Esl Federal Credit Union Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300KUYF5QOROM7N37

Tax ID: 16-1490324

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Mortgage Data

Review & Overview

Esl Federal Credit Union is a smaller credit union specializing in Other, 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 by origination volume include: Rochester, Batavia, Buffalo, Seneca Falls, and Corning among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Esl Federal Credit Union 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. Esl Federal Credit Union 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.60% 3/28/24
30 Year Conventional Refi 6.36% 3/28/24
30 Year Cash-out Refi 6.56% 3/28/24
30 Year FHA Purchase 7.64% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.06% 3/28/24
15 Year Conventional Purchase 6.23% 3/28/24
15 Year Conventional Refi 5.99% 3/28/24
15 Year Cash-out Refi 5.99% 3/28/24
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.

Esl Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Esl Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

5,428

Origination Dollar Volume (All Markets)

$425,430,000

Awards

ESL Federal Credit Union 30 Year Conventional Loans bronze ESL Federal Credit Union 30 Year Conventional Loans bronze ESL Federal Credit Union FHA Loans bronze ESL Federal Credit Union 30 Year Conventional Loans bronze
Show all (4) 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
ROCHESTER, NY (FHA|USDA|VA) 5,208 $408,850,000 $78,504 $2,837 5.12%
Batavia, NY (FHA|USDA|VA) 144 $9,170,000 $63,681 $2,870 5.33%
Outside of Metro Areas 27 $1,665,000 $61,667 $2,415 5.12%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 22 $1,620,000 $73,636 $2,850 5.67%
Seneca Falls, NY (FHA|USDA|VA) 10 $1,120,000 $112,000 $2,868 4.24%
Corning, NY (FHA|USDA|VA) 10 $930,000 $93,000 $2,968 4.73%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $735,000 $735,000 $0 5.00%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 2 $460,000 $230,000 $3,357 4.06%
SYRACUSE, NY (FHA|USDA|VA) 1 $325,000 $325,000 $3,249 4.50%
Auburn, NY (FHA|USDA|VA) 1 $305,000 $305,000 $3,486 4.00%
Olean, NY (FHA|USDA|VA) 1 $185,000 $185,000 $3,086 4.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
Esl Federal Credit Union's top markets include Rochester, Batavia, Buffalo, Seneca Falls, and Corning among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    Pittsford Federal Credit Union
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    THE SUMMIT Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,727 $187,415,000 $68,726 n/a 5.24%
    Conventional 2,645 $230,885,000 $87,291 $2,699 5.00%
    FHA 56 $7,130,000 $127,321 $5,303 4.56%

    For 2018, Esl Federal Credit Union's most frequently originated type of loan was HELOC, with 2,727 originations. Their 2nd most popular type was Conventional, with 2,645 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 2,382 $142,490,000 $59,819 $0 5.42%
    Refi 1,574 $133,880,000 $85,057 $2,558 4.80%
    Home Purchase 886 $116,020,000 $130,948 $2,910 4.65%
    Home Improvement 537 $25,265,000 $47,048 $51 5.45%
    Cash Out Refi 49 $7,775,000 $158,673 $2,637 4.63%

    For 2018, Esl Federal Credit Union's most frequently cited loan purpose was Other, with 2,382 originations. The 2nd most popular reason was Refi, with 1,574 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,901 $204,005,000 $70,322 $2,119 5.24%
    30 Year 696 $95,960,000 $137,874 $3,169 4.65%
    20 Year 581 $52,875,000 $91,007 $2,740 5.39%
    15 Year 489 $40,085,000 $81,973 $3,033 4.91%
    10 Year 478 $26,140,000 $54,686 $2,619 4.96%
    5 Year 283 $6,365,000 $22,491 $497 5.14%

    For 2018, Esl Federal Credit Union's most frequently cited loan duration was Other, with 2,901 originations. The 2nd most popular length was 30 Year, with 696 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 797 $105,115,000 $131,888
    $2k-3k 90 $13,950,000 $155,000
    $<1k 73 $555,000 $7,603
    $3k-4k 22 $4,360,000 $198,182
    $4k-5k 5 $1,125,000 $225,000
    $5k+ 3 $795,000 $265,000

    Esl Federal Credit Union's average total fees were $3,169, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 797 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,696 $184,070,000 $108,532
    5-6% 1,454 $116,390,000 $80,048
    6-7% 1,026 $38,150,000 $37,183
    2.5-3% 481 $34,565,000 $71,861
    3-4% 313 $27,425,000 $87,620
    7-8% 214 $4,190,000 $19,579
    <2.5% 128 $9,120,000 $71,250

    During 2018, Esl Federal Credit Union's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 1,696 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,727 $164,865,000 $44,235 $2,136 5.34%
    $100k-200k 1,441 $185,415,000 $128,671 $3,158 4.66%
    $200k-400k 239 $58,045,000 $242,866 $3,590 4.60%
    $400k-600k 16 $7,420,000 $463,750 $5,335 4.52%
    $600k-1MM 3 $1,965,000 $655,000 $5,067 4.88%
    $1MM+ 2 $7,720,000 $3,860,000 $0 0.00%

    2018 saw Esl Federal Credit Union place emphasis on $100,000 or less loans with 3,727 originations, totaling $164,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,438 $98,890,000 $68,769 $2,746 5.14%
    $50k or less 1,321 $75,695,000 $57,301 $2,458 5.08%
    $100k-150k 1,041 $91,285,000 $87,690 $3,285 5.15%
    $75k-100k 933 $71,325,000 $76,447 $3,191 5.19%
    $150k-250k 483 $50,915,000 $105,414 $3,301 5.07%
    $250k+ 140 $22,650,000 $161,786 $3,448 4.81%

    Esl Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,438 originations. The second most popular income band? $50k or less, with 1,321 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,334 $101,300,000 $75,937 $2,612 5.07%
    30-36% 948 $71,140,000 $75,042 $2,739 5.14%
    <20% 728 $57,750,000 $79,327 $2,423 4.88%
    50-60% 244 $18,240,000 $74,754 $4,481 5.25%
    49% 190 $12,600,000 $66,316 $3,118 5.47%
    45% 168 $13,570,000 $80,774 $2,989 5.22%
    43% 165 $14,145,000 $85,727 $3,117 5.11%
    48% 161 $11,425,000 $70,963 $3,543 5.35%
    41% 153 $13,435,000 $87,810 $2,918 5.17%
    47% 149 $11,715,000 $78,624 $3,141 5.21%
    36% 149 $10,095,000 $67,752 $2,723 5.19%
    42% 147 $12,005,000 $81,667 $2,972 5.21%
    46% 145 $10,605,000 $73,138 $2,989 5.36%
    37% 144 $10,630,000 $73,819 $2,906 5.16%
    39% 143 $11,495,000 $80,385 $2,912 5.10%
    40% 133 $10,265,000 $77,180 $3,088 5.12%
    44% 131 $11,105,000 $84,771 $3,221 5.01%
    38% 123 $9,225,000 $75,000 $2,847 5.23%
    >60% 53 $3,645,000 $68,774 $1,935 4.93%

    Esl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,334 originations. The next most common DTI ratio? 30-36%, with 948 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,524 $355,020,000 $78,475 $2,837 5.11%
    Not provided 540 $39,830,000 $73,759 $2,969 5.18%
    Black 261 $13,415,000 $51,398 $2,820 5.20%
    Not applicable 27 $11,685,000 $432,778 $2,911 4.56%
    Asian 63 $4,375,000 $69,444 $2,494 5.04%
    American Indian 6 $520,000 $86,667 $5,214 4.77%
    Native Hawaiian or Islander 4 $500,000 $125,000 $2,864 5.96%
    Other Asian 1 $65,000 $65,000 $0 5.50%
    Other Pacific Islander 2 $20,000 $10,000 $0 6.85%

    Approval Rates

    Total approvals of all applications
    85.34%

    Esl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.11%

    Esl Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,428 $425,430,000 $78,377

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $7,640,000 $1,273,333
    Single Family (1-4 Units):Site-Built 5,422 $417,790,000 $77,055

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,403 $80,675,000 $57,502 $2,531 5.35%
    40-60% 813 $72,795,000 $89,539 $2,519 4.93%
    60-80% 1,014 $122,350,000 $120,661 $2,995 4.71%
    80-100% 884 $119,130,000 $134,762 $3,259 4.81%
    Under 20% 1,314 $30,480,000 $23,196 $552 5.55%