Empire State Bank Mortgage Rates, Fees & Info

Newburgh, NY

LEI: 549300G86QJ4YLR90O89

Tax ID: 20-0494115

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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.

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    Originations

    133

    Origination Dollar Volume (All Markets)

    $96,265,000

    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) 133 $96,265,000 $723,797 $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 133 $96,265,000 $723,797 $0 0.00%

    For 2018, Empire State Bank's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $71,130,000 $697,353 $0 0.00%
    Refi 29 $23,935,000 $825,345 $0 0.00%
    Home Improvement 2 $1,200,000 $600,000 $0 0.00%

    For 2018, Empire State Bank's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 133 $96,265,000 $723,797 $0 0.00%

    For 2018, Empire State Bank's most frequently cited loan duration was Other, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 78 $59,260,000 $759,744 $0 0.00%
    $400k-600k 28 $13,470,000 $481,071 $0 0.00%
    $1MM+ 14 $19,260,000 $1,375,714 $0 0.00%
    $200k-400k 13 $4,275,000 $328,846 $0 0.00%

    2018 saw Empire State Bank place emphasis on $600k-1MM loans with 78 originations, totaling $59,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $10,225,000 $681,667 $0 0.00%
    $75k-100k 12 $7,600,000 $633,333 $0 0.00%
    $150k-250k 10 $6,950,000 $695,000 $0 0.00%
    $50k-75k 6 $3,550,000 $591,667 $0 0.00%
    $250k+ 5 $4,935,000 $987,000 $0 0.00%
    $50k or less 1 $225,000 $225,000 $0 0.00%

    Empire State Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 133 $96,265,000 $723,797 $0 0.00%

    Empire State Bank lent most frequently to those with DTI ratios of Exempt%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 79 $60,105,000 $760,823 $0 0.00%
    Asian 42 $27,120,000 $645,714 $0 0.00%
    White 10 $6,540,000 $654,000 $0 0.00%
    Black 1 $1,655,000 $1,655,000 $0 0.00%
    Other Asian 1 $845,000 $845,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.45%

    Empire State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.47%

    Empire State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 133 $96,265,000 $723,797

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $19,105,000 $909,762
    Single Family (1-4 Units):Site-Built 112 $77,160,000 $688,929

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    EMBRACE HOME LOANS Conventional home mortgage Trouble during payment process 1 14.3%
    EMBRACE HOME LOANS FHA mortgage Struggling to pay mortgage 1 14.3%
    EMBRACE HOME LOANS FHA mortgage Trouble during payment process 1 14.3%
    EMBRACE HOME LOANS Other type of mortgage Struggling to pay mortgage 1 14.3%
    EMBRACE HOME LOANS VA mortgage Trouble during payment process 3 42.9%