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 Refi, Home Purchase, and Cash Out 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 Ocean City among others. We have data for 12 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.

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    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

    1,104

    Origination Dollar Volume (All Markets)

    $267,970,000

    Employee count

    244

    Awards

    ESSA Bank & Trust 30 Year Conventional Loans bronze ESSA Bank & Trust 30 Year Conventional Loans gold ESSA Bank & Trust 30 Year Conventional Loans silver
    Show all (3) 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) 377 $88,215,000 $233,992 $3,088 3.32%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 400 $72,420,000 $181,050 $2,731 3.28%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 122 $57,290,000 $469,590 $5,729 3.45%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 135 $29,845,000 $221,074 $3,083 3.22%
    OCEAN CITY, NJ (FHA|USDA|VA) 10 $6,820,000 $682,000 $10,083 3.51%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 27 $6,445,000 $238,704 $3,319 3.26%
    Pottsville, PA (FHA|USDA|VA) 11 $2,495,000 $226,818 $3,365 3.47%
    Outside of Metro Areas 11 $1,875,000 $170,455 $2,602 3.74%
    READING, PA (FHA|USDA|VA) 7 $1,705,000 $243,571 $2,902 3.24%
    LANCASTER, PA (FHA|USDA|VA) 1 $455,000 $455,000 $7,867 3.05%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 2 $260,000 $130,000 $2,107 2.78%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $145,000 $145,000 $3,010 2.90%
    Essa Bank & Trust's top markets include Allentown, East Stroudsburg, Philadelphia, Scranton, and Ocean City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • (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 Honesdale National Bank
    Similarity Rank: 294
    Alcova Mortgage LLC
    Similarity Rank: 544
    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    First Columbia Bank & Trust Co.
    Similarity Rank: 637
    Prudential Bank
    Similarity Rank: 640
    The Luzerne Bank
    Similarity Rank: 768
    Jersey Shore State Bank
    Similarity Rank: 975
    First Commonwealth Federal Credit Union
    Similarity Rank: 975
    GLENDENNING MORTGAGE CORPORATION
    Similarity Rank: 1340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,097 $266,535,000 $242,967 $3,288 3.31%
    HELOC 7 $1,435,000 $205,000 n/a 4.31%

    For 2020, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 1,097 originations. Their 2nd most popular type was HELOC, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 394 $102,310,000 $259,670 $3,069 3.12%
    Home Purchase 384 $101,500,000 $264,323 $4,448 3.45%
    Cash Out Refi 279 $57,515,000 $206,147 $2,426 3.33%
    Home Improvement 38 $4,880,000 $128,421 $0 3.77%
    Other 9 $1,765,000 $196,111 $0 3.72%

    For 2020, Essa Bank & Trust's most frequently cited loan purpose was Refi, with 394 originations. The 2nd most popular reason was Home Purchase, with 384 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 365 $103,195,000 $282,726 $4,486 3.37%
    15 Year 254 $44,880,000 $176,693 $2,240 3.09%
    20 Year 216 $44,090,000 $204,120 $2,410 3.35%
    30+ year 102 $36,320,000 $356,078 $5,260 3.39%
    10 Year 100 $23,720,000 $237,200 $1,694 3.35%
    5 Year 34 $4,880,000 $143,529 $0 3.55%
    Other 25 $9,585,000 $383,400 $4,176 3.48%
    1 Year 8 $1,300,000 $162,500 $0 4.09%

    For 2020, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 365 originations. The 2nd most popular length was 15 Year, with 254 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 763 $149,345,000 $195,734
    $1k-2k 199 $58,115,000 $292,035
    $2k-3k 45 $11,265,000 $250,333
    $5k+ 20 $16,680,000 $834,000
    $3k-4k 17 $5,105,000 $300,294
    $4k-5k 7 $3,245,000 $463,571

    Essa Bank & Trust's average total fees were $4,486, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 763 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 686 $184,140,000 $268,426
    2.5-3% 324 $66,010,000 $203,735
    4-5% 80 $15,140,000 $189,250
    <2.5% 11 $2,355,000 $214,091
    5-6% 1 $65,000 $65,000
    6-7% 1 $155,000 $155,000
    % 1 $105,000 $105,000

    During 2020, Essa Bank & Trust's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 686 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 388 $106,350,000 $274,098 $3,423 3.25%
    $100k-200k 370 $54,650,000 $147,703 $2,626 3.26%
    $100,000 or less 211 $13,265,000 $62,867 $1,533 3.46%
    $400k-600k 75 $36,855,000 $491,400 $5,715 3.40%
    $600k-1MM 40 $29,190,000 $729,750 $8,646 3.37%
    $1MM+ 20 $27,660,000 $1,383,000 $16,445 3.54%

    2020 saw Essa Bank & Trust place emphasis on $200k-400k loans with 388 originations, totaling $106,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 258 $55,100,000 $213,566 $2,993 3.27%
    $150k-250k 237 $69,115,000 $291,624 $3,392 3.25%
    $75k-100k 178 $29,340,000 $164,831 $2,671 3.30%
    $50k-75k 172 $24,700,000 $143,605 $2,679 3.29%
    $250k+ 119 $57,115,000 $479,958 $6,272 3.34%
    $50k or less 92 $9,190,000 $99,891 $2,399 3.28%

    Essa Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 258 originations. The second most popular income band? $150k-250k, with 237 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 302 $65,500,000 $216,887 $3,034 3.23%
    30-36% 198 $49,910,000 $252,071 $3,537 3.30%
    <20% 175 $41,705,000 $238,314 $3,412 3.20%
    36% 44 $12,350,000 $280,682 $3,711 3.29%
    41% 42 $10,570,000 $251,667 $3,404 3.44%
    40% 39 $8,815,000 $226,026 $2,821 3.33%
    39% 33 $6,625,000 $200,758 $2,631 3.46%
    38% 31 $5,865,000 $189,194 $2,572 3.36%
    43% 28 $5,460,000 $195,000 $3,263 3.29%
    44% 27 $6,895,000 $255,370 $4,131 3.39%
    42% 25 $4,845,000 $193,800 $3,082 3.42%
    37% 24 $4,310,000 $179,583 $2,880 3.33%
    47% 22 $5,990,000 $272,273 $4,591 3.46%
    45% 20 $4,320,000 $216,000 $2,869 3.22%
    48% 13 $2,445,000 $188,077 $3,194 3.38%
    49% 13 $4,845,000 $372,692 $5,326 3.33%
    46% 12 $2,410,000 $200,833 $3,107 3.28%
    50-60% 7 $1,445,000 $206,429 $2,493 3.44%
    >60% 2 $850,000 $425,000 $0 4.00%

    Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 302 originations. The next most common DTI ratio? 30-36%, with 198 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 779 $177,855,000 $228,312 $3,251 3.30%
    Not provided 254 $60,600,000 $238,583 $3,267 3.21%
    Not applicable 43 $21,715,000 $505,000 $0 4.06%
    Asian 14 $4,190,000 $299,286 $5,758 3.54%
    Black 10 $2,910,000 $291,000 $3,429 3.33%
    American Indian 2 $320,000 $160,000 $3,273 3.38%
    Chinese 1 $295,000 $295,000 $0 4.12%
    Vietnamese 1 $85,000 $85,000 $3,415 3.55%

    Approval Rates

    Total approvals of all applications
    94.02%

    Essa Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.21%

    Essa Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,104 $267,970,000 $242,726

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $12,495,000 $1,135,909
    Single Family (1-4 Units):Site-Built 1,093 $255,475,000 $233,737

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $11,525,000 $123,925 $1,896 3.22%
    40-60% 198 $41,250,000 $208,333 $2,718 3.06%
    60-80% 478 $132,510,000 $277,218 $3,619 3.36%
    80-100% 272 $75,680,000 $278,235 $4,124 3.38%
    Over 100% 10 $1,830,000 $183,000 $3,864 3.36%
    Under 20% 51 $2,815,000 $55,196 $567 3.60%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    EZ FUNDINGS Inc. FHA mortgage Struggling to pay 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 $58,394
    Essa Bank & Trust 11 North Main Street Alburtis, PA 18011 Full Service B&M $26,811
    Essa Bank & Trust 1430 Jacobsburg Road Wind Gap, PA 18091 Full Service B&M $37,429
    Essa Bank & Trust 1881 Route 209 Brodheadsville, PA 18322 Full Service B&M $127,742
    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 $471,224
    Essa Bank & Trust 227 West Lancaster Ave Devon, PA 19333 Full Service B&M $18,263
    Essa Bank & Trust 2415 Park Avenue Easton, PA 18045 Full Service B&M $53,747
    Essa Bank & Trust 249 Route 940, Blakeslee Corners Blakeslee, PA 18610 Full Service B&M $34,122
    Essa Bank & Trust 2826 Route 611 Tannersville, PA 18372 Full Service B&M $106,328
    Essa Bank & Trust 300 Mulberry Street Scranton, PA 18503 Full Service B&M $17,705
    Essa Bank & Trust 354 West Lancaster Ave Haverford, PA 19041 Full Service B&M $27,838
    Essa Bank & Trust 358 South Walnut Street Bath, PA 18014 Full Service B&M $54,800
    Essa Bank & Trust 418 West Broad Street Bethlehem, PA 18018 Full Service B&M $84,084
    Essa Bank & Trust 48 West Marshall Road Lansdowne, PA 19050 Full Service B&M $24,225
    Essa Bank & Trust 5120 Milford Road East Stroudsburg, PA 18302 Full Service B&M $63,660
    Essa Bank & Trust 5580 Crawford Drive Bethlehem, PA 18018 Full Service B&M $13,932
    Essa Bank & Trust 600 Hamilton Street, Suite 100 Allentown, PA 18101 Full Service B&M $51,960
    Essa Bank & Trust 6302 Route 309 New Tripoli, PA 18066 Full Service B&M $29,938
    Essa Bank & Trust 75 Washington Street East Stroudsburg, PA 18301 Full Service B&M $106,053
    Essa Bank & Trust 76 South Main Street Nazareth, PA 18064 Full Service B&M $22,647
    Essa Bank & Trust 8045 West Chester Pike Upper Darby, PA 19082 Full Service B&M $51,456
    Essa Bank & Trust 975 Route 390 Cresco, PA 18326 Full Service B&M $19,602

    For 2020, Essa Bank & Trust had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $62,697
    Net interest income $49,073
    Total noninterest income $11,096
    Gross Fiduciary activities income $1,034
    Service charges on deposit accounts $1,523
    Trading account gains and fees $0
    Additional Noninterest Income $8,539
    Pre-tax net operating income $15,686
    Securities gains (or losses, -) $2,706
    Income before extraordinary items $15,100
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,100
    Minority interest net income $0
    Net income $15,100
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,881

    Essa Bank & Trust's gross interest income from loans was $62,697,000.
    Essa Bank & Trust's net interest income from loans was $49,073,000.
    Essa Bank & Trust's fee based income from loans was $1,523,000.
    Essa Bank & Trust's net income from loans was $15,100,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,624
    Provision for credit losses $3,800
    Total noninterest expense $40,683
    Salaries and employee benefits $23,068
    Premises and equipment expense $4,259
    Additional noninterest expense $13,356
    Applicable income taxes $3,292
    Net charge-offs $406
    Cash dividends $11,000

    Essa Bank & Trust's interest expense for loans was $13,624,000.
    Essa Bank & Trust's payroll and benefits expense were $23,068,000.
    Essa Bank & Trust's property, plant and equipment expenses $4,259,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    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 1.0%
    Unsecured commercial real estate loans 6.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,639,651
    Deposits held in domestic offices $1,639,651
    Deposits by Individuals, partnerships, and corporations $1,419,784
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $192,384
    Deposits by Commercial banks and other depository institutions in U.S. $27,483
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $570,472
    Demand deposits $570,472
    Nontransaction accounts $1,069,179
    Money market deposit accounts (MMDAs) $390,173
    Other savings deposits (excluding MMDAs) $177,990
    Total time deposits $501,016
    Total time and savings deposits $1,069,179
    Noninterest-bearing deposits $259,964
    Interest-bearing deposits $1,379,687
    Retail deposits $1,274,941
    IRAs and Keogh plan accounts $42,112
    Brokered deposits $325,012
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,862,897
    Cash & Balances due from depository institutions $211,732
    Interest-bearing balances $193,561
    Total securities $174,076
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,375,918
    Loan and leases loss allowance $16,141
    Trading account assets $1,724
    Bank premises and fixed assets $20,662
    Other real estate owned $365
    Goodwill and other intangibles $15,035
    All other assets $63,385

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,862,898
    Total Liabilities $1,676,274
    Total deposits $1,639,651
    Interest-bearing deposits $1,379,687
    Deposits held in domestic offices $1,639,651
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,723
    Other borrowed funds $14,733
    Subordinated debt $0
    All other liabilities $20,167

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,375,918
    Loan and leases loss allowance $16,141
    Total loans and leases (domestic) $1,392,059
    All real estate loans $1,164,077
    Real estate loans in domestic offices $1,164,077
    Construction and development loans $82,987
    Residential 1-4 family construction $18,088
    Other construction, all land development and other land $64,899
    Loans secured by nonfarm nonresidential properties $290,847
    Nonfarm nonresidential secured by owner-occupied properties $125,723
    Commercial real estate & other non-farm, non-residential $165,124
    Multifamily residential real estate $104,694
    1-4 family residential loans $685,549
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $122,135
    To non-U.S. addressees $0
    Loans to individuals $33,210
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $31,489
    Other loans to individuals $1,721
    All other loans & leases $72,637
    Loans to foreign governments and official institutions $0
    Other loans $130
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,729
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,352
    Non 1-4 family restructured loans & leases $172
    Total loans and leases (foreign) $0

    ESSA Bank & Trust had $1,375,918,000 of loans outstanding in 2020. $1,164,077,000 of loans were in real estate loans. $82,987,000 of loans were in development loans. $104,694,000 of loans were in multifamily mortgage loans. $685,549,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $31,489,000 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 367 $80,623 $219,681
    Nonfarm, nonresidential loans - <$100k 88 $3,397 $38,602
    Nonfarm, nonresidential loans - $100-250k 103 $12,558 $121,922
    Nonfarm, nonresidential loans - $250k-1MM 176 $64,668 $367,432
    Commercial & Industrial, US addressed loans - <$1MM 871 $71,816 $82,452
    Commercial & Industrial, US addressed loans - <$100k 616 $16,734 $27,166
    Commercial & Industrial, US addressed loans - $100-250k 150 $18,674 $124,493
    Commercial & Industrial, US addressed loans - $250k-1MM 105 $36,408 $346,743