For 2024, Empire State Bank's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 30 | $19,380,000 | $646,000 | $0 | 0.00% |
| Refi | 2 | $800,000 | $400,000 | $0 | 0.00% |
For 2024, Empire State Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $20,180,000 | $630,625 | $0 | 0.00% |
For 2024, Empire State Bank's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2024 saw Empire State Bank place emphasis on $600k-1MM loans with 16 originations, totaling $12,220,000 in origination value.
Applicant Income
Empire State Bank lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $20,180,000 | $630,625 | $0 | 0.00% |
Empire State Bank lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.97%
Empire State Bank has a below average approval rate.
Pick Rate
Approvals leading to origination59.38%
Empire State Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $20,180,000 | $630,625 |