Amsterdam Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Amsterdam averaged
6.88%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7.02% and
one month ago for the week of 2023-08-10, the
average rate was 6.66%.
Amsterdam's average rate one year ago was 5.89%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.78%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
Amsterdam 30 Year Fixed Rate | 2023-09-14 | 6.88% |
Amsterdam 30 Year Fixed Rate Refi | 2023-09-14 | 7.78% |
Amsterdam 15 Year Fixed Rate | 2023-09-14 | 6.71% |
Amsterdam 15 Year Fixed Rate Refi | 2023-09-14 | 6.91% |
Amsterdam 30 Year FHA | 2023-09-14 | 6.24% |
Amsterdam 30 Year FHA Refi | 2023-09-14 | 6.89% |
Amsterdam 30 Year USDA | 2023-09-14 | 6.98% |
Amsterdam 30 Year USDA Refi | 2023-09-14 | 6.98% |
Amsterdam 30 Year VA | 2023-09-14 | 7.01% |
Amsterdam 30 Year VA Refi | 2023-09-14 | 7.01% |
Amsterdam Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Amsterdam, NY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Amsterdam Average Closing Costs & Other Stats
Amsterdam, NY's 51 lenders originated 892
loans during 2022. The total origination value was $121,740,000, with an average loan value of
$136,480.
Amsterdam's average closing costs are $4,429.
The top Amsterdam lender as defined by loan originations is HOMESTEAD FUNDING CORP., with
51 loans originated. Their average total fees are
$3,395, which is $22
lower than the next largest lender,
SEFCU SERVICES, LLC.
The lowest fee Amsterdam lenders (with over 10 loans originated) are
Community Bank ($1,381), HOMESTEAD FUNDING CORP. ($3,395), SEFCU SERVICES, LLC ($3,418), NBT Bank ($3,987) and SUNMARK FEDERAL CREDIT UNION ($4,174).
The lowest rate Amsterdam lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.47%), SEFCU SERVICES, LLC (4.56%), NBT Bank (4.78%), SUNMARK FEDERAL CREDIT UNION (4.81%) and HOMESTEAD FUNDING CORP. (5.02%).
Amsterdam, NY Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
HOMESTEAD FUNDING CORP. | $24,035,000 | $16,775,000 | -30.2% | 13.8% |
SUNMARK FEDERAL CREDIT UNION | $11,875,000 | $10,070,000 | -15.2% | 8.3% |
QUICKEN LOANS, LLC | $17,035,000 | $8,970,000 | -47.3% | 7.4% |
SEFCU SERVICES, LLC | $12,785,000 | $7,100,000 | -44.5% | 5.8% |
Community Bank | $3,865,000 | $6,595,000 | 70.6% | 5.4% |
NBT Bank | $6,695,000 | $5,905,000 | -11.8% | 4.9% |
STATE EMPLOYEES FEDERAL CREDIT UNION | $3,570,000 | $5,365,000 | 50.3% | 4.4% |
HOME POINT FINANCIAL CORPORATION | $6,050,000 | $4,755,000 | -21.4% | 3.9% |
KeyBank | $8,405,000 | $4,050,000 | -51.8% | 3.3% |
Mortgage Research Center, LLC | $1,370,000 | $3,630,000 | 165.0% | 3.0% |
TrustCo Bank | $6,275,000 | $3,100,000 | -50.6% | 2.5% |
CCFCU FUNDING, LLC | $4,945,000 | $2,655,000 | -46.3% | 2.2% |
UNITED WHOLESALE MORTGAGE, LLC | $1,925,000 | $2,575,000 | 33.8% | 2.1% |
Premium Mortgage Corporation | $2,340,000 | $2,380,000 | 1.7% | 2.0% |
Farm Credit East, ACA | $1,345,000 | $2,250,000 | 67.3% | 1.8% |
CALIBER HOME LOANS, INC. | $1,835,000 | $2,185,000 | 19.1% | 1.8% |
1ST PRIORITY MORTGAGE, INC. | $1,380,000 | $1,515,000 | 9.8% | 1.2% |
Citizens Bank | $1,920,000 | $1,400,000 | -27.1% | 1.1% |
FIRST NEW YORK | $1,065,000 | $1,380,000 | 29.6% | 1.1% |
Empower Federal Credit Union | $1,025,000 | $1,355,000 | 32.2% | 1.1% |
M&T Bank | $1,060,000 | $1,345,000 | 26.9% | 1.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,025,000 | $1,165,000 | 13.7% | 1.0% |
Flagstar Bank, FSB | $2,085,000 | $1,160,000 | -44.4% | 1.0% |
PLAZA HOME MORTGAGE, INC. | $1,385,000 | $1,145,000 | -17.3% | 0.9% |
Mr. Cooper ( Nationstar Mortgage ) | $1,675,000 | $1,100,000 | -34.3% | 0.9% |
First National Bank of Scotia | $935,000 | $1,010,000 | 8.0% | 0.8% |
AMERICAN FINANCIAL RESOURCES, INC. | $1,505,000 | $955,000 | -36.5% | 0.8% |
AMERICU Credit Union | $1,070,000 | $935,000 | -12.6% | 0.8% |
NAVY FEDERAL CREDIT UNION | $1,710,000 | $915,000 | -46.5% | 0.8% |
LOANDEPOT.COM, LLC | $720,000 | $880,000 | 22.2% | 0.7% |
Berkshire Bank | $670,000 | $695,000 | 3.7% | 0.6% |
Wells Fargo Bank | $1,710,000 | $650,000 | -62.0% | 0.5% |
Glens Falls National Bank and Trust Company | $465,000 | $630,000 | 35.5% | 0.5% |
MOVEMENT MORTGAGE, LLC | $415,000 | $590,000 | 42.2% | 0.5% |
CAPITAL COMMUNICATIONS Federal Credit Union | $1,690,000 | $550,000 | -67.5% | 0.5% |
North American Savings Bank, F.S.B. | $550,000 | n/a | 0.5% | |
USAA Federal Savings Bank | $900,000 | $525,000 | -41.7% | 0.4% |
JPMorgan Chase Bank | $1,690,000 | $495,000 | -70.7% | 0.4% |
Carrington Mortgage Services, LLC | $850,000 | $475,000 | -44.1% | 0.4% |
NEWREZ LLC | $650,000 | $445,000 | -31.5% | 0.4% |
RELIANCE FIRST CAPITAL, LLC | $545,000 | $430,000 | -21.1% | 0.4% |
Wayne Bank | $415,000 | n/a | 0.3% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $280,000 | $400,000 | 42.9% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $635,000 | $380,000 | -40.2% | 0.3% |
FINANCE OF AMERICA REVERSE LLC | $375,000 | n/a | 0.3% | |
Quontic Bank | $810,000 | $370,000 | -54.3% | 0.3% |
HUNT MORTGAGE CORPORATION | $205,000 | $360,000 | 75.6% | 0.3% |
MLB RESIDENTIAL LENDING, LLC | $265,000 | $340,000 | 28.3% | 0.3% |
CONTOUR MORTGAGE CORPORATION | $330,000 | n/a | 0.3% | |
VELOCITY COMMERCIAL CAPITAL, LLC | $115,000 | $325,000 | 182.6% | 0.3% |
AMERICAN FINANCING CORPORATION | $750,000 | $315,000 | -58.0% | 0.3% |
Ballston Spa National Bank | $110,000 | $310,000 | 181.8% | 0.3% |
GPO Federal Credit Union | $305,000 | n/a | 0.3% | |
Bank of England | $180,000 | $300,000 | 66.7% | 0.2% |
Bank of Richmondville | $1,450,000 | $285,000 | -80.3% | 0.2% |
Adirondack Bank | $145,000 | $280,000 | 93.1% | 0.2% |
The Federal Savings Bank | $235,000 | n/a | 0.2% | |
Chemung Canal Trust Company | $245,000 | $225,000 | -8.2% | 0.2% |
HUDSON VALLEY CREDIT UNION | $285,000 | $225,000 | -21.1% | 0.2% |
21ST MORTGAGE CORPORATION | $430,000 | $215,000 | -50.0% | 0.2% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $215,000 | n/a | 0.2% | |
IMPAC MORTGAGE CORP. | $210,000 | n/a | 0.2% | |
COMMUNITY RESOURCE FEDERAL CREDIT UNION | $115,000 | $205,000 | 78.3% | 0.2% |
CREDIT UNION MORTGAGE ASSOCIATION, INC. | $195,000 | n/a | 0.2% | |
EVERETT FINANCIAL, INC. | $195,000 | n/a | 0.2% | |
A&D Mortgage LLC | $190,000 | n/a | 0.2% | |
AMERICAN HERITAGE LENDING, INC. | $190,000 | n/a | 0.2% | |
First Savings Bank | $185,000 | n/a | 0.2% | |
TCT | $185,000 | n/a | 0.2% | |
CROSSCOUNTRY MORTGAGE, LLC | $585,000 | $180,000 | -69.2% | 0.1% |
LIMA ONE CAPITAL, LLC | $55,000 | $180,000 | 227.3% | 0.1% |
CLIFFCO, INC. | $175,000 | n/a | 0.1% | |
Equity Prime Mortgage LLC | $155,000 | $175,000 | 12.9% | 0.1% |
GUARANTEED RATE, INC. | $85,000 | $165,000 | 94.1% | 0.1% |
UNITED NORTHERN MORTGAGE BANKERS LIMITED | $165,000 | n/a | 0.1% | |
FINANCE OF AMERICA MORTGAGE LLC | $155,000 | n/a | 0.1% | |
First National Bank of America | $155,000 | n/a | 0.1% | |
Evolve Bank & Trust | $145,000 | n/a | 0.1% | |
First Home Bank | $165,000 | $145,000 | -12.1% | 0.1% |
PENNYMAC LOAN SERVICES, LLC | $145,000 | n/a | 0.1% | |
TOTAL MORTGAGE SERVICES, LLC | $130,000 | n/a | 0.1% | |
Baxter Credit Union | $65,000 | $125,000 | 92.3% | 0.1% |
East Coast Capital Corp. | $125,000 | n/a | 0.1% | |
DIGITAL Federal Credit Union | $115,000 | n/a | 0.1% | |
MID-HUDSON VALLEY | $115,000 | n/a | 0.1% | |
Fidelity Bank | $105,000 | n/a | 0.1% | |
FREEDOM MORTGAGE CORPORATION | $860,000 | $105,000 | -87.8% | 0.1% |
FIRST SOURCE | $540,000 | $100,000 | -81.5% | 0.1% |
Barrington Bank & Trust Company, N.A. | $340,000 | $95,000 | -72.1% | 0.1% |
LENDINGHOME FUNDING CORPORATION | $85,000 | n/a | 0.1% | |
The Lyons National Bank | $85,000 | n/a | 0.1% | |
AMERICAN ADVISORS GROUP | $65,000 | n/a | 0.1% | |
TD Bank | $95,000 | $65,000 | -31.6% | 0.1% |
USAlliance Federal Credit Union | $65,000 | n/a | 0.1% | |
Bank of America | $695,000 | $55,000 | -92.1% | 0.0% |
PENTAGON FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
Pioneer Bank | $150,000 | $35,000 | -76.7% | 0.0% |
PNC Bank | $135,000 | $25,000 | -81.5% | 0.0% |
Amsterdam's top lender by overall market share is HOMESTEAD FUNDING CORP., with 13.8% market share. In second place, with 8.3%, is SUNMARK FEDERAL CREDIT UNION, having originated $10,070,000 in loans. In third place, with 7.4%, is QUICKEN LOANS, LLC, having originated $8,970,000 in loans. In fourth place, with 5.8%, is SEFCU SERVICES, LLC, having originated $7,100,000 in loans. In fifth place, with 5.4%, is Community Bank, having originated $6,595,000 in loans.
Amsterdam, NY Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 460 | $76,950,000 | $167,283 |
Home Improvement | 144 | $9,990,000 | $69,375 |
Refi | 130 | $15,470,000 | $119,000 |
Cash Out Refi | 115 | $16,045,000 | $139,522 |
Other | 43 | $3,285,000 | $76,395 |
Amsterdam's most frequently cited loan purpose was Home Purchase, with 460 originations. The 2nd most popular reason was Home Improvement, with 144 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 223 | $30,005,000 | $134,552 |
5-6% | 195 | $30,725,000 | $157,564 |
4-5% | 192 | $28,070,000 | $146,198 |
6-7% | 91 | $12,275,000 | $134,890 |
2.5-3% | 54 | $6,370,000 | $117,963 |
<2.5% | 50 | $4,630,000 | $92,600 |
7-8% | 27 | $2,755,000 | $102,037 |
Over 8% | 16 | $1,150,000 | $71,875 |
During 2022, Amsterdam's most frequently originated rate bucket was 3-4%, with 223 originations.
Loan Sizing (Amsterdam, NY MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 386 | $55,480,000 | $143,731 |
$100,000 or less | 341 | $20,415,000 | $59,868 |
$200k-400k | 154 | $39,490,000 | $256,429 |
$400k-600k | 10 | $4,830,000 | $483,000 |
$Over $1MM | 1 | $1,525,000 | $1,525,000 |
Amsterdam's loan sizing saw the bucket of loans from $100k-200k with 386 originations, totaling $55,480,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 385 | $66,515,000 | $172,766 |
60-80% | 198 | $29,000,000 | $146,465 |
20-40% | 107 | $6,585,000 | $61,542 |
40-60% | 86 | $9,870,000 | $114,767 |
Under 20% | 65 | $1,855,000 | $28,538 |
Over 100% | 9 | $2,165,000 | $240,556 |
Amsterdam's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 385 originations, totaling $66,515,000 in origination value.