Santander Bank N.a. Mortgage Rates, Fees & Info
Wilmington, DELEI: TR24TWEY5RVRQV65HD49
Tax ID: 23-1237295
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Mortgage Data
Review & Overview
Santander Bank N.a. is a small bank specializing in Refi and Home Purchase loans. Santander Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Philadelphia, New York, Miami, and Houston among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)Santander Bank N.a. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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% | 12/16/24 |
| 30 Year Conventional Purchase | 6.18% | 12/16/24 |
| 30 Year Conventional Refi | 6.32% | 12/16/24 |
| 30 Year Cash-out Refi | 6.54% | 12/16/24 |
| 30 Year FHA Purchase | 6.99% | 12/16/24 |
| 30 Year VA Purchase | 5.97% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.72% | 12/16/24 |
| 15 Year Conventional Refi | 5.90% | 12/16/24 |
| 15 Year Cash-out Refi | 5.90% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
70Origination Dollar Volume (All Markets)
$1,252,640,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $142,025,000 | $28,405,000 | $0 | 5.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $137,430,000 | $22,905,000 | $0 | 5.55% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 10 | $103,880,000 | $10,388,000 | $1,088 | 5.17% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $98,145,000 | $19,629,000 | $0 | 5.79% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $63,025,000 | $21,008,333 | $0 | 5.51% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $60,600,000 | $30,300,000 | $0 | 5.62% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $55,005,000 | $55,005,000 | $0 | 5.59% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $48,105,000 | $48,105,000 | $0 | 5.24% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 5 | $47,185,000 | $9,437,000 | $0 | 5.60% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $47,010,000 | $23,505,000 | $0 | 5.68% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $46,905,000 | $15,635,000 | $0 | 5.45% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2 | $39,460,000 | $19,730,000 | $0 | 5.87% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $38,005,000 | $38,005,000 | $0 | 5.82% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $37,685,000 | $12,561,667 | $0 | 5.60% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $33,755,000 | $33,755,000 | $0 | 3.10% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $30,260,000 | $15,130,000 | $0 | 5.47% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $30,005,000 | $30,005,000 | $0 | 5.28% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $30,005,000 | $30,005,000 | $0 | 5.78% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $28,005,000 | $28,005,000 | $0 | 4.45% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $26,005,000 | $26,005,000 | $0 | 5.54% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $14,305,000 | $14,305,000 | $0 | 5.62% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $14,005,000 | $14,005,000 | $0 | 5.85% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $13,105,000 | $13,105,000 | $0 | 5.59% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $12,505,000 | $12,505,000 | $0 | 4.37% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $12,005,000 | $12,005,000 | $0 | 5.39% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $11,680,000 | $5,840,000 | $0 | 6.77% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $8,155,000 | $8,155,000 | $0 | 5.61% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $7,345,000 | $7,345,000 | $0 | 5.69% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $6,505,000 | $6,505,000 | $0 | 6.18% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $6,205,000 | $6,205,000 | $0 | 5.32% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $0 | 5.37% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,079 | 3.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,328 | 10.49% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 69 | $1,244,665,000 | $18,038,623 | $1,165 | 5.52% |
| HELOC | 1 | $7,975,000 | $7,975,000 | n/a | 7.43% |
For 2023, Santander Bank N.a.'s most frequently originated type of loan was Conventional, with 69 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2023, Santander Bank N.a.'s most frequently cited loan purpose was Refi, with 52 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
For 2023, Santander Bank N.a.'s most frequently cited loan duration was 5 Year, with 52 originations. The 2nd most popular length was 10 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $575,000 | $191,667 |
Santander Bank N.a.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
During 2023, Santander Bank N.a.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 53 originations.
Loan Sizing
2023 saw Santander Bank N.a. place emphasis on $1MM+ loans with 67 originations, totaling $1,252,065,000 in origination value.
Applicant Income
Santander Bank N.a. lent most frequently to those with incomes in the $100k-150k range, with 1 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $255,000 | $255,000 | $1,088 | 2.88% |
| 30-36% | 1 | $15,000 | $15,000 | $1,328 | 10.49% |
| 45% | 1 | $305,000 | $305,000 | $1,079 | 3.75% |
Santander Bank N.a. lent most frequently to those with DTI ratios of 20-30%, with 1 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.19%
Santander Bank N.a. has an average approval rate.
Pick Rate
Approvals leading to origination84.29%
Santander Bank N.a. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 70 | $1,252,640,000 | $17,894,857 |