Farm Credit East Aca Mortgage Rates, Fees & Info

Enfield, CT

LEI: 549300S5NLOTO329NX77

Tax ID: 06-0800610

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Mortgage Data

Review & Overview

Farm Credit East Aca is a smaller mortgage company specializing in Home Purchase and Refi loans. Farm Credit East Aca has a high proportion of conventional loans. Their top markets by origination volume include: New York, Rochester, Providence, Philadelphia, and Albany among others. We have data for 45 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 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.

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

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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

333

Origination Dollar Volume (All Markets)

$83,505,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $11,670,000 $530,455 $8,732 4.65%
Outside of Metro Areas 36 $7,460,000 $207,222 $5,464 4.81%
ROCHESTER, NY (FHA|USDA|VA) 30 $5,450,000 $181,667 $5,639 4.26%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 10 $4,870,000 $487,000 $6,141 4.40%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 14 $4,220,000 $301,429 $6,174 4.38%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 13 $3,775,000 $290,385 $7,671 4.15%
SYRACUSE, NY (FHA|USDA|VA) 23 $3,745,000 $162,826 $5,695 4.20%
UTICA-ROME, NY (FHA|USDA|VA) 17 $3,515,000 $206,765 $6,565 4.48%
GLENS FALLS, NY (FHA|USDA|VA) 16 $3,400,000 $212,500 $5,387 4.30%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 9 $3,385,000 $376,111 $6,741 4.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 9 $3,225,000 $358,333 $5,686 4.67%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 20 $2,980,000 $149,000 $5,272 4.57%
SPRINGFIELD, MA (FHA|USDA|VA) 7 $2,335,000 $333,571 $5,126 4.18%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,635,000 $1,635,000 $35,146 4.70%
ITHACA, NY (FHA|USDA|VA) 3 $1,565,000 $521,667 $7,149 4.82%
Auburn, NY (FHA|USDA|VA) 8 $1,500,000 $187,500 $7,023 4.43%
WORCESTER, MA-CT (FHA|USDA|VA) 5 $1,315,000 $263,000 $5,494 4.37%
Oneonta, NY (FHA|USDA|VA) 10 $1,310,000 $131,000 $4,362 4.60%
Ogdensburg-Massena, NY (FHA|USDA|VA) 10 $1,290,000 $129,000 $4,798 4.33%
Hudson, NY (FHA|USDA|VA) 6 $1,280,000 $213,333 $6,222 4.83%
Corning, NY (FHA|USDA|VA) 11 $1,205,000 $109,545 $5,179 4.47%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 5 $1,175,000 $235,000 $6,432 4.18%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 6 $1,170,000 $195,000 $7,977 4.57%
Concord, NH (FHA|USDA|VA) 3 $1,095,000 $365,000 $10,511 4.33%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $1,065,000 $355,000 $8,486 4.63%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $910,000 $455,000 $8,276 4.28%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $610,000 $305,000 $4,779 4.70%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $595,000 $595,000 $3,246 4.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $585,000 $585,000 $11,057 3.80%
Olean, NY (FHA|USDA|VA) 4 $560,000 $140,000 $6,949 4.74%
KINGSTON, NY (FHA|USDA|VA) 2 $510,000 $255,000 $5,506 4.08%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $490,000 $245,000 $4,172 5.50%
Rutland, VT (FHA|USDA|VA) 2 $410,000 $205,000 $5,644 4.23%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $380,000 $190,000 $5,685 3.98%
Vineyard Haven, MA (FHA|USDA|VA) 1 $355,000 $355,000 $8,805 3.80%
Amsterdam, NY (FHA|USDA|VA) 3 $345,000 $115,000 $4,472 4.90%
Cortland, NY (FHA|USDA|VA) 2 $300,000 $150,000 $4,805 4.13%
Gloversville, NY (FHA|USDA|VA) 2 $300,000 $150,000 $3,395 4.20%
Laconia, NH (FHA|USDA|VA) 1 $255,000 $255,000 $6,491 4.35%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $255,000 $255,000 $1,084 3.90%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $6,863 4.95%
Malone, NY (FHA|USDA|VA) 3 $235,000 $78,333 $4,396 5.12%
BINGHAMTON, NY (FHA|USDA|VA) 1 $205,000 $205,000 $8,653 3.90%
Seneca Falls, NY (FHA|USDA|VA) 2 $180,000 $90,000 $5,128 3.58%
Batavia, NY (FHA|USDA|VA) 1 $135,000 $135,000 $5,037 3.65%
Farm Credit East Aca's top markets include New York, Rochester, Providence, Philadelphia, and Albany among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (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.

    SECNY Federal Credit Union
    Similarity Rank: 32
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    The Torrington Savings Bank
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    Bank of Richmondville
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    NORTHERN CREDIT UNION
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    Adirondack Bank
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    SOUTHBRIDGE CREDIT UNION
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    Schuyler Savings Bank
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    POLISH NATIONAL
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 333 $83,505,000 $250,766 $6,158 4.45%

    For 2019, Farm Credit East Aca's most frequently originated type of loan was Conventional, with 333 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 221 $53,365,000 $241,471 $6,413 4.45%
    Refi 80 $20,580,000 $257,250 $5,608 4.42%
    Home Improvement 25 $6,525,000 $261,000 $5,821 4.56%
    Other 7 $3,035,000 $433,571 $4,927 4.28%

    For 2019, Farm Credit East Aca's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 235 $63,845,000 $271,681 $6,610 4.44%
    15 Year 39 $5,735,000 $147,051 $4,261 4.17%
    20 Year 26 $5,890,000 $226,538 $5,142 4.75%
    Other 18 $5,870,000 $326,111 $7,756 4.78%
    10 Year 12 $1,780,000 $148,333 $3,108 4.19%
    30+ year 2 $360,000 $180,000 $6,096 5.10%
    5 Year 1 $25,000 $25,000 $0 4.60%

    For 2019, Farm Credit East Aca's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 74 $11,680,000 $157,838
    $5k+ 67 $25,725,000 $383,955
    $3k-4k 58 $15,250,000 $262,931
    $1k-2k 48 $10,970,000 $228,542
    $<1k 35 $6,695,000 $191,286
    $4k-5k 35 $10,655,000 $304,429

    Farm Credit East Aca's average total fees were $6,610, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 182 $45,470,000 $249,835
    3-4% 93 $23,045,000 $247,796
    5-6% 52 $13,660,000 $262,692
    6-7% 5 $1,075,000 $215,000
    7-8% 1 $255,000 $255,000

    During 2019, Farm Credit East Aca's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 182 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 124 $33,520,000 $270,323 $6,833 4.40%
    $100k-200k 113 $16,105,000 $142,522 $4,994 4.37%
    $100,000 or less 51 $3,335,000 $65,392 $3,443 4.74%
    $400k-600k 27 $13,025,000 $482,407 $8,748 4.33%
    $600k-1MM 12 $8,550,000 $712,500 $9,176 4.50%
    $1MM+ 6 $8,970,000 $1,495,000 $17,264 4.79%

    2019 saw Farm Credit East Aca place emphasis on $200k-400k loans with 124 originations, totaling $33,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 72 $16,120,000 $223,889 $5,969 4.34%
    $75k-100k 64 $13,420,000 $209,688 $5,787 4.37%
    $50k or less 61 $8,175,000 $134,016 $4,845 4.62%
    $50k-75k 49 $8,825,000 $180,102 $5,682 4.48%
    $150k-250k 40 $14,320,000 $358,000 $7,942 4.39%
    $250k+ 40 $19,650,000 $491,250 $7,469 4.34%

    Farm Credit East Aca lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $75k-100k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 88 $21,370,000 $242,841 $5,862 4.36%
    20-30% 69 $18,005,000 $260,942 $6,038 4.41%
    >60% 33 $8,205,000 $248,636 $6,047 4.47%
    <20% 30 $7,610,000 $253,667 $6,500 4.79%
    50-60% 23 $5,475,000 $238,043 $5,660 4.37%
    37% 14 $3,880,000 $277,143 $6,698 4.36%
    41% 13 $2,335,000 $179,615 $6,476 4.36%
    38% 9 $2,805,000 $311,667 $7,899 4.37%
    39% 8 $2,670,000 $333,750 $6,453 4.69%
    40% 8 $1,770,000 $221,250 $4,995 4.49%
    36% 7 $1,625,000 $232,143 $6,579 4.79%
    43% 7 $1,695,000 $242,143 $5,251 4.01%
    48% 6 $1,030,000 $171,667 $7,002 4.52%
    42% 5 $1,425,000 $285,000 $11,704 4.16%
    46% 3 $825,000 $275,000 $7,481 4.28%
    49% 3 $885,000 $295,000 $5,630 4.50%
    47% 2 $820,000 $410,000 $3,311 4.80%
    45% 2 $690,000 $345,000 $5,391 4.70%
    44% 2 $360,000 $180,000 $4,448 4.75%

    Farm Credit East Aca lent most frequently to those with DTI ratios of 30-36%, with 88 originations. The next most common DTI ratio? 20-30%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 320 $77,280,000 $241,500 $6,056 4.42%
    Not applicable 7 $2,995,000 $427,857 $8,711 5.37%
    Asian 1 $1,765,000 $1,765,000 $22,176 4.45%
    Not provided 5 $1,465,000 $293,000 $6,767 4.60%

    Approval Rates

    Total approvals of all applications
    90.02%

    Farm Credit East Aca has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.38%

    Farm Credit East Aca has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 333 $83,505,000 $250,766

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $625,000 $125,000
    Single Family (1-4 Units):Site-Built 328 $82,880,000 $252,683

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $5,340,000 $178,000 $4,917 4.57%
    40-60% 47 $13,945,000 $296,702 $6,869 4.51%
    60-80% 154 $39,610,000 $257,208 $6,533 4.38%
    80-100% 86 $21,390,000 $248,721 $5,735 4.45%
    Over 100% 3 $505,000 $168,333 $5,849 4.00%
    Under 20% 13 $2,715,000 $208,846 $4,550 4.77%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Franklin Credit Management Corporation Conventional home mortgage Struggling to pay mortgage 3 21.4%
    Franklin Credit Management Corporation Conventional home mortgage Trouble during payment process 2 14.3%
    Franklin Credit Management Corporation FHA mortgage Struggling to pay mortgage 2 14.3%
    Franklin Credit Management Corporation Other type of mortgage Struggling to pay mortgage 5 35.7%
    Franklin Credit Management Corporation Other type of mortgage Trouble during payment process 2 14.3%