Ballston Spa National Bank Mortgage Rates, Fees & Info
Ballston Spa, NYLEI: 549300QY4UCP33T94N09
Tax ID: 14-0486153
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Mortgage Data
Review & Overview
Ballston Spa National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Ballston Spa National Bank has a high proportion of conventional loans. Ballston Spa National Bank has an average proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, New York, Allentown, and Philadelphia among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)Ballston Spa National 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
310Origination Dollar Volume (All Markets)
$76,370,000Top 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 |
|---|---|---|---|---|---|
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 147 | $57,125,000 | $388,605 | $0 | 7.15% |
| Outside of Metro Areas | 21 | $2,185,000 | $104,048 | $0 | 0.00% |
| GLENS FALLS, NY (FHA|USDA|VA) | 7 | $2,085,000 | $297,857 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 10 | $1,600,000 | $160,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 16 | $1,440,000 | $90,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 13 | $1,335,000 | $102,692 | $0 | 0.00% |
| Gloversville, NY (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $0 | 7.25% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 10 | $1,040,000 | $104,000 | $0 | 0.00% |
| Hudson, NY (FHA|USDA|VA) | 9 | $975,000 | $108,333 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 5 | $475,000 | $95,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 5 | $435,000 | $87,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 6 | $380,000 | $63,333 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 4 | $210,000 | $52,500 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Batavia, NY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 302 | $55,050,000 | $182,285 | $0 | 0.00% |
| Conventional | 8 | $21,320,000 | $2,665,000 | $0 | 7.20% |
For 2024, Ballston Spa National Bank's most frequently originated type of loan was Conventional, with 302 originations. Their 2nd most popular type was Conventional, with 8 originations.
Loan Reason
For 2024, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 304 | $62,150,000 | $204,441 | $0 | 7.15% |
| 10 Year | 5 | $13,675,000 | $2,735,000 | $0 | 7.25% |
| 5 Year | 1 | $545,000 | $545,000 | $0 | 0.00% |
For 2024, Ballston Spa National Bank's most frequently cited loan duration was Other, with 304 originations. The 2nd most popular length was 10 Year, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 2 | $310,000 | $155,000 |
During 2024, Ballston Spa National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 2 originations.
Loan Sizing
2024 saw Ballston Spa National Bank place emphasis on $100,000 or less loans with 119 originations, totaling $7,535,000 in origination value.
Applicant Income
Ballston Spa National Bank lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $150k-250k, with 65 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 302 | $55,050,000 | $182,285 | $0 | 0.00% |
Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 302 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.22%
Ballston Spa National 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 origination45.81%
Ballston Spa National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 302 | $55,050,000 | $182,285 |
| NA | 8 | $21,320,000 | $2,665,000 |