Emigrant Funding Corporation Mortgage Rates, Fees & Info

New York, NY

LEI: 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.

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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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






Your Estimates

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

58

Origination Dollar Volume (All Markets)

$42,990,000

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) 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%
Emigrant Funding Corporation's top markets include New York and Miami among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 28 $18,590,000 $663,929 $0 6.86%
    Cash Out Refi 21 $15,725,000 $748,810 $0 6.93%
    Home Improvement 5 $4,465,000 $893,000 $0 6.75%
    Refi 4 $4,210,000 $1,052,500 $0 6.56%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 23 $17,385,000 $755,870 $0 6.87%
    $400k-600k 14 $6,870,000 $490,714 $0 6.79%
    $200k-400k 10 $3,220,000 $322,000 $0 6.97%
    $1MM+ 9 $15,235,000 $1,692,778 $0 6.84%
    $100k-200k 2 $280,000 $140,000 $0 6.75%

    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 applications
    75.00%

    Emigrant Funding Corporation has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.21%

    Emigrant Funding Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 58 $42,990,000 $741,207

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    58 $42,990,000 $741,207

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $3,685,000 $737,000 $0 7.15%
    40-60% 24 $17,830,000 $742,917 $0 6.77%
    60-80% 16 $11,590,000 $724,375 $0 7.06%
    Under 20% 13 $9,885,000 $760,385 $0 6.65%