Gloversville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gloversville averaged
6.59%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.72% and
one month ago for the week of 2023-02-09, the
average rate was 6.41%.
Gloversville's average rate one year ago was 4.14%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.89%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Gloversville 30 Year Fixed Rate | 2023-03-16 | 6.59% |
Gloversville 30 Year Fixed Rate Refi | 2023-03-16 | 6.89% |
Gloversville 15 Year Fixed Rate | 2023-03-16 | 6.55% |
Gloversville 15 Year Fixed Rate Refi | 2023-03-16 | 6.39% |
Gloversville 30 Year FHA | 2023-03-16 | 6.77% |
Gloversville 30 Year FHA Refi | 2023-03-16 | 6.78% |
Gloversville 30 Year USDA | 2023-03-16 | 6.64% |
Gloversville 30 Year USDA Refi | 2023-03-16 | 6.34% |
Gloversville 30 Year VA | 2023-03-16 | 6.97% |
Gloversville 30 Year VA Refi | 2023-03-16 | 5.98% |
Gloversville 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 Gloversville, 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.).
Gloversville Average Closing Costs & Other Stats
Gloversville, NY's 65 lenders originated 1,486
loans during 2021. The total origination value was $243,070,000, with an average loan value of
$163,573.
Gloversville's average closing costs are $4,372.
The top Gloversville lender as defined by loan originations is HOMESTEAD FUNDING CORP., with
70 loans originated. Their average total fees are
$3,205, which is $2,647
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Gloversville lenders (with over 10 loans originated) are
Community Bank ($1,458), TrustCo Bank ($1,775), SEFCU SERVICES, LLC ($2,950), KeyBank ($3,102) and CCFCU FUNDING, LLC ($3,195).
The lowest rate Gloversville lenders (with over 10 loans originated) are
NBT Bank (3.01%), KeyBank (3.05%), 1ST PRIORITY MORTGAGE, INC. (3.06%), TrustCo Bank (3.07%) and QUICKEN LOANS, LLC (3.11%).
Gloversville, 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
HOMESTEAD FUNDING CORP. | $22,220,000 | $28,625,000 | 28.8% | 11.8% |
QUICKEN LOANS, LLC | $16,755,000 | $25,125,000 | 50.0% | 10.3% |
NBT Bank | $13,830,000 | $15,130,000 | 9.4% | 6.2% |
SUNMARK FEDERAL CREDIT UNION | $10,365,000 | $12,100,000 | 16.7% | 5.0% |
SEFCU SERVICES, LLC | $11,535,000 | $12,080,000 | 4.7% | 5.0% |
HOME POINT FINANCIAL CORPORATION | $6,205,000 | $11,385,000 | 83.5% | 4.7% |
KeyBank | $7,400,000 | $11,305,000 | 52.8% | 4.7% |
Community Bank | $4,275,000 | $9,960,000 | 133.0% | 4.1% |
Capital One | $8,535,000 | n/a | 3.5% | |
UNITED WHOLESALE MORTGAGE, LLC | $1,980,000 | $6,180,000 | 212.1% | 2.5% |
CALIBER HOME LOANS, INC. | $2,280,000 | $5,545,000 | 143.2% | 2.3% |
The National Bank of Coxsackie | $1,885,000 | $4,930,000 | 161.5% | 2.0% |
CCFCU FUNDING, LLC | $5,185,000 | $4,820,000 | -7.0% | 2.0% |
1ST PRIORITY MORTGAGE, INC. | $2,445,000 | $4,790,000 | 95.9% | 2.0% |
STATE EMPLOYEES FEDERAL CREDIT UNION | $2,480,000 | $4,655,000 | 87.7% | 1.9% |
Premium Mortgage Corporation | $3,395,000 | $4,450,000 | 31.1% | 1.8% |
Wells Fargo Bank | $3,790,000 | $4,220,000 | 11.3% | 1.7% |
TrustCo Bank | $3,410,000 | $4,180,000 | 22.6% | 1.7% |
Citizens Bank | $1,800,000 | $3,780,000 | 110.0% | 1.6% |
NEWREZ LLC | $505,000 | $3,490,000 | 591.1% | 1.4% |
LOANDEPOT.COM, LLC | $1,475,000 | $3,210,000 | 117.6% | 1.3% |
Flagstar Bank, FSB | $3,265,000 | $2,955,000 | -9.5% | 1.2% |
PLAZA HOME MORTGAGE, INC. | $3,085,000 | $2,285,000 | -25.9% | 0.9% |
FREEDOM MORTGAGE CORPORATION | $670,000 | $2,025,000 | 202.2% | 0.8% |
Manufacturers and Traders Trust Company | $1,965,000 | $2,000,000 | 1.8% | 0.8% |
CROSSCOUNTRY MORTGAGE, LLC | $400,000 | $1,730,000 | 332.5% | 0.7% |
AMERICAN FINANCIAL RESOURCES, INC. | $2,895,000 | $1,710,000 | -40.9% | 0.7% |
CAPITAL COMMUNICATIONS Federal Credit Union | $1,425,000 | $1,560,000 | 9.5% | 0.6% |
Mr. Cooper ( Nationstar Mortgage ) | $2,375,000 | $1,500,000 | -36.8% | 0.6% |
NAVY FEDERAL CREDIT UNION | $600,000 | $1,500,000 | 150.0% | 0.6% |
Ballston Spa National Bank | $2,045,000 | $1,445,000 | -29.3% | 0.6% |
JPMorgan Chase Bank | $760,000 | $1,420,000 | 86.8% | 0.6% |
FIRST NEW YORK | $55,000 | $1,415,000 | 2,472.7% | 0.6% |
Farm Credit East, ACA | $1,355,000 | n/a | 0.6% | |
Mortgage Research Center, LLC | $900,000 | $1,310,000 | 45.6% | 0.5% |
Saratoga National Bank and Trust Company | $1,480,000 | $1,185,000 | -19.9% | 0.5% |
First National Bank of Scotia | $1,130,000 | $1,145,000 | 1.3% | 0.5% |
Berkshire Bank | $970,000 | $1,120,000 | 15.5% | 0.5% |
Pioneer Bank | $375,000 | $1,110,000 | 196.0% | 0.5% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,050,000 | $1,075,000 | 2.4% | 0.4% |
Carrington Mortgage Services, LLC | $1,205,000 | $1,045,000 | -13.3% | 0.4% |
AMERICAN FINANCIAL NETWORK, INC. | $135,000 | $1,025,000 | 659.3% | 0.4% |
USAlliance Federal Credit Union | $1,000,000 | n/a | 0.4% | |
Empower Federal Credit Union | $310,000 | $880,000 | 183.9% | 0.4% |
Bank of America | $1,255,000 | $835,000 | -33.5% | 0.3% |
OWNERSCHOICE FUNDING, INCORPORATED | $1,575,000 | $805,000 | -48.9% | 0.3% |
AMERICU Credit Union | $1,285,000 | $800,000 | -37.7% | 0.3% |
The Adirondack Trust Company | $270,000 | $775,000 | 187.0% | 0.3% |
RELIANCE FIRST CAPITAL, LLC | $765,000 | n/a | 0.3% | |
GUARANTEED RATE, INC. | $485,000 | $745,000 | 53.6% | 0.3% |
Chemung Canal Trust Company | $720,000 | n/a | 0.3% | |
USAA Federal Savings Bank | $1,055,000 | $695,000 | -34.1% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $210,000 | $650,000 | 209.5% | 0.3% |
MOVEMENT MORTGAGE, LLC | $65,000 | $645,000 | 892.3% | 0.3% |
BETTER MORTGAGE CORPORATION | $620,000 | n/a | 0.3% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $460,000 | $620,000 | 34.8% | 0.3% |
HUDSON VALLEY CREDIT UNION | $55,000 | $580,000 | 954.5% | 0.2% |
BOND STREET MORTGAGE, LLC | $545,000 | n/a | 0.2% | |
Barrington Bank & Trust Company, N.A. | $400,000 | $535,000 | 33.8% | 0.2% |
TCT | $180,000 | $485,000 | 169.4% | 0.2% |
U.S. Bank | $455,000 | n/a | 0.2% | |
NP, Inc. | $410,000 | n/a | 0.2% | |
AMERICAN FINANCING CORPORATION | $405,000 | n/a | 0.2% | |
Rhinebeck Bank | $405,000 | n/a | 0.2% | |
GPO Federal Credit Union | $440,000 | $385,000 | -12.5% | 0.2% |
UNITED MORTGAGE CORP. | $365,000 | n/a | 0.2% | |
Bethpage Federal Credit Union | $360,000 | n/a | 0.1% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $105,000 | $330,000 | 214.3% | 0.1% |
TIAA, FSB | $330,000 | $325,000 | -1.5% | 0.1% |
QUORUM FEDERAL CREDIT UNION | $85,000 | $305,000 | 258.8% | 0.1% |
Glens Falls National Bank and Trust Company | $360,000 | $300,000 | -16.7% | 0.1% |
Discover Bank | $295,000 | n/a | 0.1% | |
21ST MORTGAGE CORPORATION | $90,000 | $290,000 | 222.2% | 0.1% |
CONTOUR MORTGAGE CORPORATION | $205,000 | $280,000 | 36.6% | 0.1% |
PNC Bank | $265,000 | n/a | 0.1% | |
Mahopac Bank | $255,000 | n/a | 0.1% | |
Santander Bank, N.A. | $255,000 | n/a | 0.1% | |
TD Bank | $675,000 | $255,000 | -62.2% | 0.1% |
ALLIED MORTGAGE GROUP, INC. | $275,000 | $225,000 | -18.2% | 0.1% |
Citibank | $280,000 | $225,000 | -19.6% | 0.1% |
North American Savings Bank, F.S.B. | $225,000 | n/a | 0.1% | |
Magnolia Bank | $115,000 | $215,000 | 87.0% | 0.1% |
Elements Financial Federal Credit Union | $205,000 | n/a | 0.1% | |
EMBRACE HOME LOANS, INC. | $205,000 | n/a | 0.1% | |
HSBC BANK USA, NATIONAL ASSOCIATION | $205,000 | n/a | 0.1% | |
The Federal Savings Bank | $195,000 | n/a | 0.1% | |
MLB RESIDENTIAL LENDING, LLC | $155,000 | $190,000 | 22.6% | 0.1% |
Baxter Credit Union | $165,000 | n/a | 0.1% | |
Equity Prime Mortgage LLC | $165,000 | n/a | 0.1% | |
Plains Commerce Bank | $155,000 | n/a | 0.1% | |
CREDIT UNION MORTGAGE ASSOCIATION, INC. | $145,000 | n/a | 0.1% | |
FIRST SOURCE | $250,000 | $145,000 | -42.0% | 0.1% |
HARTFORD FUNDING, LTD. | $145,000 | n/a | 0.1% | |
Quontic Bank | $135,000 | n/a | 0.1% | |
FINANCE OF AMERICA COMMERCIAL LLC | $120,000 | n/a | 0.0% | |
FIRST CREDIT CORPORATION OF NEW YORK, INC. | $135,000 | $115,000 | -14.8% | 0.0% |
First Home Bank | $105,000 | n/a | 0.0% | |
PARAGON HOME LOANS INC. | $245,000 | $105,000 | -57.1% | 0.0% |
PENTAGON FEDERAL CREDIT UNION | $105,000 | n/a | 0.0% | |
Bank of England | $95,000 | n/a | 0.0% | |
CORNING | $45,000 | $85,000 | 88.9% | 0.0% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $105,000 | $75,000 | -28.6% | 0.0% |
LAND HOME FINANCIAL SERVICES, INC. | $285,000 | $75,000 | -73.7% | 0.0% |
ROUNDPOINT MORTGAGE SERVICING CORPORATION | $75,000 | n/a | 0.0% | |
LIMA ONE CAPITAL, LLC | $65,000 | n/a | 0.0% | |
BayCoast Bank | $25,000 | $55,000 | 120.0% | 0.0% |
Gloversville's top lender by overall market share is HOMESTEAD FUNDING CORP., with 11.8% market share. In second place, with 10.3%, is QUICKEN LOANS, LLC, having originated $25,125,000 in loans. In third place, with 6.2%, is NBT Bank, having originated $15,130,000 in loans. In fourth place, with 5.0%, is SUNMARK FEDERAL CREDIT UNION, having originated $12,100,000 in loans. In fifth place, with 5.0%, is SEFCU SERVICES, LLC, having originated $12,080,000 in loans.
Gloversville Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Gloversville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $136,375 (11.5%) | $184,246 (9.8%) | 0.00 | 242 |
2018-02-01 | $137,625 (15.9%) | $186,283 (13.1%) | 0.00 | 223 |
2018-03-01 | $135,500 (19.2%) | $190,009 (19.7%) | 0.00 | 229 |
2018-04-01 | $138,200 (16.1%) | $192,011 (15.9%) | 0.00 | 235 |
2018-05-01 | $159,700 (25.9%) | $206,608 (16.9%) | 0.00 | 278 |
2018-06-01 | $161,450 (24.3%) | $206,149 (16.2%) | 0.00 | 301 |
2018-07-01 | $159,975 (16.8%) | $203,520 (11.7%) | 0.00 | 327 |
2018-08-01 | $167,450 (13.1%) | $210,868 (9.1%) | 0.00 | 315 |
2018-09-01 | $164,950 (10.3%) | $201,799 (3.5%) | 0.00 | 330 |
2018-10-01 | $166,200 (11.0%) | $202,361 (4.2%) | 0.00 | 317 |
2018-11-01 | $159,925 (7.2%) | $198,924 (3.5%) | 0.00 | 306 |
2018-12-01 | $149,900 (7.8%) | $187,481 (2.0%) | 0.00 | 281 |
2019-01-01 | $153,675 (12.7%) | $186,492 (1.2%) | 0.00 | 257 |
2019-02-01 | $144,950 (5.3%) | $179,378 (-3.7%) | 0.00 | 250 |
2019-03-01 | $150,086 (10.8%) | $182,344 (-4.0%) | 0.00 | 242 |
2019-04-01 | $158,475 (14.7%) | $188,130 (-2.0%) | 0.00 | 243 |
2019-05-01 | $168,950 (5.8%) | $198,806 (-3.8%) | 0.00 | 276 |
2019-06-01 | $174,900 (8.3%) | $208,756 (1.3%) | 0.00 | 299 |
2019-07-01 | $177,000 (10.6%) | $209,916 (3.1%) | 0.00 | 320 |
2019-08-01 | $169,609 (1.3%) | $209,205 (-0.8%) | 0.00 | 329 |
2019-09-01 | $158,523 (-3.9%) | $205,651 (1.9%) | 0.00 | 328 |
2019-10-01 | $149,450 (-10.1%) | $200,341 (-1.0%) | 0.00 | 320 |
2019-11-01 | $139,900 (-12.5%) | $196,506 (-1.2%) | 0.00 | 291 |
2019-12-01 | $143,475 (-4.3%) | $199,006 (6.2%) | 0.00 | 271 |
2020-01-01 | $141,550 (-7.9%) | $197,502 (5.9%) | 0.00 | 248 |
2020-02-01 | $139,000 (-4.1%) | $195,401 (8.9%) | 0.00 | 248 |
2020-03-01 | $156,200 (4.1%) | $206,752 (13.4%) | 0.00 | 222 |
2020-04-01 | $159,225 (0.5%) | $210,004 (11.6%) | 0.00 | 207 |
2020-05-01 | $169,000 (0.0%) | $211,860 (6.6%) | 0.00 | 193 |
2020-06-01 | $177,950 (1.7%) | $213,546 (2.3%) | 0.00 | 172 |
2020-07-01 | $159,950 (-9.6%) | $214,159 (2.0%) | 0.00 | 174 |
2020-08-01 | $187,000 (10.3%) | $230,397 (10.1%) | 0.00 | 168 |
2020-09-01 | $187,425 (18.2%) | $225,482 (9.6%) | 0.00 | 169 |
2020-10-01 | $169,900 (13.7%) | $221,127 (10.4%) | 0.00 | 147 |
2020-11-01 | $159,225 (13.8%) | $221,735 (12.8%) | 0.00 | 146 |
2020-12-01 | $162,425 (13.2%) | $220,570 (10.8%) | 0.00 | 126 |
2021-01-01 | $149,900 (5.9%) | $210,071 (6.4%) | 0.00 | 104 |
2021-02-01 | $161,175 (16.0%) | $228,058 (16.7%) | 0.00 | 94 |
2021-03-01 | $149,900 (-4.0%) | $226,783 (9.7%) | 0.00 | 85 |
2021-04-01 | $173,425 (8.9%) | $248,833 (18.5%) | 0.00 | 90 |
2021-05-01 | $198,250 (17.3%) | $260,728 (23.1%) | 0.00 | 95 |
2021-06-01 | $200,000 (12.4%) | $283,315 (32.7%) | 0.00 | 116 |
2021-07-01 | $215,000 (34.4%) | $298,215 (39.3%) | 0.00 | 135 |
2021-08-01 | $221,900 (18.7%) | $314,434 (36.5%) | 0.00 | 144 |
2021-09-01 | $216,475 (15.5%) | $312,145 (38.4%) | 0.00 | 150 |
2021-10-01 | $205,000 (20.7%) | $293,464 (32.7%) | 0.00 | 145 |
2021-11-01 | $194,450 (22.1%) | $271,457 (22.4%) | 0.00 | 133 |
2021-12-01 | $189,000 (16.4%) | $246,086 (11.6%) | 0.00 | 119 |
2022-01-01 | $197,000 (31.4%) | $246,148 (17.2%) | 0.00 | 103 |
2022-02-01 | $209,450 (30.0%) | $245,947 (7.8%) | 0.00 | 82 |
2022-03-01 | $218,500 (45.8%) | $261,778 (15.4%) | 0.00 | 62 |
2022-04-01 | $215,000 (24.0%) | $268,780 (8.0%) | 0.00 | 67 |
2022-05-01 | $207,450 (4.6%) | $279,844 (7.3%) | 0.00 | 82 |
2022-06-01 | $204,425 (2.2%) | $303,011 (7.0%) | 0.00 | 109 |
2022-07-01 | $221,900 (3.2%) | $306,704 (2.9%) | 0.00 | 127 |
2022-08-01 | $223,150 (0.6%) | $307,525 (-2.2%) | 0.00 | 132 |
2022-09-01 | $207,450 (-4.2%) | $291,273 (-6.7%) | 0.00 | 147 |
2022-10-01 | $217,000 (5.9%) | $289,811 (-1.2%) | 0.00 | 135 |
2022-11-01 | $212,400 (9.2%) | $280,732 (3.4%) | 0.00 | 132 |
2022-12-01 | $199,900 (5.8%) | $263,518 (7.1%) | 0.00 | 114 |
2023-01-01 | $209,975 (6.6%) | $268,254 (9.0%) | 0.00 | 109 |
2023-02-01 | $213,750 (2.1%) | $262,345 (6.7%) | 0.00 | 107 |
Gloversville's median listing price comes in at 0% of the national average.
Gloversville's average listing price for 2023-02-01 was $262,345, a difference of $16,398 (6.7%) versus the prior year and $-5,909 versus the prior month.
For the 2023-02-01 period, Gloversville had 107 MLS listings, a difference of -2 listings (-2%) versus the prior month and 25 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gloversville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,625 sqft |
2018-02-01 | 0 days | 1,652 sqft |
2018-03-01 | 0 days | 1,623 sqft |
2018-04-01 | 0 days | 1,623 sqft |
2018-05-01 | 0 days | 1,608 sqft |
2018-06-01 | 0 days | 1,611 sqft |
2018-07-01 | 0 days | 1,624 sqft |
2018-08-01 | 0 days | 1,650 sqft |
2018-09-01 | 0 days | 1,622 sqft |
2018-10-01 | 0 days | 1,620 sqft |
2018-11-01 | 0 days | 1,620 sqft |
2018-12-01 | 0 days | 1,623 sqft |
2019-01-01 | 0 days | 1,624 sqft |
2019-02-01 | 0 days | 1,620 sqft |
2019-03-01 | 0 days | 1,623 sqft |
2019-04-01 | 0 days | 1,622 sqft |
2019-05-01 | 0 days | 1,640 sqft |
2019-06-01 | 0 days | 1,616 sqft |
2019-07-01 | 0 days | 1,609 sqft |
2019-08-01 | 0 days | 1,597 sqft |
2019-09-01 | 0 days | 1,580 sqft |
2019-10-01 | 0 days | 1,568 sqft |
2019-11-01 | 0 days | 1,568 sqft |
2019-12-01 | 0 days | 1,570 sqft |
2020-01-01 | 0 days | 1,566 sqft |
2020-02-01 | 0 days | 1,574 sqft |
2020-03-01 | 0 days | 1,604 sqft |
2020-04-01 | 0 days | 1,581 sqft |
2020-05-01 | 0 days | 1,592 sqft |
2020-06-01 | 0 days | 1,605 sqft |
2020-07-01 | 0 days | 1,554 sqft |
2020-08-01 | 0 days | 1,647 sqft |
2020-09-01 | 0 days | 1,700 sqft |
2020-10-01 | 0 days | 1,700 sqft |
2020-11-01 | 0 days | 1,708 sqft |
2020-12-01 | 0 days | 1,674 sqft |
2021-01-01 | 0 days | 1,687 sqft |
2021-02-01 | 0 days | 1,700 sqft |
2021-03-01 | 0 days | 1,614 sqft |
2021-04-01 | 0 days | 1,663 sqft |
2021-05-01 | 0 days | 1,616 sqft |
2021-06-01 | 0 days | 1,563 sqft |
2021-07-01 | 0 days | 1,694 sqft |
2021-08-01 | 0 days | 1,636 sqft |
2021-09-01 | 0 days | 1,606 sqft |
2021-10-01 | 0 days | 1,682 sqft |
2021-11-01 | 0 days | 1,665 sqft |
2021-12-01 | 0 days | 1,668 sqft |
2022-01-01 | 0 days | 1,796 sqft |
2022-02-01 | 0 days | 1,760 sqft |
2022-03-01 | 0 days | 1,706 sqft |
2022-04-01 | 0 days | 1,689 sqft |
2022-05-01 | 0 days | 1,525 sqft |
2022-06-01 | 0 days | 1,544 sqft |
2022-07-01 | 0 days | 1,581 sqft |
2022-08-01 | 0 days | 1,561 sqft |
2022-09-01 | 0 days | 1,518 sqft |
2022-10-01 | 0 days | 1,527 sqft |
2022-11-01 | 0 days | 1,538 sqft |
2022-12-01 | 0 days | 1,520 sqft |
2023-01-01 | 0 days | 1,520 sqft |
2023-02-01 | 0 days | 1,528 sqft |
Gloversville's median square footage for active listings during the 2023-02-01 period was 1,528 sqft. One year prior, the average listing was 1,760 sqft.
Gloversville, NY Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 722 | $133,160,000 | $184,432 |
Refi | 362 | $55,400,000 | $153,039 |
Cash Out Refi | 228 | $38,620,000 | $169,386 |
Home Improvement | 114 | $9,340,000 | $81,930 |
Other | 60 | $6,550,000 | $109,167 |
Gloversville's most frequently cited loan purpose was Home Purchase, with 722 originations. The 2nd most popular reason was Refi, with 362 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 590 | $93,050,000 | $157,712 |
2.5-3% | 553 | $90,005,000 | $162,758 |
<2.5% | 188 | $30,540,000 | $162,447 |
4-5% | 54 | $6,970,000 | $129,074 |
5-6% | 14 | $1,260,000 | $90,000 |
6-7% | 10 | $580,000 | $58,000 |
7-8% | 6 | $300,000 | $50,000 |
During 2021, Gloversville's most frequently originated rate bucket was 3-4%, with 590 originations.
Loan Sizing (Gloversville, NY MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 634 | $91,470,000 | $144,274 |
$100,000 or less | 483 | $32,445,000 | $67,174 |
$200k-400k | 324 | $85,710,000 | $264,537 |
$400k-600k | 32 | $15,530,000 | $485,313 |
$600k-1000k | 11 | $7,985,000 | $725,909 |
$Over $1MM | 2 | $9,930,000 | $4,965,000 |
Gloversville's loan sizing saw the bucket of loans from $100k-200k with 634 originations, totaling $91,470,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 629 | $109,085,000 | $173,426 |
60-80% | 419 | $77,485,000 | $184,928 |
40-60% | 169 | $24,495,000 | $144,941 |
20-40% | 107 | $10,165,000 | $95,000 |
Under 20% | 58 | $2,250,000 | $38,793 |
Over 100% | 21 | $5,225,000 | $248,810 |
Gloversville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 629 originations, totaling $109,085,000 in origination value.