Essa Bank & Trust Mortgage Rates, Fees & Info

Stroudsburg, PA

LEI: 549300W5E3L00UZ6F777

Tax ID: 24-0568185

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
  • Complaints
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Essa 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: Allentown, East Stroudsburg, Philadelphia, Scranton, and New York among others. We have data for 10 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.09% 11/17/24
    30 Year Conventional Purchase 6.45% 11/17/24
    30 Year Conventional Refi 6.53% 11/17/24
    30 Year Cash-out Refi 6.27% 11/17/24
    15 Year Conventional Purchase 5.79% 11/17/24
    15 Year Conventional Refi 5.91% 11/17/24
    15 Year Cash-out Refi 5.91% 11/17/24
    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.

    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

    608

    Origination Dollar Volume (All Markets)

    $113,940,000

    Employee count

    261 Show all (7) 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
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 208 $44,080,000 $211,923 $3,182 4.39%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 246 $29,300,000 $119,106 $2,630 4.32%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 63 $22,305,000 $354,048 $3,267 4.39%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 61 $13,225,000 $216,803 $3,432 4.55%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $2,290,000 $163,571 $3,071 4.21%
    Pottsville, PA (FHA|USDA|VA) 4 $1,080,000 $270,000 $4,076 4.75%
    READING, PA (FHA|USDA|VA) 6 $680,000 $113,333 $2,581 4.17%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $455,000 $455,000 $3,471 4.25%
    Outside of Metro Areas 4 $320,000 $80,000 $2,058 4.03%
    LANCASTER, PA (FHA|USDA|VA) 1 $205,000 $205,000 $4,151 4.85%
    Essa Bank & Trust's top markets include Allentown, East Stroudsburg, Philadelphia, Scranton, and New York among others.

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

    The Neffs National Bank
    Similarity Rank: 30
    Iron Workers Savings Bank
    Similarity Rank: 63
    Haddon Savings Bank
    Similarity Rank: 116
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 136
    The Honesdale National Bank
    Similarity Rank: 153
    The Luzerne Bank
    Similarity Rank: 216
    WASHINGTON SAVINGS BANK
    Similarity Rank: 225
    COMMUNITY POWERED
    Similarity Rank: 228

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 606 $113,600,000 $187,459 $3,000 4.37%
    HELOC 2 $340,000 $170,000 n/a 6.00%

    For 2018, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 606 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 266 $61,640,000 $231,729 $3,574 4.57%
    Cash Out Refi 221 $21,165,000 $95,769 $1,918 4.19%
    Refi 83 $28,295,000 $340,904 $2,733 4.30%
    Home Improvement 29 $2,445,000 $84,310 $2,007 4.35%
    Other 9 $395,000 $43,889 $1,355 3.83%

    For 2018, Essa Bank & Trust's most frequently cited loan purpose was Home Purchase, with 266 originations. The 2nd most popular reason was Cash Out Refi, with 221 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 162 $33,500,000 $206,790 $3,280 4.54%
    15 Year 141 $16,205,000 $114,929 $2,244 4.35%
    10 Year 81 $6,815,000 $84,136 $1,757 4.27%
    20 Year 65 $12,445,000 $191,462 $2,012 4.40%
    30+ year 58 $17,960,000 $309,655 $4,482 4.59%
    5 Year 58 $10,710,000 $184,655 $0 3.66%
    Other 38 $15,830,000 $416,579 $4,038 4.61%
    1 Year 3 $445,000 $148,333 $0 5.83%
    3 Year 2 $30,000 $15,000 $0 3.33%

    For 2018, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 162 originations. The 2nd most popular length was 15 Year, with 141 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $42,890,000 $161,241
    $1k-2k 131 $37,285,000 $284,618
    $2k-3k 5 $735,000 $147,000
    $3k-4k 1 $235,000 $235,000

    Essa Bank & Trust's average total fees were $3,280, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 398 $77,740,000 $195,327
    3-4% 152 $20,410,000 $134,276
    5-6% 52 $15,450,000 $297,115
    2.5-3% 5 $215,000 $43,000
    6-7% 1 $125,000 $125,000

    During 2018, Essa Bank & Trust's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 398 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 235 $12,445,000 $52,957 $2,062 4.22%
    $100k-200k 187 $26,335,000 $140,829 $2,540 4.40%
    $200k-400k 131 $35,035,000 $267,443 $3,623 4.56%
    $400k-600k 35 $16,155,000 $461,571 $5,071 4.49%
    $600k-1MM 14 $11,620,000 $830,000 $6,156 4.40%
    $1MM+ 6 $12,350,000 $2,058,333 $9,428 4.41%

    2018 saw Essa Bank & Trust place emphasis on $100,000 or less loans with 235 originations, totaling $12,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 130 $14,790,000 $113,769 $2,615 4.32%
    $75k-100k 118 $16,350,000 $138,559 $2,684 4.45%
    $100k-150k 116 $18,960,000 $163,448 $3,173 4.29%
    $50k or less 82 $6,590,000 $80,366 $2,362 4.23%
    $150k-250k 72 $14,190,000 $197,083 $3,269 4.37%
    $250k+ 48 $20,680,000 $430,833 $4,867 4.36%

    Essa Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 130 originations. The second most popular income band? $75k-100k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 165 $27,175,000 $164,697 $2,944 4.29%
    30-36% 113 $16,445,000 $145,531 $2,744 4.40%
    <20% 50 $9,140,000 $182,800 $3,423 4.21%
    39% 27 $3,585,000 $132,778 $2,545 4.38%
    37% 27 $4,645,000 $172,037 $3,494 4.28%
    42% 22 $3,450,000 $156,818 $2,974 4.38%
    41% 22 $2,730,000 $124,091 $2,733 4.34%
    40% 18 $3,140,000 $174,444 $2,772 4.45%
    36% 16 $2,030,000 $126,875 $3,031 4.22%
    38% 16 $2,070,000 $129,375 $2,873 4.36%
    43% 15 $2,375,000 $158,333 $3,076 4.16%
    44% 15 $2,175,000 $145,000 $2,783 4.30%
    45% 14 $3,740,000 $267,143 $3,718 4.55%
    48% 11 $2,315,000 $210,455 $3,491 4.44%
    47% 10 $2,600,000 $260,000 $3,668 4.28%
    46% 7 $1,245,000 $177,857 $3,387 4.76%
    >60% 6 $840,000 $140,000 $0 4.79%
    49% 4 $710,000 $177,500 $2,975 4.43%
    50-60% 2 $130,000 $65,000 $0 4.93%

    Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 452 $70,950,000 $156,969 $2,946 4.35%
    Not applicable 43 $22,405,000 $521,047 $0 4.81%
    Not provided 95 $18,035,000 $189,842 $3,254 4.31%
    Asian 6 $1,240,000 $206,667 $3,060 4.02%
    Black 11 $1,215,000 $110,455 $2,758 4.36%
    Vietnamese 1 $95,000 $95,000 $1,480 4.50%

    Approval Rates

    Total approvals of all applications
    87.83%

    Essa Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.64%

    Essa Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 608 $113,940,000 $187,401

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 23 $19,005,000 $826,304
    Single Family (1-4 Units):Site-Built 585 $94,935,000 $162,282

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 73 $8,955,000 $122,671 $1,844 4.17%
    40-60% 72 $10,120,000 $140,556 $2,141 4.28%
    60-80% 205 $53,105,000 $259,049 $3,052 4.46%
    80-100% 156 $37,270,000 $238,910 $3,438 4.54%
    Over 100% 9 $1,225,000 $136,111 $3,520 4.96%
    Under 20% 92 $2,760,000 $30,000 $2,592 4.06%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    EZ FUNDINGS Inc. Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    ESSA Bank & Trust 1065 Pa Hwy 315 Wilkes Barre, PA 18702 Full Service B&M $55,643
    ESSA Bank & Trust 11 North Main Street Alburtis, PA 18011 Full Service B&M $25,202
    ESSA Bank & Trust 14 South Main Street Nazareth, PA 18064 Full Service B&M $27,797
    ESSA Bank & Trust 1430 Jacobsburg Road Wind Gap, PA 18091 Full Service B&M $35,581
    ESSA Bank & Trust 1881 Route 209 Brodheadsville, PA 18322 Full Service B&M $98,140
    ESSA Bank & Trust 200 Palmer Street Stroudsburg, PA 18360 Limited, Administrative $0
    ESSA Bank & Trust 200 Palmer Street Stroudsburg, PA 18360 Full Service B&M $417,594
    ESSA Bank & Trust 227 West Lancaster Ave Devon, PA 19333 Full Service B&M $10,482
    ESSA Bank & Trust 2415 Park Avenue Easton, PA 18045 Full Service B&M $57,005
    ESSA Bank & Trust 249 Route 940, Blakeslee Corners Blakeslee, PA 18610 Full Service B&M $24,290
    ESSA Bank & Trust 2826 Route 611 Tannersville, PA 18372 Full Service B&M $95,502
    ESSA Bank & Trust 300 Mulberry Street Scranton, PA 18503 Full Service B&M $9,592
    ESSA Bank & Trust 354 West Lancaster Ave Haverford, PA 19041 Full Service B&M $16,605
    ESSA Bank & Trust 358 South Walnut Street Bath, PA 18014 Full Service B&M $49,902
    ESSA Bank & Trust 418 West Broad Street Bethlehem, PA 18018 Full Service B&M $77,737
    ESSA Bank & Trust 471-497 Wabash Street Allentown, PA 18103 Full Service B&M $23,249
    ESSA Bank & Trust 48 West Marshall Road Lansdowne, PA 19050 Full Service B&M $23,012
    ESSA Bank & Trust 5120 Milford Road East Stroudsburg, PA 18302 Full Service B&M $53,585
    ESSA Bank & Trust 5580 Crawford Drive Bethlehem, PA 18018 Full Service B&M $6,924
    ESSA Bank & Trust 6302 Route 309 New Tripoli, PA 18066 Full Service B&M $10,583
    ESSA Bank & Trust 75 Washington Street East Stroudsburg, PA 18301 Full Service B&M $93,789
    ESSA Bank & Trust 8045 West Chester Pike Upper Darby, PA 19082 Full Service B&M $57,603
    ESSA Bank & Trust 975 Route 390 Cresco, PA 18326 Full Service B&M $14,892

    For 2018, Essa Bank & Trust had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $66,198
    Net interest income $48,098
    Total noninterest income $7,642
    Gross Fiduciary activities income $822
    Service charges on deposit accounts $2,264
    Trading account gains and fees $0
    Additional Noninterest Income $4,556
    Pre-tax net operating income $13,367
    Securities gains (or losses, -) $163
    Income before extraordinary items $11,410
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,410
    Minority interest net income $0
    Net income $11,410
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,273

    Essa Bank & Trust's gross interest income from loans was $66,198,000.
    Essa Bank & Trust's net interest income from loans was $48,098,000.
    Essa Bank & Trust's fee based income from loans was $2,264,000.
    Essa Bank & Trust's net income from loans was $11,410,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $18,100
    Provision for credit losses $3,876
    Total noninterest expense $38,497
    Salaries and employee benefits $22,837
    Premises and equipment expense $4,270
    Additional noninterest expense $11,390
    Applicable income taxes $2,120
    Net charge-offs $1,488
    Cash dividends $0

    Essa Bank & Trust's interest expense for loans was $18,100,000.
    Essa Bank & Trust's payroll and benefits expense were $22,837,000.
    Essa Bank & Trust's property, plant and equipment expenses $4,270,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,316,357
    Deposits held in domestic offices $1,316,357
    Deposits by Individuals, partnerships, and corporations $1,089,289
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $184,205
    Deposits by Commercial banks and other depository institutions in U.S. $42,863
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $356,704
    Demand deposits $356,704
    Nontransaction accounts $959,653
    Money market deposit accounts (MMDAs) $317,828
    Other savings deposits (excluding MMDAs) $148,023
    Total time deposits $493,803
    Total time and savings deposits $959,653
    Noninterest-bearing deposits $162,457
    Interest-bearing deposits $1,153,900
    Retail deposits $1,100,927
    IRAs and Keogh plan accounts $46,881
    Brokered deposits $158,624
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,858,718
    Cash & Balances due from depository institutions $37,006
    Interest-bearing balances $22,326
    Total securities $376,054
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,334,304
    Loan and leases loss allowance $12,221
    Trading account assets $0
    Bank premises and fixed assets $14,020
    Other real estate owned $876
    Goodwill and other intangibles $15,292
    All other assets $81,166

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,858,718
    Total Liabilities $1,678,785
    Total deposits $1,316,357
    Interest-bearing deposits $1,153,900
    Deposits held in domestic offices $1,316,357
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $352,197
    Subordinated debt $0
    All other liabilities $10,231

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,334,304
    Loan and leases loss allowance $12,221
    Total loans and leases (domestic) $1,346,525
    All real estate loans $1,084,252
    Real estate loans in domestic offices $1,084,252
    Construction and development loans $76,587
    Residential 1-4 family construction $7,187
    Other construction, all land development and other land $69,400
    Loans secured by nonfarm nonresidential properties $268,166
    Nonfarm nonresidential secured by owner-occupied properties $135,772
    Commercial real estate & other non-farm, non-residential $132,394
    Multifamily residential real estate $55,328
    1-4 family residential loans $684,158
    Farmland loans $13
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $59,730
    To non-U.S. addressees $0
    Loans to individuals $127,366
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $124,953
    Other loans to individuals $2,413
    All other loans & leases $75,177
    Loans to foreign governments and official institutions $0
    Other loans $162
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $12,082
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,341
    Non 1-4 family restructured loans & leases $193
    Total loans and leases (foreign) $0

    ESSA Bank & Trust had $1,334,304,000 of loans outstanding in 2018. $1,084,252,000 of loans were in real estate loans. $76,587,000 of loans were in development loans. $55,328,000 of loans were in multifamily mortgage loans. $684,158,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $124,953,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 375 $74,906 $199,749
    Nonfarm, nonresidential loans - <$100k 86 $3,228 $37,535
    Nonfarm, nonresidential loans - $100-250k 109 $13,695 $125,642
    Nonfarm, nonresidential loans - $250k-1MM 180 $57,983 $322,128
    Commercial & Industrial, US addressed loans - <$1MM 296 $26,601 $89,868
    Commercial & Industrial, US addressed loans - <$100k 163 $4,499 $27,601
    Commercial & Industrial, US addressed loans - $100-250k 78 $8,106 $103,923
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $13,996 $254,473
    Farmland loans - <$1MM 1 $13 $13,000
    Farmland loans - <$100k 1 $13 $13,000