Roselle Bank Mortgage Rates, Fees & Info

Roselle, NJ

LEI: 549300HMUOLWELP0MC24

Tax ID: 22-1241000

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
  • Similar Lenders
  • 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

    Roselle Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Roselle Bank has a high proportion of conventional loans. Their top two markets are New York and Trenton .

    Roselle Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Roselle Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    29

    Origination Dollar Volume (All Markets)

    $11,765,000

    Awards

    Roselle Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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) 28 $10,740,000 $383,571 $4,049 3.66%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $0 4.00%
    Roselle Bank's top markets include New York and Trenton among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Roselle Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    Poli Mortgage Group, Inc.
    Similarity Rank: 1012
    Schuyler Savings Bank
    Similarity Rank: 1083

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $11,765,000 $405,690 $4,049 3.67%

    For 2020, Roselle Bank's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 13 $4,855,000 $373,462 $4,152 3.63%
    Home Purchase 8 $3,060,000 $382,500 $4,482 3.78%
    Cash Out Refi 6 $3,100,000 $516,667 $3,889 3.69%
    Home Improvement 2 $750,000 $375,000 $2,870 3.44%

    For 2020, Roselle Bank's most frequently cited loan purpose was Refi, with 13 originations. The 2nd most popular reason was Home Purchase, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 16 $6,400,000 $400,000 $3,905 3.59%
    5 Year 9 $3,575,000 $397,222 $0 3.96%
    15 Year 2 $1,060,000 $530,000 $3,842 3.25%
    20 Year 1 $365,000 $365,000 $3,035 3.50%
    30+ year 1 $365,000 $365,000 $7,630 3.50%

    For 2020, Roselle Bank's most frequently cited loan duration was 30 Year, with 16 originations. The 2nd most popular length was 5 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 16 $7,040,000 $440,000
    $3k-4k 1 $125,000 $125,000
    $4k-5k 1 $365,000 $365,000

    Roselle Bank's average total fees were $3,905, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 29 $11,765,000 $405,690

    During 2020, Roselle Bank's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 11 $3,495,000 $317,727 $3,223 3.74%
    $400k-600k 11 $5,395,000 $490,455 $4,347 3.64%
    $100k-200k 4 $490,000 $122,500 $3,974 3.63%
    $600k-1MM 2 $1,360,000 $680,000 $5,446 3.44%
    $1MM+ 1 $1,025,000 $1,025,000 $0 4.00%

    2020 saw Roselle Bank place emphasis on $200k-400k loans with 11 originations, totaling $3,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $3,480,000 $435,000 $3,329 3.58%
    $150k-250k 7 $2,745,000 $392,143 $3,924 3.57%
    $50k-75k 3 $605,000 $201,667 $5,087 3.46%
    $250k+ 2 $1,360,000 $680,000 $5,446 3.44%

    Roselle Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $150k-250k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 6 $2,820,000 $470,000 $4,118 3.60%
    37% 5 $1,985,000 $397,000 $4,067 3.40%
    20-30% 3 $1,125,000 $375,000 $3,254 3.67%
    39% 2 $910,000 $455,000 $7,630 3.44%
    <20% 2 $450,000 $225,000 $3,543 3.63%
    36% 1 $375,000 $375,000 $2,867 3.63%
    38% 1 $525,000 $525,000 $4,535 3.50%

    Roselle Bank lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 37%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 15 $5,755,000 $383,667 $4,021 3.52%
    Not applicable 9 $3,575,000 $397,222 $0 3.96%
    Asian 2 $1,230,000 $615,000 $5,344 3.56%
    Not provided 3 $1,205,000 $401,667 $3,316 3.67%

    Approval Rates

    Total approvals of all applications
    91.89%

    Roselle Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.10%

    Roselle Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29 $11,765,000 $405,690

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,360,000 $590,000
    Single Family (1-4 Units):Manufactured 1 $285,000 $285,000
    Single Family (1-4 Units):Site-Built 24 $9,120,000 $380,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $125,000 $125,000 $5,917 3.50%
    40-60% 2 $820,000 $410,000 $7,630 3.69%
    60-80% 16 $6,380,000 $398,750 $3,476 3.72%
    80-100% 10 $4,440,000 $444,000 $3,905 3.61%