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 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.
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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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
253Origination Dollar Volume (All Markets)
$100,325,000Top 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) | 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% |
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.
Similarity Rank: 30
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Similarity Rank: 481
Product Mix
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
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
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
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
2022 saw Associated Mortgage Bankers place emphasis on $200k-400k loans with 102 originations, totaling $31,340,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.43%
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 origination80.24%
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 |