Abacus Federal Savings Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 549300YOGGZET04TZM44

Tax ID: 13-3234580

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Abacus Federal Savings Bank is a smaller bank specializing in Home Purchase loans. Abacus Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, and Bridgeport among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Abacus Federal Savings 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.

    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

    96

    Origination Dollar Volume (All Markets)

    $39,020,000

    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) 93 $38,145,000 $410,161 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Abacus Federal Savings Bank's top markets include New York, Philadelphia, and Bridgeport among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $39,020,000 $406,458 $0 0.00%

    For 2023, Abacus Federal Savings Bank's most frequently originated type of loan was Conventional, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 86 $35,800,000 $416,279 $0 0.00%
    Refi 7 $1,755,000 $250,714 $0 0.00%
    Cash Out Refi 3 $1,465,000 $488,333 $0 0.00%

    For 2023, Abacus Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 96 $39,020,000 $406,458 $0 0.00%

    For 2023, Abacus Federal Savings Bank's most frequently cited loan duration was Other, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 44 $14,000,000 $318,182 $0 0.00%
    $400k-600k 32 $14,860,000 $464,375 $0 0.00%
    $600k-1MM 13 $9,095,000 $699,615 $0 0.00%
    $100k-200k 7 $1,065,000 $152,143 $0 0.00%

    2023 saw Abacus Federal Savings Bank place emphasis on $200k-400k loans with 44 originations, totaling $14,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 36 $16,890,000 $469,167 $0 0.00%
    $50k-75k 26 $7,280,000 $280,000 $0 0.00%
    $75k-100k 20 $7,930,000 $396,500 $0 0.00%
    $150k-250k 8 $4,430,000 $553,750 $0 0.00%
    $50k or less 4 $1,070,000 $267,500 $0 0.00%
    $250k+ 2 $1,420,000 $710,000 $0 0.00%

    Abacus Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $50k-75k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 96 $39,020,000 $406,458 $0 0.00%

    Abacus Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 95 $38,875,000 $409,211 $0 0.00%
    Not provided 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.38%

    Abacus Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.71%

    Abacus Federal Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 96 $39,020,000 $406,458

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    96 $39,020,000 $406,458