Fairport Savings Bank Mortgage Rates, Fees & Info

Fairport, NY

LEI: 549300KBBVNTCW1SWC68

Tax ID: 16-0427685

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

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Mortgage Data

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

    Fairport Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Fairport Savings Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Buffalo, Rochester, Watertown, Ogdensburg, and Batavia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fairport Savings 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. Fairport Savings Bank is typically a low 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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    Originations

    98

    Origination Dollar Volume (All Markets)

    $19,330,000

    Awards

    Fairport Savings Bank 30 Year Conventional Loans bronze Fairport Savings Bank 30 Year Conventional Loans silver Fairport Savings Bank FHA Loans gold
    Show all (3) awards

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 38 $9,920,000 $261,053 $4,147 3.60%
    ROCHESTER, NY (FHA|USDA|VA) 41 $6,815,000 $166,220 $2,872 3.36%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 7 $775,000 $110,714 $5,906 2.84%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 7 $635,000 $90,714 $3,333 3.43%
    Batavia, NY (FHA|USDA|VA) 3 $585,000 $195,000 $4,218 3.63%
    Malone, NY (FHA|USDA|VA) 1 $545,000 $545,000 $8,788 3.38%
    Outside of Metro Areas 1 $55,000 $55,000 $2,445 4.00%
    Fairport Savings Bank's top markets include Buffalo, Rochester, Watertown, Ogdensburg, and Batavia among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Fairport Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Pittsford Federal Credit Union
    Similarity Rank: 70
    NORTHERN CREDIT UNION
    Similarity Rank: 90
    ONTARIO SHORES
    Similarity Rank: 111
    Bank of Akron
    Similarity Rank: 114
    RIVERSIDE
    Similarity Rank: 128
    AMERICU Credit Union
    Similarity Rank: 176
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 190
    Moog Employees Federal Credit Union
    Similarity Rank: 192
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 228
    ESL Federal Credit Union
    Similarity Rank: 276

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $16,550,000 $223,649 $3,425 3.54%
    FHA 17 $1,615,000 $95,000 $5,244 2.77%
    VA 7 $1,165,000 $166,429 $3,836 3.91%

    For 2020, Fairport Savings Bank's most frequently originated type of loan was Conventional, with 74 originations. Their 2nd most popular type was FHA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $11,975,000 $190,079 $4,132 3.42%
    Refi 20 $4,970,000 $248,500 $2,819 3.08%
    Cash Out Refi 13 $2,265,000 $174,231 $3,257 3.82%
    Home Improvement 1 $35,000 $35,000 $0 6.00%
    Other 1 $85,000 $85,000 $3,383 3.88%

    For 2020, Fairport Savings Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $12,600,000 $180,000 $3,627 3.76%
    15 Year 15 $2,635,000 $175,667 $2,503 3.17%
    10 Year 6 $250,000 $41,667 $3,312 0.98%
    30+ year 4 $3,340,000 $835,000 $9,820 3.47%
    Other 2 $240,000 $120,000 $2,487 1.50%
    20 Year 1 $265,000 $265,000 $3,276 3.38%

    For 2020, Fairport Savings Bank's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 63 $11,485,000 $182,302
    $1k-2k 13 $2,235,000 $171,923
    $2k-3k 6 $1,330,000 $221,667
    $3k-4k 6 $3,790,000 $631,667

    Fairport Savings Bank's average total fees were $3,627, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 65 $14,925,000 $229,615
    4-5% 15 $1,795,000 $119,667
    2.5-3% 10 $2,170,000 $217,000
    <2.5% 7 $405,000 $57,857
    5-6% 1 $35,000 $35,000

    During 2020, Fairport Savings Bank's average interest rate for loans was 3.76%, while their most frequently originated rate bucket for loans was 3-4%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 42 $6,110,000 $145,476 $3,232 3.61%
    $200k-400k 29 $7,545,000 $260,172 $3,811 3.47%
    $100,000 or less 21 $1,145,000 $54,524 $3,211 3.05%
    $400k-600k 4 $2,050,000 $512,500 $4,873 3.28%
    $1MM+ 1 $1,685,000 $1,685,000 $15,654 4.00%
    $600k-1MM 1 $795,000 $795,000 $9,431 3.13%

    2020 saw Fairport Savings Bank place emphasis on $100k-200k loans with 42 originations, totaling $6,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $3,255,000 $130,200 $3,856 3.56%
    $100k-150k 22 $4,990,000 $226,818 $3,361 3.27%
    $50k or less 18 $1,470,000 $81,667 $3,115 3.20%
    $75k-100k 18 $3,480,000 $193,333 $3,556 3.78%
    $150k-250k 9 $2,715,000 $301,667 $3,431 3.19%
    $250k+ 6 $3,420,000 $570,000 $7,241 3.54%

    Fairport Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $100k-150k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $4,370,000 $182,083 $3,368 3.30%
    30-36% 12 $2,690,000 $224,167 $3,469 3.52%
    <20% 8 $1,230,000 $153,750 $3,280 3.11%
    50-60% 8 $1,220,000 $152,500 $5,816 2.86%
    37% 5 $865,000 $173,000 $4,483 3.83%
    40% 5 $1,235,000 $247,000 $2,924 3.60%
    36% 5 $765,000 $153,000 $3,769 3.33%
    42% 4 $2,350,000 $587,500 $7,062 4.00%
    43% 4 $610,000 $152,500 $3,968 3.59%
    39% 3 $365,000 $121,667 $2,951 2.54%
    44% 3 $435,000 $145,000 $3,012 4.54%
    45% 3 $675,000 $225,000 $3,214 3.42%
    46% 3 $245,000 $81,667 $2,948 4.13%
    49% 3 $515,000 $171,667 $2,965 3.79%
    41% 2 $320,000 $160,000 $2,366 3.44%
    47% 2 $390,000 $195,000 $2,806 3.19%
    48% 2 $480,000 $240,000 $3,446 3.88%
    38% 2 $570,000 $285,000 $3,274 3.44%

    Fairport Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $19,330,000 $197,245 $3,706 3.43%

    Approval Rates

    Total approvals of all applications
    92.56%

    Fairport Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.73%

    Fairport Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 98 $19,330,000 $197,245

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 98 $19,330,000 $197,245

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $140,000 $70,000 $2,319 3.25%
    40-60% 6 $1,200,000 $200,000 $2,683 3.23%
    60-80% 37 $9,525,000 $257,432 $3,634 3.47%
    80-100% 45 $8,025,000 $178,333 $3,815 3.75%
    Over 100% 2 $380,000 $190,000 $6,987 3.81%
    Under 20% 6 $60,000 $10,000 $0 1.00%