Synergy Bank Mortgage Rates, Fees & Info
Houma, LALEI: 549300QAJ2SD5X8T7X10
Tax ID: 72-1433422
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Synergy Bank is a smaller bank specializing in Refi and Home Purchase loans. Synergy Bank has a high proportion of conventional loans. Their top markets by origination volume include: Houma, Baton Rouge, New Orleans, Hammond, and Gulfport among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Synergy Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
296Origination Dollar Volume (All Markets)
$55,350,000Top 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 |
|---|---|---|---|---|---|
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 177 | $32,585,000 | $184,096 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 101 | $15,895,000 | $157,376 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 8 | $2,900,000 | $362,500 | $0 | 0.00% |
| HAMMOND, LA (FHA|USDA|VA) | 2 | $1,380,000 | $690,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Morgan City, LA (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $0 | 0.00% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 296 | $55,350,000 | $186,993 | $0 | 0.00% |
For 2024, Synergy Bank's most frequently originated type of loan was Conventional, with 296 originations.
Loan Reason
For 2024, Synergy Bank's most frequently cited loan purpose was Refi, with 198 originations. The 2nd most popular reason was Home Purchase, with 91 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 296 | $55,350,000 | $186,993 | $0 | 0.00% |
For 2024, Synergy Bank's most frequently cited loan duration was Other, with 296 originations.
Loan Sizing
2024 saw Synergy Bank place emphasis on $100,000 or less loans with 136 originations, totaling $8,010,000 in origination value.
Applicant Income
Synergy Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k or less, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 296 | $55,350,000 | $186,993 | $0 | 0.00% |
Synergy Bank lent most frequently to those with DTI ratios of Exempt%, with 296 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.04%
Synergy Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.77%
Synergy Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 296 | $55,350,000 | $186,993 |