Belmont Savings Bank Ssb Mortgage Rates, Fees & Info

Belmont, NC

LEI: 254900LVZ1O44BCREK60

Tax ID: 56-0138905

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Belmont Savings Bank Ssb is a smaller bank specializing in Home Purchase and Refi loans. Belmont Savings Bank Ssb has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Hickory, and Shelby among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Belmont Savings Bank Ssb has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Belmont Savings Bank Ssb is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    Originations

    61

    Origination Dollar Volume (All Markets)

    $14,185,000

    Employee count

    10

    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 58 $13,550,000 $233,621 $5,268 4.13%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $335,000 $335,000 $6,912 4.75%
    Shelby, NC (FHA|USDA|VA) 2 $300,000 $150,000 $4,770 3.44%
    Belmont Savings Bank Ssb's top markets include Charlotte, Hickory, and Shelby among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Belmont Savings Bank SSB based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Belmont Savings Bank, SSB
    Similarity Rank: 897
    Arrowpointe Federal Credit Union
    Similarity Rank: 1316
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1740
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1938
    Whitley Mortgage Associates, Inc.
    Similarity Rank: 2401
    Aurora Financial, LLC
    Similarity Rank: 2555
    CAROLINAS TELCO FEDERAL CREDIT UNION
    Similarity Rank: 2832
    Peoples Bank
    Similarity Rank: 3150
    Shea Mortgage Inc.
    Similarity Rank: 3956
    NORTHERN MORTGAGE SERVICES, LLC
    Similarity Rank: 4087

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 61 $14,185,000 $232,541 $5,280 4.12%

    For 2019, Belmont Savings Bank Ssb's most frequently originated type of loan was Conventional, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $5,900,000 $268,182 $5,799 4.14%
    Refi 19 $3,465,000 $182,368 $4,471 4.05%
    Cash Out Refi 8 $1,820,000 $227,500 $5,537 4.33%
    Home Improvement 6 $1,630,000 $271,667 $5,517 4.08%
    Other 5 $1,105,000 $221,000 $5,307 4.08%
    NA 1 $265,000 $265,000 $5,546 3.75%

    For 2019, Belmont Savings Bank Ssb's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20 $5,080,000 $254,000 $5,500 4.11%
    30+ year 15 $5,345,000 $356,333 $7,185 4.10%
    15 Year 14 $1,660,000 $118,571 $3,456 4.37%
    20 Year 7 $1,035,000 $147,857 $3,734 3.80%
    Other 5 $1,065,000 $213,000 $5,319 3.98%

    For 2019, Belmont Savings Bank Ssb's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 30+ year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 15 $1,285,000 $85,667
    $2k-3k 15 $2,625,000 $175,000
    $3k-4k 11 $2,945,000 $267,727
    $4k-5k 9 $3,155,000 $350,556
    $5k+ 6 $2,880,000 $480,000
    $<1k 2 $530,000 $265,000

    Belmont Savings Bank Ssb's average total fees were $5,500, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 40 $9,080,000 $227,000
    4-5% 15 $4,125,000 $275,000
    5-6% 3 $465,000 $155,000
    6-7% 3 $515,000 $171,667

    During 2019, Belmont Savings Bank Ssb's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 26 $7,300,000 $280,769 $5,894 4.10%
    $100k-200k 19 $2,845,000 $149,737 $3,950 4.20%
    $100,000 or less 9 $575,000 $63,889 $3,244 4.15%
    $400k-600k 6 $2,660,000 $443,333 $8,735 3.94%
    $600k-1MM 1 $805,000 $805,000 $12,074 4.13%

    2019 saw Belmont Savings Bank Ssb place emphasis on $200k-400k loans with 26 originations, totaling $7,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $4,735,000 $249,211 $5,551 4.26%
    $50k-75k 12 $1,590,000 $132,500 $3,759 4.02%
    $150k-250k 11 $3,295,000 $299,545 $6,208 3.98%
    $75k-100k 10 $2,270,000 $227,000 $5,693 4.16%
    $250k+ 4 $1,250,000 $312,500 $6,232 4.38%
    $50k or less 2 $130,000 $65,000 $4,189 3.31%

    Belmont Savings Bank Ssb lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $4,815,000 $253,421 $5,612 3.76%
    <20% 15 $2,945,000 $196,333 $5,061 4.01%
    30-36% 13 $2,885,000 $221,923 $4,845 4.33%
    38% 2 $380,000 $190,000 $4,526 3.63%
    37% 1 $455,000 $455,000 $10,666 3.75%
    36% 1 $155,000 $155,000 $3,928 4.00%
    39% 1 $405,000 $405,000 $7,154 3.75%
    40% 1 $195,000 $195,000 $4,869 6.00%
    42% 1 $455,000 $455,000 $8,129 3.88%
    43% 1 $185,000 $185,000 $0 6.13%
    44% 1 $275,000 $275,000 $8,263 6.25%

    Belmont Savings Bank Ssb lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 57 $12,845,000 $225,351 $5,225 4.10%
    Black 2 $760,000 $380,000 $6,822 4.31%
    Not applicable 2 $580,000 $290,000 $0 4.44%

    Approval Rates

    Total approvals of all applications
    100.00%

    Belmont Savings Bank Ssb has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    98.36%

    Belmont Savings Bank Ssb has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 61 $14,185,000 $232,541

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 61 $14,185,000 $232,541

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $825,000 $91,667 $3,384 3.78%
    40-60% 7 $1,075,000 $153,571 $3,803 4.27%
    60-80% 38 $10,450,000 $275,000 $5,960 4.14%
    80-100% 6 $1,650,000 $275,000 $5,337 4.00%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Belmont Savings Bank, SSB 210 Park Street Belmont, NC 28012 Full Service B&M $72,441

    For 2019, Belmont Savings Bank Ssb had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,514
    Net interest income $2,569
    Total noninterest income $43
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $22
    Trading account gains and fees $0
    Additional Noninterest Income $21
    Pre-tax net operating income $358
    Securities gains (or losses, -) $0
    Income before extraordinary items $284
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $284
    Minority interest net income $0
    Net income $284
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $284

    Belmont Savings Bank Ssb's gross interest income from loans was $3,514,000.
    Belmont Savings Bank Ssb's net interest income from loans was $2,569,000.
    Belmont Savings Bank Ssb's fee based income from loans was $22,000.
    Belmont Savings Bank Ssb's net income from loans was $284,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $945
    Provision for credit losses $0
    Total noninterest expense $2,254
    Salaries and employee benefits $1,308
    Premises and equipment expense $210
    Additional noninterest expense $736
    Applicable income taxes $74
    Net charge-offs $0
    Cash dividends $0

    Belmont Savings Bank Ssb's interest expense for loans was $945,000.
    Belmont Savings Bank Ssb's payroll and benefits expense were $1,308,000.
    Belmont Savings Bank Ssb's property, plant and equipment expenses $210,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $72,120
    Deposits held in domestic offices $72,120
    Deposits by Individuals, partnerships, and corporations $72,120
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $6,442
    Demand deposits $6,411
    Nontransaction accounts $65,678
    Money market deposit accounts (MMDAs) $8,113
    Other savings deposits (excluding MMDAs) $8,022
    Total time deposits $49,543
    Total time and savings deposits $65,709
    Noninterest-bearing deposits $1,777
    Interest-bearing deposits $70,343
    Retail deposits $51,332
    IRAs and Keogh plan accounts $7,655
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $91,409
    Cash & Balances due from depository institutions $12,323
    Interest-bearing balances $10,609
    Total securities $4,132
    Federal funds sold & reverse repurchase $0
    Net loans and leases $71,241
    Loan and leases loss allowance $263
    Trading account assets $0
    Bank premises and fixed assets $3,013
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $700

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $91,409
    Total Liabilities $72,464
    Total deposits $72,120
    Interest-bearing deposits $70,343
    Deposits held in domestic offices $72,120
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $344

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $71,241
    Loan and leases loss allowance $263
    Total loans and leases (domestic) $71,504
    All real estate loans $71,981
    Real estate loans in domestic offices $71,981
    Construction and development loans $5,009
    Residential 1-4 family construction $4,584
    Other construction, all land development and other land $425
    Loans secured by nonfarm nonresidential properties $1,345
    Nonfarm nonresidential secured by owner-occupied properties $41
    Commercial real estate & other non-farm, non-residential $1,304
    Multifamily residential real estate $783
    1-4 family residential loans $64,844
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $15
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $15
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $174
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Belmont Savings Bank SSB had $71,241,000 of loans outstanding in 2019. $71,981,000 of loans were in real estate loans. $5,009,000 of loans were in development loans. $783,000 of loans were in multifamily mortgage loans. $64,844,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 11 $1,345 $122,273
    Nonfarm, nonresidential loans - <$100k 5 $177 $35,400
    Nonfarm, nonresidential loans - $100-250k 4 $480 $120,000
    Nonfarm, nonresidential loans - $250k-1MM 2 $688 $344,000