Esl Federal Credit Union Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300KUYF5QOROM7N37

Tax ID: 16-1490324

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    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, Seneca Falls, and Corning among others. We have data for 5 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/18/24
    30 Year Conventional Purchase 6.60% 4/18/24
    30 Year Conventional Refi 6.36% 4/18/24
    30 Year Cash-out Refi 6.56% 4/18/24
    30 Year FHA Purchase 7.64% 4/18/24
    30 Year FHA Refi 6.27% 4/18/24
    30 Year VA Purchase 6.06% 4/18/24
    15 Year Conventional Purchase 6.23% 4/18/24
    15 Year Conventional Refi 5.99% 4/18/24
    15 Year Cash-out Refi 5.99% 4/18/24
    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

    5,774

    Origination Dollar Volume (All Markets)

    $511,730,000
    Show all (8) 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) 5,559 $496,035,000 $89,231 $3,047 4.54%
    Batavia, NY (FHA|USDA|VA) 157 $10,775,000 $68,631 $2,847 4.80%
    Seneca Falls, NY (FHA|USDA|VA) 19 $1,955,000 $102,895 $3,816 4.32%
    Outside of Metro Areas 23 $1,615,000 $70,217 $2,777 4.67%
    Corning, NY (FHA|USDA|VA) 16 $1,350,000 $84,375 $3,137 3.78%
    Esl Federal Credit Union's top markets include Rochester, Batavia, Seneca Falls, and Corning among others.

    Their top states include:
  • New York (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
    Similarity Rank: 36
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 54
    Elmira Savings Bank
    Similarity Rank: 108
    Chemung Canal Trust Company
    Similarity Rank: 138
    ESL Federal Credit Union
    Similarity Rank: 140
    THE SUMMIT Federal Credit Union
    Similarity Rank: 195
    FAMILY FIRST OF NY
    Similarity Rank: 288
    Five Star Bank
    Similarity Rank: 420
    Ukrainian Federal Credit Union
    Similarity Rank: 423
    Fairport Savings Bank
    Similarity Rank: 549

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,344 $329,300,000 $98,475 $2,881 4.50%
    HELOC 2,320 $168,480,000 $72,621 n/a 4.63%
    FHA 110 $13,950,000 $126,818 $5,120 3.83%

    For 2019, Esl Federal Credit Union's most frequently originated type of loan was Conventional, with 3,344 originations. Their 2nd most popular type was HELOC, with 2,320 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 2,244 $136,330,000 $60,753 $500 4.99%
    Refi 1,632 $163,110,000 $99,945 $2,812 4.27%
    Home Purchase 1,037 $144,225,000 $139,079 $3,145 3.93%
    Home Improvement 703 $42,655,000 $60,676 $2,788 4.70%
    Cash Out Refi 158 $25,410,000 $160,823 $3,018 3.73%

    For 2019, Esl Federal Credit Union's most frequently cited loan purpose was Other, with 2,244 originations. The 2nd most popular reason was Refi, with 1,632 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,489 $194,935,000 $78,319 $2,914 4.64%
    30 Year 1,009 $158,475,000 $157,061 $3,340 3.91%
    15 Year 719 $65,555,000 $91,175 $2,859 4.39%
    20 Year 607 $53,925,000 $88,839 $3,300 5.12%
    10 Year 587 $30,145,000 $51,354 $2,748 4.71%
    5 Year 363 $8,695,000 $23,953 $500 4.80%

    For 2019, Esl Federal Credit Union's most frequently cited loan duration was Other, with 2,489 originations. The 2nd most popular length was 30 Year, with 1,009 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,151 $166,325,000 $144,505
    $2k-3k 170 $31,080,000 $182,824
    $<1k 123 $4,535,000 $36,870
    $3k-4k 28 $7,140,000 $255,000
    $4k-5k 9 $2,245,000 $249,444
    $5k+ 5 $1,635,000 $327,000

    Esl Federal Credit Union's average total fees were $3,340, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,151 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,963 $228,715,000 $116,513
    4-5% 1,289 $104,995,000 $81,455
    5-6% 1,053 $76,795,000 $72,930
    6-7% 630 $37,060,000 $58,825
    <2.5% 381 $26,745,000 $70,197
    7-8% 174 $4,130,000 $23,736
    2.5-3% 162 $12,360,000 $76,296

    During 2019, Esl Federal Credit Union's average interest rate for loans was 3.91%, while their most frequently originated rate bucket for loans was 3-4%, with 1,963 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3,707 $169,245,000 $45,656 $2,295 4.78%
    $100k-200k 1,664 $219,530,000 $131,929 $3,232 4.16%
    $200k-400k 374 $95,240,000 $254,652 $3,573 3.99%
    $400k-600k 17 $7,785,000 $457,941 $4,380 3.60%
    $1MM+ 7 $16,465,000 $2,352,143 $0 0.00%
    $600k-1MM 5 $3,465,000 $693,000 $6,289 3.53%

    2019 saw Esl Federal Credit Union place emphasis on $100,000 or less loans with 3,707 originations, totaling $169,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,560 $115,550,000 $74,071 $2,941 4.55%
    $50k or less 1,329 $78,705,000 $59,221 $2,687 4.48%
    $100k-150k 1,173 $119,195,000 $101,616 $3,308 4.58%
    $75k-100k 995 $87,255,000 $87,693 $3,238 4.58%
    $150k-250k 533 $66,045,000 $123,912 $3,390 4.58%
    $250k+ 135 $23,465,000 $173,815 $3,838 4.26%

    Esl Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,560 originations. The second most popular income band? $50k or less, with 1,329 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,392 $123,860,000 $88,980 $3,095 4.45%
    30-36% 915 $79,785,000 $87,197 $3,179 4.54%
    <20% 814 $61,950,000 $76,106 $1,752 4.37%
    50-60% 278 $22,040,000 $79,281 $4,446 4.86%
    49% 191 $13,735,000 $71,911 $3,360 4.86%
    37% 181 $17,045,000 $94,171 $3,282 4.57%
    48% 180 $14,480,000 $80,444 $3,448 4.66%
    36% 178 $16,630,000 $93,427 $2,970 4.56%
    41% 173 $14,835,000 $85,751 $3,290 4.48%
    39% 168 $13,880,000 $82,619 $3,255 4.67%
    46% 164 $13,060,000 $79,634 $3,131 4.68%
    38% 164 $15,200,000 $92,683 $3,233 4.51%
    44% 163 $15,575,000 $95,552 $3,027 4.66%
    47% 160 $12,570,000 $78,563 $3,469 4.75%
    42% 157 $15,105,000 $96,210 $3,283 4.59%
    40% 157 $14,495,000 $92,325 $3,130 4.45%
    45% 145 $13,255,000 $91,414 $3,187 4.45%
    43% 142 $11,950,000 $84,155 $3,195 4.73%
    >60% 28 $1,930,000 $68,929 $0 4.33%

    Esl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,392 originations. The next most common DTI ratio? 30-36%, with 915 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,027 $432,895,000 $86,114 $3,060 4.54%
    Not provided 355 $33,495,000 $94,352 $3,099 4.38%
    Not applicable 22 $20,060,000 $911,818 $2,769 3.63%
    Black 287 $16,965,000 $59,111 $2,833 4.72%
    Asian 62 $6,100,000 $98,387 $2,834 4.71%
    American Indian 17 $2,075,000 $122,059 $2,777 4.29%
    Native Hawaiian or Islander 3 $115,000 $38,333 $0 4.81%
    Vietnamese 1 $25,000 $25,000 $0 7.20%

    Approval Rates

    Total approvals of all applications
    83.79%

    Esl Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.34%

    Esl Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,774 $511,730,000 $88,627

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $18,860,000 $1,571,667
    Single Family (1-4 Units):Site-Built 5,762 $492,870,000 $85,538

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,447 $79,945,000 $55,249 $2,599 4.79%
    40-60% 923 $90,485,000 $98,034 $2,774 4.41%
    60-80% 1,156 $163,910,000 $141,791 $3,082 4.21%
    80-100% 933 $145,645,000 $156,104 $3,486 4.16%
    Over 100% 3 $425,000 $141,667 $0 2.99%
    Under 20% 1,312 $31,320,000 $23,872 $519 4.94%