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

Saratoga Springs, NY

LEI: 5493002JNEZK52NOPC21

Tax ID: 14-1708496

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Mortgage Data

Bank Data

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, and Amsterdam among others. We have data for 5 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 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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.93% 3/28/24
30 Year Conventional Purchase 6.46% 3/28/24
30 Year Conventional Refi 7.17% 3/28/24
30 Year Cash-out Refi 6.57% 3/28/24
15 Year Conventional Purchase 5.84% 3/28/24
15 Year Conventional Refi 6.20% 3/28/24
15 Year Cash-out Refi 6.20% 3/28/24
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

302

Origination Dollar Volume (All Markets)

$77,740,000

Employee count

54

Awards

Saratoga National Bank and Trust Company 30 Year Conventional Loans silver Saratoga National Bank and Trust Company 30 Year Conventional Loans bronze
Show all (2) awards

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) 285 $74,105,000 $260,018 $3,744 4.06%
GLENS FALLS, NY (FHA|USDA|VA) 11 $2,635,000 $239,545 $3,472 3.61%
Gloversville, NY (FHA|USDA|VA) 4 $660,000 $165,000 $2,904 5.28%
Outside of Metro Areas 1 $225,000 $225,000 $3,637 5.00%
Amsterdam, NY (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.69%
Saratoga National Bank And Trust Company's top markets include Albany, Glens Falls, Gloversville, and Amsterdam among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $66,700,000 $343,814 $3,721 4.41%
    HELOC 108 $11,040,000 $102,222 n/a 3.43%

    For 2018, Saratoga National Bank And Trust Company's most frequently originated type of loan was Conventional, with 194 originations. Their 2nd most popular type was HELOC, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $57,805,000 $382,815 $3,944 4.45%
    Cash Out Refi 75 $11,105,000 $148,067 $3,130 3.70%
    Other 56 $6,120,000 $109,286 $488 3.58%
    Home Improvement 13 $1,295,000 $99,615 $2,031 3.64%
    Refi 7 $1,415,000 $202,143 $3,599 4.10%

    For 2018, Saratoga National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Cash Out Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 194 $42,440,000 $218,763 $3,394 3.79%
    30+ year 33 $18,685,000 $566,212 $5,485 4.47%
    15 Year 31 $8,215,000 $265,000 $3,236 4.13%
    Other 23 $5,395,000 $234,565 $5,266 5.28%
    20 Year 11 $1,585,000 $144,091 $2,357 4.81%
    10 Year 8 $1,380,000 $172,500 $1,255 4.17%
    5 Year 2 $40,000 $20,000 $497 3.87%

    For 2018, Saratoga National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 194 originations. The 2nd most popular length was 30+ year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 111 $34,005,000 $306,351
    $1k-2k 54 $21,960,000 $406,667
    $2k-3k 5 $4,565,000 $913,000
    $3k-4k 5 $2,435,000 $487,000
    $4k-5k 3 $1,015,000 $338,333

    Saratoga National Bank And Trust Company's average total fees were $3,394, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 111 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 135 $46,975,000 $347,963
    2.5-3% 74 $7,760,000 $104,865
    3-4% 66 $19,880,000 $301,212
    5-6% 22 $2,750,000 $125,000
    6-7% 5 $375,000 $75,000

    During 2018, Saratoga National Bank And Trust Company's average interest rate for loans was 3.79%, while their most frequently originated rate bucket for loans was 4-5%, with 135 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 84 $4,720,000 $56,190 $1,598 3.83%
    $100k-200k 81 $11,145,000 $137,593 $2,939 3.94%
    $200k-400k 67 $17,785,000 $265,448 $3,989 4.24%
    $400k-600k 47 $23,075,000 $490,957 $4,202 4.31%
    $600k-1MM 16 $11,910,000 $744,375 $4,342 4.36%
    $1MM+ 7 $9,105,000 $1,300,714 $7,694 4.11%

    2018 saw Saratoga National Bank And Trust Company place emphasis on $100,000 or less loans with 84 originations, totaling $4,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 77 $34,945,000 $453,831 $4,237 4.09%
    $150k-250k 63 $16,845,000 $267,381 $3,958 4.13%
    $100k-150k 61 $12,495,000 $204,836 $3,950 3.83%
    $50k-75k 37 $5,035,000 $136,081 $2,953 4.12%
    $75k-100k 28 $3,660,000 $130,714 $3,210 4.03%
    $50k or less 20 $2,040,000 $102,000 $2,328 3.67%

    Saratoga National Bank And Trust Company lent most frequently to those with incomes in the $250k+ range, with 77 originations. The second most popular income band? $150k-250k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 72 $19,190,000 $266,528 $3,574 4.10%
    30-36% 58 $15,500,000 $267,241 $3,876 4.13%
    <20% 30 $6,730,000 $224,333 $3,902 3.79%
    39% 26 $4,420,000 $170,000 $3,846 3.89%
    38% 17 $5,575,000 $327,941 $4,010 4.16%
    36% 14 $6,330,000 $452,143 $3,949 3.99%
    37% 12 $2,550,000 $212,500 $3,191 4.05%
    43% 8 $3,100,000 $387,500 $4,313 4.08%
    40% 6 $1,330,000 $221,667 $3,144 4.49%
    42% 5 $1,155,000 $231,000 $3,654 4.27%
    41% 4 $1,840,000 $460,000 $5,260 4.47%
    44% 4 $430,000 $107,500 $3,468 3.09%
    45% 3 $795,000 $265,000 $4,055 4.25%
    50-60% 2 $90,000 $45,000 $0 5.50%
    >60% 2 $340,000 $170,000 $2,557 3.78%
    48% 1 $95,000 $95,000 $2,583 4.00%
    49% 1 $15,000 $15,000 $476 3.74%

    Saratoga National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? 30-36%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 252 $64,540,000 $256,111 $3,712 4.00%
    Not provided 28 $8,280,000 $295,714 $3,701 4.24%
    Not applicable 13 $2,205,000 $169,615 $0 4.75%
    Asian 6 $1,380,000 $230,000 $3,053 3.83%
    Black 1 $855,000 $855,000 $6,449 4.63%
    Chinese 1 $395,000 $395,000 $4,117 4.00%
    Asian Indian 1 $85,000 $85,000 $0 5.35%

    Approval Rates

    Total approvals of all applications
    86.01%

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

    Pick Rate

    Approvals leading to origination
    80.46%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 302 $77,740,000 $257,417

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $1,280,000 $213,333
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 295 $76,395,000 $258,966

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $4,875,000 $118,902 $3,536 3.43%
    40-60% 40 $10,430,000 $260,750 $3,682 3.94%
    60-80% 77 $27,625,000 $358,766 $4,398 4.30%
    80-100% 73 $26,565,000 $363,904 $3,677 4.58%
    Under 20% 50 $2,710,000 $54,200 $945 3.80%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Sortis Financial, Inc. Conventional home mortgage Struggling to pay mortgage 6 42.9%
    Sortis Financial, Inc. Conventional home mortgage Trouble during payment process 2 14.3%
    Sortis Financial, Inc. FHA mortgage Trouble during payment process 1 7.1%
    Sortis Financial, Inc. Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    Sortis Financial, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    Sortis Financial, Inc. Other type of mortgage Struggling to pay mortgage 1 7.1%
    Sortis Financial, Inc. Other type of mortgage Trouble during payment process 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Saratoga National Bank and Trust 120 Hoosick Street Troy, NY 12180 Full Service B&M $18,608
    Saratoga National Bank and Trust 139 Broadway Saratoga Springs, NY 12866 Full Service B&M $191,343
    Saratoga National Bank and Trust 227 Ballard Road Wilton, NY 12831 Full Service Retail $30,759
    Saratoga National Bank and Trust 238 Main Street Corinth, NY 12822 Full Service B&M $42,012
    Saratoga National Bank and Trust 251 State St Schenectady, NY 12305 Full Service B&M $7,292
    Saratoga National Bank and Trust 3 Carpenter Lane Saratoga Springs, NY 12866 Full Service B&M $39,311
    Saratoga National Bank and Trust 386 Clifton Park Center Road Clifton Park, NY 12065 Full Service B&M $17,828
    Saratoga National Bank and Trust 4208 Route 50 Saratoga Springs, NY 12866 Full Service B&M $18,728
    Saratoga National Bank and Trust 501 New Karner Road Albany, NY 12205 Full Service B&M $43,099
    Saratoga National Bank and Trust 91 West Avenue Saratoga Springs, NY 12866 Full Service B&M $25,029

    For 2018, Saratoga National Bank And Trust Company had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,216
    Net interest income $16,453
    Total noninterest income $2,631
    Gross Fiduciary activities income $635
    Service charges on deposit accounts $458
    Trading account gains and fees $0
    Additional Noninterest Income $1,538
    Pre-tax net operating income $9,605
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,405
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,405
    Minority interest net income $0
    Net income $7,405
    Sale, conversion, retirement of capital stock, net $39
    Net operating income $7,405

    Saratoga National Bank And Trust Company's gross interest income from loans was $19,216,000.
    Saratoga National Bank And Trust Company's net interest income from loans was $16,453,000.
    Saratoga National Bank And Trust Company's fee based income from loans was $458,000.
    Saratoga National Bank And Trust Company's net income from loans was $7,405,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,763
    Provision for credit losses $406
    Total noninterest expense $9,073
    Salaries and employee benefits $3,484
    Premises and equipment expense $1,286
    Additional noninterest expense $4,303
    Applicable income taxes $2,200
    Net charge-offs $115
    Cash dividends $0

    Saratoga National Bank And Trust Company's interest expense for loans was $2,763,000.
    Saratoga National Bank And Trust Company's payroll and benefits expense were $3,484,000.
    Saratoga National Bank And Trust Company's property, plant and equipment expenses $1,286,000.

    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 $460,577
    Deposits held in domestic offices $460,577
    Deposits by Individuals, partnerships, and corporations $405,389
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $52,980
    Deposits by Commercial banks and other depository institutions in U.S. $2,208
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $188,879
    Demand deposits $127,136
    Nontransaction accounts $271,698
    Money market deposit accounts (MMDAs) $167,194
    Other savings deposits (excluding MMDAs) $32,668
    Total time deposits $71,836
    Total time and savings deposits $333,441
    Noninterest-bearing deposits $91,519
    Interest-bearing deposits $369,058
    Retail deposits $426,713
    IRAs and Keogh plan accounts $10,029
    Brokered deposits $1
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $542,244
    Cash & Balances due from depository institutions $15,767
    Interest-bearing balances $6,300
    Total securities $63,337
    Federal funds sold & reverse repurchase $3,076
    Net loans and leases $445,242
    Loan and leases loss allowance $3,802
    Trading account assets $0
    Bank premises and fixed assets $5,101
    Other real estate owned $0
    Goodwill and other intangibles $1,419
    All other assets $8,302

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $542,244
    Total Liabilities $489,389
    Total deposits $460,577
    Interest-bearing deposits $369,058
    Deposits held in domestic offices $460,577
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $25,000
    Subordinated debt $0
    All other liabilities $3,812

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $445,242
    Loan and leases loss allowance $3,802
    Total loans and leases (domestic) $449,044
    All real estate loans $321,700
    Real estate loans in domestic offices $321,700
    Construction and development loans $15,581
    Residential 1-4 family construction $6,141
    Other construction, all land development and other land $9,440
    Loans secured by nonfarm nonresidential properties $86,086
    Nonfarm nonresidential secured by owner-occupied properties $45,466
    Commercial real estate & other non-farm, non-residential $40,620
    Multifamily residential real estate $23,692
    1-4 family residential loans $196,341
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $18
    Commercial and industrial loans $27,352
    To non-U.S. addressees $0
    Loans to individuals $95,448
    Credit card loans $0
    Related Plans $37
    Consumer Auto Loans $93,323
    Other loans to individuals $2,088
    All other loans & leases $4,526
    Loans to foreign governments and official institutions $0
    Other loans $544
    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 $44
    Non 1-4 family restructured loans & leases $44
    Total loans and leases (foreign) $0

    Saratoga National Bank and Trust Company had $445,242,000 of loans outstanding in 2018. $321,700,000 of loans were in real estate loans. $15,581,000 of loans were in development loans. $23,692,000 of loans were in multifamily mortgage loans. $196,341,000 of loans were in 1-4 family mortgage loans. $18,000 of loans were in farm loans. $0 of loans were in credit card loans. $93,323,000 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 107 $32,469 $303,449
    Nonfarm, nonresidential loans - <$100k 9 $392 $43,556
    Nonfarm, nonresidential loans - $100-250k 24 $3,250 $135,417
    Nonfarm, nonresidential loans - $250k-1MM 74 $28,827 $389,554
    Commercial & Industrial, US addressed loans - <$1MM 427 $17,606 $41,232
    Commercial & Industrial, US addressed loans - <$100k 357 $7,733 $21,661
    Commercial & Industrial, US addressed loans - $100-250k 44 $4,563 $103,705
    Commercial & Industrial, US addressed loans - $250k-1MM 26 $5,310 $204,231
    Agriculture operations loans - <$1MM 1 $18 $18,000
    Agriculture operations loans - <$100k 1 $18 $18,000