Belmont Savings Bank Ssb Mortgage Rates, Fees & Info

Belmont, NC

LEI: 254900LVZ1O44BCREK60

Tax ID: 56-0138905

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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 loans. Belmont Savings Bank Ssb has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Boone, 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.

    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.

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    Originations

    84

    Origination Dollar Volume (All Markets)

    $24,970,000

    Employee count

    12

    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) 82 $24,150,000 $294,512 $0 0.00%
    Boone, NC (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
    Shelby, NC (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    Belmont Savings Bank Ssb's top markets include Charlotte, Boone, 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.

    Aurora Financial, LLC
    Similarity Rank: 1825
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1980
    Peoples Bank
    Similarity Rank: 2440
    Shea Mortgage Inc.
    Similarity Rank: 2774
    Countybank
    Similarity Rank: 2940
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 3008
    Opendoor Home Loans LLC
    Similarity Rank: 3024
    Arthur State Bank
    Similarity Rank: 3451
    Corporate Investors Mortgage Group, Inc.
    Similarity Rank: 4625
    AMERICAN FEDERAL MORTGAGE CORPORATION
    Similarity Rank: 5671

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 84 $24,970,000 $297,262 $0 0.00%

    For 2021, Belmont Savings Bank Ssb's most frequently originated type of loan was Conventional, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $17,050,000 $370,652 $0 0.00%
    Refi 22 $4,030,000 $183,182 $0 0.00%
    Cash Out Refi 11 $2,215,000 $201,364 $0 0.00%
    Home Improvement 5 $1,675,000 $335,000 $0 0.00%

    For 2021, Belmont Savings Bank Ssb's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 84 $24,970,000 $297,262 $0 0.00%

    For 2021, Belmont Savings Bank Ssb's most frequently cited loan duration was Other, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 30 $8,510,000 $283,667 $0 0.00%
    $100k-200k 23 $3,545,000 $154,130 $0 0.00%
    $400k-600k 21 $9,805,000 $466,905 $0 0.00%
    $100,000 or less 7 $395,000 $56,429 $0 0.00%
    $600k-1MM 2 $1,310,000 $655,000 $0 0.00%
    $1MM+ 1 $1,405,000 $1,405,000 $0 0.00%

    2021 saw Belmont Savings Bank Ssb place emphasis on $200k-400k loans with 30 originations, totaling $8,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 22 $8,040,000 $365,455 $0 0.00%
    $100k-150k 17 $5,765,000 $339,118 $0 0.00%
    $75k-100k 14 $3,560,000 $254,286 $0 0.00%
    $50k-75k 10 $1,690,000 $169,000 $0 0.00%
    $250k+ 9 $4,005,000 $445,000 $0 0.00%
    $50k or less 9 $905,000 $100,556 $0 0.00%

    Belmont Savings Bank Ssb lent most frequently to those with incomes in the $150k-250k range, with 22 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 84 $24,970,000 $297,262 $0 0.00%

    Belmont Savings Bank Ssb lent most frequently to those with DTI ratios of Exempt%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $23,345,000 $295,506 $0 0.00%
    Not applicable 2 $670,000 $335,000 $0 0.00%
    Asian 1 $475,000 $475,000 $0 0.00%
    American Indian 1 $345,000 $345,000 $0 0.00%
    Black 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.56%

    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
    97.62%

    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
    Exempt 84 $24,970,000 $297,262

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    84 $24,970,000 $297,262

    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 $87,723

    For 2021, Belmont Savings Bank Ssb had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,475
    Net interest income $3,043
    Total noninterest income $32
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $21
    Trading account gains and fees $0
    Additional Noninterest Income $11
    Pre-tax net operating income $467
    Securities gains (or losses, -) $-21
    Income before extraordinary items $352
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $352
    Minority interest net income $0
    Net income $352
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $368

    Belmont Savings Bank Ssb's gross interest income from loans was $3,475,000.
    Belmont Savings Bank Ssb's net interest income from loans was $3,043,000.
    Belmont Savings Bank Ssb's fee based income from loans was $21,000.
    Belmont Savings Bank Ssb's net income from loans was $352,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $432
    Provision for credit losses $6
    Total noninterest expense $2,602
    Salaries and employee benefits $1,604
    Premises and equipment expense $212
    Additional noninterest expense $786
    Applicable income taxes $94
    Net charge-offs $0
    Cash dividends $0

    Belmont Savings Bank Ssb's interest expense for loans was $432,000.
    Belmont Savings Bank Ssb's payroll and benefits expense were $1,604,000.
    Belmont Savings Bank Ssb's property, plant and equipment expenses $212,000.

    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 $89,636
    Deposits held in domestic offices $89,636
    Deposits by Individuals, partnerships, and corporations $89,636
    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 $10,061
    Demand deposits $9,878
    Nontransaction accounts $79,575
    Money market deposit accounts (MMDAs) $21,036
    Other savings deposits (excluding MMDAs) $10,711
    Total time deposits $47,827
    Total time and savings deposits $79,758
    Noninterest-bearing deposits $3,648
    Interest-bearing deposits $85,988
    Retail deposits $67,065
    IRAs and Keogh plan accounts $6,963
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $109,975
    Cash & Balances due from depository institutions $22,300
    Interest-bearing balances $20,289
    Total securities $7,421
    Federal funds sold & reverse repurchase $0
    Net loans and leases $75,797
    Loan and leases loss allowance $275
    Trading account assets $0
    Bank premises and fixed assets $2,867
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,590

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $109,975
    Total Liabilities $90,065
    Total deposits $89,636
    Interest-bearing deposits $85,988
    Deposits held in domestic offices $89,636
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $429

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $75,797
    Loan and leases loss allowance $275
    Total loans and leases (domestic) $76,072
    All real estate loans $76,633
    Real estate loans in domestic offices $76,633
    Construction and development loans $5,304
    Residential 1-4 family construction $4,008
    Other construction, all land development and other land $1,296
    Loans secured by nonfarm nonresidential properties $2,945
    Nonfarm nonresidential secured by owner-occupied properties $21
    Commercial real estate & other non-farm, non-residential $2,924
    Multifamily residential real estate $886
    1-4 family residential loans $67,498
    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 $8
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $8
    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 $479
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Belmont Savings Bank SSB had $75,797,000 of loans outstanding in 2021. $76,633,000 of loans were in real estate loans. $5,304,000 of loans were in development loans. $886,000 of loans were in multifamily mortgage loans. $67,498,000 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 16 $2,945 $184,063
    Nonfarm, nonresidential loans - <$100k 6 $249 $41,500
    Nonfarm, nonresidential loans - $100-250k 6 $810 $135,000
    Nonfarm, nonresidential loans - $250k-1MM 4 $1,886 $471,500