Esl Federal Credit Union Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300KUYF5QOROM7N37

Tax ID: 16-1490324

5 stars - out of 5 stars, based on 87 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Esl Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Esl Federal Credit Union 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 include Rochester, Batavia, Corning, Seneca Falls, and Syracuse among others. Esl Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Esl Federal Credit Union is typically a low fee lendor.


Originations

7,599

Origination Dollar Volume (All Markets)

$908,195,000
Show all (7) awards

Relative Rate

Esl Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.97%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.18%.

Relative Fees

Esl Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,229.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ROCHESTER, NY (FHA|USDA|VA) 7,274 $879,240,000 $120,874 $1,936 2.99%
Batavia, NY (FHA|USDA|VA) 218 $18,770,000 $86,101 $1,302 3.08%
Outside of Metro Areas 43 $3,655,000 $85,000 $1,214 2.96%
Corning, NY (FHA|USDA|VA) 30 $3,550,000 $118,333 $1,883 3.01%
Seneca Falls, NY (FHA|USDA|VA) 31 $2,495,000 $80,484 $1,443 3.05%
SYRACUSE, NY (FHA|USDA|VA) 1 $265,000 $265,000 $3,313 3.63%
Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $115,000 $115,000 $2,423 2.75%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $105,000 $105,000 $2,706 2.63%

Esl Federal Credit Union's top markets include Rochester, Batavia, Corning, Seneca Falls, and Syracuse among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 7,507 $895,785,000 $119,327 $1,836 3.00%
FHA 91 $12,245,000 $134,560 $5,393 2.91%
VA 1 $165,000 $165,000 $1,920 2.75%

For the 2021 period, Esl Federal Credit Union's most frequently originated loan type of loans were Conventional, with 7,507 originations. Their 2nd most popular type is FHA, with 91 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 2,559 $300,415,000 $117,395 $1,259 2.93%
Other 1,754 $131,230,000 $74,818 $0 3.22%
Home Improvement 1,376 $101,830,000 $74,004 $1,147 3.11%
Cash Out Refi 1,016 $166,010,000 $163,396 $2,844 2.80%
Home Purchase 894 $208,710,000 $233,456 $3,391 2.78%

For the 2021, Esl Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 2,559 originations. The 2nd most popular reason of loans were Other, with 1,754 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 3,412 $363,450,000 $106,521 $390 2.87%
30 Year 1,498 $261,240,000 $174,393 $3,229 2.97%
15 Year 1,251 $155,145,000 $124,017 $1,920 2.88%
10 Year 609 $47,915,000 $78,678 $605 3.36%
20 Year 599 $73,155,000 $122,129 $1,059 3.66%
5 Year 230 $7,290,000 $31,696 $122 3.08%

For the 2021, Esl Federal Credit Union's most frequently cited loan length of loans were Other, with 3,412 originations. The 2nd most popular length of loans were 30 Year, with 1,498 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,309 $345,575,000 $149,664
$<1k 1,692 $131,210,000 $77,547
$2k-3k 267 $54,485,000 $204,064
$3k-4k 70 $18,380,000 $262,571
$5k+ 18 $7,280,000 $404,444

$3,229 of loans were Esl Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,309 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 2,464 $215,140,000 $87,313
2.5-3% 2,131 $308,875,000 $144,944
3-4% 2,100 $241,720,000 $115,105
4-5% 601 $37,495,000 $62,388
5-6% 249 $9,875,000 $39,659

During 2021, Esl Federal Credit Union's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were <2.5%, with 2,464 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 4,010 $209,950,000 $52,357 $830 3.07%
$100k-200k 2,700 $370,230,000 $137,122 $2,429 2.91%
$200k-400k 818 $207,780,000 $254,010 $3,021 2.95%
$400k-600k 49 $23,045,000 $470,306 $4,675 2.83%
$1MM+ 12 $89,690,000 $7,474,167 $0 0.00%
$600k-1MM 10 $7,500,000 $750,000 $21,384 2.75%

2021 saw Esl Federal Credit Union place emphasis on $100,000 or less loans with 4,010 originations, totaling $209,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 2,104 $190,640,000 $90,608 $1,833 2.96%
$100k-150k 1,573 $201,915,000 $128,363 $2,072 3.03%
$75k-100k 1,446 $155,310,000 $107,407 $1,880 3.06%
$50k or less 1,430 $104,130,000 $72,818 $1,620 2.93%
$150k-250k 733 $110,295,000 $150,471 $2,318 3.04%
$250k+ 213 $45,935,000 $215,657 $2,904 2.91%

Esl Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2,104 originations. The second most popular income band? $100k-150k, with 1,573 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,930 $206,420,000 $106,953 $1,818 2.95%
30-36% 1,372 $153,020,000 $111,531 $2,117 3.00%
<20% 1,043 $102,155,000 $97,943 $1,510 2.77%
49% 319 $29,965,000 $93,934 $1,308 3.16%
43% 243 $28,735,000 $118,251 $2,041 3.10%
36% 242 $29,480,000 $121,818 $2,205 3.02%
41% 231 $26,165,000 $113,268 $2,332 3.09%
39% 228 $24,430,000 $107,149 $1,943 3.06%
47% 226 $22,350,000 $98,894 $1,791 3.18%
45% 226 $24,870,000 $110,044 $1,697 3.13%
42% 216 $24,510,000 $113,472 $2,170 3.00%
48% 211 $21,635,000 $102,536 $1,895 3.14%
40% 208 $24,190,000 $116,298 $1,891 3.08%
38% 208 $25,550,000 $122,837 $2,209 3.08%
37% 203 $22,895,000 $112,783 $2,195 2.98%
44% 202 $21,290,000 $105,396 $1,989 3.18%
46% 171 $16,565,000 $96,871 $1,471 3.15%
50-60% 85 $8,875,000 $104,412 $2,558 3.18%
>60% 4 $490,000 $122,500 $2,648 2.58%

Esl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,930 originations. The next most common DTI ratio? 30-36%, with 1,372 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 6,449 $692,025,000 $107,307 $1,841 3.01%
Not applicable 35 $94,975,000 $2,713,571 $3,182 2.33%
Not provided 663 $80,445,000 $121,335 $2,531 2.92%
Black 328 $25,630,000 $78,140 $1,658 3.03%
Asian 90 $11,330,000 $125,889 $2,086 2.89%
American Indian 27 $3,015,000 $111,667 $1,981 2.98%
Native Hawaiian 7 $775,000 $110,714 $1,749 3.11%

Approval Rates

Total approvals of all applications
85.99%

Esl Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
87.66%

Esl Federal Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 7,599 $908,195,000 $119,515

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
7,599 $908,195,000 $119,515

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,813 $120,645,000 $66,544 $616 3.09%
40-60% 1,548 $190,070,000 $122,784 $1,804 2.88%
60-80% 1,899 $332,625,000 $175,158 $2,523 2.94%
80-100% 967 $224,275,000 $231,929 $3,017 3.04%
Under 20% 1,370 $40,480,000 $29,547 $88 3.07%