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 Refi and Home Purchase loans. Newton Federal Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Athens, and Milledgeville among others. We have data for 3 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.
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Originations
51Origination Dollar Volume (All Markets)
$9,075,000Top 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) | 47 | $7,795,000 | $165,851 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| Milledgeville, GA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $9,075,000 | $177,941 | $0 | 0.00% |
For 2019, Newton Federal Bank's most frequently originated type of loan was Conventional, with 51 originations.
Loan Reason
For 2019, Newton Federal Bank's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 51 | $9,075,000 | $177,941 | $0 | 0.00% |
For 2019, Newton Federal Bank's most frequently cited loan duration was Other, with 51 originations.
Loan Sizing
2019 saw Newton Federal Bank place emphasis on $100k-200k loans with 20 originations, totaling $3,020,000 in origination value.
Applicant Income
Newton Federal Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 51 | $9,075,000 | $177,941 | $0 | 0.00% |
Newton Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.67%
Newton Federal Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination64.71%
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 | 51 | $9,075,000 | $177,941 |