Lafayette Ambassador Bank Mortgage Rates, Fees & Info
East Petersburg, PALEI: J26ETGOCF82NJ2H0D828
Tax ID: 24-0638040
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Mortgage Data
Review & Overview
Lafayette Ambassador Bank is a smaller bank specializing in Home Purchase loans. Lafayette Ambassador Bank has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, Philadelphia, Reading, Salisbury, and Washington among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Lafayette Ambassador 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. Lafayette Ambassador 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.
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Originations
516Origination Dollar Volume (All Markets)
$79,780,000Awards
Lafayette Ambassador Bank - 2018
Lafayette Ambassador Bank is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 449 | $67,865,000 | $151,147 | $3,487 | 4.06% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 45 | $7,005,000 | $155,667 | $2,729 | 4.80% |
| READING, PA (FHA|USDA|VA) | 9 | $1,435,000 | $159,444 | $2,984 | 4.02% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $5,279 | 4.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $6,878 | 4.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $4,389 | 4.49% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,482 | 4.44% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $3,290 | 4.96% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.49% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,793 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Lafayette Ambassador Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 271 | $24,555,000 | $90,609 | n/a | 3.60% |
| Conventional | 245 | $55,225,000 | $225,408 | $3,393 | 4.72% |
For 2018, Lafayette Ambassador Bank's most frequently originated type of loan was HELOC, with 271 originations. Their 2nd most popular type was Conventional, with 245 originations.
Loan Reason
For 2018, Lafayette Ambassador Bank's most frequently cited loan purpose was Home Purchase, with 232 originations. The 2nd most popular reason was Refi, with 98 originations.
Loan Duration/Length
For 2018, Lafayette Ambassador Bank's most frequently cited loan duration was Other, with 273 originations. The 2nd most popular length was 30 Year, with 212 originations.
Origination Fees/Closing Costs
Lafayette Ambassador Bank's average total fees were $3,242, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 208 originations.
Interest Rates
During 2018, Lafayette Ambassador Bank's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 218 originations.
Loan Sizing
2018 saw Lafayette Ambassador Bank place emphasis on $100,000 or less loans with 220 originations, totaling $11,520,000 in origination value.
Applicant Income
Lafayette Ambassador Bank lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $50k or less, with 120 originations.
Applicant Debt to Income Ratio
Lafayette Ambassador Bank lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.65%
Lafayette Ambassador Bank has a below average approval rate.
Pick Rate
Approvals leading to origination87.98%
Lafayette Ambassador Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 516 | $79,780,000 | $154,612 |