Associated Mortgage Bankers Rates, Fees & Info
RONKONKOMA, NYLEI: 549300IL3HLQ2SW5VN73
Tax ID: 11-2961751
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Mortgage Data
Review & Overview
Associated Mortgage Bankers is a smaller bank specializing in Refi and Home Purchase 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, Bridgeport, Poughkeepsie, and Miami among others. We have data for 14 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 an average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 4/21/24 |
| 30 Year Conventional Refi | 6.58% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year FHA Purchase | 7.39% | 4/21/24 |
| 30 Year FHA Refi | 7.34% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Refi | 5.86% | 4/21/24 |
| 30 Year USDA Purchase | 7.16% | 4/21/24 |
| 15 Year Conventional Purchase | 6.23% | 4/21/24 |
| 15 Year Conventional Refi | 6.06% | 4/21/24 |
| 15 Year Cash-out Refi | 6.06% | 4/21/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
512Origination Dollar Volume (All Markets)
$179,180,000Top 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) | 398 | $155,000,000 | $389,447 | $7,969 | 3.09% |
| PITTSBURGH, PA (FHA|USDA|VA) | 88 | $16,980,000 | $192,955 | $5,158 | 3.16% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 6 | $2,100,000 | $350,000 | $7,836 | 3.19% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 5 | $1,545,000 | $309,000 | $9,116 | 2.98% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $4,979 | 2.69% |
| Torrington, CT (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $8,644 | 3.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,675 | 3.50% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,316 | 2.25% |
| Outside of Metro Areas | 1 | $255,000 | $255,000 | $5,923 | 3.25% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,191 | 2.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,089 | 3.00% |
| New Castle, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,446 | 3.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,588 | 2.75% |
| Indiana, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,402 | 3.50% |
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.
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Product Mix
For 2020, Associated Mortgage Bankers's most frequently originated type of loan was Conventional, with 421 originations. Their 2nd most popular type was FHA, with 72 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 302 | $107,490,000 | $355,927 | $6,776 | 3.02% |
| Home Purchase | 210 | $71,690,000 | $341,381 | $8,359 | 3.22% |
For 2020, Associated Mortgage Bankers's most frequently cited loan purpose was Refi, with 302 originations. The 2nd most popular reason was Home Purchase, with 210 originations.
Loan Duration/Length
For 2020, Associated Mortgage Bankers's most frequently cited loan duration was 30 Year, with 398 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
Associated Mortgage Bankers's average total fees were $7,912, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 193 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 233 | $81,535,000 | $349,936 |
| 3-4% | 202 | $71,690,000 | $354,901 |
| <2.5% | 50 | $15,070,000 | $301,400 |
| 4-5% | 27 | $10,885,000 | $403,148 |
During 2020, Associated Mortgage Bankers's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 233 originations.
Loan Sizing
2020 saw Associated Mortgage Bankers place emphasis on $200k-400k loans with 256 originations, totaling $79,790,000 in origination value.
Applicant Income
Associated Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 151 originations. The second most popular income band? $150k-250k, with 119 originations.
Applicant Debt to Income Ratio
Associated Mortgage Bankers lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? 30-36%, with 86 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.56%
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 origination79.69%
Associated Mortgage Bankers has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 512 | $179,180,000 | $349,961 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 512 | $179,180,000 | $349,961 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ASSOCIATED BANC-CORP | Conventional home mortgage | Closing on a mortgage | 2 | 18.2% |
| ASSOCIATED BANC-CORP | Conventional home mortgage | Trouble during payment process | 6 | 54.5% |
| 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% |