Emigrant Funding Corporation Mortgage Rates, Fees & Info
New York, NYLEI: 549300HG6U7GIJKDOO88
Tax ID: 13-3465439
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Mortgage Data
Review & Overview
Emigrant Funding Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Emigrant Funding Corporation has a high proportion of conventional loans. Their top two markets are New York and Miami .Emigrant Funding Corporation 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Emigrant Funding Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
58Origination Dollar Volume (All Markets)
$42,990,000Top 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) | 57 | $42,335,000 | $742,719 | $0 | 6.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 6.88% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 58 | $42,990,000 | $741,207 | $0 | 6.86% |
For 2023, Emigrant Funding Corporation's most frequently originated type of loan was Conventional, with 58 originations.
Loan Reason
For 2023, Emigrant Funding Corporation's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 5 Year | 48 | $31,890,000 | $664,375 | $0 | 6.89% |
| 3 Year | 9 | $10,825,000 | $1,202,778 | $0 | 6.61% |
| 15 Year | 1 | $275,000 | $275,000 | $0 | 7.50% |
For 2023, Emigrant Funding Corporation's most frequently cited loan duration was 5 Year, with 48 originations. The 2nd most popular length was 3 Year, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 41 | $32,345,000 | $788,902 |
| 7-8% | 16 | $9,670,000 | $604,375 |
| 5-6% | 1 | $975,000 | $975,000 |
During 2023, Emigrant Funding Corporation's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 41 originations.
Loan Sizing
2023 saw Emigrant Funding Corporation place emphasis on $600k-1MM loans with 23 originations, totaling $17,385,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1 | $535,000 | $535,000 | $0 | 7.25% |
Emigrant Funding Corporation lent most frequently to those with incomes in the $50k-75k range, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 57 | $42,455,000 | $744,825 | $0 | 6.85% |
| White | 1 | $535,000 | $535,000 | $0 | 7.25% |
Approval Rates
Total approvals of all applications75.00%
Emigrant Funding Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination86.21%
Emigrant Funding Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 58 | $42,990,000 | $741,207 |