Farm Credit East Aca Mortgage Rates, Fees & Info

Enfield, CT

LEI: 549300S5NLOTO329NX77

Tax ID: 06-0800610

5 stars - Updated: 3/28/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Farm Credit East Aca is a smaller mortgage company specializing in Home Purchase loans. Farm Credit East Aca has a high proportion of conventional loans. Their top markets by origination volume include: New York, Rochester, Jamestown, Philadelphia, and Syracuse among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farm Credit East Aca 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. Farm Credit East Aca is typically an average 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.81% 3/28/24
30 Year Conventional Refi 6.86% 3/28/24
30 Year Cash-out Refi 6.67% 3/28/24
30 Year USDA Refi 6.87% 3/28/24
15 Year Conventional Purchase 6.94% 3/28/24
15 Year Conventional Refi 6.67% 3/28/24
15 Year Cash-out Refi 6.67% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Farm Credit East Aca Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Farm Credit East Aca. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

491

Origination Dollar Volume (All Markets)

$145,995,000

Relative Rate

Farm Credit East Aca's average 30 year fixed mortgage rate was 7.41%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.93%.

Relative Fees (Closing Costs)

Farm Credit East Aca's average total fees/closing costs for a 30 year fixed rate mortgage were $6,210.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Outside of Metro Areas 57 $15,205,000 $266,754 $5,516 7.43%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 24 $13,310,000 $554,583 $8,463 7.24%
ROCHESTER, NY (FHA|USDA|VA) 37 $9,975,000 $269,595 $5,775 7.04%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 36 $8,600,000 $238,889 $6,362 7.26%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 19 $7,645,000 $402,368 $8,616 7.37%
SYRACUSE, NY (FHA|USDA|VA) 28 $7,360,000 $262,857 $5,684 7.33%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 18 $6,100,000 $338,889 $6,080 7.43%
UTICA-ROME, NY (FHA|USDA|VA) 26 $5,410,000 $208,077 $5,762 7.50%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $4,865,000 $540,556 $7,603 7.25%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 12 $4,750,000 $395,833 $6,058 7.15%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 8 $3,730,000 $466,250 $8,889 7.39%
GLENS FALLS, NY (FHA|USDA|VA) 14 $3,300,000 $235,714 $4,528 7.43%
Oneonta, NY (FHA|USDA|VA) 15 $3,095,000 $206,333 $5,314 7.57%
Amsterdam, NY (FHA|USDA|VA) 16 $3,060,000 $191,250 $3,939 7.29%
Hudson, NY (FHA|USDA|VA) 4 $3,040,000 $760,000 $9,391 8.04%
Auburn, NY (FHA|USDA|VA) 13 $3,005,000 $231,154 $5,256 7.34%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $2,545,000 $848,333 $9,394 7.10%
SPRINGFIELD, MA (FHA|USDA|VA) 4 $2,490,000 $622,500 $8,658 7.85%
Olean, NY (FHA|USDA|VA) 11 $2,315,000 $210,455 $6,024 7.32%
Seneca Falls, NY (FHA|USDA|VA) 11 $2,275,000 $206,818 $4,702 7.29%
Torrington, CT (FHA|USDA|VA) 2 $2,270,000 $1,135,000 $0 7.40%
Corning, NY (FHA|USDA|VA) 12 $2,250,000 $187,500 $4,260 6.98%
Batavia, NY (FHA|USDA|VA) 6 $1,980,000 $330,000 $9,449 7.50%
Ogdensburg-Massena, NY (FHA|USDA|VA) 12 $1,930,000 $160,833 $4,301 7.26%
WORCESTER, MA-CT (FHA|USDA|VA) 12 $1,800,000 $150,000 $2,431 7.18%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 6 $1,750,000 $291,667 $4,840 7.36%
Bennington, VT (FHA|USDA|VA) 2 $1,510,000 $755,000 $11,340 7.75%
Lebanon, NH-VT (FHA|USDA|VA) 7 $1,485,000 $212,143 $4,794 7.42%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 7 $1,385,000 $197,857 $5,975 7.82%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 5 $1,315,000 $263,000 $3,603 7.75%
Malone, NY (FHA|USDA|VA) 5 $1,255,000 $251,000 $5,902 7.49%
Cortland, NY (FHA|USDA|VA) 6 $1,220,000 $203,333 $4,760 7.51%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $1,065,000 $355,000 $6,960 6.42%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $1,035,000 $345,000 $4,715 7.40%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $995,000 $331,667 $5,202 7.68%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $975,000 $975,000 $7,040 6.45%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $855,000 $855,000 $7,830 7.05%
Barre, VT (FHA|USDA|VA) 2 $830,000 $415,000 $7,055 8.00%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $785,000 $785,000 $5,979 7.60%
ITHACA, NY (FHA|USDA|VA) 3 $765,000 $255,000 $4,075 7.60%
BINGHAMTON, NY (FHA|USDA|VA) 4 $740,000 $185,000 $4,146 7.33%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $735,000 $245,000 $6,764 7.82%
Concord, NH (FHA|USDA|VA) 4 $710,000 $177,500 $4,164 7.90%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $675,000 $675,000 $6,075 6.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $580,000 $290,000 $5,538 7.00%
Plattsburgh, NY (FHA|USDA|VA) 2 $520,000 $260,000 $6,177 7.55%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 2 $430,000 $215,000 $4,132 7.60%
Gloversville, NY (FHA|USDA|VA) 1 $425,000 $425,000 $7,787 8.75%
PITTSFIELD, MA (FHA|USDA|VA) 1 $405,000 $405,000 $7,278 7.75%
Rutland, VT (FHA|USDA|VA) 3 $275,000 $91,667 $6,505 8.25%
ERIE, PA (FHA|USDA|VA) 1 $265,000 $265,000 $4,495 6.85%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $255,000 $255,000 $5,025 7.25%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.80%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $195,000 $195,000 $5,204 6.85%
Farm Credit East Aca's top markets include New York, Rochester, Jamestown, Philadelphia, and Syracuse among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Farm Credit East ACA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    Bank of Richmondville
    Similarity Rank: 32
    Pittsford Federal Credit Union
    Similarity Rank: 34
    SECNY Federal Credit Union
    Similarity Rank: 36
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    The Torrington Savings Bank
    Similarity Rank: 45
    Charter Oak Federal Credit Union
    Similarity Rank: 56

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 489 $145,465,000 $297,474 $5,866 7.36%
    HELOC 2 $530,000 $265,000 n/a 7.88%

    For 2023, Farm Credit East Aca's most frequently originated type of loan was Conventional, with 489 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 364 $115,070,000 $316,126 $6,276 7.46%
    Refi 69 $18,205,000 $263,841 $4,951 6.97%
    Home Improvement 37 $7,915,000 $213,919 $4,364 7.28%
    Other 21 $4,805,000 $228,810 $4,348 6.99%

    For 2023, Farm Credit East Aca's most frequently cited loan purpose was Home Purchase, with 364 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 411 $132,485,000 $322,348 $6,210 7.41%
    15 Year 30 $4,010,000 $133,667 $3,762 7.15%
    20 Year 23 $5,305,000 $230,652 $4,874 7.25%
    10 Year 20 $2,430,000 $121,500 $2,735 6.79%
    Other 6 $1,740,000 $290,000 $4,417 7.14%
    1 Year 1 $25,000 $25,000 $0 8.25%

    For 2023, Farm Credit East Aca's most frequently cited loan duration was 30 Year, with 411 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 140 $29,800,000 $212,857
    $2k-3k 75 $17,585,000 $234,467
    $3k-4k 72 $22,850,000 $317,361
    $<1k 56 $13,090,000 $233,750
    $5k+ 54 $27,310,000 $505,741
    $4k-5k 36 $15,500,000 $430,556

    Farm Credit East Aca's average total fees were $6,210, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 140 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 219 $66,395,000 $303,174
    6-7% 171 $44,925,000 $262,719
    Over 8% 94 $32,860,000 $349,574
    5-6% 7 $1,815,000 $259,286

    During 2023, Farm Credit East Aca's average interest rate for loans was 7.41%, while their most frequently originated rate bucket for loans was 7-8%, with 219 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 184 $51,050,000 $277,446 $5,871 7.42%
    $100k-200k 143 $20,785,000 $145,350 $4,438 7.18%
    $400k-600k 67 $31,535,000 $470,672 $7,809 7.49%
    $100,000 or less 53 $3,615,000 $68,208 $2,979 7.28%
    $600k-1MM 30 $22,370,000 $745,667 $11,022 7.64%
    $1MM+ 14 $16,640,000 $1,188,571 $12,547 7.40%

    2023 saw Farm Credit East Aca place emphasis on $200k-400k loans with 184 originations, totaling $51,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 114 $30,930,000 $271,316 $5,850 7.37%
    $150k-250k 103 $36,935,000 $358,592 $6,743 7.47%
    $50k-75k 82 $14,810,000 $180,610 $4,974 7.35%
    $75k-100k 75 $15,655,000 $208,733 $5,139 7.37%
    $250k+ 55 $30,075,000 $546,818 $7,509 7.27%
    $50k or less 49 $9,485,000 $193,571 $4,460 7.21%

    Farm Credit East Aca lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $150k-250k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $18,260,000 $234,103 $5,074 7.14%
    30-36% 65 $17,365,000 $267,154 $5,661 7.43%
    50-60% 51 $17,325,000 $339,706 $6,662 7.57%
    >60% 33 $10,025,000 $303,788 $6,054 7.36%
    36% 26 $8,090,000 $311,154 $5,837 7.27%
    <20% 22 $7,390,000 $335,909 $4,092 7.26%
    40% 21 $7,245,000 $345,000 $7,174 7.07%
    41% 20 $5,150,000 $257,500 $5,517 7.51%
    39% 17 $5,745,000 $337,941 $5,696 7.31%
    45% 17 $4,985,000 $293,235 $6,478 7.39%
    38% 17 $5,295,000 $311,471 $4,891 7.26%
    42% 16 $5,610,000 $350,625 $7,410 7.28%
    47% 15 $3,755,000 $250,333 $5,433 7.40%
    37% 13 $3,915,000 $301,154 $6,865 7.53%
    48% 12 $3,660,000 $305,000 $6,945 7.85%
    43% 11 $3,685,000 $335,000 $6,595 7.36%
    49% 7 $1,705,000 $243,571 $5,951 7.94%
    46% 7 $3,075,000 $439,286 $7,654 7.61%
    44% 6 $2,140,000 $356,667 $6,025 7.40%

    Farm Credit East Aca lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 419 $120,955,000 $288,675 $5,900 7.35%
    Not provided 57 $16,475,000 $289,035 $5,101 7.38%
    Not applicable 10 $6,850,000 $685,000 $9,579 7.31%
    Black 2 $1,030,000 $515,000 $8,909 7.88%
    Asian 2 $390,000 $195,000 $4,813 7.45%
    American Indian 1 $295,000 $295,000 $7,368 6.50%

    Approval Rates

    Total approvals of all applications
    96.08%

    Farm Credit East Aca has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.54%

    Farm Credit East Aca has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 491 $145,995,000 $297,342

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    491 $145,995,000 $297,342

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $13,560,000 $242,143 $5,200 7.23%
    40-60% 66 $19,500,000 $295,455 $5,903 7.47%
    60-80% 214 $68,150,000 $318,458 $6,245 7.40%
    80-100% 125 $40,125,000 $321,000 $5,801 7.33%
    Over 100% 2 $540,000 $270,000 $8,593 7.53%
    Under 20% 27 $3,875,000 $143,519 $3,793 7.13%