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Hanover Community Bank

Bank•Garden City Park, NYHQ•Direct & Wholesale•Reviews near you on Google

Hanover Community Bank has 59 closed loans in our dataset — fully analyzed and benchmarked against peers across the 5 Ps of Mortgage Shopping.

Safe Rate Ratings· each scored 1–5 against peer lenders
Pricing
Mediocre
1/5
vs. all lenders
Pull-through
Acceptable
2/5
closing strength
Product
Acceptable
2/5
Conventional
Place
Sound
3/5
Single State · 2 mkts

Safe Rate Summary

Things to Think About

  • Rates typically 144 basis points above market average
  • Higher than average fees ($6,024)
  • Pull through efficiency is below industry average

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Report Card

Hanover Community Bank performance at a glance

Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+144.2 bps above market avg
Pull Through
Closing strength
Acceptable
Bottom 40% of lenders
By Loan Product· Specialization by type
Conventional
Acceptable
Bottom 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Acceptable
Bottom 40% of lenders
By Location· Geographic coverage
Geographic Reach
Single State · 2 markets
Sound
Top 60% of lenders

Loan Product Performance

Performance by Loan Product

Conventional
Overall
Mediocre
Product
Acceptable
Pricing
Mediocre
Pull Through
Acceptable
Volume59
Mix100.0%
Spread
+1.442%Above
Fees
$6,024Fees

Loan Purpose Performance

Performance by Loan Purpose

Purchase
Overall
Mediocre
Product
Acceptable
Pricing
Mediocre
Pull Through
Acceptable
Volume53
Mix89.8%
Spread
+1.431%Above
Fees
$6,098Fees

At a Glance

Lender Overview

Lending Activity
Loans Originated
59
Applications
96
Volume
$31 million
Pricing & Closing
Avg Rate Spread
+1.442%
vs. market APOR
Avg Net Fees
$6,024
Origination − Credits
Pullthrough Rate
61.5%
Applications → Closed
Typical Borrower
Avg Loan Amount
$532,966
Avg Borrower Income
$153,525
Avg Property Value
$871,949

Geographic Coverage

Geographic Performance

Metro Areas
2
markets with activity
States Served
1
of 50 states + DC
Avg Place Specialization
Sound
3/5

States with Loan Originations

1
1 states with loan originationsAlaskaAlabamaArkansasArizonaCaliforniaColoradoConnecticutWashington, DCDelawareFloridaGeorgiaHawaiiIowaIdahoIllinoisIndianaKansasKentuckyLouisianaMassachusettsMarylandMaineMichiganMinnesotaMissouriMississippiMontanaNorth CarolinaNorth DakotaNebraskaNew HampshireNew JerseyNew MexicoNevadaNew YorkOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVirginiaVermontWashingtonWisconsinWest VirginiaWyoming
Northeast1
NY

Top Metro Areas by Place Specialization Score

1© Dllu · CC BY-SA 4.0
New York, NY-NJMetro
Volume 41Mix 69.49% of portfolio
64/100
Strong
2© Dicklyon · CC BY-SA 4.0
Nassau County, NYMetro
Volume 17Mix 28.81% of portfolio
54/100
Sound

Top States by Place Specialization Score

New York
New York
1
New YorkState
Volume 59Mix 100.00% of portfolio
65/100
Strong

How We Rank Lenders

Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.

Our Point System (Max 30 Points)

10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.