Usny Bank Mortgage Rates, Fees & Info
Geneva, NYLEI: 549300QWZP1DM0Q04B39
Tax ID: 26-0432177
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Mortgage Data
Review & Overview
Usny Bank is a smaller bank specializing in Home Purchase loans. Usny Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oneonta, Rochester, Seneca Falls, Utica, and Corning among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Usny 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. Usny Bank 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.
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Originations
127Origination Dollar Volume (All Markets)
$26,115,000Awards
USNY Bank - 2018
USNY Bank is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Oneonta, NY (FHA|USDA|VA) | 58 | $10,950,000 | $188,793 | $4,045 | 5.10% |
| ROCHESTER, NY (FHA|USDA|VA) | 36 | $10,830,000 | $300,833 | $3,576 | 5.02% |
| Seneca Falls, NY (FHA|USDA|VA) | 14 | $1,690,000 | $120,714 | $3,846 | 5.23% |
| Outside of Metro Areas | 11 | $1,445,000 | $131,364 | $3,849 | 5.13% |
| UTICA-ROME, NY (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $3,106 | 5.18% |
| Corning, NY (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,158 | 5.25% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,693 | 5.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,861 | 4.25% |
| Auburn, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,854 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against USNY Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 127 | $26,115,000 | $205,630 | $3,868 | 5.09% |
For 2018, Usny Bank's most frequently originated type of loan was Conventional, with 127 originations.
Loan Reason
For 2018, Usny Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
For 2018, Usny Bank's most frequently cited loan duration was 30 Year, with 50 originations. The 2nd most popular length was 15 Year, with 23 originations.
Origination Fees/Closing Costs
Usny Bank's average total fees were $3,718, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 61 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 63 | $12,565,000 | $199,444 |
| 5-6% | 51 | $11,995,000 | $235,196 |
| 3-4% | 6 | $1,170,000 | $195,000 |
| 6-7% | 6 | $340,000 | $56,667 |
| 7-8% | 1 | $45,000 | $45,000 |
During 2018, Usny Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 63 originations.
Loan Sizing
2018 saw Usny Bank place emphasis on $100k-200k loans with 44 originations, totaling $6,210,000 in origination value.
Applicant Income
Usny Bank lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 25 originations.
Applicant Debt to Income Ratio
Usny Bank lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 17 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.59%
Usny Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.64%
Usny Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 127 | $26,115,000 | $205,630 |