Geddes Federal Savings And Loan Association Mortgage Rates, Fees & Info

Syracuse, NY

LEI: 549300XZF8VZFNRNBW38

Tax ID: 15-0523515

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

    Geddes Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase loans. Geddes Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Auburn, Utica, Cortland, and Watertown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Geddes Federal Savings And Loan Association 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. Geddes Federal Savings And Loan Association 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) 6.27% 12/16/24
    30 Year Conventional Purchase 6.46% 12/16/24
    30 Year Conventional Refi 6.06% 12/16/24
    30 Year Cash-out Refi 6.48% 12/16/24
    15 Year Conventional Purchase 5.64% 12/16/24
    15 Year Conventional Refi 5.90% 12/16/24
    15 Year Cash-out Refi 5.90% 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.

    Geddes Federal Savings And Loan Association Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Geddes Federal Savings And Loan Association. 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

    454

    Origination Dollar Volume (All Markets)

    $71,760,000

    Employee count

    40

    Awards

    Geddes Federal Savings and Loan Association 30 Year Conventional Loans bronze Geddes Federal Savings and Loan Association 30 Year Conventional Loans gold Geddes Federal Savings and Loan Association 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
    SYRACUSE, NY (FHA|USDA|VA) 424 $67,070,000 $158,184 $2,536 4.25%
    Auburn, NY (FHA|USDA|VA) 17 $2,965,000 $174,412 $2,802 4.04%
    UTICA-ROME, NY (FHA|USDA|VA) 9 $1,095,000 $121,667 $2,788 3.79%
    Cortland, NY (FHA|USDA|VA) 3 $395,000 $131,667 $3,156 4.33%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $235,000 $235,000 $2,570 3.88%
    Geddes Federal Savings And Loan Association's top markets include Syracuse, Auburn, Utica, Cortland, and Watertown among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Geddes Federal Savings and Loan Association based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SECNY Federal Credit Union
    Similarity Rank: 44
    VISIONS
    Similarity Rank: 50
    Geddes Federal Savings and Loan Association
    Similarity Rank: 60
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 84
    Adirondack Bank
    Similarity Rank: 126
    CCFCU FUNDING, LLC
    Similarity Rank: 260
    The Lyons National Bank
    Similarity Rank: 800
    SEFCU SERVICES, LLC
    Similarity Rank: 888
    Empower Federal Credit Union
    Similarity Rank: 960
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 1302

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 428 $69,340,000 $162,009 $2,556 4.15%
    HELOC 26 $2,420,000 $93,077 n/a 5.57%

    For 2018, Geddes Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 428 originations. Their 2nd most popular type was HELOC, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 297 $53,525,000 $180,219 $2,893 4.14%
    Home Improvement 70 $6,640,000 $94,857 $1,339 4.59%
    Cash Out Refi 59 $7,435,000 $126,017 $1,923 4.39%
    Refi 26 $3,950,000 $151,923 $2,511 3.92%
    Other 2 $210,000 $105,000 $227 5.63%

    For 2018, Geddes Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 297 originations. The 2nd most popular reason was Home Improvement, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 185 $34,835,000 $188,297 $2,935 4.31%
    15 Year 116 $18,200,000 $156,897 $2,525 3.91%
    Other 61 $7,705,000 $126,311 $2,207 4.33%
    20 Year 55 $7,955,000 $144,636 $2,598 4.72%
    10 Year 33 $3,005,000 $91,061 $1,209 3.93%
    5 Year 4 $60,000 $15,000 $131 4.25%

    For 2018, Geddes Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 185 originations. The 2nd most popular length was 15 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 311 $53,925,000 $173,392
    $1k-2k 36 $3,670,000 $101,944
    $2k-3k 7 $1,095,000 $156,429
    $5k+ 4 $2,080,000 $520,000
    $3k-4k 2 $380,000 $190,000

    Geddes Federal Savings And Loan Association's average total fees were $2,935, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 311 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 213 $38,805,000 $182,183
    4-5% 178 $25,880,000 $145,393
    5-6% 39 $4,175,000 $107,051
    2.5-3% 15 $2,145,000 $143,000
    6-7% 8 $730,000 $91,250
    7-8% 1 $25,000 $25,000

    During 2018, Geddes Federal Savings And Loan Association's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 3-4%, with 213 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 186 $26,860,000 $144,409 $2,611 4.10%
    $100,000 or less 152 $9,470,000 $62,303 $1,434 4.50%
    $200k-400k 98 $25,750,000 $262,755 $3,409 4.09%
    $400k-600k 13 $5,995,000 $461,154 $4,153 4.29%
    $600k-1MM 5 $3,685,000 $737,000 $8,943 3.63%

    2018 saw Geddes Federal Savings And Loan Association place emphasis on $100k-200k loans with 186 originations, totaling $26,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 106 $16,580,000 $156,415 $2,608 4.20%
    $50k-75k 99 $10,375,000 $104,798 $2,104 4.22%
    $75k-100k 80 $10,960,000 $137,000 $2,580 4.15%
    $150k-250k 63 $11,965,000 $189,921 $2,606 4.17%
    $250k+ 56 $18,100,000 $323,214 $3,965 4.31%
    $50k or less 47 $3,595,000 $76,489 $1,842 4.40%

    Geddes Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 106 originations. The second most popular income band? $50k-75k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 151 $23,565,000 $156,060 $2,602 4.13%
    30-36% 89 $15,645,000 $175,787 $2,731 4.22%
    <20% 77 $13,635,000 $177,078 $2,531 4.39%
    36% 22 $3,640,000 $165,455 $2,486 4.16%
    38% 20 $3,000,000 $150,000 $2,413 4.39%
    40% 17 $2,535,000 $149,118 $2,869 4.26%
    37% 16 $2,290,000 $143,125 $2,650 4.13%
    42% 12 $930,000 $77,500 $1,587 4.31%
    39% 11 $1,245,000 $113,182 $1,689 4.57%
    41% 9 $1,425,000 $158,333 $2,240 3.86%
    50-60% 7 $1,385,000 $197,857 $3,550 3.80%
    43% 5 $565,000 $113,000 $2,240 4.85%
    44% 5 $555,000 $111,000 $2,985 3.78%
    45% 3 $265,000 $88,333 $1,610 3.46%
    >60% 2 $210,000 $105,000 $1,647 3.69%
    46% 2 $340,000 $170,000 $2,754 4.06%
    49% 2 $100,000 $50,000 $1,616 5.94%
    48% 1 $265,000 $265,000 $3,211 6.88%
    47% 1 $25,000 $25,000 $192 4.25%

    Geddes Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 151 originations. The next most common DTI ratio? 30-36%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 399 $63,385,000 $158,860 $2,550 4.21%
    Not provided 23 $3,735,000 $162,391 $2,301 4.17%
    Asian 13 $2,125,000 $163,462 $3,037 4.10%
    Not applicable 11 $1,215,000 $110,455 $0 5.24%
    Asian Indian 3 $585,000 $195,000 $2,918 4.54%
    Chinese 1 $305,000 $305,000 $4,263 3.50%
    American Indian 3 $245,000 $81,667 $2,677 4.75%
    Black 1 $165,000 $165,000 $1,987 3.50%

    Approval Rates

    Total approvals of all applications
    97.18%

    Geddes Federal Savings And Loan Association has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.63%

    Geddes Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 454 $71,760,000 $158,062

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $235,000 $78,333
    Single Family (1-4 Units):Site-Built 451 $71,525,000 $158,592

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 57 $4,165,000 $73,070 $1,448 4.47%
    40-60% 61 $8,285,000 $135,820 $2,387 3.97%
    60-80% 181 $34,735,000 $191,906 $2,892 4.17%
    80-100% 119 $22,565,000 $189,622 $2,918 4.22%
    Under 20% 29 $1,575,000 $54,310 $766 4.59%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Geddes Federal Savings and Loan Association 2208 West Genesee St Syracuse, NY 13219 Full Service B&M $419,121

    For 2018, Geddes Federal Savings And Loan Association had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,653
    Net interest income $12,076
    Total noninterest income $80
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $18
    Trading account gains and fees $0
    Additional Noninterest Income $62
    Pre-tax net operating income $4,082
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,259
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,259
    Minority interest net income $0
    Net income $3,259
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,259

    Geddes Federal Savings And Loan Association's gross interest income from loans was $18,653,000.
    Geddes Federal Savings And Loan Association's net interest income from loans was $12,076,000.
    Geddes Federal Savings And Loan Association's fee based income from loans was $18,000.
    Geddes Federal Savings And Loan Association's net income from loans was $3,259,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,577
    Provision for credit losses $-2
    Total noninterest expense $8,076
    Salaries and employee benefits $3,783
    Premises and equipment expense $617
    Additional noninterest expense $3,676
    Applicable income taxes $823
    Net charge-offs $-161
    Cash dividends $0

    Geddes Federal Savings And Loan Association's interest expense for loans was $6,577,000.
    Geddes Federal Savings And Loan Association's payroll and benefits expense were $3,783,000.
    Geddes Federal Savings And Loan Association's property, plant and equipment expenses $617,000.

    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 0.0%
    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 $409,371
    Deposits held in domestic offices $409,371
    Deposits by Individuals, partnerships, and corporations $409,371
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $30,118
    Demand deposits $7,051
    Nontransaction accounts $379,253
    Money market deposit accounts (MMDAs) $82,484
    Other savings deposits (excluding MMDAs) $28,576
    Total time deposits $268,193
    Total time and savings deposits $402,320
    Noninterest-bearing deposits $12,456
    Interest-bearing deposits $396,915
    Retail deposits $342,772
    IRAs and Keogh plan accounts $90,517
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $537,989
    Cash & Balances due from depository institutions $23,982
    Interest-bearing balances $3,732
    Total securities $4,641
    Federal funds sold & reverse repurchase $0
    Net loans and leases $503,809
    Loan and leases loss allowance $425
    Trading account assets $0
    Bank premises and fixed assets $959
    Other real estate owned $721
    Goodwill and other intangibles $0
    All other assets $3,877

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $537,989
    Total Liabilities $449,782
    Total deposits $409,371
    Interest-bearing deposits $396,915
    Deposits held in domestic offices $409,371
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $40,000
    Subordinated debt $0
    All other liabilities $411

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $503,809
    Loan and leases loss allowance $425
    Total loans and leases (domestic) $504,234
    All real estate loans $501,526
    Real estate loans in domestic offices $501,526
    Construction and development loans $1,948
    Residential 1-4 family construction $1,893
    Other construction, all land development and other land $55
    Loans secured by nonfarm nonresidential properties $232
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $232
    Multifamily residential real estate $1,607
    1-4 family residential loans $497,739
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $449
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $29
    Other loans to individuals $420
    All other loans & leases $2,259
    Loans to foreign governments and official institutions $0
    Other loans $2,259
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $398
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Geddes Federal Savings and Loan Association had $503,809,000 of loans outstanding in 2018. $501,526,000 of loans were in real estate loans. $1,948,000 of loans were in development loans. $1,607,000 of loans were in multifamily mortgage loans. $497,739,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $29,000 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 4 $232 $58,000
    Nonfarm, nonresidential loans - <$100k 2 $66 $33,000
    Nonfarm, nonresidential loans - $100-250k 2 $166 $83,000