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, Gloversville, New York, and Poughkeepsie among others. We have data for 38 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
315Origination Dollar Volume (All Markets)
$88,685,000Top 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) | 188 | $68,040,000 | $361,915 | $0 | 6.23% |
| Outside of Metro Areas | 6 | $2,790,000 | $465,000 | $0 | 0.00% |
| GLENS FALLS, NY (FHA|USDA|VA) | 9 | $2,675,000 | $297,222 | $0 | 0.00% |
| Gloversville, NY (FHA|USDA|VA) | 8 | $2,480,000 | $310,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $1,615,000 | $230,714 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 11 | $1,205,000 | $109,545 | $0 | 0.00% |
| Amsterdam, NY (FHA|USDA|VA) | 6 | $1,090,000 | $181,667 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $0 | 0.00% |
| Hudson, NY (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 6 | $590,000 | $98,333 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 7 | $585,000 | $83,571 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 5 | $535,000 | $107,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $475,000 | $95,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 5 | $425,000 | $85,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $405,000 | $81,000 | $0 | 0.00% |
| Malone, NY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 6 | $340,000 | $56,667 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 308 | $81,140,000 | $263,442 | $0 | 0.00% |
| Conventional | 7 | $7,545,000 | $1,077,857 | $0 | 6.23% |
For 2023, Ballston Spa National Bank's most frequently originated type of loan was Conventional, with 308 originations. Their 2nd most popular type was Conventional, with 7 originations.
Loan Reason
For 2023, Ballston Spa National Bank's most frequently cited loan purpose was Home Purchase, with 243 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 309 | $85,895,000 | $277,977 | $0 | 3.75% |
| 10 Year | 6 | $2,790,000 | $465,000 | $0 | 6.64% |
For 2023, Ballston Spa National Bank's most frequently cited loan duration was Other, with 309 originations. The 2nd most popular length was 10 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 3 | $1,445,000 | $481,667 |
| 7-8% | 2 | $650,000 | $325,000 |
| 3-4% | 1 | $4,755,000 | $4,755,000 |
| 5-6% | 1 | $695,000 | $695,000 |
During 2023, Ballston Spa National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 3 originations.
Loan Sizing
2023 saw Ballston Spa National Bank place emphasis on $200k-400k loans with 91 originations, totaling $25,605,000 in origination value.
Applicant Income
Ballston Spa National Bank lent most frequently to those with incomes in the $100k-150k range, with 73 originations. The second most popular income band? $150k-250k, with 66 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 308 | $81,140,000 | $263,442 | $0 | 0.00% |
Ballston Spa National Bank lent most frequently to those with DTI ratios of Exempt%, with 308 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.76%
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 origination48.57%
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 | 308 | $81,140,000 | $263,442 |
| NA | 7 | $7,545,000 | $1,077,857 |