Industrial Bank Mortgage Rates, Fees & Info

Washington, DC

LEI: 549300J8HNLGP2HYNE66

Tax ID: 53-0088120

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

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Mortgage Data

  • Originations
  • Relative Rates
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Industrial Bank is a smaller bank specializing in Home Purchase and Refi loans. Industrial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Poughkeepsie, New York, and California among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Industrial Bank 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. They typically have relatively high 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

    13

    Origination Dollar Volume (All Markets)

    $22,005,000

    Relative Rate

    Industrial Bank's average 30 year fixed mortgage rate was 6.25%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.23%.

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 9 $18,375,000 $2,041,667 $0 6.69%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $2,475,000 $2,475,000 $0 6.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $940,000 $470,000 $0 7.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $215,000 $215,000 $0 9.50%
    Industrial Bank's top markets include Washington, Poughkeepsie, New York, and California among others.

    Their top states include:
  • District of Columbia (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 13 $22,005,000 $1,692,692 $0 6.90%

    For 2023, Industrial Bank's most frequently originated type of loan was Conventional, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6 $14,390,000 $2,398,333 $0 6.54%
    Home Improvement 4 $1,830,000 $457,500 $0 8.00%
    Refi 3 $5,785,000 $1,928,333 $0 6.17%

    For 2023, Industrial Bank's most frequently cited loan purpose was Home Purchase, with 6 originations. The 2nd most popular reason was Home Improvement, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 8 $9,150,000 $1,143,750 $0 7.03%
    10 Year 2 $3,480,000 $1,740,000 $0 5.75%
    30 Year 2 $9,000,000 $4,500,000 $0 6.25%
    1 Year 1 $375,000 $375,000 $0 9.50%

    For 2023, Industrial Bank's most frequently cited loan duration was Other, with 8 originations. The 2nd most popular length was 10 Year, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 7 $12,255,000 $1,750,714
    5-6% 4 $9,160,000 $2,290,000
    Over 8% 2 $590,000 $295,000

    During 2023, Industrial Bank's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 7 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 7 $19,235,000 $2,747,857 $0 6.25%
    $200k-400k 3 $975,000 $325,000 $0 8.67%
    $400k-600k 2 $970,000 $485,000 $0 6.75%
    $600k-1MM 1 $825,000 $825,000 $0 6.50%

    2023 saw Industrial Bank place emphasis on $1MM+ loans with 7 originations, totaling $19,235,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 13 $22,005,000 $1,692,692 $0 6.90%

    Approval Rates

    Total approvals of all applications
    100.00%

    Industrial Bank 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
    84.62%

    Industrial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 13 $22,005,000 $1,692,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    13 $22,005,000 $1,692,692

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $1,005,000 $1,005,000 $0 5.50%
    60-80% 4 $7,840,000 $1,960,000 $0 7.88%
    80-100% 3 $4,445,000 $1,481,667 $0 6.83%
    Over 100% 2 $5,680,000 $2,840,000 $0 6.00%