Esl Federal Credit Union Mortgage Rates, Fees & Info
Rochester, NYLEI: 549300KUYF5QOROM7N37
Tax ID: 16-1490324
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
7,599Origination Dollar Volume (All Markets)
$908,195,000Awards
ESL Federal Credit Union - 2021
ESL Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications85.99%
Esl Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination87.66%
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% |
