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 loans. Ponce Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Philadelphia, Trenton, Kingston, and North Port 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.
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% | 4/26/24 |
| 30 Year Conventional Refi | 6.66% | 4/26/24 |
| 30 Year Cash-out Refi | 6.99% | 4/26/24 |
| 30 Year FHA Purchase | 6.27% | 4/26/24 |
| 15 Year Conventional Purchase | 6.32% | 4/26/24 |
| 15 Year Conventional Refi | 6.57% | 4/26/24 |
| 15 Year Cash-out Refi | 6.57% | 4/26/24 |
| 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. | ||
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
213Origination Dollar Volume (All Markets)
$579,485,000Top 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) | 202 | $577,550,000 | $2,859,158 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Ponce Bank 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 209 | $576,805,000 | $2,759,833 | $0 | 0.00% |
| FHA | 4 | $2,680,000 | $670,000 | $0 | 0.00% |
For 2023, Ponce Bank's most frequently originated type of loan was Conventional, with 209 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2023, Ponce Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 213 | $579,485,000 | $2,720,587 | $0 | 0.00% |
For 2023, Ponce Bank's most frequently cited loan duration was Other, with 213 originations.
Loan Sizing
2023 saw Ponce Bank place emphasis on $400k-600k loans with 67 originations, totaling $33,225,000 in origination value.
Applicant Income
Ponce Bank lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $150k-250k, with 29 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 213 | $579,485,000 | $2,720,587 | $0 | 0.00% |
Ponce Bank lent most frequently to those with DTI ratios of Exempt%, with 213 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.80%
Ponce Bank has a below average approval rate.
Pick Rate
Approvals leading to origination75.59%
Ponce Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 213 | $579,485,000 | $2,720,587 |