# Hanover Community Bank

> **Canonical URL:** https://saferate.com/lenders/hanover-community-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Hanover Community Bank is a bank, headquartered in Garden City Park, NY, with 59 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 99% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 69% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 5493006F1L6NRWMNY260
- **Headquarters:** Garden City Park, NY
- **Geographic Reach:** Single State
- **States Served:** 1
- **State List:** NY
- **Markets (MSAs):** 2
- **Primary Channel:** mix
- **Direct Origination:** 76%
- **Brokered/Wholesale:** 24%

## Safe Rate Ratings

### Pricing: Mediocre 😐
- Score: 1/100
- Rating: ●○○○○ (1/5)

### Pull Through: Acceptable 🙂
- Score: 31/100
- Rating: ●●○○○ (2/5)

### Pricing Details
- **Average Rate Spread:** +1.442%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $6,024
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 59
- **Dollar Volume:** $31 million
- **Applications Received:** 96
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $532,966
- **Average Borrower Income:** $153,525
- **Average Property Value:** $871,949

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 24/100 | 59 | +1.442% | $6,024 | Acceptable 🙂 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 53 loans, Score: 26/100 (Acceptable)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 27/100 | 53 | $29M | +1.431% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| NY | 59 | 0.05% | 65/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| New York | NY-NJ | 41 | 64/100 |
| Nassau County | NY | 17 | 54/100 |

## Frequently Asked Questions

### What loan types does Hanover Community Bank offer?

Hanover Community Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Hanover Community Bank offer mortgages?

Hanover Community Bank offers mortgages in 1 states: NY.

### How competitive are Hanover Community Bank's mortgage rates?

Hanover Community Bank has a pricing score of 1/100 (Mediocre), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 1.442% above market average.

### What type of lender is Hanover Community Bank?

Hanover Community Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Garden City Park, NY.

### What is Hanover Community Bank's loan approval success rate?

Hanover Community Bank has a pull-through score of 31/100 (Acceptable). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/hanover-community-bank

### How to Cite

> "Hanover Community Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/hanover-community-bank

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