Associated Mortgage Bankers Rates, Fees & Info

RONKONKOMA, NY

LEI: 549300IL3HLQ2SW5VN73

Tax ID: 11-2961751

1 stars - Updated: 3/17/24 - out of 5 stars, based on 16 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Associated Mortgage Bankers is a smaller bank specializing in Home Purchase and Refi loans. Associated Mortgage Bankers has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Pittsburgh, Poughkeepsie, Bridgeport, and Miami among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Associated Mortgage Bankers has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Associated Mortgage Bankers is typically a high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.65% 3/17/24
30 Year Conventional Refi 6.58% 3/17/24
30 Year Cash-out Refi 6.27% 3/17/24
30 Year FHA Purchase 7.39% 3/17/24
30 Year FHA Refi 7.34% 3/17/24
30 Year VA Purchase 6.27% 3/17/24
30 Year VA Refi 5.86% 3/17/24
30 Year USDA Purchase 7.16% 3/17/24
15 Year Conventional Purchase 6.23% 3/17/24
15 Year Conventional Refi 6.06% 3/17/24
15 Year Cash-out Refi 6.06% 3/17/24
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.

Associated Mortgage Bankers Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Associated Mortgage Bankers. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


Originations

253

Origination Dollar Volume (All Markets)

$100,325,000

Awards

ASSOCIATED MORTGAGE BANKERS 30 Year Conventional Loans silver ASSOCIATED MORTGAGE BANKERS FHA Loans silver
Show all (2) awards

Relative Rate

Associated Mortgage Bankers's average 30 year fixed mortgage rate was 4.95%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.19%.

Relative Fees (Closing Costs)

Associated Mortgage Bankers's average total fees/closing costs for a 30 year fixed rate mortgage were $11,817.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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) 196 $85,920,000 $438,367 $12,447 4.85%
PITTSBURGH, PA (FHA|USDA|VA) 31 $5,495,000 $177,258 $6,946 4.79%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 8 $2,930,000 $366,250 $12,348 5.84%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $1,590,000 $397,500 $12,193 4.72%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,235,000 $411,667 $13,277 5.08%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $670,000 $335,000 $11,240 6.13%
Torrington, CT (FHA|USDA|VA) 2 $610,000 $305,000 $11,535 4.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $510,000 $255,000 $6,638 5.38%
Outside of Metro Areas 1 $385,000 $385,000 $16,438 5.63%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $325,000 $325,000 $10,330 4.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $285,000 $285,000 $8,973 5.63%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $265,000 $265,000 $10,321 3.88%
New Castle, PA (FHA|USDA|VA) 1 $105,000 $105,000 $4,050 5.63%
Associated Mortgage Bankers's top markets include New York, Pittsburgh, Poughkeepsie, Bridgeport, and Miami among others.

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

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

    TRI BORO
    Similarity Rank: 208
    N C P D Federal Credit Union
    Similarity Rank: 306
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 322
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    Schuyler Savings Bank
    Similarity Rank: 352
    Clear Mountain Bank
    Similarity Rank: 580
    The Atlantic Federal Credit Union
    Similarity Rank: 588

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 205 $83,065,000 $405,195 $10,413 4.89%
    FHA 41 $15,935,000 $388,659 $18,585 4.96%
    USDA 6 $870,000 $145,000 $6,688 4.19%
    VA 1 $455,000 $455,000 $14,419 6.13%

    For 2022, Associated Mortgage Bankers's most frequently originated type of loan was Conventional, with 205 originations. Their 2nd most popular type was FHA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 201 $79,205,000 $394,055 $11,737 5.01%
    Refi 52 $21,120,000 $406,154 $11,387 4.44%

    For 2022, Associated Mortgage Bankers's most frequently cited loan purpose was Home Purchase, with 201 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 244 $98,140,000 $402,213 $11,817 4.95%
    15 Year 5 $1,005,000 $201,000 $7,567 3.20%
    20 Year 2 $820,000 $410,000 $9,327 3.38%
    10 Year 1 $125,000 $125,000 $5,176 3.00%
    Other 1 $235,000 $235,000 $6,202 4.25%

    For 2022, Associated Mortgage Bankers's most frequently cited loan duration was 30 Year, with 244 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 168 $76,870,000 $457,560
    $1k-2k 24 $7,850,000 $327,083
    $4k-5k 24 $6,500,000 $270,833
    $3k-4k 16 $4,400,000 $275,000
    $2k-3k 14 $3,390,000 $242,143
    $<1k 7 $1,315,000 $187,857

    Associated Mortgage Bankers's average total fees were $11,817, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 168 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 91 $37,105,000 $407,747
    3-4% 67 $25,465,000 $380,075
    4-5% 50 $19,320,000 $386,400
    6-7% 31 $13,765,000 $444,032
    2.5-3% 7 $2,635,000 $376,429
    7-8% 6 $1,870,000 $311,667
    <2.5% 1 $165,000 $165,000

    During 2022, Associated Mortgage Bankers's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 102 $31,340,000 $307,255 $10,175 4.94%
    $400k-600k 82 $39,530,000 $482,073 $12,971 4.78%
    $600k-1MM 34 $23,630,000 $695,000 $17,410 5.21%
    $100k-200k 30 $4,480,000 $149,333 $6,088 4.58%
    $100,000 or less 4 $340,000 $85,000 $13,349 5.44%
    $1MM+ 1 $1,005,000 $1,005,000 $21,757 6.13%

    2022 saw Associated Mortgage Bankers place emphasis on $200k-400k loans with 102 originations, totaling $31,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 88 $37,290,000 $423,750 $13,329 5.04%
    $75k-100k 53 $19,815,000 $373,868 $11,852 4.64%
    $150k-250k 44 $20,960,000 $476,364 $12,092 4.84%
    $50k-75k 36 $8,610,000 $239,167 $7,841 4.51%
    $250k+ 18 $11,380,000 $632,222 $13,577 5.65%
    $50k or less 14 $2,270,000 $162,143 $6,523 5.07%

    Associated Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $75k-100k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 30 $11,700,000 $390,000 $8,593 4.66%
    20-30% 28 $10,690,000 $381,786 $9,288 4.67%
    45% 24 $9,990,000 $416,250 $11,594 4.96%
    50-60% 23 $9,975,000 $433,696 $20,604 4.89%
    48% 17 $6,495,000 $382,059 $11,425 4.72%
    46% 17 $5,965,000 $350,882 $11,075 4.51%
    49% 15 $6,495,000 $433,000 $11,297 4.83%
    44% 14 $5,820,000 $415,714 $12,589 4.96%
    47% 13 $5,935,000 $456,538 $12,561 5.55%
    38% 9 $3,395,000 $377,222 $11,131 5.28%
    42% 9 $3,025,000 $336,111 $9,143 5.35%
    43% 9 $4,355,000 $483,889 $12,603 4.97%
    41% 9 $3,445,000 $382,778 $11,390 4.60%
    40% 8 $3,340,000 $417,500 $13,488 4.58%
    39% 8 $2,840,000 $355,000 $9,324 4.78%
    37% 7 $2,345,000 $335,000 $12,383 5.34%
    <20% 6 $2,360,000 $393,333 $8,586 5.54%
    36% 6 $1,920,000 $320,000 $10,354 5.02%
    >60% 1 $235,000 $235,000 $8,470 7.50%

    Associated Mortgage Bankers lent most frequently to those with DTI ratios of 30-36%, with 30 originations. The next most common DTI ratio? 20-30%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $78,910,000 $386,814 $11,193 4.91%
    Black 34 $14,680,000 $431,765 $14,258 4.79%
    Asian 14 $6,410,000 $457,857 $12,043 4.74%
    Not provided 1 $325,000 $325,000 $14,520 7.50%

    Approval Rates

    Total approvals of all applications
    97.43%

    Associated Mortgage Bankers has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.24%

    Associated Mortgage Bankers has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 253 $100,325,000 $396,542

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    253 $100,325,000 $396,542

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $810,000 $202,500 $7,385 3.50%
    40-60% 24 $9,560,000 $398,333 $11,118 4.83%
    60-80% 89 $35,315,000 $396,798 $11,140 4.89%
    80-100% 133 $54,195,000 $407,481 $12,113 4.94%
    Under 20% 3 $445,000 $148,333 $17,413 4.92%