Spencer Savings Bank Sla Mortgage Rates, Fees & InfoElmwood Park, NJ
Tax ID: 22-1296609
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSpencer Savings Bank Sla is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Spencer Savings Bank Sla has a high proportion of conventional loans. Their top markets by origination volume include: New York, Trenton, Philadelphia, Atlantic City, and Kingston among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
Spencer Savings Bank Sla 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.
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Origination Dollar Volume (All Markets)$445,215,000
Spencer Savings Bank SLA - 2022
Spencer Savings Bank SLA is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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)||426||$424,950,000||$997,535||$0||0.00%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||23||$8,355,000||$363,261||$0||0.00%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||10||$8,280,000||$828,000||$0||0.00%|
|ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)||2||$1,430,000||$715,000||$0||0.00%|
|KINGSTON, NY (FHA|USDA|VA)||1||$1,175,000||$1,175,000||$0||0.00%|
|ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)||5||$735,000||$147,000||$0||0.00%|
|OCEAN CITY, NJ (FHA|USDA|VA)||3||$215,000||$71,667||$0||0.00%|
|VINELAND-BRIDGETON, NJ (FHA|USDA|VA)||1||$75,000||$75,000||$0||0.00%|
We use machine learning to identify the top lenders compared against Spencer Savings Bank SLA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Spencer Savings Bank Sla's most frequently originated type of loan was Conventional, with 471 originations.
For 2022, Spencer Savings Bank Sla's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 132 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Spencer Savings Bank Sla's most frequently cited loan duration was Other, with 471 originations.
2022 saw Spencer Savings Bank Sla place emphasis on $200k-400k loans with 122 originations, totaling $35,740,000 in origination value.
Spencer Savings Bank Sla lent most frequently to those with incomes in the $150k-250k range, with 111 originations. The second most popular income band? $100k-150k, with 71 originations.
Applicant Debt to Income Ratio
|DTI Ratio||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Spencer Savings Bank Sla lent most frequently to those with DTI ratios of Exempt%, with 471 originations.
Approval RatesTotal approvals of all applications
Spencer Savings Bank Sla has an average approval rate.
Pick RateApprovals leading to origination
Spencer Savings Bank Sla has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|SFMC L.P.||Conventional home mortgage||Closing on a mortgage||1||100.0%|