Connectone Bank Mortgage Rates, Fees & Info

Englewood Cliffs, NJ

LEI: 549300X03SL4SM0F3U87

Tax ID: 20-1172127

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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, Hartford, Orlando, Philadelphia, and Key West among others. We have data for 9 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

53

Origination Dollar Volume (All Markets)

$54,765,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 44 $31,850,000 $723,864 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $17,405,000 $17,405,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $1,410,000 $705,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Connectone Bank's top markets include New York, Hartford, Orlando, Philadelphia, and Key West among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $54,765,000 $1,033,302 $0 0.00%

    For 2023, Connectone Bank's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $18,095,000 $623,966 $0 0.00%
    Cash Out Refi 7 $5,275,000 $753,571 $0 0.00%
    Other 6 $1,480,000 $246,667 $0 0.00%
    Refi 6 $25,670,000 $4,278,333 $0 0.00%
    Home Improvement 5 $4,245,000 $849,000 $0 0.00%

    For 2023, Connectone Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 53 $54,765,000 $1,033,302 $0 0.00%

    For 2023, Connectone Bank's most frequently cited loan duration was Other, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14 $3,980,000 $284,286 $0 0.00%
    $1MM+ 12 $36,620,000 $3,051,667 $0 0.00%
    $600k-1MM 12 $9,120,000 $760,000 $0 0.00%
    $400k-600k 9 $4,535,000 $503,889 $0 0.00%
    $100,000 or less 3 $145,000 $48,333 $0 0.00%
    $100k-200k 3 $365,000 $121,667 $0 0.00%

    2023 saw Connectone Bank place emphasis on $200k-400k loans with 14 originations, totaling $3,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 12 $11,160,000 $930,000 $0 0.00%
    $150k-250k 11 $5,195,000 $472,273 $0 0.00%
    $75k-100k 4 $400,000 $100,000 $0 0.00%
    $100k-150k 2 $110,000 $55,000 $0 0.00%

    Connectone Bank lent most frequently to those with incomes in the $250k+ range, with 12 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 53 $54,765,000 $1,033,302 $0 0.00%

    Connectone Bank lent most frequently to those with DTI ratios of Exempt%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $37,900,000 $1,579,167 $0 0.00%
    White 20 $11,940,000 $597,000 $0 0.00%
    Not provided 7 $4,495,000 $642,143 $0 0.00%
    Asian 1 $305,000 $305,000 $0 0.00%
    Black 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.79%

    Connectone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.58%

    Connectone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 53 $54,765,000 $1,033,302

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    53 $54,765,000 $1,033,302