Hudson River Community Mortgage Rates, Fees & Info

Corinth, NY

LEI: 549300Z1CDO1XR2ZMQ19

Tax ID: 14-1407718

5 stars - Updated: 11/17/24 - out of 5 stars, based on 11 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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)

    • Review & Overview

    Hudson River Community is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Hudson River Community has a high proportion of conventional loans. Their top two markets are Glens Falls and Albany .

    Hudson River Community has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Hudson River Community 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.94% 11/17/24
    30 Year Conventional Refi 6.27% 11/17/24
    30 Year Cash-out Refi 6.72% 11/17/24
    15 Year Conventional Purchase 5.78% 11/17/24
    15 Year Conventional Refi 5.95% 11/17/24
    15 Year Cash-out Refi 5.95% 11/17/24
    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.

    Hudson River Community Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Hudson River Community. 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

    114

    Origination Dollar Volume (All Markets)

    $12,290,000

    Awards

    HUDSON RIVER COMMUNITY 30 Year Conventional Loans gold HUDSON RIVER COMMUNITY 30 Year Conventional Loans gold HUDSON RIVER COMMUNITY 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Hudson River Community's average 30 year fixed mortgage rate was 7.22%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.74%.

    Relative Fees (Closing Costs)

    Hudson River Community's average total fees/closing costs for a 30 year fixed rate mortgage were $1,946.

    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
    GLENS FALLS, NY (FHA|USDA|VA) 67 $6,675,000 $99,627 $1,272 6.92%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 46 $5,570,000 $121,087 $1,427 6.76%
    Outside of Metro Areas 1 $45,000 $45,000 $1,701 7.43%
    Hudson River Community's top markets include Glens Falls and Albany among others.

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

    • Similar Lenders

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

    Bank of Richmondville
    Similarity Rank: 32
    Saratoga National Bank and Trust Company
    Similarity Rank: 90
    Glens Falls National Bank and Trust Company
    Similarity Rank: 135
    HUDSON RIVER COMMUNITY
    Similarity Rank: 138
    FIRST NEW YORK
    Similarity Rank: 300
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 405
    HUDSON VALLEY CREDIT UNION
    Similarity Rank: 420
    TrustCo Bank
    Similarity Rank: 588
    Chemung Canal Trust Company
    Similarity Rank: 624
    SEFCU SERVICES, LLC
    Similarity Rank: 868

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $12,290,000 $107,807 $1,339 6.86%

    For 2023, Hudson River Community's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 52 $3,430,000 $65,962 $877 7.28%
    Home Purchase 24 $4,830,000 $201,250 $2,558 6.68%
    Cash Out Refi 24 $2,440,000 $101,667 $1,175 6.50%
    Refi 14 $1,590,000 $113,571 $1,237 6.20%

    For 2023, Hudson River Community's most frequently cited loan purpose was Home Improvement, with 52 originations. The 2nd most popular reason was Home Purchase, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 45 $7,775,000 $172,778 $1,946 7.22%
    10 Year 32 $2,050,000 $64,063 $843 6.34%
    15 Year 20 $1,550,000 $77,500 $1,196 6.67%
    20 Year 9 $555,000 $61,667 $864 7.54%
    5 Year 6 $240,000 $40,000 $717 6.73%
    Other 2 $120,000 $60,000 $1,351 6.10%

    For 2023, Hudson River Community's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was 10 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 110 $11,810,000 $107,364

    Hudson River Community's average total fees were $1,946, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 110 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 38 $3,950,000 $103,947
    7-8% 38 $4,360,000 $114,737
    5-6% 21 $2,665,000 $126,905
    Over 8% 12 $860,000 $71,667
    4-5% 2 $250,000 $125,000
    3-4% 2 $140,000 $70,000
    2.5-3% 1 $65,000 $65,000

    During 2023, Hudson River Community's average interest rate for loans was 7.22%, while their most frequently originated rate bucket for loans was 6-7%, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $4,410,000 $59,595 $933 6.84%
    $100k-200k 27 $4,085,000 $151,296 $1,867 7.03%
    $200k-400k 11 $2,795,000 $254,091 $2,514 6.60%
    $400k-600k 2 $1,000,000 $500,000 $2,905 6.65%

    2023 saw Hudson River Community place emphasis on $100,000 or less loans with 74 originations, totaling $4,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $3,750,000 $110,294 $1,354 6.75%
    $75k-100k 31 $2,985,000 $96,290 $1,213 7.36%
    $150k-250k 16 $2,120,000 $132,500 $1,590 7.00%
    $50k-75k 16 $1,490,000 $93,125 $1,272 6.12%
    $50k or less 12 $970,000 $80,833 $1,316 6.87%
    $250k+ 4 $840,000 $210,000 $1,858 6.44%

    Hudson River Community lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $75k-100k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $3,290,000 $117,500 $1,379 6.73%
    20-30% 24 $2,320,000 $96,667 $1,256 6.76%
    <20% 9 $865,000 $96,111 $1,591 6.91%
    43% 6 $630,000 $105,000 $1,288 6.98%
    40% 6 $520,000 $86,667 $1,150 7.05%
    41% 6 $740,000 $123,333 $1,382 6.52%
    50-60% 4 $240,000 $60,000 $896 7.26%
    37% 4 $240,000 $60,000 $872 7.34%
    38% 4 $700,000 $175,000 $2,013 7.48%
    42% 4 $320,000 $80,000 $988 6.35%
    45% 4 $260,000 $65,000 $1,363 7.11%
    46% 3 $115,000 $38,333 $460 7.25%
    39% 3 $705,000 $235,000 $1,292 7.17%
    44% 2 $230,000 $115,000 $1,224 6.25%
    47% 2 $230,000 $115,000 $1,792 6.98%
    36% 2 $240,000 $120,000 $2,004 7.50%
    49% 1 $205,000 $205,000 $2,696 6.85%
    48% 1 $245,000 $245,000 $2,648 7.00%

    Hudson River Community lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 109 $11,675,000 $107,110 $1,344 6.85%
    American Indian 2 $240,000 $120,000 $1,142 7.33%
    Asian 1 $225,000 $225,000 $2,265 6.70%
    Not provided 2 $150,000 $75,000 $731 6.70%

    Approval Rates

    Total approvals of all applications
    63.40%

    Hudson River Community has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    24.56%

    Hudson River Community 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
    389.0 1 $155,000 $155,000
    NA 113 $12,135,000 $107,389

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $12,290,000 $107,807

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $2,380,000 $70,000 $991 6.92%
    40-60% 18 $2,030,000 $112,778 $1,576 6.51%
    60-80% 15 $3,035,000 $202,333 $2,022 6.96%
    80-100% 14 $3,060,000 $218,571 $2,443 6.87%
    Under 20% 32 $1,590,000 $49,688 $737 6.99%