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, New York, Oneonta, Rochester, and East Stroudsburg among others. We have data for 22 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 relatively high 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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Originations
464Origination Dollar Volume (All Markets)
$82,920,000Awards
Wayne Bank - 2023
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For 2023, 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
6.51%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.03%.
Relative Fees (Closing Costs)
Wayne Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,405.
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 $9,089.
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 | 218 | $38,100,000 | $174,771 | $2,715 | 6.70% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 73 | $12,485,000 | $171,027 | $2,235 | 7.45% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 46 | $7,280,000 | $158,261 | $2,243 | 6.69% |
| Oneonta, NY (FHA|USDA|VA) | 30 | $6,970,000 | $232,333 | $4,009 | 7.27% |
| ROCHESTER, NY (FHA|USDA|VA) | 35 | $5,145,000 | $147,000 | $2,374 | 6.99% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 18 | $2,340,000 | $130,000 | $1,022 | 7.04% |
| DuBois, PA (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $0 | 7.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $3,374 | 7.05% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $0 | 8.45% |
| Seneca Falls, NY (FHA|USDA|VA) | 9 | $1,055,000 | $117,222 | $3,911 | 7.03% |
| Corning, NY (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $4,556 | 5.56% |
| SYRACUSE, NY (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $0 | 8.61% |
| BINGHAMTON, NY (FHA|USDA|VA) | 6 | $640,000 | $106,667 | $2,497 | 7.79% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $7,379 | 5.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 6 | $560,000 | $93,333 | $1,952 | 6.62% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 7.50% |
| UTICA-ROME, NY (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $2,908 | 7.17% |
| Somerset, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.75% |
| Auburn, NY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.75% |
| Lewistown, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.75% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Sayre, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 388 | $75,520,000 | $194,639 | $2,626 | 6.94% |
| Conventional | 76 | $7,400,000 | $97,368 | $0 | 0.00% |
For 2023, Wayne Bank's most frequently originated type of loan was Conventional, with 388 originations. Their 2nd most popular type was Conventional, with 76 originations.
Loan Reason
For 2023, Wayne Bank's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Home Improvement, with 145 originations.
Loan Duration/Length
For 2023, Wayne Bank's most frequently cited loan duration was 15 Year, with 101 originations. The 2nd most popular length was Other, with 96 originations.
Origination Fees/Closing Costs
Wayne Bank's average total fees were $4,405, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 161 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 176 | $36,240,000 | $205,909 |
| 5-6% | 74 | $11,920,000 | $161,081 |
| Over 8% | 69 | $11,455,000 | $166,014 |
| 7-8% | 64 | $14,190,000 | $221,719 |
| 4-5% | 5 | $1,715,000 | $343,000 |
During 2023, Wayne Bank's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 6-7%, with 176 originations.
Loan Sizing
2023 saw Wayne Bank place emphasis on $100,000 or less loans with 178 originations, totaling $10,160,000 in origination value.
Applicant Income
Wayne Bank lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $50k-75k, with 77 originations.
Applicant Debt to Income Ratio
Wayne Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations. The next most common DTI ratio? 20-30%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.38%
Wayne Bank has a below average approval rate.
Pick Rate
Approvals leading to origination76.08%
Wayne Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 76 | $7,400,000 | $97,368 |
| NA | 388 | $75,520,000 | $194,639 |