Synergy Bank Mortgage Rates, Fees & Info
Houma, LALEI: 549300QAJ2SD5X8T7X10
Tax ID: 72-1433422
Latest/2023 | 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, New Orleans, Ocala, Morgan City, and Hattiesburg among others. We have data for 12 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 an above average pick rate when compared to similar lenders.
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Originations
317Origination Dollar Volume (All Markets)
$46,985,000Top 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) | 281 | $34,655,000 | $123,327 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 4 | $2,190,000 | $547,500 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $2,175,000 | $2,175,000 | $0 | 0.00% |
| Morgan City, LA (FHA|USDA|VA) | 9 | $1,965,000 | $218,333 | $0 | 0.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 2 | $1,820,000 | $910,000 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 11 | $1,515,000 | $137,727 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $325,000 | $325,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| MONROE, LA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 317 | $46,985,000 | $148,218 | $0 | 0.00% |
For 2022, Synergy Bank's most frequently originated type of loan was Conventional, with 317 originations.
Loan Reason
For 2022, Synergy Bank's most frequently cited loan purpose was Refi, with 178 originations. The 2nd most popular reason was Home Purchase, with 117 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 317 | $46,985,000 | $148,218 | $0 | 0.00% |
For 2022, Synergy Bank's most frequently cited loan duration was Other, with 317 originations.
Loan Sizing
2022 saw Synergy Bank place emphasis on $100,000 or less loans with 168 originations, totaling $9,350,000 in origination value.
Applicant Income
Synergy Bank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 317 | $46,985,000 | $148,218 | $0 | 0.00% |
Synergy Bank lent most frequently to those with DTI ratios of Exempt%, with 317 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.29%
Synergy Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.54%
Synergy Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 317 | $46,985,000 | $148,218 |