Essa Bank & Trust Mortgage Rates, Fees & Info

Stroudsburg, PA

LEI: 549300W5E3L00UZ6F777

Tax ID: 24-0568185

5 stars - Updated: 7/13/25 - out of 5 stars, based on 25 reviews

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

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  • 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

    Essa Bank & Trust is a smaller bank specializing in Home Purchase loans. Essa Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, East Stroudsburg, Allentown, Scranton, and Ocean City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Essa Bank & Trust 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. Essa Bank & Trust 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 relatively high 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
    Home Equity Line of Credit (HELOC) 7.09% 7/13/25
    30 Year Conventional Purchase 6.67% 7/13/25
    30 Year Conventional Refi 6.84% 7/13/25
    30 Year Cash-out Refi 7.08% 7/13/25
    15 Year Conventional Purchase 6.68% 7/13/25
    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.

    Essa Bank & Trust Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Essa Bank & Trust. 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

    602

    Origination Dollar Volume (All Markets)

    $147,370,000
    Show all (7) awards

    Relative Rate

    Essa Bank & Trust's average 30 year fixed mortgage rate was 7.29%.

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

    This yields a difference of 0.74%.

    Relative Fees (Closing Costs)

    Essa Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $4,323.

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 114 $38,770,000 $340,088 $3,973 6.55%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 205 $34,455,000 $168,073 $2,853 7.51%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 167 $34,115,000 $204,281 $3,300 7.28%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 82 $26,220,000 $319,756 $5,458 7.07%
    OCEAN CITY, NJ (FHA|USDA|VA) 8 $6,160,000 $770,000 $12,505 7.17%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 12 $3,300,000 $275,000 $5,104 7.86%
    Outside of Metro Areas 7 $2,305,000 $329,286 $5,524 7.11%
    Pottsville, PA (FHA|USDA|VA) 3 $1,095,000 $365,000 $8,262 6.72%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $455,000 $455,000 $5,279 7.40%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $3,633 7.25%
    READING, PA (FHA|USDA|VA) 2 $240,000 $120,000 $3,678 7.33%
    Essa Bank & Trust's top markets include Philadelphia, East Stroudsburg, Allentown, Scranton, and Ocean City among others.

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

    • Similar Lenders

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

    Columbia Bank
    Similarity Rank: 32
    County Savings Bank
    Similarity Rank: 82
    The Honesdale National Bank
    Similarity Rank: 175
    FREEDOM CREDIT UNION
    Similarity Rank: 255
    NET
    Similarity Rank: 324
    NBT Bank
    Similarity Rank: 414
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 455
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 481
    Peoples Security Bank and Trust Company
    Similarity Rank: 540
    First Columbia Bank & Trust Co.
    Similarity Rank: 551

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 445 $130,265,000 $292,730 $3,937 6.77%
    HELOC 157 $17,105,000 $108,949 n/a 8.43%

    For 2024, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 445 originations. Their 2nd most popular type was HELOC, with 157 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 349 $115,215,000 $330,129 $4,873 6.70%
    Home Improvement 90 $7,630,000 $84,778 $229 8.01%
    Other 85 $7,745,000 $91,118 $517 7.93%
    Cash Out Refi 62 $7,790,000 $125,645 $1,598 7.83%
    Refi 16 $8,990,000 $561,875 $2,645 7.17%

    For 2024, Essa Bank & Trust's most frequently cited loan purpose was Home Purchase, with 349 originations. The 2nd most popular reason was Home Improvement, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 405 $89,285,000 $220,457 $4,323 7.29%
    30+ year 69 $33,975,000 $492,391 $7,120 6.75%
    20 Year 49 $5,745,000 $117,245 $686 7.42%
    10 Year 29 $2,465,000 $85,000 $275 6.99%
    15 Year 21 $2,465,000 $117,381 $1,598 7.05%
    5 Year 20 $6,980,000 $349,000 $0 6.86%
    Other 8 $6,350,000 $793,750 $6,572 7.08%
    1 Year 1 $105,000 $105,000 $0 9.50%

    For 2024, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 405 originations. The 2nd most popular length was 30+ year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 356 $84,720,000 $237,978
    $1k-2k 26 $10,570,000 $406,538
    $5k+ 20 $15,730,000 $786,500
    $4k-5k 8 $3,000,000 $375,000
    $2k-3k 7 $1,385,000 $197,857
    $3k-4k 4 $1,270,000 $317,500

    Essa Bank & Trust's average total fees were $4,323, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 356 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 279 $84,455,000 $302,706
    7-8% 153 $37,295,000 $243,758
    Over 8% 135 $17,485,000 $129,519
    5-6% 35 $8,135,000 $232,429

    During 2024, Essa Bank & Trust's average interest rate for loans was 7.29%, while their most frequently originated rate bucket for loans was 6-7%, with 279 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 176 $48,800,000 $277,273 $3,917 6.85%
    $100,000 or less 170 $8,410,000 $49,471 $380 7.82%
    $100k-200k 162 $23,890,000 $147,469 $2,548 7.14%
    $400k-600k 60 $28,630,000 $477,167 $6,891 6.83%
    $600k-1MM 22 $16,690,000 $758,636 $10,161 6.76%
    $1MM+ 12 $20,950,000 $1,745,833 $19,468 6.98%

    2024 saw Essa Bank & Trust place emphasis on $200k-400k loans with 176 originations, totaling $48,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 135 $36,955,000 $273,741 $4,794 7.32%
    $50k-75k 120 $16,860,000 $140,500 $2,342 7.03%
    $100k-150k 113 $25,175,000 $222,788 $4,049 7.31%
    $75k-100k 84 $13,120,000 $156,190 $2,609 7.17%
    $250k+ 70 $37,140,000 $530,571 $9,378 7.24%
    $50k or less 63 $5,945,000 $94,365 $1,600 6.98%

    Essa Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 135 originations. The second most popular income band? $50k-75k, with 120 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $29,720,000 $239,677 $4,168 7.14%
    30-36% 115 $25,735,000 $223,783 $3,946 7.20%
    <20% 42 $7,210,000 $171,667 $4,339 7.37%
    42% 39 $6,015,000 $154,231 $2,639 7.41%
    43% 36 $11,130,000 $309,167 $4,435 7.31%
    40% 26 $6,550,000 $251,923 $4,328 7.37%
    49% 22 $5,220,000 $237,273 $4,810 6.98%
    37% 21 $4,955,000 $235,952 $2,618 7.25%
    39% 21 $2,945,000 $140,238 $2,005 7.22%
    41% 20 $3,030,000 $151,500 $2,257 7.49%
    38% 20 $5,060,000 $253,000 $3,146 6.98%
    45% 19 $4,465,000 $235,000 $3,331 6.97%
    36% 17 $3,755,000 $220,882 $4,498 6.99%
    44% 16 $4,430,000 $276,875 $4,953 7.35%
    47% 16 $5,430,000 $339,375 $4,886 6.78%
    48% 15 $4,425,000 $295,000 $4,840 6.86%
    46% 15 $4,195,000 $279,667 $4,881 6.97%
    50-60% 2 $950,000 $475,000 $6,267 8.00%
    >60% 1 $105,000 $105,000 $0 7.00%

    Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 437 $100,725,000 $230,492 $4,208 7.34%
    Black 96 $20,930,000 $218,021 $2,907 6.47%
    Not applicable 13 $11,665,000 $897,308 $0 7.69%
    Not provided 32 $7,540,000 $235,625 $4,898 7.50%
    Asian 15 $3,745,000 $249,667 $3,280 6.80%
    Other Asian 3 $745,000 $248,333 $2,569 6.20%
    Asian Indian 3 $735,000 $245,000 $2,222 7.68%
    Filipino 1 $475,000 $475,000 $10,754 6.70%
    Native Hawaiian or Islander 1 $445,000 $445,000 $4,861 7.30%
    American Indian 1 $365,000 $365,000 $5,720 7.05%

    Approval Rates

    Total approvals of all applications
    86.80%

    Essa Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.72%

    Essa Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 602 $147,370,000 $244,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    602 $147,370,000 $244,801

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 100 $14,500,000 $145,000 $3,209 7.98%
    40-60% 51 $12,685,000 $248,725 $4,677 7.23%
    60-80% 106 $47,870,000 $451,604 $6,093 6.89%
    80-100% 212 $65,120,000 $307,170 $4,212 6.57%
    Under 20% 133 $7,195,000 $54,098 $90 7.85%