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 loans. Finger Lakes has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Seneca Falls, Auburn, and Corning among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

159

Origination Dollar Volume (All Markets)

$20,745,000

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) 123 $16,755,000 $136,220 $0 0.00%
Seneca Falls, NY (FHA|USDA|VA) 30 $2,940,000 $98,000 $0 0.00%
Outside of Metro Areas 3 $705,000 $235,000 $0 0.00%
Auburn, NY (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
Corning, NY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Finger Lakes's top markets include Rochester, Seneca Falls, Auburn, and Corning 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 159 $20,745,000 $130,472 $0 0.00%

    For 2020, Finger Lakes's most frequently originated type of loan was Conventional, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 107 $14,575,000 $136,215 $0 0.00%
    Home Improvement 32 $2,660,000 $83,125 $0 0.00%
    Home Purchase 20 $3,510,000 $175,500 $0 0.00%

    For 2020, Finger Lakes's most frequently cited loan purpose was Refi, with 107 originations. The 2nd most popular reason was Home Improvement, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 159 $20,745,000 $130,472 $0 0.00%

    For 2020, Finger Lakes's most frequently cited loan duration was Other, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,605,000 $53,806 $0 0.00%
    $100k-200k 65 $9,285,000 $142,846 $0 0.00%
    $200k-400k 24 $6,400,000 $266,667 $0 0.00%
    $400k-600k 3 $1,455,000 $485,000 $0 0.00%

    2020 saw Finger Lakes place emphasis on $100,000 or less loans with 67 originations, totaling $3,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 46 $3,830,000 $83,261 $0 0.00%
    $100k-150k 42 $6,090,000 $145,000 $0 0.00%
    $75k-100k 26 $3,170,000 $121,923 $0 0.00%
    $150k-250k 20 $3,660,000 $183,000 $0 0.00%
    $50k or less 14 $970,000 $69,286 $0 0.00%
    $250k+ 11 $3,025,000 $275,000 $0 0.00%

    Finger Lakes lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $100k-150k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 159 $20,745,000 $130,472 $0 0.00%

    Finger Lakes lent most frequently to those with DTI ratios of Exempt%, with 159 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $20,015,000 $129,129 $0 0.00%
    Black 3 $525,000 $175,000 $0 0.00%
    Asian 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.02%

    Finger Lakes has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.33%

    Finger Lakes has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 159 $20,745,000 $130,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $290,000 $145,000
    Single Family (1-4 Units):Site-Built 157 $20,455,000 $130,287