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

Jump to:

  • 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 Refi and Cash Out Refi 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, Corning, Seneca Falls, and Utica among others. We have data for 6 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% 4/21/24
    30 Year Conventional Purchase 6.60% 4/21/24
    30 Year Conventional Refi 6.36% 4/21/24
    30 Year Cash-out Refi 6.56% 4/21/24
    30 Year FHA Purchase 7.64% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    30 Year VA Purchase 6.06% 4/21/24
    15 Year Conventional Purchase 6.23% 4/21/24
    15 Year Conventional Refi 5.99% 4/21/24
    15 Year Cash-out Refi 5.99% 4/21/24
    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

    6,037

    Origination Dollar Volume (All Markets)

    $736,485,000

    Awards

    ESL Federal Credit Union 30 Year Conventional Loans gold ESL Federal Credit Union 30 Year Conventional Loans bronze ESL Federal Credit Union FHA Loans silver ESL Federal Credit Union FHA Loans gold
    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) 5,825 $714,895,000 $122,729 $2,275 3.40%
    Batavia, NY (FHA|USDA|VA) 141 $11,855,000 $84,078 $1,770 3.46%
    Corning, NY (FHA|USDA|VA) 28 $5,310,000 $189,643 $3,250 3.19%
    Outside of Metro Areas 28 $2,440,000 $87,143 $2,175 3.87%
    Seneca Falls, NY (FHA|USDA|VA) 14 $1,470,000 $105,000 $2,170 3.91%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $515,000 $515,000 $2,967 2.50%
    Esl Federal Credit Union's top markets include Rochester, Batavia, Corning, Seneca Falls, and Utica 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.

    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 60
    Pittsford Federal Credit Union
    Similarity Rank: 70
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 190
    Elmira Savings Bank
    Similarity Rank: 224
    FAMILY FIRST OF NY
    Similarity Rank: 378
    Fairport Savings Bank
    Similarity Rank: 399
    ESL Federal Credit Union
    Similarity Rank: 402
    THE SUMMIT Federal Credit Union
    Similarity Rank: 432
    Citizens & Northern Bank
    Similarity Rank: 616
    Five Star Bank
    Similarity Rank: 988

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,640 $543,810,000 $149,398 $2,204 3.42%
    HELOC 2,327 $183,595,000 $78,898 n/a 3.38%
    FHA 70 $9,080,000 $129,714 $5,208 3.15%

    For 2020, Esl Federal Credit Union's most frequently originated type of loan was Conventional, with 3,640 originations. Their 2nd most popular type was HELOC, with 2,327 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,032 $289,000,000 $142,224 $1,962 3.21%
    Other 1,554 $112,220,000 $72,214 $0 3.85%
    Cash Out Refi 977 $161,335,000 $165,133 $2,932 3.08%
    Home Purchase 746 $135,300,000 $181,367 $3,317 3.06%
    Home Improvement 728 $38,630,000 $53,063 $77 3.73%

    For 2020, Esl Federal Credit Union's most frequently cited loan purpose was Refi, with 2,032 originations. The 2nd most popular reason was Other, with 1,554 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,450 $259,680,000 $105,992 $340 3.41%
    15 Year 1,187 $156,895,000 $132,178 $2,367 3.18%
    30 Year 1,093 $195,465,000 $178,833 $3,258 3.21%
    20 Year 600 $79,780,000 $132,967 $1,922 3.76%
    10 Year 511 $38,425,000 $75,196 $873 3.76%
    5 Year 196 $6,240,000 $31,837 $98 3.61%

    For 2020, Esl Federal Credit Union's most frequently cited loan duration was Other, with 2,450 originations. The 2nd most popular length was 15 Year, with 1,187 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,955 $298,695,000 $152,785
    $<1k 903 $59,855,000 $66,285
    $2k-3k 316 $61,800,000 $195,570
    $3k-4k 58 $14,900,000 $256,897
    $4k-5k 23 $7,375,000 $320,652
    $5k+ 15 $6,685,000 $445,667

    Esl Federal Credit Union's average total fees were $3,258, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,955 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,871 $266,625,000 $142,504
    2.5-3% 1,493 $218,405,000 $146,286
    <2.5% 1,244 $103,890,000 $83,513
    4-5% 867 $55,795,000 $64,354
    5-6% 415 $17,485,000 $42,133
    6-7% 100 $3,280,000 $32,800
    7-8% 15 $235,000 $15,667

    During 2020, Esl Federal Credit Union's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 1,871 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,962 $148,790,000 $50,233 $1,076 3.68%
    $100k-200k 2,324 $315,500,000 $135,757 $2,740 3.13%
    $200k-400k 680 $173,420,000 $255,029 $3,303 3.13%
    $400k-600k 52 $23,980,000 $461,154 $4,376 3.02%
    $600k-1MM 13 $9,235,000 $710,385 $7,915 2.99%
    $1MM+ 6 $65,560,000 $10,926,667 $5,699 3.13%

    2020 saw Esl Federal Credit Union place emphasis on $100,000 or less loans with 2,962 originations, totaling $148,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,560 $141,080,000 $90,436 $2,148 3.37%
    $100k-150k 1,336 $169,740,000 $127,051 $2,474 3.42%
    $75k-100k 1,127 $122,055,000 $108,301 $2,257 3.40%
    $50k or less 1,100 $77,540,000 $70,491 $1,834 3.46%
    $150k-250k 666 $107,800,000 $161,862 $2,488 3.38%
    $250k+ 175 $43,525,000 $248,714 $3,655 3.20%

    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? $100k-150k, with 1,336 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,566 $174,810,000 $111,628 $2,285 3.35%
    30-36% 1,098 $125,850,000 $114,617 $2,387 3.40%
    <20% 798 $80,130,000 $100,414 $2,004 3.16%
    50-60% 220 $19,120,000 $86,909 $1,705 3.75%
    49% 218 $24,910,000 $114,266 $2,054 3.51%
    45% 197 $22,465,000 $114,036 $2,335 3.47%
    39% 186 $20,730,000 $111,452 $2,260 3.45%
    37% 178 $20,800,000 $116,854 $2,249 3.54%
    48% 176 $16,740,000 $95,114 $2,245 3.48%
    38% 172 $19,730,000 $114,709 $2,224 3.46%
    41% 163 $20,515,000 $125,859 $2,462 3.43%
    47% 161 $16,195,000 $100,590 $1,899 3.46%
    43% 157 $19,845,000 $126,401 $2,288 3.52%
    46% 152 $17,800,000 $117,105 $2,356 3.51%
    44% 149 $17,675,000 $118,624 $2,610 3.52%
    40% 145 $16,745,000 $115,483 $2,426 3.52%
    36% 139 $15,295,000 $110,036 $2,446 3.47%
    42% 138 $16,250,000 $117,754 $2,376 3.47%
    >60% 2 $160,000 $80,000 $0 4.83%

    Esl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,566 originations. The next most common DTI ratio? 30-36%, with 1,098 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,141 $571,335,000 $111,133 $2,237 3.40%
    Not applicable 20 $69,600,000 $3,480,000 $0 0.00%
    Not provided 525 $62,835,000 $119,686 $2,535 3.30%
    Black 218 $17,820,000 $81,743 $2,127 3.58%
    Asian 99 $11,765,000 $118,838 $2,320 3.34%
    American Indian 30 $2,870,000 $95,667 $2,873 3.49%
    Native Hawaiian or Islander 4 $260,000 $65,000 $3,138 3.25%

    Approval Rates

    Total approvals of all applications
    86.98%

    Esl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.29%

    Esl Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,037 $736,485,000 $121,995

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $68,820,000 $4,915,714
    Single Family (1-4 Units):Site-Built 6,023 $667,665,000 $110,853

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,289 $83,355,000 $64,666 $744 3.59%
    40-60% 1,184 $134,710,000 $113,775 $2,225 3.22%
    60-80% 1,728 $344,620,000 $199,433 $2,776 3.17%
    80-100% 872 $147,540,000 $169,197 $3,148 3.24%
    Over 100% 1 $125,000 $125,000 $0 0.00%
    Under 20% 963 $26,135,000 $27,139 $86 3.92%