Bank Of Richmondville Mortgage Rates, Fees & Info

Cobleskill, NY

LEI: 549300SPVF3S3T0BYL87

Tax ID: 14-0486900

5 stars - Updated: 4/18/25 - out of 5 stars, based on 7 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bank Of Richmondville is a smaller bank specializing in Home Purchase loans. Bank Of Richmondville has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Oneonta, Amsterdam, and Gloversville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Richmondville has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Bank Of Richmondville 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.

    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 6.02% 4/18/25
    30 Year Conventional Refi 6.23% 4/18/25
    15 Year Conventional Purchase 6.51% 4/18/25
    15 Year Conventional Refi 6.42% 4/18/25
    15 Year Cash-out Refi 6.42% 4/18/25
    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.

    Bank Of Richmondville Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank Of Richmondville. 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

    54

    Origination Dollar Volume (All Markets)

    $6,660,000

    Awards

    Bank of Richmondville 30 Year Conventional Loans gold Bank of Richmondville 30 Year Conventional Loans gold Bank of Richmondville 30 Year Conventional Loans silver Bank of Richmondville 30 Year Conventional Loans silver
    Show all (4) awards

    Relative Rate

    Bank Of Richmondville's average 30 year fixed mortgage rate was 6.34%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.21%.

    Relative Fees (Closing Costs)

    Bank Of Richmondville's average total fees/closing costs for a 30 year fixed rate mortgage were $1,754.

    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 $8,356.

    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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 46 $5,570,000 $121,087 $2,239 6.67%
    Oneonta, NY (FHA|USDA|VA) 5 $645,000 $129,000 $2,825 6.38%
    Amsterdam, NY (FHA|USDA|VA) 1 $255,000 $255,000 $5,272 6.13%
    Gloversville, NY (FHA|USDA|VA) 1 $115,000 $115,000 $1,727 6.38%
    Outside of Metro Areas 1 $75,000 $75,000 $0 7.50%
    Bank Of Richmondville's top markets include Albany, Oneonta, Amsterdam, and Gloversville among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

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

    FIRST NEW YORK
    Similarity Rank: 48
    Bank of Richmondville
    Similarity Rank: 50
    Saratoga National Bank and Trust Company
    Similarity Rank: 120
    Glens Falls National Bank and Trust Company
    Similarity Rank: 200
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 336
    TrustCo Bank
    Similarity Rank: 435
    Berkshire Bank
    Similarity Rank: 574
    HUDSON VALLEY CREDIT UNION
    Similarity Rank: 612
    SEFCU SERVICES, LLC
    Similarity Rank: 675
    Chemung Canal Trust Company
    Similarity Rank: 946

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $6,660,000 $123,333 $2,397 6.64%

    For 2024, Bank Of Richmondville's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 28 $4,850,000 $173,214 $2,689 6.38%
    Home Improvement 12 $690,000 $57,500 $1,502 7.22%
    Other 7 $545,000 $77,857 $1,253 6.63%
    Refi 7 $575,000 $82,143 $1,739 6.75%

    For 2024, Bank Of Richmondville's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20 $3,140,000 $157,000 $1,754 6.34%
    15 Year 18 $1,360,000 $75,556 $1,622 6.97%
    10 Year 6 $430,000 $71,667 $0 7.25%
    30+ year 5 $1,465,000 $293,000 $5,712 6.20%
    5 Year 3 $65,000 $21,667 $40 6.75%
    20 Year 1 $115,000 $115,000 $0 5.75%
    Other 1 $85,000 $85,000 $1,583 6.13%

    For 2024, Bank Of Richmondville's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 15 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $3,355,000 $159,762
    $2k-3k 2 $500,000 $250,000
    $1k-2k 1 $165,000 $165,000
    $3k-4k 1 $295,000 $295,000
    $5k+ 1 $505,000 $505,000

    Bank Of Richmondville's average total fees were $1,754, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 24 $3,360,000 $140,000
    7-8% 17 $1,135,000 $66,765
    5-6% 13 $2,165,000 $166,538

    During 2024, Bank Of Richmondville's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,710,000 $57,000 $1,414 6.84%
    $100k-200k 13 $1,735,000 $133,462 $2,075 6.50%
    $200k-400k 10 $2,710,000 $271,000 $2,900 6.31%
    $400k-600k 1 $505,000 $505,000 $7,812 6.00%

    2024 saw Bank Of Richmondville place emphasis on $100,000 or less loans with 30 originations, totaling $1,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $1,300,000 $92,857 $1,654 6.52%
    $100k-150k 13 $1,415,000 $108,846 $2,309 6.82%
    $75k-100k 10 $1,410,000 $141,000 $2,926 6.59%
    $150k-250k 8 $1,670,000 $208,750 $4,295 6.30%
    $50k or less 8 $500,000 $62,500 $1,126 6.98%
    $250k+ 1 $365,000 $365,000 $1,837 6.75%

    Bank Of Richmondville lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 18 $2,110,000 $117,222 $2,924 6.47%
    30-36% 16 $1,650,000 $103,125 $1,523 6.96%
    <20% 7 $1,135,000 $162,143 $2,294 6.30%
    36% 6 $780,000 $130,000 $2,612 6.73%
    37% 3 $445,000 $148,333 $3,469 6.79%
    38% 3 $435,000 $145,000 $1,827 6.17%
    39% 1 $105,000 $105,000 $0 7.50%

    Bank Of Richmondville lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 54 $6,660,000 $123,333 $2,397 6.64%

    Approval Rates

    Total approvals of all applications
    89.39%

    Bank Of Richmondville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.74%

    Bank Of Richmondville has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $6,660,000 $123,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $6,660,000 $123,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $710,000 $71,000 $889 7.18%
    40-60% 6 $750,000 $125,000 $1,730 6.88%
    60-80% 20 $3,030,000 $151,500 $2,834 6.07%
    80-100% 7 $1,745,000 $249,286 $2,355 6.45%
    Under 20% 11 $425,000 $38,636 $1,599 7.20%