Connectone Bank Mortgage Rates, Fees & Info
Englewood Cliffs, NJLEI: 549300X03SL4SM0F3U87
Tax ID: 20-1172127
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Connectone Bank is a smaller bank specializing in Home Purchase and Refi loans. Connectone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Bridgeport, and Lexington among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Connectone Bank 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.
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Originations
346Origination Dollar Volume (All Markets)
$775,420,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 294 | $630,310,000 | $2,143,912 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $61,330,000 | $3,833,125 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $19,205,000 | $1,745,909 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $15,005,000 | $5,001,667 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $9,785,000 | $9,785,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $7,765,000 | $2,588,333 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $7,685,000 | $2,561,667 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $6,605,000 | $6,605,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $4,440,000 | $2,220,000 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 3 | $3,975,000 | $1,325,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $2,475,000 | $2,475,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 2 | $1,850,000 | $925,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 346 | $775,420,000 | $2,241,098 | $0 | 0.00% |
For 2022, Connectone Bank's most frequently originated type of loan was Conventional, with 346 originations.
Loan Reason
For 2022, Connectone Bank's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Refi, with 132 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 346 | $775,420,000 | $2,241,098 | $0 | 0.00% |
For 2022, Connectone Bank's most frequently cited loan duration was Other, with 346 originations.
Loan Sizing
2022 saw Connectone Bank place emphasis on $1MM+ loans with 204 originations, totaling $696,520,000 in origination value.
Applicant Income
Connectone Bank lent most frequently to those with incomes in the $250k+ range, with 36 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 346 | $775,420,000 | $2,241,098 | $0 | 0.00% |
Connectone Bank lent most frequently to those with DTI ratios of Exempt%, with 346 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.07%
Connectone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.24%
Connectone Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 346 | $775,420,000 | $2,241,098 |