Saratoga National Bank And Trust Company Mortgage Rates, Fees & Info

Saratoga Springs, NY

LEI: 5493002JNEZK52NOPC21

Tax ID: 14-1708496

5 stars - Updated: 12/16/24 - out of 5 stars, based on 18 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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)

    • Review & Overview

    Saratoga National Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Saratoga National Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Gloversville, Plattsburgh, and Amsterdam among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Saratoga National Bank And Trust Company 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. Saratoga National Bank And Trust Company is typically a low 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 relatively high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.93% 12/16/24
    30 Year Conventional Purchase 6.46% 12/16/24
    30 Year Conventional Refi 7.17% 12/16/24
    30 Year Cash-out Refi 6.57% 12/16/24
    15 Year Conventional Purchase 5.84% 12/16/24
    15 Year Conventional Refi 6.20% 12/16/24
    15 Year Cash-out Refi 6.20% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Saratoga National Bank And Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Saratoga National Bank And Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    336

    Origination Dollar Volume (All Markets)

    $123,620,000
    Show all (5) awards

    Relative Rate

    Saratoga National Bank And Trust Company's average 30 year fixed mortgage rate was 5.18%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -1.3%.

    Relative Fees (Closing Costs)

    Saratoga National Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,993.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 310 $116,350,000 $375,323 $5,126 5.30%
    GLENS FALLS, NY (FHA|USDA|VA) 21 $5,975,000 $284,524 $3,489 5.62%
    Gloversville, NY (FHA|USDA|VA) 2 $630,000 $315,000 $7,997 5.13%
    Outside of Metro Areas 1 $545,000 $545,000 $7,069 5.13%
    Plattsburgh, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.99%
    Amsterdam, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.99%
    Saratoga National Bank And Trust Company's top markets include Albany, Glens Falls, Gloversville, Plattsburgh, and Amsterdam among others.

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

    • Similar Lenders

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

    Bank of Richmondville
    Similarity Rank: 32
    Saratoga National Bank and Trust Company
    Similarity Rank: 90
    Glens Falls National Bank and Trust Company
    Similarity Rank: 135
    HUDSON RIVER COMMUNITY
    Similarity Rank: 138
    FIRST NEW YORK
    Similarity Rank: 300
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 405
    HUDSON VALLEY CREDIT UNION
    Similarity Rank: 420
    TrustCo Bank
    Similarity Rank: 588
    Chemung Canal Trust Company
    Similarity Rank: 624
    SEFCU SERVICES, LLC
    Similarity Rank: 868

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 240 $113,590,000 $473,292 $5,034 5.68%
    HELOC 96 $10,030,000 $104,479 n/a 4.40%

    For 2023, Saratoga National Bank And Trust Company's most frequently originated type of loan was Conventional, with 240 originations. Their 2nd most popular type was HELOC, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 227 $108,575,000 $478,304 $5,097 5.58%
    Home Improvement 73 $10,135,000 $138,836 $4,790 4.62%
    Other 18 $1,770,000 $98,333 $2,673 4.85%
    Refi 13 $1,675,000 $128,846 $0 4.69%
    Cash Out Refi 5 $1,465,000 $293,000 $5,304 6.68%

    For 2023, Saratoga National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Home Improvement, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 252 $74,640,000 $296,190 $3,993 5.18%
    30+ year 55 $37,905,000 $689,182 $8,256 5.33%
    Other 12 $4,370,000 $364,167 $0 6.78%
    10 Year 9 $5,295,000 $588,333 $1,831 6.29%
    15 Year 5 $1,005,000 $201,000 $3,599 5.60%
    20 Year 3 $405,000 $135,000 $0 7.25%

    For 2023, Saratoga National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 252 originations. The 2nd most popular length was 30+ year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 129 $50,365,000 $390,426
    $1k-2k 53 $26,175,000 $493,868
    $2k-3k 11 $7,075,000 $643,182
    $5k+ 9 $8,005,000 $889,444
    $3k-4k 8 $5,760,000 $720,000
    $4k-5k 4 $4,100,000 $1,025,000

    Saratoga National Bank And Trust Company's average total fees were $3,993, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 129 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 90 $49,210,000 $546,778
    6-7% 88 $26,050,000 $296,023
    3-4% 81 $15,375,000 $189,815
    4-5% 61 $27,325,000 $447,951
    7-8% 10 $4,640,000 $464,000
    2.5-3% 4 $790,000 $197,500
    Over 8% 1 $85,000 $85,000
    <2.5% 1 $145,000 $145,000

    During 2023, Saratoga National Bank And Trust Company's average interest rate for loans was 5.18%, while their most frequently originated rate bucket for loans was 5-6%, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 93 $25,955,000 $279,086 $3,951 5.63%
    $100,000 or less 68 $3,580,000 $52,647 $1,595 4.69%
    $100k-200k 61 $9,205,000 $150,902 $3,096 5.55%
    $400k-600k 57 $27,465,000 $481,842 $4,887 5.40%
    $600k-1MM 33 $24,485,000 $741,970 $6,196 5.36%
    $1MM+ 24 $32,930,000 $1,372,083 $11,447 5.02%

    2023 saw Saratoga National Bank And Trust Company place emphasis on $200k-400k loans with 93 originations, totaling $25,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 86 $55,780,000 $648,605 $7,127 5.13%
    $150k-250k 76 $26,250,000 $345,395 $4,579 5.29%
    $100k-150k 75 $18,355,000 $244,733 $4,445 5.35%
    $50k-75k 38 $5,090,000 $133,947 $2,906 5.41%
    $75k-100k 33 $5,845,000 $177,121 $3,369 5.36%
    $50k or less 13 $1,475,000 $113,462 $2,960 5.65%

    Saratoga National Bank And Trust Company lent most frequently to those with incomes in the $250k+ range, with 86 originations. The second most popular income band? $150k-250k, with 76 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 75 $26,685,000 $355,800 $4,936 5.39%
    20-30% 67 $25,635,000 $382,612 $4,872 5.20%
    42% 55 $14,695,000 $267,182 $5,214 4.82%
    41% 23 $8,515,000 $370,217 $5,077 5.31%
    <20% 22 $11,270,000 $512,273 $5,828 5.15%
    39% 19 $7,545,000 $397,105 $5,517 5.50%
    38% 16 $4,270,000 $266,875 $4,430 5.75%
    37% 14 $3,300,000 $235,714 $3,635 5.88%
    40% 12 $4,910,000 $409,167 $6,450 5.48%
    36% 10 $4,190,000 $419,000 $5,205 5.47%
    44% 5 $1,335,000 $267,000 $2,728 5.87%
    45% 4 $1,760,000 $440,000 $5,297 6.13%
    43% 3 $665,000 $221,667 $5,644 3.79%
    46% 1 $285,000 $285,000 $4,377 6.38%
    47% 1 $405,000 $405,000 $0 3.99%

    Saratoga National Bank And Trust Company lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 254 $85,210,000 $335,472 $5,116 5.24%
    Not provided 49 $19,135,000 $390,510 $4,378 5.40%
    Asian 18 $9,440,000 $524,444 $5,839 5.30%
    Not applicable 9 $8,155,000 $906,111 $3,569 6.52%
    Black 5 $1,125,000 $225,000 $4,633 6.20%
    American Indian 1 $555,000 $555,000 $4,381 5.00%

    Approval Rates

    Total approvals of all applications
    86.29%

    Saratoga National Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.40%

    Saratoga National Bank And Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 336 $123,620,000 $367,917

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    336 $123,620,000 $367,917

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $6,795,000 $174,231 $3,354 4.86%
    40-60% 31 $8,175,000 $263,710 $4,639 5.30%
    60-80% 84 $45,160,000 $537,619 $6,083 5.61%
    80-100% 126 $59,880,000 $475,238 $4,754 5.65%
    Under 20% 56 $3,610,000 $64,464 $0 4.46%