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 Refi and Cash Out Refi loans. Greater Alliance has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Allentown, Fayetteville, and Orlando among others. We have data for 10 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

    199

    Origination Dollar Volume (All Markets)

    $46,785,000

    Awards

    GREATER ALLIANCE 30 Year Conventional Loans gold
    Show all (1) 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) 186 $43,330,000 $232,957 $2,292 3.22%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $840,000 $420,000 $3,225 3.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $605,000 $605,000 $5,073 3.50%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $355,000 $355,000 $2,027 3.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $350,000 $175,000 $2,822 3.31%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $285,000 $285,000 $2,946 2.13%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $275,000 $275,000 $0 4.49%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,473 2.88%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $240,000 $120,000 $2,517 3.69%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $230,000 $115,000 $2,019 2.75%
    Greater Alliance's top markets include New York, Miami, Allentown, Fayetteville, and Orlando among others.

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

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    Poli Mortgage Group, Inc.
    Similarity Rank: 1012
    Schuyler Savings Bank
    Similarity Rank: 1083

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $39,570,000 $256,948 $2,319 3.17%
    HELOC 45 $7,215,000 $160,333 n/a 3.37%

    For 2020, Greater Alliance's most frequently originated type of loan was Conventional, with 154 originations. Their 2nd most popular type was HELOC, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 66 $19,280,000 $292,121 $2,448 2.87%
    Home Improvement 59 $7,865,000 $133,305 $0 3.69%
    Cash Out Refi 44 $12,140,000 $275,909 $2,450 3.02%
    Home Purchase 25 $7,135,000 $285,400 $3,999 3.15%
    Other 5 $365,000 $73,000 $0 4.44%

    For 2020, Greater Alliance's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Home Improvement, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 73 $13,225,000 $181,164 $1,861 3.37%
    30 Year 68 $21,650,000 $318,382 $3,038 3.12%
    15 Year 34 $8,480,000 $249,412 $2,311 2.76%
    10 Year 17 $3,025,000 $177,941 $1,166 3.43%
    5 Year 7 $405,000 $57,857 $0 4.31%

    For 2020, Greater Alliance's most frequently cited loan duration was 20 Year, with 73 originations. The 2nd most popular length was 30 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 154 $39,570,000 $256,948

    Greater Alliance's average total fees were $3,038, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 91 $21,745,000 $238,956
    3-4% 47 $12,755,000 $271,383
    4-5% 29 $3,645,000 $125,690
    <2.5% 28 $8,340,000 $297,857
    5-6% 4 $300,000 $75,000

    During 2020, Greater Alliance's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 89 $25,405,000 $285,449 $2,623 3.00%
    $100,000 or less 49 $3,065,000 $62,551 $697 3.69%
    $100k-200k 35 $5,035,000 $143,857 $1,971 3.39%
    $400k-600k 21 $9,295,000 $442,619 $3,336 2.76%
    $600k-1MM 4 $2,780,000 $695,000 $4,176 3.22%
    $1MM+ 1 $1,205,000 $1,205,000 $0 2.99%

    2020 saw Greater Alliance place emphasis on $200k-400k loans with 89 originations, totaling $25,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 57 $17,315,000 $303,772 $2,575 3.07%
    $100k-150k 55 $12,115,000 $220,273 $2,216 3.30%
    $75k-100k 33 $7,035,000 $213,182 $2,301 3.15%
    $50k-75k 26 $4,410,000 $169,615 $2,057 3.46%
    $250k+ 15 $4,405,000 $293,667 $2,402 3.03%
    $50k or less 12 $1,240,000 $103,333 $2,146 3.52%

    Greater Alliance lent most frequently to those with incomes in the $150k-250k range, with 57 originations. The second most popular income band? $100k-150k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 65 $10,435,000 $160,538 $1,107 3.54%
    30-36% 36 $9,820,000 $272,778 $2,682 3.11%
    20-30% 32 $7,730,000 $241,563 $2,427 2.91%
    38% 8 $1,320,000 $165,000 $2,201 3.14%
    46% 6 $1,690,000 $281,667 $2,762 3.15%
    37% 6 $1,280,000 $213,333 $2,190 3.08%
    42% 5 $1,445,000 $289,000 $2,720 3.08%
    41% 5 $1,525,000 $305,000 $2,759 3.02%
    45% 5 $1,535,000 $307,000 $3,282 3.50%
    47% 5 $1,595,000 $319,000 $2,499 3.33%
    43% 4 $890,000 $222,500 $3,013 2.81%
    49% 4 $1,580,000 $395,000 $3,491 3.16%
    50-60% 4 $1,690,000 $422,500 $2,756 3.13%
    40% 4 $1,170,000 $292,500 $2,518 3.00%
    48% 3 $895,000 $298,333 $3,013 2.88%
    39% 3 $895,000 $298,333 $2,491 2.92%
    44% 2 $580,000 $290,000 $2,405 3.00%
    36% 2 $710,000 $355,000 $2,543 3.19%

    Greater Alliance lent most frequently to those with DTI ratios of <20%, with 65 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 123 $25,895,000 $210,528 $1,943 3.32%
    Not provided 29 $7,505,000 $258,793 $2,697 3.15%
    Asian 20 $6,840,000 $342,000 $2,926 2.91%
    Black 17 $3,695,000 $217,353 $2,755 3.04%
    American Indian 3 $1,465,000 $488,333 $3,111 2.71%
    Native Hawaiian or Islander 6 $1,300,000 $216,667 $2,933 3.19%
    Filipino 1 $85,000 $85,000 $0 4.24%

    Approval Rates

    Total approvals of all applications
    86.44%

    Greater Alliance has an average approval rate.

    Pick Rate

    Approvals leading to origination
    52.26%

    Greater Alliance has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 25 $4,015,000 $160,600
    NA 174 $42,770,000 $245,805

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 199 $46,785,000 $235,101

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $4,865,000 $139,000 $1,543 3.53%
    40-60% 45 $13,025,000 $289,444 $2,367 2.85%
    60-80% 64 $20,390,000 $318,594 $2,784 3.05%
    80-100% 19 $6,315,000 $332,368 $3,670 3.14%
    Under 20% 36 $2,190,000 $60,833 $182 3.72%