Bank Of Richmondville Mortgage Rates, Fees & Info

Cobleskill, NY

LEI: 549300SPVF3S3T0BYL87

Tax ID: 14-0486900

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi and 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 4 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 a below 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 6.25% 12/16/24
    30 Year Conventional Refi 6.26% 12/16/24
    15 Year Conventional Purchase 5.70% 12/16/24
    15 Year Conventional Refi 5.95% 12/16/24
    15 Year Cash-out Refi 5.95% 12/16/24
    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.

    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

    59

    Origination Dollar Volume (All Markets)

    $7,645,000

    Awards

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

    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) 48 $6,220,000 $129,583 $2,171 4.25%
    Oneonta, NY (FHA|USDA|VA) 7 $885,000 $126,429 $1,240 3.79%
    Amsterdam, NY (FHA|USDA|VA) 3 $285,000 $95,000 $4,725 4.92%
    Gloversville, NY (FHA|USDA|VA) 1 $255,000 $255,000 $1,167 3.50%
    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.

    Bank of Richmondville
    Similarity Rank: 24
    Saratoga National Bank and Trust Company
    Similarity Rank: 72
    HUDSON RIVER COMMUNITY
    Similarity Rank: 104
    Glens Falls National Bank and Trust Company
    Similarity Rank: 306
    TrustCo Bank
    Similarity Rank: 308
    FIRST NEW YORK
    Similarity Rank: 360
    CCFCU FUNDING, LLC
    Similarity Rank: 504
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 544
    Berkshire Bank
    Similarity Rank: 752
    SEFCU SERVICES, LLC
    Similarity Rank: 832

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $7,645,000 $129,576 $2,122 4.22%

    For 2022, Bank Of Richmondville's most frequently originated type of loan was Conventional, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 26 $3,080,000 $118,462 $1,481 3.70%
    Home Purchase 23 $4,225,000 $183,696 $2,894 4.35%
    Home Improvement 8 $280,000 $35,000 $40 5.34%
    Other 2 $60,000 $30,000 $40 4.88%

    For 2022, Bank Of Richmondville's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $2,740,000 $152,222 $1,405 4.05%
    15 Year 12 $1,190,000 $99,167 $1,272 4.16%
    10 Year 9 $635,000 $70,556 $1,285 4.32%
    30+ year 7 $2,065,000 $295,000 $5,424 4.41%
    5 Year 6 $140,000 $23,333 $735 4.83%
    20 Year 5 $545,000 $109,000 $1,753 4.20%
    Other 2 $330,000 $165,000 $4,032 3.19%

    For 2022, Bank Of Richmondville's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 32 $4,280,000 $133,750
    $2k-3k 4 $990,000 $247,500
    $1k-2k 3 $265,000 $88,333
    $3k-4k 1 $335,000 $335,000
    $4k-5k 1 $425,000 $425,000
    $5k+ 1 $485,000 $485,000

    Bank Of Richmondville's average total fees were $1,405, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 32 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 23 $3,185,000 $138,478
    4-5% 17 $2,305,000 $135,588
    5-6% 11 $905,000 $82,273
    2.5-3% 6 $1,040,000 $173,333
    6-7% 2 $210,000 $105,000

    During 2022, Bank Of Richmondville's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 3-4%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,530,000 $51,000 $1,532 4.38%
    $100k-200k 15 $1,965,000 $131,000 $1,393 4.08%
    $200k-400k 12 $3,240,000 $270,000 $3,106 4.01%
    $400k-600k 2 $910,000 $455,000 $6,821 4.19%

    2022 saw Bank Of Richmondville place emphasis on $100,000 or less loans with 30 originations, totaling $1,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 12 $1,090,000 $90,833 $1,612 4.44%
    $100k-150k 11 $1,605,000 $145,909 $2,267 4.14%
    $50k-75k 11 $655,000 $59,545 $1,332 4.59%
    $150k-250k 10 $2,280,000 $228,000 $3,614 4.09%
    $50k or less 10 $930,000 $93,000 $1,822 3.80%
    $250k+ 3 $675,000 $225,000 $1,429 4.33%

    Bank Of Richmondville lent most frequently to those with incomes in the $75k-100k range, with 12 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $3,470,000 $144,583 $2,419 3.88%
    30-36% 10 $1,330,000 $133,000 $2,337 4.48%
    <20% 9 $1,135,000 $126,111 $1,298 4.01%
    37% 5 $335,000 $67,000 $4,725 5.00%
    38% 5 $695,000 $139,000 $1,163 4.85%
    36% 2 $120,000 $60,000 $1,419 5.25%
    50-60% 1 $245,000 $245,000 $4,731 3.00%
    39% 1 $55,000 $55,000 $0 4.50%
    41% 1 $135,000 $135,000 $1,404 3.50%

    Bank Of Richmondville lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $7,520,000 $129,655 $2,122 4.22%
    Not applicable 1 $125,000 $125,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    86.67%

    Bank Of Richmondville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.83%

    Bank Of Richmondville has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 59 $7,645,000 $129,576

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    59 $7,645,000 $129,576

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $500,000 $62,500 $1,587 4.30%
    40-60% 15 $1,505,000 $100,333 $1,657 3.92%
    60-80% 17 $2,935,000 $172,647 $1,811 3.82%
    80-100% 9 $2,425,000 $269,444 $3,728 4.43%
    Under 20% 10 $280,000 $28,000 $1,431 5.10%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%