Santander Bank N.a. Mortgage Rates, Fees & Info

Wilmington, DE

LEI: TR24TWEY5RVRQV65HD49

Tax ID: 23-1237295

5 stars - Updated: 2/19/24 - out of 5 stars, based on 49 reviews

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

Jump to:

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.

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
Home Equity Line of Credit (HELOC) 6.54% 2/19/24
30 Year Conventional Purchase 6.18% 2/19/24
30 Year Conventional Refi 6.32% 2/19/24
30 Year Cash-out Refi 6.54% 2/19/24
30 Year FHA Purchase 6.99% 2/19/24
30 Year VA Purchase 5.97% 2/19/24
30 Year VA Refi 6.27% 2/19/24
15 Year Conventional Purchase 5.72% 2/19/24
15 Year Conventional Refi 5.90% 2/19/24
15 Year Cash-out Refi 5.90% 2/19/24
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.

Santander Bank N.a. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Santander Bank N.a.. 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

2,449

Origination Dollar Volume (All Markets)

$3,612,005,000
Show all (24) awards

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%
Santander Bank N.a.'s top markets include New York, Philadelphia, Houston, Miami, and Boston among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    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.

    Pittsford Federal Credit Union
    Similarity Rank: 39
    Homestar Mortgage, Inc.
    Similarity Rank: 52
    POINT BREEZE
    Similarity Rank: 63
    SOMERSET
    Similarity Rank: 87
    BELLCO
    Similarity Rank: 88
    First Citizens Community Bank
    Similarity Rank: 125
    Foote Capital Mortgage Company
    Similarity Rank: 133
    Middlesex Savings Bank
    Similarity Rank: 145
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,273 $3,402,745,000 $2,673,013 $4,434 3.20%
    HELOC 1,158 $204,740,000 $176,805 n/a 3.91%
    FHA 16 $3,810,000 $238,125 $8,799 2.88%
    VA 2 $710,000 $355,000 $10,482 2.63%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 946 $2,413,900,000 $2,551,691 $3,775 3.44%
    Cash Out Refi 447 $135,685,000 $303,546 $4,464 3.24%
    Home Purchase 432 $965,730,000 $2,235,486 $5,193 3.19%
    Home Improvement 406 $60,370,000 $148,695 $7,867 4.15%
    Other 218 $36,320,000 $166,606 $5,083 4.07%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,881 $465,585,000 $247,520 $4,916 3.65%
    15 Year 247 $56,625,000 $229,251 $3,584 2.69%
    10 Year 116 $919,930,000 $7,930,431 $3,059 3.09%
    20 Year 70 $16,340,000 $233,429 $4,056 3.25%
    Other 68 $1,163,930,000 $17,116,618 $3,483 4.08%
    5 Year 37 $627,175,000 $16,950,676 $0 3.91%
    30+ year 17 $19,175,000 $1,127,941 $7,711 3.31%
    3 Year 13 $343,245,000 $26,403,462 $0 4.26%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 586 $193,160,000 $329,625
    $1k-2k 231 $62,415,000 $270,195
    $2k-3k 113 $38,785,000 $343,230
    $3k-4k 60 $21,020,000 $350,333
    $5k+ 48 $24,550,000 $511,458
    $4k-5k 27 $12,655,000 $468,704

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 1,342 $1,259,920,000 $938,838
    2.5-3% 427 $586,475,000 $1,373,478
    4-5% 419 $1,624,905,000 $3,878,055
    <2.5% 181 $61,235,000 $338,315
    5-6% 58 $78,810,000 $1,358,793
    6-7% 20 $620,000 $31,000
    7-8% 2 $40,000 $20,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 863 $122,515,000 $141,964 $3,410 3.45%
    $200k-400k 671 $183,085,000 $272,854 $4,372 3.27%
    $100,000 or less 368 $22,460,000 $61,033 $2,917 4.37%
    $400k-600k 226 $108,670,000 $480,841 $6,138 3.22%
    $1MM+ 206 $3,088,830,000 $14,994,320 $7,656 3.76%
    $600k-1MM 115 $86,445,000 $751,696 $6,505 3.16%

    2022 saw Santander Bank N.a. place emphasis on $100k-200k loans with 863 originations, totaling $122,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 493 $116,375,000 $236,055 $4,877 3.58%
    $150k-250k 445 $124,805,000 $280,461 $5,071 3.60%
    $50k-75k 428 $72,450,000 $169,276 $3,916 3.47%
    $75k-100k 385 $79,715,000 $207,052 $4,355 3.54%
    $250k+ 268 $145,950,000 $544,590 $5,753 3.32%
    $50k or less 257 $31,895,000 $124,105 $3,476 3.38%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 466 $113,490,000 $243,541 $4,240 3.43%
    30-36% 411 $110,485,000 $268,820 $4,410 3.48%
    <20% 210 $54,170,000 $257,952 $4,013 3.37%
    49% 202 $41,490,000 $205,396 $4,632 3.77%
    48% 99 $23,425,000 $236,616 $5,051 3.79%
    44% 95 $24,745,000 $260,474 $4,322 3.41%
    40% 89 $19,325,000 $217,135 $4,203 3.50%
    43% 81 $18,455,000 $227,840 $4,948 3.54%
    39% 80 $27,470,000 $343,375 $4,828 3.48%
    38% 79 $20,795,000 $263,228 $4,153 3.47%
    41% 74 $17,040,000 $230,270 $4,446 3.57%
    37% 71 $20,135,000 $283,592 $5,009 3.45%
    36% 69 $20,015,000 $290,072 $4,822 3.54%
    45% 64 $15,760,000 $246,250 $5,168 3.55%
    46% 63 $14,045,000 $222,937 $5,527 3.49%
    42% 61 $15,075,000 $247,131 $4,862 3.44%
    47% 59 $14,795,000 $250,763 $5,318 3.43%
    50-60% 2 $300,000 $150,000 $3,648 3.12%
    >60% 1 $175,000 $175,000 $2,690 3.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 173 $3,040,815,000 $17,576,965 $0 3.95%
    White 1,637 $388,995,000 $237,627 $4,332 3.52%
    Not provided 384 $101,060,000 $263,177 $4,769 3.54%
    Asian 123 $50,875,000 $413,618 $5,346 3.34%
    Black 127 $29,015,000 $228,465 $4,829 3.29%
    American Indian 4 $810,000 $202,500 $3,919 3.47%
    Native Hawaiian or Islander 1 $435,000 $435,000 $8,348 3.00%

    Approval Rates

    Total approvals of all applications
    71.46%

    Santander Bank N.a. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.59%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 677 $213,645,000 $315,576 $3,966 3.54%
    40-60% 577 $1,704,805,000 $2,954,601 $3,772 3.28%
    60-80% 540 $1,524,490,000 $2,823,130 $5,318 3.41%
    80-100% 226 $73,960,000 $327,257 $5,028 3.06%
    Under 20% 429 $95,105,000 $221,690 $3,356 4.26%

    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%