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

Jump to:

  • 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 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 above average approval rate when compared to the average across all lenders. They have an above 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.

    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) 6.09% 12/16/24
    30 Year Conventional Purchase 6.45% 12/16/24
    30 Year Conventional Refi 6.53% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.79% 12/16/24
    15 Year Conventional Refi 5.91% 12/16/24
    15 Year Cash-out Refi 5.91% 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.

    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

    689

    Origination Dollar Volume (All Markets)

    $141,415,000

    Employee count

    253 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) 216 $50,890,000 $235,602 $2,876 4.11%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 280 $42,460,000 $151,643 $2,276 4.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 57 $20,585,000 $361,140 $5,190 4.20%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 91 $19,165,000 $210,604 $3,230 4.04%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 24 $2,950,000 $122,917 $2,225 4.06%
    OCEAN CITY, NJ (FHA|USDA|VA) 5 $2,375,000 $475,000 $4,118 4.29%
    Pottsville, PA (FHA|USDA|VA) 7 $1,555,000 $222,143 $4,128 4.14%
    READING, PA (FHA|USDA|VA) 4 $1,090,000 $272,500 $4,123 4.34%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $185,000 $185,000 $1,230 4.30%
    Outside of Metro Areas 4 $160,000 $40,000 $0 3.89%
    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)

    • 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.

    NE PA COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 84
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    The Honesdale National Bank
    Similarity Rank: 192
    First Columbia Bank & Trust Co.
    Similarity Rank: 288
    Columbia Bank
    Similarity Rank: 440
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 528
    First Commonwealth Federal Credit Union
    Similarity Rank: 572
    NBT Bank
    Similarity Rank: 672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 687 $140,505,000 $204,520 $2,782 4.06%
    HELOC 2 $910,000 $455,000 n/a 5.99%

    For 2019, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 687 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 348 $83,310,000 $239,397 $3,958 4.12%
    Cash Out Refi 169 $27,305,000 $161,568 $1,638 4.01%
    Refi 103 $26,525,000 $257,524 $2,487 3.88%
    Home Improvement 56 $3,470,000 $61,964 $171 4.15%
    Other 13 $805,000 $61,923 $292 4.38%

    For 2019, Essa Bank & Trust's most frequently cited loan purpose was Home Purchase, with 348 originations. The 2nd most popular reason was Cash Out Refi, with 169 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 236 $50,210,000 $212,754 $3,632 4.04%
    15 Year 130 $18,320,000 $140,923 $1,935 3.87%
    20 Year 98 $19,410,000 $198,061 $2,120 4.08%
    10 Year 76 $10,490,000 $138,026 $436 4.33%
    30+ year 65 $22,635,000 $348,231 $5,066 4.13%
    5 Year 55 $6,055,000 $110,091 $0 4.00%
    Other 28 $13,890,000 $496,071 $4,834 4.34%
    1 Year 1 $405,000 $405,000 $0 6.00%

    For 2019, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was 15 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 432 $62,630,000 $144,977
    $1k-2k 162 $41,810,000 $258,086
    $2k-3k 15 $3,305,000 $220,333
    $5k+ 7 $6,795,000 $970,714
    $3k-4k 3 $635,000 $211,667
    $4k-5k 3 $875,000 $291,667

    Essa Bank & Trust's average total fees were $3,632, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 432 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 372 $74,060,000 $199,086
    4-5% 284 $58,400,000 $205,634
    5-6% 27 $7,485,000 $277,222
    2.5-3% 4 $610,000 $152,500

    During 2019, Essa Bank & Trust's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 3-4%, with 372 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 213 $30,975,000 $145,423 $2,724 4.03%
    $100,000 or less 209 $11,255,000 $53,852 $1,002 4.07%
    $200k-400k 204 $56,120,000 $275,098 $3,640 4.06%
    $400k-600k 35 $16,995,000 $485,571 $5,344 4.31%
    $600k-1MM 23 $17,285,000 $751,522 $9,793 3.99%
    $1MM+ 5 $8,785,000 $1,757,000 $20,905 4.60%

    2019 saw Essa Bank & Trust place emphasis on $100k-200k loans with 213 originations, totaling $30,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 161 $29,515,000 $183,323 $2,789 4.03%
    $50k-75k 124 $15,450,000 $124,597 $2,320 4.05%
    $75k-100k 109 $15,795,000 $144,908 $2,302 4.03%
    $50k or less 92 $7,770,000 $84,457 $1,708 3.95%
    $150k-250k 85 $23,035,000 $271,000 $3,403 3.93%
    $250k+ 62 $28,020,000 $451,935 $5,483 4.00%

    Essa Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 161 originations. The second most popular income band? $50k-75k, with 124 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 156 $30,580,000 $196,026 $2,985 3.92%
    30-36% 121 $20,875,000 $172,521 $2,605 4.03%
    <20% 80 $15,780,000 $197,250 $2,736 3.83%
    42% 37 $3,995,000 $107,973 $1,387 4.20%
    40% 24 $4,730,000 $197,083 $2,771 4.16%
    37% 24 $4,700,000 $195,833 $2,916 4.11%
    39% 23 $3,745,000 $162,826 $2,410 4.04%
    38% 23 $4,955,000 $215,435 $2,597 4.25%
    43% 20 $4,130,000 $206,500 $2,858 4.05%
    41% 20 $4,700,000 $235,000 $3,685 4.05%
    36% 20 $3,240,000 $162,000 $2,465 4.07%
    44% 19 $4,455,000 $234,474 $3,507 3.97%
    45% 18 $3,030,000 $168,333 $2,810 3.89%
    47% 10 $2,230,000 $223,000 $3,315 4.27%
    49% 9 $2,145,000 $238,333 $3,573 3.88%
    46% 8 $1,530,000 $191,250 $2,789 3.83%
    48% 6 $1,570,000 $261,667 $4,551 3.92%
    >60% 5 $1,025,000 $205,000 $0 4.66%
    50-60% 1 $475,000 $475,000 $4,647 3.75%

    Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 156 originations. The next most common DTI ratio? 30-36%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 505 $91,705,000 $181,594 $2,655 4.00%
    Not provided 106 $22,480,000 $212,075 $2,883 4.04%
    Not applicable 53 $20,815,000 $392,736 $0 4.76%
    Asian 12 $4,280,000 $356,667 $8,422 4.15%
    Black 9 $1,505,000 $167,222 $3,303 4.21%
    American Indian 3 $405,000 $135,000 $1,340 4.09%
    Other Asian 1 $225,000 $225,000 $3,656 3.85%

    Approval Rates

    Total approvals of all applications
    90.82%

    Essa Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.45%

    Essa Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 689 $141,415,000 $205,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 23 $15,935,000 $692,826
    Single Family (1-4 Units):Manufactured 2 $250,000 $125,000
    Single Family (1-4 Units):Site-Built 664 $125,230,000 $188,599

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $7,395,000 $117,381 $1,041 3.99%
    40-60% 92 $17,260,000 $187,609 $2,415 3.81%
    60-80% 253 $65,455,000 $258,715 $3,597 4.12%
    80-100% 195 $45,695,000 $234,333 $3,681 4.09%
    Over 100% 8 $2,260,000 $282,500 $3,700 4.85%
    Under 20% 76 $2,430,000 $31,974 $26 4.08%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    EZ FUNDINGS Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    ESSA Bank & Trust 1065 Pa Hwy 315, Suite 101 Wilkes Barre, PA 18702 Full Service B&M $52,643
    ESSA Bank & Trust 11 North Main Street Alburtis, PA 18011 Full Service B&M $21,588
    ESSA Bank & Trust 14 South Main Street Nazareth, PA 18064 Full Service B&M $23,025
    ESSA Bank & Trust 1430 Jacobsburg Road Wind Gap, PA 18091 Full Service B&M $35,644
    ESSA Bank & Trust 1881 Route 209 Brodheadsville, PA 18322 Full Service B&M $109,449
    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 $421,458
    ESSA Bank & Trust 227 West Lancaster Ave Devon, PA 19333 Full Service B&M $12,918
    ESSA Bank & Trust 2415 Park Avenue Easton, PA 18045 Full Service B&M $54,375
    ESSA Bank & Trust 249 Route 940, Blakeslee Corners Blakeslee, PA 18610 Full Service B&M $29,631
    ESSA Bank & Trust 2826 Route 611 Tannersville, PA 18372 Full Service B&M $98,892
    ESSA Bank & Trust 300 Mulberry Street Scranton, PA 18503 Full Service B&M $15,020
    ESSA Bank & Trust 354 West Lancaster Ave Haverford, PA 19041 Full Service B&M $23,207
    ESSA Bank & Trust 358 South Walnut Street Bath, PA 18014 Full Service B&M $52,155
    ESSA Bank & Trust 418 West Broad Street Bethlehem, PA 18018 Full Service B&M $79,094
    ESSA Bank & Trust 48 West Marshall Road Lansdowne, PA 19050 Full Service B&M $21,117
    ESSA Bank & Trust 5120 Milford Road East Stroudsburg, PA 18302 Full Service B&M $53,159
    ESSA Bank & Trust 5580 Crawford Drive Bethlehem, PA 18018 Full Service B&M $12,453
    ESSA Bank & Trust 600 Hamilton Street, Suite 100 Allentown, PA 18101 Full Service B&M $44,257
    ESSA Bank & Trust 6302 Route 309 New Tripoli, PA 18066 Full Service B&M $15,386
    ESSA Bank & Trust 75 Washington Street East Stroudsburg, PA 18301 Full Service B&M $97,960
    ESSA Bank & Trust 8045 West Chester Pike Upper Darby, PA 19082 Full Service B&M $54,003
    ESSA Bank & Trust 975 Route 390 Cresco, PA 18326 Full Service B&M $18,128

    For 2019, Essa Bank & Trust had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $67,582
    Net interest income $46,594
    Total noninterest income $7,919
    Gross Fiduciary activities income $948
    Service charges on deposit accounts $2,226
    Trading account gains and fees $0
    Additional Noninterest Income $4,745
    Pre-tax net operating income $15,235
    Securities gains (or losses, -) $261
    Income before extraordinary items $12,912
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,912
    Minority interest net income $0
    Net income $12,912
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,695

    Essa Bank & Trust's gross interest income from loans was $67,582,000.
    Essa Bank & Trust's net interest income from loans was $46,594,000.
    Essa Bank & Trust's fee based income from loans was $2,226,000.
    Essa Bank & Trust's net income from loans was $12,912,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $20,988
    Provision for credit losses $1,575
    Total noninterest expense $37,703
    Salaries and employee benefits $22,978
    Premises and equipment expense $4,212
    Additional noninterest expense $10,513
    Applicable income taxes $2,584
    Net charge-offs $1,049
    Cash dividends $15,000

    Essa Bank & Trust's interest expense for loans was $20,988,000.
    Essa Bank & Trust's payroll and benefits expense were $22,978,000.
    Essa Bank & Trust's property, plant and equipment expenses $4,212,000.

    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 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $1,359,781
    Deposits held in domestic offices $1,359,781
    Deposits by Individuals, partnerships, and corporations $1,181,341
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $156,732
    Deposits by Commercial banks and other depository institutions in U.S. $21,708
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $393,604
    Demand deposits $393,604
    Nontransaction accounts $966,177
    Money market deposit accounts (MMDAs) $350,630
    Other savings deposits (excluding MMDAs) $148,397
    Total time deposits $467,150
    Total time and savings deposits $966,177
    Noninterest-bearing deposits $175,733
    Interest-bearing deposits $1,184,048
    Retail deposits $1,114,039
    IRAs and Keogh plan accounts $44,978
    Brokered deposits $205,912
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,803,988
    Cash & Balances due from depository institutions $36,851
    Interest-bearing balances $25,229
    Total securities $312,768
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,345,311
    Loan and leases loss allowance $12,747
    Trading account assets $54
    Bank premises and fixed assets $21,016
    Other real estate owned $343
    Goodwill and other intangibles $14,962
    All other assets $72,683

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,803,988
    Total Liabilities $1,620,017
    Total deposits $1,359,781
    Interest-bearing deposits $1,184,048
    Deposits held in domestic offices $1,359,781
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $58
    Other borrowed funds $242,679
    Subordinated debt $0
    All other liabilities $17,499

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,345,311
    Loan and leases loss allowance $12,747
    Total loans and leases (domestic) $1,358,058
    All real estate loans $1,139,287
    Real estate loans in domestic offices $1,139,287
    Construction and development loans $103,754
    Residential 1-4 family construction $11,836
    Other construction, all land development and other land $91,918
    Loans secured by nonfarm nonresidential properties $275,598
    Nonfarm nonresidential secured by owner-occupied properties $132,964
    Commercial real estate & other non-farm, non-residential $142,634
    Multifamily residential real estate $68,101
    1-4 family residential loans $691,828
    Farmland loans $6
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $72,436
    To non-U.S. addressees $0
    Loans to individuals $70,231
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $68,104
    Other loans to individuals $2,127
    All other loans & leases $76,104
    Loans to foreign governments and official institutions $0
    Other loans $190
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $12,733
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,057
    Non 1-4 family restructured loans & leases $192
    Total loans and leases (foreign) $0

    ESSA Bank & Trust had $1,345,311,000 of loans outstanding in 2019. $1,139,287,000 of loans were in real estate loans. $103,754,000 of loans were in development loans. $68,101,000 of loans were in multifamily mortgage loans. $691,828,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $68,104,000 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 388 $81,120 $209,072
    Nonfarm, nonresidential loans - <$100k 95 $3,810 $40,105
    Nonfarm, nonresidential loans - $100-250k 114 $15,121 $132,640
    Nonfarm, nonresidential loans - $250k-1MM 179 $62,189 $347,425
    Commercial & Industrial, US addressed loans - <$1MM 310 $31,591 $101,906
    Commercial & Industrial, US addressed loans - <$100k 165 $4,737 $28,709
    Commercial & Industrial, US addressed loans - $100-250k 77 $7,921 $102,870
    Commercial & Industrial, US addressed loans - $250k-1MM 68 $18,933 $278,426
    Farmland loans - <$1MM 1 $6 $6,000
    Farmland loans - <$100k 1 $6 $6,000