Santander Bank N.a. Mortgage Rates, Fees & Info
Wilmington, DELEI: TR24TWEY5RVRQV65HD49
Tax ID: 23-1237295
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Santander Bank N.a. is a mid-sized bank specializing in Refi and Home Purchase loans. Santander Bank N.a. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Philadelphia, Houston, Miami, and Boston among others. We have data for 89 markets. (Some data included below & more in-depth data is available with an active subscription.)Santander Bank N.a. 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. Santander Bank N.a. is typically an average 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.54% | 5/28/23 |
| 30 Year Conventional Purchase | 6.18% | 5/28/23 |
| 30 Year Conventional Refi | 6.32% | 5/28/23 |
| 30 Year Cash-out Refi | 6.54% | 5/28/23 |
| 30 Year FHA Purchase | 6.99% | 5/28/23 |
| 30 Year VA Purchase | 5.97% | 5/28/23 |
| 30 Year VA Refi | 6.27% | 5/28/23 |
| 15 Year Conventional Purchase | 5.72% | 5/28/23 |
| 15 Year Conventional Refi | 5.90% | 5/28/23 |
| 15 Year Cash-out Refi | 5.90% | 5/28/23 |
| 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. | ||
Santander Bank N.a. Mortgage Calculator
Your Estimates
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This is not an official calculator from Santander Bank N.a.. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,449Origination Dollar Volume (All Markets)
$3,612,005,000Awards
Santander Bank N.A. - 2022
Santander Bank N.A. is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Santander Bank N.a.'s average 30 year fixed mortgage rate was
3.65%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -1.11%.
Relative Fees (Closing Costs)
Santander Bank N.a.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $4,916.
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 $4,750.
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) | 807 | $927,925,000 | $1,149,845 | $5,619 | 3.54% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 294 | $399,790,000 | $1,359,830 | $4,701 | 3.51% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 10 | $253,730,000 | $25,373,000 | $0 | 3.27% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 20 | $234,340,000 | $11,717,000 | $7,235 | 3.49% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 464 | $204,160,000 | $440,000 | $3,737 | 3.42% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $156,805,000 | $31,361,000 | $4,480 | 4.89% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 59 | $147,325,000 | $2,497,034 | $3,782 | 3.70% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $125,445,000 | $25,089,000 | $4,219 | 3.31% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $89,160,000 | $44,580,000 | $0 | 4.34% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $84,070,000 | $21,017,500 | $0 | 4.85% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $74,615,000 | $14,923,000 | $3,591 | 4.09% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $60,485,000 | $20,161,667 | $0 | 4.35% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $56,205,000 | $56,205,000 | $0 | 2.95% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $54,710,000 | $27,355,000 | $0 | 4.53% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $54,610,000 | $6,826,250 | $3,135 | 4.14% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $49,445,000 | $16,481,667 | $4,598 | 2.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $46,270,000 | $23,135,000 | $5,073 | 4.09% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $42,900,000 | $21,450,000 | $4,238 | 3.21% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 207 | $40,915,000 | $197,657 | $3,652 | 3.56% |
| LANCASTER, PA (FHA|USDA|VA) | 37 | $39,325,000 | $1,062,838 | $4,018 | 3.86% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $37,745,000 | $12,581,667 | $0 | 3.99% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $33,755,000 | $33,755,000 | $0 | 3.10% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $29,505,000 | $29,505,000 | $0 | 4.44% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $27,005,000 | $27,005,000 | $0 | 4.40% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $26,420,000 | $13,210,000 | $4,491 | 3.91% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 66 | $25,270,000 | $382,879 | $3,126 | 3.59% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 3 | $25,035,000 | $8,345,000 | $2,927 | 4.33% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $23,760,000 | $11,880,000 | $0 | 3.71% |
| Key West, FL (FHA|USDA|VA) | 1 | $20,885,000 | $20,885,000 | $0 | 3.90% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 11 | $19,825,000 | $1,802,273 | $3,737 | 3.46% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $19,175,000 | $19,175,000 | $0 | 4.42% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $16,840,000 | $8,420,000 | $8,660 | 3.15% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $13,380,000 | $6,690,000 | $0 | 3.76% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $12,515,000 | $12,515,000 | $0 | 4.30% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 2 | $11,700,000 | $5,850,000 | $0 | 3.57% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $10,635,000 | $10,635,000 | $0 | 4.95% |
| LEBANON, PA (FHA|USDA|VA) | 5 | $10,545,000 | $2,109,000 | $3,638 | 3.36% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 37 | $10,275,000 | $277,703 | $4,123 | 3.73% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $10,110,000 | $5,055,000 | $0 | 3.82% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 45 | $9,785,000 | $217,444 | $3,709 | 3.27% |
| READING, PA (FHA|USDA|VA) | 77 | $9,165,000 | $119,026 | $3,506 | 3.53% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 38 | $7,590,000 | $199,737 | $3,175 | 3.60% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 5 | $6,705,000 | $1,341,000 | $4,189 | 3.32% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $6,175,000 | $6,175,000 | $0 | 4.45% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $6,005,000 | $6,005,000 | $0 | 3.06% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 45 | $5,985,000 | $133,000 | $3,640 | 3.59% |
| Vineyard Haven, MA (FHA|USDA|VA) | 13 | $5,195,000 | $399,615 | $4,037 | 3.30% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $4,635,000 | $4,635,000 | $0 | 4.36% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 37 | $4,115,000 | $111,216 | $3,237 | 3.45% |
| Outside of Metro Areas | 10 | $2,460,000 | $246,000 | $4,421 | 3.30% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 16 | $2,340,000 | $146,250 | $2,747 | 3.78% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 5 | $1,885,000 | $377,000 | $3,454 | 2.88% |
| Pottsville, PA (FHA|USDA|VA) | 17 | $1,525,000 | $89,706 | $3,658 | 3.66% |
| Concord, NH (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $2,652 | 3.55% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $10,558 | 2.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $5,227 | 3.42% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 6 | $730,000 | $121,667 | $2,963 | 3.63% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,616 | 3.33% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $7,469 | 3.63% |
| DOVER, DE (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,605 | 3.13% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,631 | 3.25% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,631 | 3.13% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,438 | 3.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $9,933 | 2.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,468 | 3.13% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,039 | 2.49% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,091 | 3.75% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,827 | 2.88% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,628 | 2.99% |
| Hudson, NY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,382 | 3.50% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,514 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,798 | 2.87% |
| Laconia, NH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.50% |
| Torrington, CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,495 | 2.75% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,890 | 4.31% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.00% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,403 | 3.13% |
| Uvalde, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,648 | 2.99% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,475 | 2.38% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 4.63% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| Berlin, NH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,188 | 3.38% |
| Lock Haven, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,106 | 3.63% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,206 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.50% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.25% |
| Forest City, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,478 | 2.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.75% |
| St. Marys, PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,874 | 2.75% |
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We use machine learning to identify the top lenders compared against Santander Bank N.A. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Santander Bank N.a.'s most frequently originated type of loan was Conventional, with 1,273 originations. Their 2nd most popular type was HELOC, with 1,158 originations.
Loan Reason
For 2022, Santander Bank N.a.'s most frequently cited loan purpose was Refi, with 946 originations. The 2nd most popular reason was Cash Out Refi, with 447 originations.
Loan Duration/Length
For 2022, Santander Bank N.a.'s most frequently cited loan duration was 30 Year, with 1,881 originations. The 2nd most popular length was 15 Year, with 247 originations.
Origination Fees/Closing Costs
Santander Bank N.a.'s average total fees were $4,916, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 586 originations.
Interest Rates
During 2022, Santander Bank N.a.'s average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 1,342 originations.
Loan Sizing
2022 saw Santander Bank N.a. place emphasis on $100k-200k loans with 863 originations, totaling $122,515,000 in origination value.
Applicant Income
Santander Bank N.a. lent most frequently to those with incomes in the $100k-150k range, with 493 originations. The second most popular income band? $150k-250k, with 445 originations.
Applicant Debt to Income Ratio
Santander Bank N.a. lent most frequently to those with DTI ratios of 20-30%, with 466 originations. The next most common DTI ratio? 30-36%, with 411 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.46%
Santander Bank N.a. has a below average approval rate.
Pick Rate
Approvals leading to origination85.59%
Santander Bank N.a. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,449 | $3,612,005,000 | $1,474,890 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,449 | $3,612,005,000 | $1,474,890 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SANTANDER BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| SANTANDER BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 50.0% |