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
  • 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, Philadelphia, East Stroudsburg, Scranton, and Naples among others. We have data for 14 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 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% 4/18/24
    30 Year Conventional Purchase 6.45% 4/18/24
    30 Year Conventional Refi 6.53% 4/18/24
    30 Year Cash-out Refi 6.27% 4/18/24
    15 Year Conventional Purchase 5.79% 4/18/24
    15 Year Conventional Refi 5.91% 4/18/24
    15 Year Cash-out Refi 5.91% 4/18/24
    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

    941

    Origination Dollar Volume (All Markets)

    $326,655,000

    Employee count

    234 Show all (6) 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) 319 $116,785,000 $366,097 $3,612 3.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 100 $83,600,000 $836,000 $6,696 3.34%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 346 $75,580,000 $218,439 $3,547 3.09%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 115 $29,905,000 $260,043 $4,216 2.98%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $6,005,000 $6,005,000 $28,778 2.60%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 28 $5,100,000 $182,143 $3,081 2.98%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $2,775,000 $925,000 $21,571 2.42%
    READING, PA (FHA|USDA|VA) 6 $1,810,000 $301,667 $6,029 3.03%
    Outside of Metro Areas 9 $1,735,000 $192,778 $3,866 2.87%
    Pottsville, PA (FHA|USDA|VA) 8 $1,130,000 $141,250 $3,525 3.16%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 2 $1,000,000 $500,000 $3,985 3.35%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $900,000 $450,000 $3,552 2.93%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,445 2.95%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $155,000 $155,000 $3,099 3.05%
    Essa Bank & Trust's top markets include Allentown, Philadelphia, East Stroudsburg, Scranton, and Naples among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Florida (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.

    CROSS VALLEY FEDERAL CREDIT UNION
    Similarity Rank: 159
    The Honesdale National Bank
    Similarity Rank: 175
    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    VISIONS
    Similarity Rank: 624
    First Keystone Community Bank
    Similarity Rank: 680
    First Columbia Bank & Trust Co.
    Similarity Rank: 855
    POLISH & SLAVIC FEDERAL CREDIT UNION
    Similarity Rank: 1026
    Columbia Bank
    Similarity Rank: 1105
    Jersey Shore State Bank
    Similarity Rank: 1305

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 940 $325,940,000 $346,745 $3,989 3.11%
    HELOC 1 $715,000 $715,000 n/a 4.25%

    For 2021, Essa Bank & Trust's most frequently originated type of loan was Conventional, with 940 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 388 $149,130,000 $384,356 $5,145 3.11%
    Cash Out Refi 250 $63,690,000 $254,760 $3,268 3.10%
    Refi 234 $62,670,000 $267,821 $3,678 2.88%
    Home Improvement 41 $48,855,000 $1,191,585 $801 3.93%
    Other 28 $2,310,000 $82,500 $1,124 3.72%

    For 2021, Essa Bank & Trust's most frequently cited loan purpose was Home Purchase, with 388 originations. The 2nd most popular reason was Cash Out Refi, with 250 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 328 $93,690,000 $285,640 $4,323 3.03%
    15 Year 177 $39,505,000 $223,192 $3,607 2.84%
    20 Year 163 $30,565,000 $187,515 $3,203 3.26%
    30+ year 138 $58,280,000 $422,319 $5,897 3.11%
    10 Year 69 $30,605,000 $443,551 $1,647 3.44%
    Other 39 $65,165,000 $1,670,897 $3,980 3.31%
    5 Year 26 $8,630,000 $331,923 $0 3.71%
    1 Year 1 $215,000 $215,000 $0 3.95%

    For 2021, Essa Bank & Trust's most frequently cited loan duration was 30 Year, with 328 originations. The 2nd most popular length was 15 Year, with 177 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 724 $173,590,000 $239,765
    $1k-2k 98 $32,060,000 $327,143
    $2k-3k 34 $6,650,000 $195,588
    $3k-4k 16 $4,670,000 $291,875
    $5k+ 13 $12,035,000 $925,769
    $4k-5k 7 $3,375,000 $482,143

    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 724 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 452 $124,920,000 $276,372
    3-4% 390 $172,910,000 $443,359
    <2.5% 57 $15,965,000 $280,088
    4-5% 39 $12,735,000 $326,538
    5-6% 3 $125,000 $41,667

    During 2021, Essa Bank & Trust's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 452 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 320 $46,840,000 $146,375 $3,177 3.00%
    $200k-400k 311 $85,795,000 $275,868 $4,348 2.99%
    $100,000 or less 143 $8,555,000 $59,825 $1,516 3.44%
    $400k-600k 81 $38,815,000 $479,198 $5,679 3.15%
    $600k-1MM 53 $40,005,000 $754,811 $7,912 3.23%
    $1MM+ 33 $106,645,000 $3,231,667 $16,749 3.46%

    2021 saw Essa Bank & Trust place emphasis on $100k-200k loans with 320 originations, totaling $46,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 220 $49,240,000 $223,818 $3,733 3.02%
    $150k-250k 179 $61,845,000 $345,503 $4,727 3.07%
    $50k-75k 155 $23,245,000 $149,968 $3,029 3.10%
    $75k-100k 137 $24,265,000 $177,117 $3,096 3.13%
    $250k+ 113 $65,835,000 $582,611 $7,038 3.05%
    $50k or less 92 $9,460,000 $102,826 $2,449 3.07%

    Essa Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 220 originations. The second most popular income band? $150k-250k, with 179 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 243 $60,145,000 $247,510 $4,213 2.99%
    30-36% 183 $45,555,000 $248,934 $3,803 3.06%
    <20% 134 $38,670,000 $288,582 $4,197 2.95%
    43% 36 $8,470,000 $235,278 $3,907 3.14%
    42% 31 $7,945,000 $256,290 $3,415 3.31%
    38% 31 $8,755,000 $282,419 $3,660 3.24%
    40% 31 $6,205,000 $200,161 $3,113 3.10%
    39% 29 $7,425,000 $256,034 $3,715 3.21%
    41% 26 $5,850,000 $225,000 $3,510 3.21%
    36% 24 $6,230,000 $259,583 $3,879 3.13%
    44% 22 $8,430,000 $383,182 $4,570 3.10%
    37% 22 $4,520,000 $205,455 $3,249 3.28%
    45% 21 $4,255,000 $202,619 $3,152 3.29%
    49% 18 $5,220,000 $290,000 $4,333 2.94%
    46% 14 $6,570,000 $469,286 $6,132 2.96%
    47% 13 $3,355,000 $258,077 $4,060 3.13%
    48% 11 $3,235,000 $294,091 $4,967 3.00%
    50-60% 7 $2,975,000 $425,000 $5,051 3.58%
    >60% 2 $680,000 $340,000 $0 4.38%

    Essa Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 243 originations. The next most common DTI ratio? 30-36%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 660 $174,230,000 $263,985 $4,015 3.07%
    Not applicable 42 $90,800,000 $2,161,905 $0 3.82%
    Not provided 205 $53,755,000 $262,220 $3,836 3.07%
    Asian 11 $3,615,000 $328,636 $6,543 3.07%
    Black 15 $3,285,000 $219,000 $3,529 3.20%
    American Indian 2 $310,000 $155,000 $2,356 2.93%
    Other Asian 3 $275,000 $91,667 $2,832 2.85%
    Chinese 1 $275,000 $275,000 $4,942 2.95%
    Asian Indian 2 $110,000 $55,000 $3,073 3.45%

    Approval Rates

    Total approvals of all applications
    92.51%

    Essa Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.87%

    Essa Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 941 $326,655,000 $347,136

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    941 $326,655,000 $347,136

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 77 $10,935,000 $142,013 $2,297 3.03%
    40-60% 189 $44,905,000 $237,593 $3,824 2.88%
    60-80% 398 $181,530,000 $456,106 $4,314 3.15%
    80-100% 222 $85,510,000 $385,180 $4,958 3.07%
    Over 100% 3 $1,635,000 $545,000 $14,574 3.50%
    Under 20% 52 $2,140,000 $41,154 $279 3.87%

    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 $57,679
    Essa Bank & Trust 11 North Main Street Alburtis, PA 18011 Full Service B&M $39,453
    Essa Bank & Trust 1430 Jacobsburg Road Wind Gap, PA 18091 Full Service B&M $37,617
    Essa Bank & Trust 1881 Route 209 Brodheadsville, PA 18322 Full Service B&M $124,175
    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 $508,917
    Essa Bank & Trust 227 West Lancaster Ave Devon, PA 19333 Full Service B&M $18,324
    Essa Bank & Trust 2415 Park Avenue Easton, PA 18045 Full Service B&M $52,730
    Essa Bank & Trust 249 Route 940, Blakeslee Corners Blakeslee, PA 18610 Full Service B&M $40,239
    Essa Bank & Trust 2826 Route 611 Tannersville, PA 18372 Full Service B&M $114,334
    Essa Bank & Trust 300 Mulberry Street Scranton, PA 18503 Full Service B&M $22,216
    Essa Bank & Trust 354 West Lancaster Ave Haverford, PA 19041 Full Service B&M $30,498
    Essa Bank & Trust 358 South Walnut Street Bath, PA 18014 Full Service B&M $64,188
    Essa Bank & Trust 418 West Broad Street Bethlehem, PA 18018 Full Service B&M $82,802
    Essa Bank & Trust 48 West Marshall Road Lansdowne, PA 19050 Full Service B&M $25,335
    Essa Bank & Trust 5120 Milford Road East Stroudsburg, PA 18302 Full Service B&M $70,146
    Essa Bank & Trust 5580 Crawford Drive Bethlehem, PA 18018 Full Service B&M $15,509
    Essa Bank & Trust 600 Hamilton Street, Suite 100 Allentown, PA 18101 Full Service B&M $57,548
    Essa Bank & Trust 6302 Route 309 New Tripoli, PA 18066 Full Service B&M $15,100
    Essa Bank & Trust 75 Washington Street East Stroudsburg, PA 18301 Full Service B&M $112,434
    Essa Bank & Trust 76 South Main Street Nazareth, PA 18064 Full Service B&M $24,882
    Essa Bank & Trust 8045 West Chester Pike Upper Darby, PA 19082 Full Service B&M $68,349
    Essa Bank & Trust 975 Route 390 Cresco, PA 18326 Full Service B&M $23,161

    For 2021, Essa Bank & Trust had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $58,437
    Net interest income $53,505
    Total noninterest income $10,349
    Gross Fiduciary activities income $1,108
    Service charges on deposit accounts $1,462
    Trading account gains and fees $0
    Additional Noninterest Income $7,779
    Pre-tax net operating income $20,325
    Securities gains (or losses, -) $460
    Income before extraordinary items $17,142
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $17,142
    Minority interest net income $0
    Net income $17,142
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,764

    Essa Bank & Trust's gross interest income from loans was $58,437,000.
    Essa Bank & Trust's net interest income from loans was $53,505,000.
    Essa Bank & Trust's fee based income from loans was $1,462,000.
    Essa Bank & Trust's net income from loans was $17,142,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,932
    Provision for credit losses $1,800
    Total noninterest expense $41,729
    Salaries and employee benefits $24,874
    Premises and equipment expense $4,422
    Additional noninterest expense $12,433
    Applicable income taxes $3,643
    Net charge-offs $-269
    Cash dividends $6,500

    Essa Bank & Trust's interest expense for loans was $4,932,000.
    Essa Bank & Trust's payroll and benefits expense were $24,874,000.
    Essa Bank & Trust's property, plant and equipment expenses $4,422,000.

    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 3.0%
    Multifamily residential loans 3.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    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 $1,643,590
    Deposits held in domestic offices $1,643,590
    Deposits by Individuals, partnerships, and corporations $1,342,711
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $281,777
    Deposits by Commercial banks and other depository institutions in U.S. $19,103
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $779,080
    Demand deposits $779,080
    Nontransaction accounts $864,511
    Money market deposit accounts (MMDAs) $458,741
    Other savings deposits (excluding MMDAs) $206,116
    Total time deposits $199,654
    Total time and savings deposits $864,511
    Noninterest-bearing deposits $288,485
    Interest-bearing deposits $1,355,105
    Retail deposits $1,375,340
    IRAs and Keogh plan accounts $38,594
    Brokered deposits $240,031
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,865,581
    Cash & Balances due from depository institutions $196,088
    Interest-bearing balances $186,887
    Total securities $227,900
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,339,689
    Loan and leases loss allowance $18,210
    Trading account assets $1,726
    Bank premises and fixed assets $19,843
    Other real estate owned $193
    Goodwill and other intangibles $15,088
    All other assets $65,054

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,865,581
    Total Liabilities $1,661,885
    Total deposits $1,643,590
    Interest-bearing deposits $1,355,105
    Deposits held in domestic offices $1,643,590
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,735
    Other borrowed funds $6,864
    Subordinated debt $0
    All other liabilities $9,696

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,339,689
    Loan and leases loss allowance $18,210
    Total loans and leases (domestic) $1,357,899
    All real estate loans $1,252,609
    Real estate loans in domestic offices $1,252,609
    Construction and development loans $121,006
    Residential 1-4 family construction $23,219
    Other construction, all land development and other land $97,787
    Loans secured by nonfarm nonresidential properties $343,411
    Nonfarm nonresidential secured by owner-occupied properties $126,747
    Commercial real estate & other non-farm, non-residential $216,664
    Multifamily residential real estate $126,737
    1-4 family residential loans $661,455
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $55,746
    To non-U.S. addressees $0
    Loans to individuals $11,703
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $10,321
    Other loans to individuals $1,382
    All other loans & leases $37,841
    Loans to foreign governments and official institutions $0
    Other loans $60
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $745
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,882
    Non 1-4 family restructured loans & leases $437
    Total loans and leases (foreign) $0

    ESSA Bank & Trust had $1,339,689,000 of loans outstanding in 2021. $1,252,609,000 of loans were in real estate loans. $121,006,000 of loans were in development loans. $126,737,000 of loans were in multifamily mortgage loans. $661,455,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $10,321,000 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 332 $76,378 $230,054
    Nonfarm, nonresidential loans - <$100k 72 $2,526 $35,083
    Nonfarm, nonresidential loans - $100-250k 97 $12,766 $131,608
    Nonfarm, nonresidential loans - $250k-1MM 163 $61,086 $374,761
    Commercial & Industrial, US addressed loans - <$1MM 310 $36,022 $116,200
    Commercial & Industrial, US addressed loans - <$100k 145 $3,451 $23,800
    Commercial & Industrial, US addressed loans - $100-250k 80 $9,540 $119,250
    Commercial & Industrial, US addressed loans - $250k-1MM 85 $23,031 $270,953