Ponce Bank Mortgage Rates, Fees & Info
New York, NYLEI: 549300K0ZDYG8YJZ3L95
Tax ID: 82-2922475
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Mortgage Data
Review & Overview
Ponce Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Ponce Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Buffalo, Poughkeepsie, New Haven, and Crestview among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Ponce Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Ponce Bank 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 | 6.73% | 12/10/23 |
| 30 Year Conventional Refi | 6.66% | 12/10/23 |
| 30 Year Cash-out Refi | 6.99% | 12/10/23 |
| 30 Year FHA Purchase | 6.27% | 12/10/23 |
| 15 Year Conventional Purchase | 6.32% | 12/10/23 |
| 15 Year Conventional Refi | 6.57% | 12/10/23 |
| 15 Year Cash-out Refi | 6.57% | 12/10/23 |
| 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. | ||
Ponce Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
280Origination Dollar Volume (All Markets)
$449,460,000Relative Rate
Ponce Bank's average 30 year fixed mortgage rate was
4.96%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.2%.
Relative Fees (Closing Costs)
Ponce Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $18,827.
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) | 272 | $447,780,000 | $1,646,250 | $18,815 | 4.91% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,052 | 5.63% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,414 | 5.63% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 4.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 4.00% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,113 | 5.88% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,089 | 5.50% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $4,129 | 3.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 280 | $449,460,000 | $1,605,214 | $18,386 | 4.91% |
For 2022, Ponce Bank's most frequently originated type of loan was Conventional, with 280 originations.
Loan Reason
For 2022, Ponce Bank's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.
Loan Duration/Length
For 2022, Ponce Bank's most frequently cited loan duration was 30 Year, with 206 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
Ponce Bank's average total fees were $18,827, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 142 originations.
Interest Rates
During 2022, Ponce Bank's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 4-5%, with 115 originations.
Loan Sizing
2022 saw Ponce Bank place emphasis on $400k-600k loans with 84 originations, totaling $41,660,000 in origination value.
Applicant Income
Ponce Bank lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $150k-250k, with 38 originations.
Applicant Debt to Income Ratio
Ponce Bank lent most frequently to those with DTI ratios of 49%, with 19 originations. The next most common DTI ratio? 20-30%, with 17 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.54%
Ponce Bank has a below average approval rate.
Pick Rate
Approvals leading to origination86.43%
Ponce Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 14615.0 | 1 | $315,000 | $315,000 |
| NA | 279 | $449,145,000 | $1,609,839 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PNC Bank N.A. | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| PNC Bank N.A. | Conventional home mortgage | Incorrect information on your report | 1 | 33.3% |
| PNC Bank N.A. | FHA mortgage | Incorrect information on your report | 1 | 33.3% |