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

Syracuse, NY

LEI: 549300XZF8VZFNRNBW38

Tax ID: 15-0523515

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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, Utica, Auburn, Rochester, and Watertown among others. We have data for 8 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 a below 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% 3/28/24
30 Year Conventional Purchase 6.46% 3/28/24
30 Year Conventional Refi 6.06% 3/28/24
30 Year Cash-out Refi 6.48% 3/28/24
15 Year Conventional Purchase 5.64% 3/28/24
15 Year Conventional Refi 5.90% 3/28/24
15 Year Cash-out Refi 5.90% 3/28/24
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

486

Origination Dollar Volume (All Markets)

$95,590,000

Employee count

41

Awards

Geddes Federal Savings and Loan Association 30 Year Conventional Loans bronze
Show all (1) 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) 434 $83,970,000 $193,479 $3,309 3.01%
UTICA-ROME, NY (FHA|USDA|VA) 30 $5,380,000 $179,333 $3,368 2.93%
Auburn, NY (FHA|USDA|VA) 12 $2,340,000 $195,000 $3,243 3.05%
ROCHESTER, NY (FHA|USDA|VA) 1 $1,935,000 $1,935,000 $8,754 3.63%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $670,000 $335,000 $3,828 3.19%
Cortland, NY (FHA|USDA|VA) 4 $610,000 $152,500 $3,610 3.41%
ITHACA, NY (FHA|USDA|VA) 2 $530,000 $265,000 $4,251 2.75%
Seneca Falls, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,888 3.50%
Geddes Federal Savings And Loan Association's top markets include Syracuse, Utica, Auburn, Rochester, and Watertown among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 441 $91,605,000 $207,721 $3,333 2.89%
    HELOC 45 $3,985,000 $88,556 n/a 4.23%

    For 2021, Geddes Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 441 originations. Their 2nd most popular type was HELOC, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 198 $48,310,000 $243,990 $3,736 2.89%
    Home Improvement 99 $15,115,000 $152,677 $2,901 3.30%
    Refi 82 $13,180,000 $160,732 $3,007 2.72%
    Cash Out Refi 69 $14,755,000 $213,841 $3,150 2.91%
    Other 38 $4,230,000 $111,316 $2,897 3.71%

    For 2021, Geddes Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Home Improvement, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 171 $33,685,000 $196,988 $3,491 3.25%
    15 Year 114 $17,780,000 $155,965 $3,201 2.68%
    30 Year 104 $25,530,000 $245,481 $3,455 3.02%
    20 Year 77 $14,365,000 $186,558 $3,129 3.05%
    10 Year 13 $1,225,000 $94,231 $2,286 2.98%
    30+ year 5 $2,915,000 $583,000 $5,107 2.00%
    5 Year 2 $90,000 $45,000 $2,749 2.75%

    For 2021, Geddes Federal Savings And Loan Association's most frequently cited loan duration was Other, with 171 originations. The 2nd most popular length was 15 Year, with 114 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 376 $74,130,000 $197,154
    $1k-2k 43 $11,405,000 $265,233
    $2k-3k 10 $2,460,000 $246,000
    $4k-5k 4 $1,230,000 $307,500
    $3k-4k 3 $795,000 $265,000
    $5k+ 2 $1,150,000 $575,000

    Geddes Federal Savings And Loan Association's average total fees were $3,455, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 376 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 200 $42,790,000 $213,950
    <2.5% 123 $28,095,000 $228,415
    3-4% 106 $19,340,000 $182,453
    4-5% 55 $5,255,000 $95,545
    5-6% 2 $110,000 $55,000

    During 2021, Geddes Federal Savings And Loan Association's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 214 $30,380,000 $141,963 $3,082 2.97%
    $200k-400k 130 $34,470,000 $265,154 $3,498 2.83%
    $100,000 or less 108 $7,080,000 $65,556 $2,735 3.44%
    $400k-600k 22 $10,610,000 $482,273 $4,976 2.57%
    $1MM+ 7 $9,265,000 $1,323,571 $7,935 2.59%
    $600k-1MM 5 $3,785,000 $757,000 $4,756 2.88%

    2021 saw Geddes Federal Savings And Loan Association place emphasis on $100k-200k loans with 214 originations, totaling $30,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 108 $13,800,000 $127,778 $3,017 3.00%
    $100k-150k 107 $18,815,000 $175,841 $3,264 3.09%
    $150k-250k 107 $27,325,000 $255,374 $3,704 3.00%
    $250k+ 58 $22,000,000 $379,310 $3,892 2.87%
    $75k-100k 57 $8,545,000 $149,912 $3,090 3.03%
    $50k or less 48 $4,590,000 $95,625 $2,992 3.10%

    Geddes Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $100k-150k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 144 $25,650,000 $178,125 $3,313 3.07%
    <20% 99 $23,055,000 $232,879 $3,326 2.85%
    30-36% 94 $14,980,000 $159,362 $3,071 3.02%
    36% 19 $4,325,000 $227,632 $3,694 3.05%
    39% 15 $2,135,000 $142,333 $3,041 3.47%
    41% 14 $1,860,000 $132,857 $2,971 3.33%
    38% 14 $2,400,000 $171,429 $3,334 2.97%
    50-60% 13 $3,045,000 $234,231 $3,784 3.11%
    >60% 11 $6,025,000 $547,727 $4,713 2.45%
    43% 11 $3,015,000 $274,091 $3,460 2.98%
    37% 9 $1,455,000 $161,667 $3,362 2.99%
    42% 8 $1,280,000 $160,000 $3,127 2.83%
    40% 8 $900,000 $112,500 $3,002 3.55%
    44% 6 $920,000 $153,333 $2,950 3.17%
    47% 5 $695,000 $139,000 $2,938 2.68%
    46% 4 $830,000 $207,500 $3,186 3.56%
    49% 4 $900,000 $225,000 $4,021 2.78%
    45% 4 $760,000 $190,000 $3,963 3.22%
    48% 3 $845,000 $281,667 $5,300 2.54%

    Geddes Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? <20%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 439 $86,195,000 $196,344 $3,335 3.01%
    Not provided 30 $5,810,000 $193,667 $3,084 3.18%
    Asian 10 $2,630,000 $263,000 $3,836 2.64%
    Black 4 $500,000 $125,000 $3,786 3.41%
    Asian Indian 1 $325,000 $325,000 $3,422 2.25%
    American Indian 2 $130,000 $65,000 $2,636 2.50%

    Approval Rates

    Total approvals of all applications
    94.25%

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

    Pick Rate

    Approvals leading to origination
    88.89%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 486 $95,590,000 $196,687

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    486 $95,590,000 $196,687

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $4,460,000 $89,200 $2,649 3.52%
    40-60% 75 $13,385,000 $178,467 $3,201 2.73%
    60-80% 214 $44,890,000 $209,766 $3,342 2.89%
    80-100% 126 $31,890,000 $253,095 $3,576 3.03%
    Under 20% 20 $920,000 $46,000 $2,886 3.98%

    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 $433,932

    For 2021, Geddes Federal Savings And Loan Association had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,133
    Net interest income $11,256
    Total noninterest income $101
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $7
    Trading account gains and fees $0
    Additional Noninterest Income $94
    Pre-tax net operating income $2,737
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,159
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,159
    Minority interest net income $0
    Net income $2,159
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,159

    Geddes Federal Savings And Loan Association's gross interest income from loans was $18,133,000.
    Geddes Federal Savings And Loan Association's net interest income from loans was $11,256,000.
    Geddes Federal Savings And Loan Association's fee based income from loans was $7,000.
    Geddes Federal Savings And Loan Association's net income from loans was $2,159,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,877
    Provision for credit losses $101
    Total noninterest expense $8,519
    Salaries and employee benefits $4,131
    Premises and equipment expense $670
    Additional noninterest expense $3,718
    Applicable income taxes $578
    Net charge-offs $3
    Cash dividends $0

    Geddes Federal Savings And Loan Association's interest expense for loans was $6,877,000.
    Geddes Federal Savings And Loan Association's payroll and benefits expense were $4,131,000.
    Geddes Federal Savings And Loan Association's property, plant and equipment expenses $670,000.

    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 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 0.0%
    Other consumer loans 3.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $438,374
    Deposits held in domestic offices $438,374
    Deposits by Individuals, partnerships, and corporations $433,933
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38
    Deposits by Commercial banks and other depository institutions in U.S. $4,403
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $40,412
    Demand deposits $16,938
    Nontransaction accounts $397,962
    Money market deposit accounts (MMDAs) $110,120
    Other savings deposits (excluding MMDAs) $31,090
    Total time deposits $256,752
    Total time and savings deposits $421,436
    Noninterest-bearing deposits $16,938
    Interest-bearing deposits $421,436
    Retail deposits $366,078
    IRAs and Keogh plan accounts $85,293
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $601,636
    Cash & Balances due from depository institutions $33,152
    Interest-bearing balances $11,641
    Total securities $62,421
    Federal funds sold & reverse repurchase $10,040
    Net loans and leases $485,838
    Loan and leases loss allowance $669
    Trading account assets $0
    Bank premises and fixed assets $776
    Other real estate owned $260
    Goodwill and other intangibles $0
    All other assets $9,149

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $601,636
    Total Liabilities $506,608
    Total deposits $438,374
    Interest-bearing deposits $421,436
    Deposits held in domestic offices $438,374
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $67,500
    Subordinated debt $0
    All other liabilities $734

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $485,838
    Loan and leases loss allowance $669
    Total loans and leases (domestic) $486,507
    All real estate loans $477,599
    Real estate loans in domestic offices $477,599
    Construction and development loans $3,677
    Residential 1-4 family construction $3,677
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $315
    Nonfarm nonresidential secured by owner-occupied properties $133
    Commercial real estate & other non-farm, non-residential $182
    Multifamily residential real estate $1,734
    1-4 family residential loans $471,873
    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 $466
    Credit card loans $0
    Related Plans $20
    Consumer Auto Loans $1
    Other loans to individuals $445
    All other loans & leases $8,442
    Loans to foreign governments and official institutions $0
    Other loans $8,442
    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 $193
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Geddes Federal Savings and Loan Association had $485,838,000 of loans outstanding in 2021. $477,599,000 of loans were in real estate loans. $3,677,000 of loans were in development loans. $1,734,000 of loans were in multifamily mortgage loans. $471,873,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,000 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 $315 $78,750
    Nonfarm, nonresidential loans - <$100k 1 $50 $50,000
    Nonfarm, nonresidential loans - $100-250k 3 $265 $88,333