Newton Federal Bank Mortgage Rates, Fees & Info

COVINGTON, GA

LEI: 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

51

Origination Dollar Volume (All Markets)

$9,075,000

Top 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%
Newton Federal Bank's top markets include Atlanta, Athens, and Milledgeville among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 25 $3,095,000 $123,800 $0 0.00%
    Home Purchase 24 $4,440,000 $185,000 $0 0.00%
    Home Improvement 1 $1,505,000 $1,505,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 20 $3,020,000 $151,000 $0 0.00%
    $100,000 or less 19 $1,155,000 $60,789 $0 0.00%
    $200k-400k 9 $2,385,000 $265,000 $0 0.00%
    $400k-600k 2 $1,010,000 $505,000 $0 0.00%
    $1MM+ 1 $1,505,000 $1,505,000 $0 0.00%

    2019 saw Newton Federal Bank place emphasis on $100k-200k loans with 20 originations, totaling $3,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 13 $1,125,000 $86,538 $0 0.00%
    $50k-75k 9 $1,275,000 $141,667 $0 0.00%
    $75k-100k 9 $1,115,000 $123,889 $0 0.00%
    $100k-150k 6 $1,300,000 $216,667 $0 0.00%
    $150k-250k 2 $730,000 $365,000 $0 0.00%
    $250k+ 1 $165,000 $165,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $4,885,000 $148,030 $0 0.00%
    Not applicable 9 $3,025,000 $336,111 $0 0.00%
    Black 6 $860,000 $143,333 $0 0.00%
    Not provided 2 $200,000 $100,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    66.67%

    Newton Federal Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    64.71%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,760,000 $880,000
    Single Family (1-4 Units):Manufactured 3 $105,000 $35,000
    Single Family (1-4 Units):Site-Built 46 $7,210,000 $156,739