Suffolk Mortgage Rates, Fees & Info

Medford, NY

LEI: 549300NWYTCEH9RSSW54

Tax ID: 11-2200411

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Mortgage Data

Review & Overview

Suffolk is a smaller mortgage company specializing in Refi and Home Improvement loans. Suffolk has a high proportion of conventional loans. Their top markets by origination volume include: New York, Tampa, Philadelphia, Buffalo, and Albany among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Suffolk has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Suffolk is typically an average 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) 5.76% 3/28/24
30 Year Conventional Purchase 6.16% 3/28/24
30 Year Conventional Refi 6.54% 3/28/24
30 Year Cash-out Refi 6.41% 3/28/24
15 Year Conventional Purchase 5.92% 3/28/24
15 Year Conventional Refi 5.85% 3/28/24
15 Year Cash-out Refi 5.85% 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.

Suffolk Mortgage Calculator






Your Estimates

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

This is not an official calculator from Suffolk. 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

816

Origination Dollar Volume (All Markets)

$84,670,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 809 $84,335,000 $104,246 $1,757 3.70%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $150,000 $75,000 $722 3.20%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $65,000 $65,000 $619 4.75%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $35,000 $35,000 $981 3.95%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $35,000 $35,000 $1,436 4.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $25,000 $25,000 $694 4.50%
BINGHAMTON, NY (FHA|USDA|VA) 1 $25,000 $25,000 $923 4.75%
Suffolk's top markets include New York, Tampa, Philadelphia, Buffalo, and Albany among others.

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

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

    N C P D Federal Credit Union
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    Blue Foundry Bank
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    Investors Home Mortgage-IHM
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    GREATER ALLIANCE
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 418 $39,100,000 $93,541 $1,745 4.26%
    HELOC 398 $45,570,000 $114,497 n/a 3.12%

    For 2018, Suffolk's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was HELOC, with 398 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 356 $41,920,000 $117,753 $1,795 3.62%
    Home Improvement 253 $20,775,000 $82,115 $1,466 3.69%
    Other 137 $10,815,000 $78,942 $1,416 3.95%
    Cash Out Refi 53 $6,365,000 $120,094 $1,870 3.77%
    Home Purchase 17 $4,795,000 $282,059 $6,065 3.69%

    For 2018, Suffolk's most frequently cited loan purpose was Refi, with 356 originations. The 2nd most popular reason was Home Improvement, with 253 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 401 $46,755,000 $116,596 $6,622 3.13%
    10 Year 188 $13,770,000 $73,245 $1,520 3.96%
    20 Year 154 $18,160,000 $117,922 $1,910 4.71%
    5 Year 32 $1,760,000 $55,000 $1,376 3.74%
    15 Year 29 $3,315,000 $114,310 $2,115 4.61%
    Other 12 $910,000 $75,833 $1,579 3.89%

    For 2018, Suffolk's most frequently cited loan duration was 30 Year, with 401 originations. The 2nd most popular length was 10 Year, with 188 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 411 $36,975,000 $89,964
    $1k-2k 4 $1,030,000 $257,500
    $5k+ 2 $590,000 $295,000
    $2k-3k 1 $505,000 $505,000

    Suffolk's average total fees were $6,622, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 411 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 326 $37,880,000 $116,196
    3-4% 237 $19,635,000 $82,848
    4-5% 215 $24,425,000 $113,605
    5-6% 25 $1,775,000 $71,000
    6-7% 7 $505,000 $72,143
    7-8% 5 $255,000 $51,000
    Over 8% 1 $195,000 $195,000

    During 2018, Suffolk's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 326 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 456 $25,200,000 $55,263 $1,355 3.77%
    $100k-200k 297 $41,315,000 $139,108 $2,046 3.64%
    $200k-400k 54 $13,880,000 $257,037 $3,712 3.54%
    $400k-600k 9 $4,275,000 $475,000 $6,664 3.43%

    2018 saw Suffolk place emphasis on $100,000 or less loans with 456 originations, totaling $25,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 259 $27,905,000 $107,741 $1,828 3.65%
    $150k-250k 215 $23,155,000 $107,698 $1,737 3.68%
    $75k-100k 143 $13,385,000 $93,601 $1,708 3.84%
    $50k-75k 118 $10,700,000 $90,678 $1,670 3.64%
    $250k+ 43 $7,075,000 $164,535 $2,357 3.71%
    $50k or less 38 $2,450,000 $64,474 $1,346 3.97%

    Suffolk lent most frequently to those with incomes in the $100k-150k range, with 259 originations. The second most popular income band? $150k-250k, with 215 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 224 $24,170,000 $107,902 $1,706 3.56%
    <20% 148 $18,470,000 $124,797 $1,663 3.40%
    30-36% 146 $13,870,000 $95,000 $1,658 3.68%
    43% 30 $2,370,000 $79,000 $1,805 3.81%
    38% 29 $3,835,000 $132,241 $2,050 3.99%
    40% 29 $3,015,000 $103,966 $1,931 3.91%
    37% 27 $2,605,000 $96,481 $1,934 3.76%
    36% 26 $2,420,000 $93,077 $1,819 3.87%
    41% 25 $2,495,000 $99,800 $1,852 4.31%
    44% 24 $1,570,000 $65,417 $1,491 4.44%
    42% 21 $1,585,000 $75,476 $1,560 3.62%
    39% 19 $1,795,000 $94,474 $1,757 3.94%
    45% 16 $1,750,000 $109,375 $1,752 3.92%
    46% 14 $1,210,000 $86,429 $1,612 4.18%
    47% 13 $895,000 $68,846 $1,431 4.23%
    50-60% 9 $1,245,000 $138,333 $3,486 4.23%
    48% 8 $710,000 $88,750 $1,630 4.05%
    49% 7 $625,000 $89,286 $1,570 3.90%
    >60% 1 $35,000 $35,000 $1,173 4.75%

    Suffolk lent most frequently to those with DTI ratios of 20-30%, with 224 originations. The next most common DTI ratio? <20%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 755 $78,665,000 $104,192 $1,740 3.69%
    Not provided 31 $3,205,000 $103,387 $1,765 3.92%
    Black 19 $1,765,000 $92,895 $1,727 4.13%
    American Indian 2 $400,000 $200,000 $2,572 4.63%
    Asian 4 $270,000 $67,500 $1,654 3.30%
    Native Hawaiian or Islander 2 $150,000 $75,000 $0 3.75%
    Other Pacific Islander 2 $110,000 $55,000 $0 2.74%
    Chinese 1 $105,000 $105,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    66.37%

    Suffolk has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    81.37%

    Suffolk has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 816 $84,670,000 $103,762

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 816 $84,670,000 $103,762

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 279 $34,025,000 $121,953 $1,823 3.60%
    40-60% 72 $12,870,000 $178,750 $2,603 3.69%
    60-80% 35 $8,725,000 $249,286 $3,300 4.11%
    80-100% 6 $2,160,000 $360,000 $4,262 3.44%
    Under 20% 424 $26,890,000 $63,420 $1,378 3.75%