Wayne Bank Mortgage Rates, Fees & Info
Honesdale, PALEI: 549300XZGHPTWOJPDI31
Tax ID: 24-0754330
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Mortgage Data
Review & Overview
Wayne Bank is a smaller bank specializing in Home Purchase loans. Wayne Bank has a high proportion of conventional loans. Wayne Bank has an average proportion of conventional loans. Their top markets by origination volume include: Scranton, Syracuse, New York, Oneonta, and Rochester among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Wayne Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Wayne Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 4/5/25 |
| 30 Year Conventional Refi | 6.88% | 4/5/25 |
| 30 Year Cash-out Refi | 6.43% | 4/5/25 |
| 15 Year Conventional Purchase | 6.30% | 4/5/25 |
| 15 Year Conventional Refi | 7.60% | 4/5/25 |
| 15 Year Cash-out Refi | 7.60% | 4/5/25 |
| 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. | ||
Wayne Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Wayne Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
448Origination Dollar Volume (All Markets)
$104,190,000Awards
Wayne Bank - 2024
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For 2024, less than of lenders were eligible for this award.
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Relative Rate
Wayne Bank's average 30 year fixed mortgage rate was
6.42%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Wayne Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,526.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 221 | $40,325,000 | $182,466 | $2,710 | 7.05% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 62 | $20,910,000 | $337,258 | $3,725 | 7.14% |
| SYRACUSE, NY (FHA|USDA|VA) | 5 | $12,235,000 | $2,447,000 | $0 | 8.51% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 60 | $11,570,000 | $192,833 | $2,423 | 6.70% |
| Oneonta, NY (FHA|USDA|VA) | 24 | $4,160,000 | $173,333 | $3,129 | 7.45% |
| ROCHESTER, NY (FHA|USDA|VA) | 23 | $4,085,000 | $177,609 | $3,201 | 7.05% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 18 | $2,670,000 | $148,333 | $1,445 | 6.70% |
| Seneca Falls, NY (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $1,543 | 7.40% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 11 | $1,585,000 | $144,091 | $2,410 | 6.97% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $1,180,000 | $590,000 | $4,896 | 6.44% |
| Somerset, PA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 8.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $7,332 | 7.19% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $2,654 | 7.38% |
| BINGHAMTON, NY (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $4,052 | 6.25% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 8.75% |
| Corning, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,660 | 6.88% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,790 | 6.88% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 7.00% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 7.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 369 | $95,055,000 | $257,602 | $2,779 | 7.05% |
| Conventional | 79 | $9,135,000 | $115,633 | $0 | 0.00% |
For 2024, Wayne Bank's most frequently originated type of loan was Conventional, with 369 originations. Their 2nd most popular type was Conventional, with 79 originations.
Loan Reason
For 2024, Wayne Bank's most frequently cited loan purpose was Home Purchase, with 209 originations. The 2nd most popular reason was Home Improvement, with 127 originations.
Loan Duration/Length
For 2024, Wayne Bank's most frequently cited loan duration was Other, with 104 originations. The 2nd most popular length was 15 Year, with 93 originations.
Origination Fees/Closing Costs
Wayne Bank's average total fees were $4,526, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 169 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 190 | $41,650,000 | $219,211 |
| Over 8% | 69 | $27,405,000 | $397,174 |
| 7-8% | 64 | $12,990,000 | $202,969 |
| 5-6% | 46 | $13,010,000 | $282,826 |
During 2024, Wayne Bank's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 190 originations.
Loan Sizing
2024 saw Wayne Bank place emphasis on $100,000 or less loans with 156 originations, totaling $8,140,000 in origination value.
Applicant Income
Wayne Bank lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $150k-250k, with 83 originations.
Applicant Debt to Income Ratio
Wayne Bank lent most frequently to those with DTI ratios of Exempt%, with 79 originations. The next most common DTI ratio? 20-30%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.91%
Wayne Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.46%
Wayne Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 79 | $9,135,000 | $115,633 |
| NA | 369 | $95,055,000 | $257,602 |