Newton Federal Bank Mortgage Rates, Fees & Info
COVINGTON, GALEI: 2549002AEOG52GLE5B68
Tax ID: 30-1030292
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Newton Federal Bank is a smaller bank specializing in Home Purchase and Refi loans. Newton Federal Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Deltona, Savannah, Nashville, and Birmingham among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Newton Federal Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
24Origination Dollar Volume (All Markets)
$8,740,000Top 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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 17 | $4,605,000 | $270,882 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $1,730,000 | $865,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $1,235,000 | $1,235,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $8,740,000 | $364,167 | $0 | 0.00% |
For 2023, Newton Federal Bank's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $5,595,000 | $508,636 | $0 | 0.00% |
| Refi | 9 | $2,865,000 | $318,333 | $0 | 0.00% |
| Other | 4 | $280,000 | $70,000 | $0 | 0.00% |
For 2023, Newton Federal Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 24 | $8,740,000 | $364,167 | $0 | 0.00% |
For 2023, Newton Federal Bank's most frequently cited loan duration was Other, with 24 originations.
Loan Sizing
2023 saw Newton Federal Bank place emphasis on $100,000 or less loans with 10 originations, totaling $510,000 in origination value.
Applicant Income
Newton Federal Bank lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 24 | $8,740,000 | $364,167 | $0 | 0.00% |
Newton Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 24 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 17 | $7,925,000 | $466,176 | $0 | 0.00% |
| Not applicable | 4 | $660,000 | $165,000 | $0 | 0.00% |
| Black | 3 | $155,000 | $51,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications65.91%
Newton Federal Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination83.33%
Newton Federal Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 24 | $8,740,000 | $364,167 |