Suffolk Mortgage Rates, Fees & Info
Medford, NYLEI: 549300NWYTCEH9RSSW54
Tax ID: 11-2200411
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Suffolk is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. Suffolk has a high proportion of conventional loans. Their top markets include New York, Port St. Lucie, Hudson, Deltona, and Punta Gorda among others. Suffolk has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Suffolk is typically a high fee lendor.Originations
1,042Origination Dollar Volume (All Markets)
$172,270,000Relative Rate
Suffolk's average 30 year fixed rate mortgage of loans were
2.28%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.87%.
Relative Fees
Suffolk's average total fees for a 30 year fixed rate
mortgage are $6,451.
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 |
---|---|---|---|---|---|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,011 | $166,135,000 | $164,327 | $4,127 | 2.62% |
Outside of Metro Areas | 3 | $1,635,000 | $545,000 | $15,383 | 2.41% |
PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $5,165 | 2.17% |
Hudson, NY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 1.99% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,373 | 2.25% |
PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,673 | 2.88% |
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,712 | 2.88% |
FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,571 | 2.75% |
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,408 | 2.43% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,042 | 2.25% |
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,042 | 3.00% |
Auburn, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,854 | 2.25% |
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $559 | 4.50% |
DOVER, DE (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,774 | 2.88% |
JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,798 | 2.25% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $3,241 | 2.06% |
STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,207 | 2.25% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,922 | 2.38% |
SYRACUSE, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,668 | 3.13% |
RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 1.99% |
Oneonta, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 1.99% |
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 1.99% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 1.99% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.99% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 1.99% |
Suffolk's top markets include New York, Port St. Lucie, Hudson, Deltona, and Punta Gorda among others.
Product Mix
Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Conventional | 1,042 | $172,270,000 | $165,326 | $4,190 | 2.62% |
For the 2021 period, Suffolk's most frequently originated loan type of loans were Conventional, with 1,042 originations.
Loan Reason
Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Home Improvement | 525 | $56,815,000 | $108,219 | $1,247 | 2.55% |
Cash Out Refi | 259 | $60,855,000 | $234,961 | $5,535 | 2.64% |
Refi | 95 | $23,695,000 | $249,421 | $5,009 | 2.68% |
Other | 85 | $9,585,000 | $112,765 | $1,223 | 2.99% |
Home Purchase | 78 | $21,320,000 | $273,333 | $5,694 | 2.59% |
For the 2021, Suffolk's most frequently cited loan purpose of loans were Home Improvement, with 525 originations. The 2nd most popular reason of loans were Cash Out Refi, with 259 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 781 | $129,205,000 | $165,435 | $6,451 | 2.28% |
15 Year | 89 | $22,825,000 | $256,461 | $4,748 | 2.58% |
10 Year | 88 | $8,270,000 | $93,977 | $1,783 | 4.08% |
20 Year | 61 | $10,235,000 | $167,787 | $3,533 | 4.28% |
5 Year | 14 | $590,000 | $42,143 | $1,022 | 4.40% |
Other | 9 | $1,145,000 | $127,222 | $2,943 | 3.96% |
For the 2021, Suffolk's most frequently cited loan length of loans were 30 Year, with 781 originations. The 2nd most popular length of loans were 15 Year, with 89 originations.
Origination Fees
Origination Fee | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 136 | $9,800,000 | $72,059 |
$1k-2k | 106 | $25,780,000 | $243,208 |
$2k-3k | 51 | $14,185,000 | $278,137 |
$3k-4k | 49 | $15,545,000 | $317,245 |
$5k+ | 31 | $13,595,000 | $438,548 |
$6,451 of loans were Suffolk's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 136 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
<2.5% | 705 | $110,655,000 | $156,957 |
3-4% | 131 | $27,455,000 | $209,580 |
2.5-3% | 94 | $26,890,000 | $286,064 |
4-5% | 91 | $5,885,000 | $64,670 |
5-6% | 11 | $615,000 | $55,909 |
6-7% | 5 | $435,000 | $87,000 |
7-8% | 4 | $230,000 | $57,500 |
Over 8% | 1 | $105,000 | $105,000 |
During 2021, Suffolk's average interest rate of loans were 2.28%, while their most frequently originated rate bucket of loans were <2.5%, with 705 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100,000 or less | 412 | $22,850,000 | $55,461 | $1,192 | 2.86% |
$100k-200k | 281 | $37,355,000 | $132,936 | $3,440 | 2.42% |
$200k-400k | 272 | $74,250,000 | $272,978 | $5,656 | 2.50% |
$400k-600k | 71 | $33,415,000 | $470,634 | $7,167 | 2.46% |
$600k-1MM | 6 | $4,400,000 | $733,333 | $16,117 | 2.98% |
2021 saw Suffolk place emphasis on $100,000 or less loans with 412 originations, totaling $22,850,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100k-150k | 312 | $47,900,000 | $153,526 | $4,197 | 2.64% |
$150k-250k | 299 | $52,925,000 | $177,007 | $4,359 | 2.56% |
$75k-100k | 174 | $24,820,000 | $142,644 | $3,764 | 2.82% |
$250k+ | 122 | $30,530,000 | $250,246 | $5,759 | 2.31% |
$50k-75k | 111 | $14,005,000 | $126,171 | $3,888 | 2.73% |
$50k or less | 24 | $2,090,000 | $87,083 | $2,966 | 2.87% |
Suffolk lent most frequently to those with incomes in the $100k-150k range, with 312 originations. The second most popular income band? $150k-250k, with 299 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-30% | 242 | $41,540,000 | $171,653 | $4,226 | 2.50% |
30-36% | 199 | $34,865,000 | $175,201 | $4,482 | 2.60% |
<20% | 83 | $12,635,000 | $152,229 | $3,399 | 2.52% |
43% | 48 | $8,090,000 | $168,542 | $4,484 | 2.77% |
41% | 43 | $6,625,000 | $154,070 | $4,183 | 2.42% |
40% | 40 | $6,600,000 | $165,000 | $3,852 | 2.82% |
45% | 40 | $7,660,000 | $191,500 | $4,011 | 2.88% |
46% | 37 | $4,445,000 | $120,135 | $3,984 | 2.49% |
47% | 37 | $4,875,000 | $131,757 | $3,724 | 2.79% |
42% | 36 | $6,940,000 | $192,778 | $4,286 | 2.76% |
38% | 36 | $5,930,000 | $164,722 | $3,669 | 2.82% |
39% | 36 | $6,580,000 | $182,778 | $5,792 | 2.75% |
44% | 35 | $5,065,000 | $144,714 | $4,128 | 3.02% |
36% | 35 | $6,575,000 | $187,857 | $4,996 | 2.41% |
48% | 32 | $5,530,000 | $172,813 | $2,978 | 2.90% |
37% | 31 | $3,735,000 | $120,484 | $3,689 | 2.49% |
49% | 18 | $2,830,000 | $157,222 | $5,210 | 2.32% |
50-60% | 14 | $1,750,000 | $125,000 | $3,684 | 2.81% |
Suffolk lent most frequently to those with DTI ratios of 20-30%, with 242 originations. The next most common DTI ratio? 30-36%, with 199 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 847 | $132,485,000 | $156,417 | $3,847 | 2.62% |
Not provided | 124 | $25,500,000 | $205,645 | $5,554 | 2.70% |
Asian | 30 | $7,150,000 | $238,333 | $6,599 | 2.05% |
Black | 38 | $6,620,000 | $174,211 | $4,770 | 2.89% |
Asian Indian | 1 | $335,000 | $335,000 | $5,993 | 2.25% |
American Indian | 2 | $180,000 | $90,000 | $1,822 | 3.12% |
Approval Rates
Total approvals of all applications68.02%
Suffolk has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination72.36%
Suffolk has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 1,042 | $172,270,000 | $165,326 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
1,042 | $172,270,000 | $165,326 |
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-40% | 254 | $45,600,000 | $179,528 | $3,476 | 2.42% |
40-60% | 132 | $36,190,000 | $274,167 | $5,046 | 2.42% |
60-80% | 105 | $35,615,000 | $339,190 | $6,838 | 2.75% |
80-100% | 43 | $15,935,000 | $370,581 | $6,922 | 2.89% |
Under 20% | 508 | $38,930,000 | $76,634 | $1,297 | 2.72% |