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 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, Corning, Seneca Falls, and Syracuse among others. We have data for 8 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% 12/3/24
    30 Year Conventional Purchase 6.60% 12/3/24
    30 Year Conventional Refi 6.36% 12/3/24
    30 Year Cash-out Refi 6.56% 12/3/24
    30 Year FHA Purchase 7.64% 12/3/24
    30 Year FHA Refi 6.27% 12/3/24
    30 Year VA Purchase 6.06% 12/3/24
    15 Year Conventional Purchase 6.23% 12/3/24
    15 Year Conventional Refi 5.99% 12/3/24
    15 Year Cash-out Refi 5.99% 12/3/24
    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

    7,599

    Origination Dollar Volume (All Markets)

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

    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: 52
    Pittsford Federal Credit Union
    Similarity Rank: 52
    Elmira Savings Bank
    Similarity Rank: 195
    VISIONS
    Similarity Rank: 260
    ESL Federal Credit Union
    Similarity Rank: 288
    FAMILY FIRST OF NY
    Similarity Rank: 424
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 495
    THE SUMMIT Federal Credit Union
    Similarity Rank: 592
    Five Star Bank
    Similarity Rank: 715
    The Lyons National Bank
    Similarity Rank: 2002

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,302 $639,680,000 $148,694 $1,836 3.13%
    HELOC 3,205 $256,105,000 $79,908 n/a 2.82%
    FHA 91 $12,245,000 $134,560 $5,393 2.91%
    VA 1 $165,000 $165,000 $1,920 2.75%

    For 2021, Esl Federal Credit Union's most frequently originated type of loan was Conventional, with 4,302 originations. Their 2nd most popular type was HELOC, with 3,205 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Esl Federal Credit Union's most frequently cited loan purpose was Refi, with 2,559 originations. The 2nd most popular reason was 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 2021, Esl Federal Credit Union's most frequently cited loan duration was Other, with 3,412 originations. The 2nd most popular length was 30 Year, with 1,498 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 50 $12,980,000 $259,600
    $4k-5k 20 $5,400,000 $270,000
    $5k+ 18 $7,280,000 $404,444

    Esl Federal Credit Union's average total fees were $3,229, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.97%, while their most frequently originated rate bucket for loans was <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 or Islander 7 $775,000 $110,714 $1,749 3.11%

    Approval Rates

    Total approvals of all applications
    87.42%

    Esl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.21%

    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%