Greater Alliance Mortgage Rates, Fees & Info

Paramus, NJ

LEI: 549300V4GRCFGZBVVZ73

Tax ID: 22-1497860

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Greater Alliance is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Greater Alliance has a high proportion of conventional loans. Their top markets by origination volume include: New York, Key West, Hilton Head Island, Poughkeepsie, and Miami among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Greater Alliance 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. Greater Alliance 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.

    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 6.23% 12/16/24
    30 Year Conventional Refi 6.00% 12/16/24
    30 Year Cash-out Refi 6.42% 12/16/24
    15 Year Conventional Refi 6.16% 12/16/24
    15 Year Cash-out Refi 6.16% 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.

    Greater Alliance Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Greater Alliance. 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

    174

    Origination Dollar Volume (All Markets)

    $25,850,000

    Awards

    GREATER ALLIANCE 30 Year Conventional Loans gold GREATER ALLIANCE 30 Year Conventional Loans gold GREATER ALLIANCE 30 Year Conventional Loans gold
    Show all (3) 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 161 $24,185,000 $150,217 $3,106 3.72%
    Key West, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,016 4.63%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $305,000 $305,000 $2,124 2.88%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $235,000 $78,333 $2,922 2.87%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $230,000 $115,000 $0 7.87%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $145,000 $145,000 $3,574 4.88%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $95,000 $95,000 $0 1.99%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $75,000 $75,000 $1,993 4.13%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $65,000 $65,000 $1,881 4.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $65,000 $65,000 $1,831 3.38%
    GLENS FALLS, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
    Greater Alliance's top markets include New York, Key West, Hilton Head Island, Poughkeepsie, and Miami among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

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

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Freehold Savings Bank
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231
    Nassau Educators Federal Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 132 $21,500,000 $162,879 $3,042 4.17%
    HELOC 42 $4,350,000 $103,571 n/a 2.40%

    For 2018, Greater Alliance's most frequently originated type of loan was Conventional, with 132 originations. Their 2nd most popular type was HELOC, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 84 $6,380,000 $75,952 $0 3.65%
    Cash Out Refi 28 $7,220,000 $257,857 $2,633 3.81%
    Home Purchase 26 $7,140,000 $274,615 $3,490 4.04%
    Refi 23 $4,075,000 $177,174 $2,528 3.53%
    Other 13 $1,035,000 $79,615 $0 3.95%

    For 2018, Greater Alliance's most frequently cited loan purpose was Home Improvement, with 84 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 75 $6,945,000 $92,600 $4,016 3.41%
    30 Year 47 $14,705,000 $312,872 $3,127 3.77%
    15 Year 25 $2,595,000 $103,800 $2,046 4.40%
    10 Year 20 $1,300,000 $65,000 $0 4.07%
    5 Year 7 $305,000 $43,571 $0 3.85%

    For 2018, Greater Alliance's most frequently cited loan duration was 20 Year, with 75 originations. The 2nd most popular length was 30 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 109 $19,745,000 $181,147

    Greater Alliance's average total fees were $3,127, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 73 $9,945,000 $136,233
    <2.5% 41 $3,755,000 $91,585
    3-4% 30 $3,430,000 $114,333
    2.5-3% 21 $7,405,000 $352,619
    5-6% 4 $900,000 $225,000
    Over 8% 4 $310,000 $77,500
    7-8% 1 $105,000 $105,000

    During 2018, Greater Alliance's average interest rate for loans was 3.77%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 90 $4,670,000 $51,889 $2,054 3.78%
    $100k-200k 46 $6,360,000 $138,261 $2,831 3.83%
    $200k-400k 27 $7,845,000 $290,556 $3,046 3.54%
    $400k-600k 6 $2,900,000 $483,333 $3,418 3.50%
    $600k-1MM 4 $2,890,000 $722,500 $3,859 3.47%
    $1MM+ 1 $1,185,000 $1,185,000 $6,525 4.50%

    2018 saw Greater Alliance place emphasis on $100,000 or less loans with 90 originations, totaling $4,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 53 $6,225,000 $117,453 $3,175 3.31%
    $150k-250k 39 $6,165,000 $158,077 $2,877 3.62%
    $50k-75k 25 $2,335,000 $93,400 $2,604 4.42%
    $50k or less 22 $2,870,000 $130,455 $2,799 4.45%
    $75k-100k 20 $2,720,000 $136,000 $2,922 3.47%
    $250k+ 15 $5,535,000 $369,000 $4,131 3.75%

    Greater Alliance lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $150k-250k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $3,205,000 $103,387 $2,612 3.65%
    30-36% 24 $1,950,000 $81,250 $2,127 3.73%
    <20% 21 $2,605,000 $124,048 $2,541 3.19%
    45% 20 $2,120,000 $106,000 $3,624 4.25%
    50-60% 13 $4,645,000 $357,308 $3,459 3.93%
    38% 9 $1,685,000 $187,222 $4,598 3.21%
    39% 8 $1,330,000 $166,250 $2,800 3.34%
    44% 8 $860,000 $107,500 $3,385 4.01%
    42% 6 $1,310,000 $218,333 $2,871 4.58%
    41% 5 $605,000 $121,000 $2,812 3.27%
    48% 5 $635,000 $127,000 $3,060 4.92%
    40% 4 $300,000 $75,000 $2,226 3.96%
    37% 4 $560,000 $140,000 $4,712 4.12%
    >60% 4 $1,480,000 $370,000 $2,671 2.88%
    43% 4 $710,000 $177,500 $3,880 2.93%
    49% 3 $1,085,000 $361,667 $3,502 3.58%
    36% 3 $255,000 $85,000 $2,309 4.62%
    47% 2 $510,000 $255,000 $4,016 4.43%

    Greater Alliance lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $17,560,000 $133,030 $3,023 3.80%
    Not provided 17 $5,195,000 $305,588 $3,155 3.88%
    Black 14 $1,480,000 $105,714 $3,148 3.61%
    Asian 6 $1,180,000 $196,667 $2,911 3.35%
    Filipino 4 $370,000 $92,500 $0 2.43%
    Korean 1 $65,000 $65,000 $1,831 3.38%

    Approval Rates

    Total approvals of all applications
    80.00%

    Greater Alliance has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    Greater Alliance has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 38 $3,330,000 $87,632
    NA 136 $22,520,000 $165,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 174 $25,850,000 $148,563

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $4,700,000 $130,556 $2,471 3.60%
    40-60% 15 $3,465,000 $231,000 $2,706 3.84%
    60-80% 22 $6,800,000 $309,091 $2,850 3.62%
    80-100% 22 $6,590,000 $299,545 $3,554 4.02%
    Under 20% 79 $4,295,000 $54,367 $1,109 3.74%