The First National Bank Of Long Island Mortgage Rates, Fees & Info

Glen Head, NY

LEI: WO4YNEKNSZNVVA7Q7C46

Tax ID: 11-0804410

5 stars - Updated: 2/19/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

Review & Overview

The First National Bank Of Long Island is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. The First National Bank Of Long Island has a high proportion of conventional loans. Their top two markets are New York and Bridgeport .

The First National Bank Of Long Island has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The First National Bank Of Long Island 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.34% 2/19/24
30 Year Conventional Refi 6.21% 2/19/24
30 Year Cash-out Refi 6.23% 2/19/24
15 Year Conventional Purchase 5.91% 2/19/24
15 Year Conventional Refi 5.56% 2/19/24
15 Year Cash-out Refi 5.56% 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.

The First National Bank Of Long Island Mortgage Calculator






Your Estimates

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

This is not an official calculator from The First National Bank Of Long Island. 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

322

Origination Dollar Volume (All Markets)

$410,640,000

Awards

The First National Bank of Long Island 30 Year Conventional Loans bronze The First National Bank of Long Island 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

The First National Bank Of Long Island's average 30 year fixed mortgage rate was 3.8%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.96%.

Relative Fees (Closing Costs)

The First National Bank Of Long Island's average total fees/closing costs for a 30 year fixed rate mortgage were $5,329.

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) 319 $408,915,000 $1,281,865 $5,283 3.74%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,725,000 $575,000 $4,870 4.16%
The First National Bank Of Long Island's top markets include New York and Bridgeport among others.

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

    We use machine learning to identify the top lenders compared against The First National Bank of Long Island 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 322 $410,640,000 $1,275,280 $5,278 3.74%

    For 2022, The First National Bank Of Long Island's most frequently originated type of loan was Conventional, with 322 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 161 $122,445,000 $760,528 $5,045 4.02%
    Cash Out Refi 123 $200,745,000 $1,632,073 $5,777 3.42%
    Refi 34 $86,870,000 $2,555,000 $5,533 3.29%
    Other 4 $580,000 $145,000 $867 6.19%

    For 2022, The First National Bank Of Long Island's most frequently cited loan purpose was Home Purchase, with 161 originations. The 2nd most popular reason was Cash Out Refi, with 123 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 240 $181,730,000 $757,208 $5,329 3.80%
    10 Year 51 $203,635,000 $3,992,843 $6,525 3.57%
    15 Year 16 $8,570,000 $535,625 $4,519 3.82%
    20 Year 9 $4,315,000 $479,444 $5,588 2.90%
    Other 4 $9,680,000 $2,420,000 $3,974 3.09%
    5 Year 2 $2,710,000 $1,355,000 $0 5.49%

    For 2022, The First National Bank Of Long Island's most frequently cited loan duration was 30 Year, with 240 originations. The 2nd most popular length was 10 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 266 $188,810,000 $709,812
    $<1k 3 $475,000 $158,333

    The First National Bank Of Long Island's average total fees were $5,329, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 117 $162,835,000 $1,391,752
    2.5-3% 92 $145,950,000 $1,586,413
    4-5% 72 $71,610,000 $994,583
    5-6% 30 $23,560,000 $785,333
    <2.5% 6 $5,410,000 $901,667
    6-7% 5 $1,275,000 $255,000

    During 2022, The First National Bank Of Long Island's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 3-4%, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 101 $292,895,000 $2,899,950 $7,123 3.45%
    $600k-1MM 85 $64,105,000 $754,176 $5,573 3.72%
    $400k-600k 73 $35,895,000 $491,712 $4,787 3.78%
    $200k-400k 53 $16,385,000 $309,151 $4,044 4.09%
    $100k-200k 10 $1,360,000 $136,000 $2,846 4.71%

    2022 saw The First National Bank Of Long Island place emphasis on $1MM+ loans with 101 originations, totaling $292,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 168 $142,120,000 $845,952 $5,693 3.69%
    $150k-250k 65 $34,505,000 $530,846 $4,736 4.01%
    $100k-150k 29 $10,705,000 $369,138 $4,443 3.82%
    $75k-100k 6 $1,670,000 $278,333 $3,896 3.29%
    $50k-75k 2 $390,000 $195,000 $4,004 3.62%

    The First National Bank Of Long Island lent most frequently to those with incomes in the $250k+ range, with 168 originations. The second most popular income band? $150k-250k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $59,580,000 $692,791 $5,213 3.74%
    30-36% 59 $38,705,000 $656,017 $5,261 3.67%
    <20% 42 $25,410,000 $605,000 $5,049 3.79%
    40% 15 $14,175,000 $945,000 $6,076 3.52%
    42% 14 $9,450,000 $675,000 $5,098 4.59%
    39% 12 $9,100,000 $758,333 $5,179 3.30%
    36% 12 $9,200,000 $766,667 $5,414 4.35%
    38% 11 $10,275,000 $934,091 $4,752 3.79%
    41% 8 $6,000,000 $750,000 $5,921 3.48%
    37% 7 $4,985,000 $712,143 $6,080 3.84%
    43% 2 $1,080,000 $540,000 $5,977 4.06%
    >60% 2 $1,430,000 $715,000 $5,295 4.50%

    The First National Bank Of Long Island lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 51 $218,355,000 $4,281,471 $0 3.57%
    White 172 $119,280,000 $693,488 $5,233 3.80%
    Not provided 66 $47,410,000 $718,333 $5,466 3.71%
    Asian 19 $17,245,000 $907,632 $5,123 3.90%
    Black 4 $2,800,000 $700,000 $5,789 4.31%
    Chinese 4 $2,180,000 $545,000 $4,660 3.13%
    Filipino 2 $1,510,000 $755,000 $5,431 3.63%
    Asian Indian 2 $1,190,000 $595,000 $4,779 3.19%
    Other Asian 2 $670,000 $335,000 $4,963 3.75%

    Approval Rates

    Total approvals of all applications
    91.12%

    The First National Bank Of Long Island has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.30%

    The First National Bank Of Long Island has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 322 $410,640,000 $1,275,280

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    322 $410,640,000 $1,275,280

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $35,645,000 $963,378 $4,803 3.87%
    40-60% 73 $113,195,000 $1,550,616 $5,489 3.57%
    60-80% 160 $221,910,000 $1,386,938 $5,300 3.68%
    80-100% 39 $29,105,000 $746,282 $5,347 3.99%
    Under 20% 13 $10,785,000 $829,615 $4,815 4.30%