Finger Lakes Mortgage Rates, Fees & Info

Geneva, NY

LEI: 549300GCNN38YBSHN374

Tax ID: 23-7029725

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Mortgage Data

Review & Overview

Finger Lakes is a smaller mortgage company specializing in Refi and Home Purchase loans. Finger Lakes has a high proportion of conventional loans. Their top two markets are Rochester and Seneca Falls .

Finger Lakes 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

78

Origination Dollar Volume (All Markets)

$8,090,000

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
ROCHESTER, NY (FHA|USDA|VA) 56 $6,020,000 $107,500 $0 0.00%
Seneca Falls, NY (FHA|USDA|VA) 22 $2,070,000 $94,091 $0 0.00%
Finger Lakes's top markets include Rochester 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 78 $8,090,000 $103,718 $0 0.00%

    For 2019, Finger Lakes's most frequently originated type of loan was Conventional, with 78 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 34 $2,920,000 $85,882 $0 0.00%
    Home Purchase 26 $3,770,000 $145,000 $0 0.00%
    Home Improvement 14 $1,020,000 $72,857 $0 0.00%
    Cash Out Refi 4 $380,000 $95,000 $0 0.00%

    For 2019, Finger Lakes's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 78 $8,090,000 $103,718 $0 0.00%

    For 2019, Finger Lakes's most frequently cited loan duration was Other, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,545,000 $56,556 $0 0.00%
    $100k-200k 26 $3,570,000 $137,308 $0 0.00%
    $200k-400k 6 $1,500,000 $250,000 $0 0.00%
    $400k-600k 1 $475,000 $475,000 $0 0.00%

    2019 saw Finger Lakes place emphasis on $100,000 or less loans with 45 originations, totaling $2,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 22 $2,210,000 $100,455 $0 0.00%
    $50k-75k 21 $1,525,000 $72,619 $0 0.00%
    $50k or less 15 $915,000 $61,000 $0 0.00%
    $100k-150k 10 $1,620,000 $162,000 $0 0.00%
    $150k-250k 8 $1,440,000 $180,000 $0 0.00%
    $250k+ 2 $380,000 $190,000 $0 0.00%

    Finger Lakes lent most frequently to those with incomes in the $75k-100k range, with 22 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 78 $8,090,000 $103,718 $0 0.00%

    Finger Lakes lent most frequently to those with DTI ratios of Exempt%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 76 $7,790,000 $102,500 $0 0.00%
    Black 1 $195,000 $195,000 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.78%

    Finger Lakes has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.77%

    Finger Lakes has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 78 $8,090,000 $103,718

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 78 $8,090,000 $103,718