Newton Federal Bank Mortgage Rates, Fees & Info
COVINGTON, GALEI: 2549002AEOG52GLE5B68
Tax ID: 30-1030292
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Mortgage Data
Review & Overview
Newton Federal Bank is a smaller bank specializing in Home Purchase loans. Newton Federal Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Gainesville, Athens, Talladega, and Macon among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Newton Federal Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
103Origination Dollar Volume (All Markets)
$17,615,000Top 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) | 87 | $13,995,000 | $160,862 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $800,000 | $200,000 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| DALTON, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 103 | $17,615,000 | $171,019 | $0 | 0.00% |
For 2018, Newton Federal Bank's most frequently originated type of loan was Conventional, with 103 originations.
Loan Reason
For 2018, Newton Federal Bank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 103 | $17,615,000 | $171,019 | $0 | 0.00% |
For 2018, Newton Federal Bank's most frequently cited loan duration was Other, with 103 originations.
Loan Sizing
2018 saw Newton Federal Bank place emphasis on $100,000 or less loans with 36 originations, totaling $2,000,000 in origination value.
Applicant Income
Newton Federal Bank lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 103 | $17,615,000 | $171,019 | $0 | 0.00% |
Newton Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 103 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.86%
Newton Federal Bank has a below average approval rate.
Pick Rate
Approvals leading to origination64.08%
Newton Federal Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 103 | $17,615,000 | $171,019 |