Lusitania Savings Bank Mortgage Rates, Fees & Info
Newark, NJLEI: 549300SXHTIGZ7X3CS43
Tax ID: 22-3381421
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Mortgage Data
Review & Overview
Lusitania Savings Bank is a smaller bank specializing in Home Purchase loans. Lusitania Savings Bank has a high proportion of conventional loans. Their top two markets are New York and Trenton .Lusitania Savings 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
90Origination Dollar Volume (All Markets)
$50,810,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 89 | $49,725,000 | $558,708 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $1,085,000 | $1,085,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $50,810,000 | $564,556 | $0 | 0.00% |
For 2024, Lusitania Savings Bank's most frequently originated type of loan was Conventional, with 90 originations.
Loan Reason
For 2024, Lusitania Savings Bank's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Home Improvement, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 90 | $50,810,000 | $564,556 | $0 | 0.00% |
For 2024, Lusitania Savings Bank's most frequently cited loan duration was Other, with 90 originations.
Loan Sizing
2024 saw Lusitania Savings Bank place emphasis on $200k-400k loans with 25 originations, totaling $7,105,000 in origination value.
Applicant Income
Lusitania Savings Bank lent most frequently to those with incomes in the $250k+ range, with 37 originations. The second most popular income band? $150k-250k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 90 | $50,810,000 | $564,556 | $0 | 0.00% |
Lusitania Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.64%
Lusitania Savings 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 origination76.67%
Lusitania Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 90 | $50,810,000 | $564,556 |