Associated Mortgage Bankers Rates, Fees & Info

RONKONKOMA, NY

LEI: 549300IL3HLQ2SW5VN73

Tax ID: 11-2961751

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Associated Mortgage Bankers is a smaller bank specializing in Home Purchase loans. Associated Mortgage Bankers has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Miami, Poughkeepsie, Bridgeport, and Torrington among others. We have data for 17 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%	12/23/24
30 Year Conventional Refi	6.58%	12/23/24
30 Year Cash-out Refi	6.27%	12/23/24
30 Year FHA Purchase	7.39%	12/23/24
30 Year FHA Refi	7.34%	12/23/24
30 Year VA Purchase	6.27%	12/23/24
30 Year VA Refi	5.86%	12/23/24
30 Year USDA Purchase	7.16%	12/23/24
15 Year Conventional Purchase	6.23%	12/23/24
15 Year Conventional Refi	6.06%	12/23/24
15 Year Cash-out Refi	6.06%	12/23/24
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

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% Deposit:

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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

470

Origination Dollar Volume (All Markets)

$166,980,000

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)	430	$158,320,000	$368,186	$10,205	4.90%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	6	$1,720,000	$286,667	$9,548	4.96%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	7	$1,505,000	$215,000	$7,674	4.82%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	4	$1,420,000	$355,000	$6,413	4.81%
Torrington, CT (FHA\|USDA\|VA)	2	$700,000	$350,000	$6,142	4.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	2	$460,000	$230,000	$2,768	4.56%
PITTSBURGH, PA (FHA\|USDA\|VA)	5	$455,000	$91,000	$3,537	5.53%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$440,000	$220,000	$4,469	5.06%
ROCHESTER, NY (FHA\|USDA\|VA)	2	$370,000	$185,000	$5,851	5.06%
Outside of Metro Areas	2	$350,000	$175,000	$8,249	5.00%
NEW HAVEN-MILFORD, CT (FHA\|USDA\|VA)	2	$330,000	$165,000	$6,730	4.75%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$3,790	4.75%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$195,000	$195,000	$3,712	5.63%
OCALA, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$6,049	4.88%
ALBANY-SCHENECTADY-TROY, NY (FHA\|USDA\|VA)	1	$115,000	$115,000	$3,410	5.13%
SYRACUSE, NY (FHA\|USDA\|VA)	1	$105,000	$105,000	$5,201	5.38%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	1	$105,000	$105,000	$4,125	5.25%

Associated Mortgage Bankers's top markets include New York, Miami, Poughkeepsie, Bridgeport, and Torrington among others.

Their top states include:

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Connecticut (FHA|USDA|VA)

New Jersey (FHA|USDA|VA)

Pennsylvania (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.

Westmoreland Federal Savings
Similarity Rank: 12

TRI BORO
Similarity Rank: 25

N C P D Federal Credit Union
Similarity Rank: 55

Commercial Bank and Trust of PA
Similarity Rank: 57

Bogota Savings Bank
Similarity Rank: 63

Union County Savings Bank
Similarity Rank: 66

GARDEN SAVINGS FEDERAL CREDIT UNION
Similarity Rank: 80

HANCOCK COUNTY SAVINGS BANK, FSB, INC.
Similarity Rank: 88

West View Savings Bank
Similarity Rank: 102

Freehold Savings Bank
Similarity Rank: 120

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	321	$110,025,000	$342,757	$7,474	4.94%
FHA	141	$54,545,000	$386,844	$15,531	4.84%
VA	6	$2,150,000	$358,333	$8,027	4.50%
USDA	2	$260,000	$130,000	$4,734	5.13%

For 2018, Associated Mortgage Bankers's most frequently originated type of loan was Conventional, with 321 originations. Their 2nd most popular type was FHA, with 141 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	386	$135,550,000	$351,166	$9,699	4.90%
Cash Out Refi	46	$18,010,000	$391,522	$9,531	4.83%
Refi	38	$13,420,000	$353,158	$12,055	5.06%

For 2018, Associated Mortgage Bankers's most frequently cited loan purpose was Home Purchase, with 386 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	462	$164,650,000	$356,385	$9,939	4.92%
15 Year	5	$1,255,000	$251,000	$6,396	4.08%
20 Year	2	$630,000	$315,000	$4,385	4.31%
Other	1	$445,000	$445,000	$0	4.88%

For 2018, Associated Mortgage Bankers's most frequently cited loan duration was 30 Year, with 462 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+	150	$62,520,000	$416,800
$1k-2k	148	$49,000,000	$331,081
$2k-3k	52	$16,090,000	$309,423
$3k-4k	44	$14,270,000	$324,318
$4k-5k	41	$13,585,000	$331,341
$<1k	33	$10,645,000	$322,576

Associated Mortgage Bankers's average total fees were $9,939, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 150 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	290	$104,730,000	$361,138
5-6%	165	$57,005,000	$345,485
3-4%	15	$5,245,000	$349,667

During 2018, Associated Mortgage Bankers's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 4-5%, with 290 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	255	$80,055,000	$313,941	$9,559	4.92%
$400k-600k	122	$57,260,000	$469,344	$11,419	4.84%
$100k-200k	54	$8,150,000	$150,926	$5,268	4.88%
$600k-1MM	28	$19,670,000	$702,500	$17,378	5.04%
$100,000 or less	10	$840,000	$84,000	$3,662	5.08%
$1MM+	1	$1,005,000	$1,005,000	$10,377	4.75%

2018 saw Associated Mortgage Bankers place emphasis on $200k-400k loans with 255 originations, totaling $80,055,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	136	$53,570,000	$393,897	$10,552	4.92%
$75k-100k	131	$41,255,000	$314,924	$9,720	4.92%
$150k-250k	85	$39,085,000	$459,824	$11,294	4.90%
$50k-75k	66	$16,660,000	$252,424	$9,074	4.80%
$50k or less	34	$7,410,000	$217,941	$6,967	5.00%
$250k+	17	$8,265,000	$486,176	$7,173	4.96%

Associated Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 136 originations. The second most popular income band? $75k-100k, with 131 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
50-60%	73	$27,975,000	$383,219	$15,475	4.81%
30-36%	49	$16,985,000	$346,633	$7,727	4.84%
20-30%	41	$13,735,000	$335,000	$6,977	4.84%
47%	34	$10,710,000	$315,000	$9,533	4.91%
49%	27	$10,865,000	$402,407	$12,172	5.03%
42%	27	$9,495,000	$351,667	$7,620	4.79%
48%	27	$10,145,000	$375,741	$9,990	4.84%
44%	24	$8,340,000	$347,500	$10,123	5.13%
46%	24	$7,980,000	$332,500	$9,974	4.97%
37%	23	$7,405,000	$321,957	$8,438	4.86%
43%	20	$6,690,000	$334,500	$8,397	4.93%
40%	19	$7,755,000	$408,158	$9,789	5.08%
45%	19	$7,125,000	$375,000	$9,525	4.93%
38%	16	$5,770,000	$360,625	$7,721	4.87%
41%	15	$4,625,000	$308,333	$8,565	4.90%
39%	14	$4,790,000	$342,143	$8,722	5.08%
36%	12	$4,350,000	$362,500	$7,303	5.13%
<20%	5	$1,765,000	$353,000	$8,391	4.85%
>60%	1	$475,000	$475,000	$8,264	5.00%

Associated Mortgage Bankers lent most frequently to those with DTI ratios of 50-60%, with 73 originations. The next most common DTI ratio? 30-36%, with 49 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	318	$106,300,000	$334,277	$8,948	4.89%
Black	70	$27,570,000	$393,857	$11,824	4.89%
Asian	52	$22,380,000	$430,385	$11,551	4.96%
Not provided	25	$8,635,000	$345,400	$13,120	4.99%
Other Asian	2	$980,000	$490,000	$10,460	5.31%
Asian Indian	2	$950,000	$475,000	$9,017	4.94%
Native Hawaiian or Islander	1	$165,000	$165,000	$2,215	4.88%

Approval Rates

Total approvals of all applications
90.27%

Associated Mortgage Bankers has an average approval rate.

Pick Rate

Approvals leading to origination
79.79%

Associated Mortgage Bankers has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	470	$166,980,000	$355,277

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	470	$166,980,000	$355,277

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	10	$2,120,000	$212,000	$7,074	4.68%
40-60%	35	$10,205,000	$291,571	$6,842	4.84%
60-80%	144	$50,970,000	$353,958	$8,317	4.99%
80-100%	275	$101,495,000	$369,073	$11,085	4.88%
Over 100%	5	$2,045,000	$409,000	$15,738	4.78%
Under 20%	1	$145,000	$145,000	$6,764	4.00%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
ASSOCIATED BANC-CORP	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	9.1%
ASSOCIATED BANC-CORP	Conventional home mortgage	Trouble during payment process	7	63.6%
ASSOCIATED BANC-CORP	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	1	9.1%
ASSOCIATED BANC-CORP	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	9.1%
ASSOCIATED BANC-CORP	Other type of mortgage	Trouble during payment process	1	9.1%