Essa Bank & Trust Mortgage Rates, Fees & InfoStroudsburg, PA
Tax ID: 24-0568185
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewEssa Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Essa Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Allentown, East Stroudsburg, Scranton, and New York among others. We have data for 13 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 an average 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.09%||11/30/23|
|30 Year Conventional Purchase||6.45%||11/30/23|
|30 Year Conventional Refi||6.53%||11/30/23|
|30 Year Cash-out Refi||6.27%||11/30/23|
|15 Year Conventional Purchase||5.79%||11/30/23|
|15 Year Conventional Refi||5.91%||11/30/23|
|15 Year Cash-out Refi||5.91%||11/30/23|
|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 EstimatesEstimated 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.
Origination Dollar Volume (All Markets)$307,920,000
ESSA Bank & Trust - 2022
ESSA Bank & Trust is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Essa Bank & Trust's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.16%.
Relative Fees (Closing Costs)
Essa Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,866.
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 $4,750.
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)||159||$118,245,000||$743,679||$6,101||4.75%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||236||$71,820,000||$304,322||$4,043||4.44%|
|EAST STROUDSBURG, PA (FHA|USDA|VA)||359||$65,785,000||$183,245||$3,132||4.40%|
|SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)||103||$32,035,000||$311,019||$4,377||4.66%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||27||$5,855,000||$216,852||$2,778||4.69%|
|OCEAN CITY, NJ (FHA|USDA|VA)||5||$3,725,000||$745,000||$10,843||4.64%|
|Outside of Metro Areas||11||$2,885,000||$262,273||$4,518||4.26%|
|READING, PA (FHA|USDA|VA)||3||$2,255,000||$751,667||$0||3.83%|
|Pottsville, PA (FHA|USDA|VA)||6||$2,070,000||$345,000||$5,530||4.44%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$1,945,000||$1,945,000||$11,976||4.50%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||2||$630,000||$315,000||$5,203||5.43%|
|STATE COLLEGE, PA (FHA|USDA|VA)||1||$515,000||$515,000||$5,818||4.75%|
|BLOOMSBURG-BERWICK, PA (FHA|USDA|VA)||1||$155,000||$155,000||$3,226||5.85%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 705 originations. Their 2nd most popular type was HELOC, with 209 originations.
For 2022, Essa Bank & Trust's most frequently cited loan purpose was Home Purchase, with 437 originations. The 2nd most popular reason was Home Improvement, with 154 originations.
For 2022, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 487 originations. The 2nd most popular length was 30+ year, with 117 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Essa Bank & Trust's average total fees were $4,866, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 541 originations.
During 2022, Essa Bank & Trust's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was 3-4%, with 267 originations.
2022 saw Essa Bank & Trust place emphasis on $100,000 or less loans with 268 originations, totaling $14,050,000 in origination value.
Essa Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 217 originations. The second most popular income band? $150k-250k, with 192 originations.
Applicant Debt to Income Ratio
Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 215 originations. The next most common DTI ratio? 30-36%, with 164 originations.
Approval RatesTotal approvals of all applications
Essa Bank & Trust has an average approval rate.
Pick RateApprovals leading to origination
Essa Bank & Trust has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|