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

Saratoga Springs, NY

LEI: 5493002JNEZK52NOPC21

Tax ID: 14-1708496

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    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% 11/21/24
    30 Year Conventional Purchase 6.46% 11/21/24
    30 Year Conventional Refi 7.17% 11/21/24
    30 Year Cash-out Refi 6.57% 11/21/24
    15 Year Conventional Purchase 5.84% 11/21/24
    15 Year Conventional Refi 6.20% 11/21/24
    15 Year Cash-out Refi 6.20% 11/21/24
    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

    344

    Origination Dollar Volume (All Markets)

    $94,610,000

    Employee count

    54

    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) 320 $86,100,000 $269,063 $3,471 4.23%
    GLENS FALLS, NY (FHA|USDA|VA) 16 $6,740,000 $421,250 $3,644 4.18%
    Gloversville, NY (FHA|USDA|VA) 6 $1,160,000 $193,333 $4,223 4.88%
    Outside of Metro Areas 1 $325,000 $325,000 $4,906 3.63%
    Amsterdam, NY (FHA|USDA|VA) 1 $285,000 $285,000 $0 4.60%
    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)

    • 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: 54
    Saratoga National Bank and Trust Company
    Similarity Rank: 140
    HUDSON RIVER COMMUNITY
    Similarity Rank: 171
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    Similarity Rank: 360
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    Similarity Rank: 583
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    SEFCU SERVICES, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 238 $83,390,000 $350,378 $3,495 4.28%
    HELOC 106 $11,220,000 $105,849 n/a 4.13%

    For 2019, Saratoga National Bank And Trust Company's most frequently originated type of loan was Conventional, with 238 originations. Their 2nd most popular type was HELOC, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 170 $61,740,000 $363,176 $3,673 4.16%
    Home Improvement 74 $6,510,000 $87,973 $229 4.51%
    Cash Out Refi 39 $16,125,000 $413,462 $4,238 4.02%
    Other 38 $4,150,000 $109,211 $131 4.32%
    Refi 23 $6,085,000 $264,565 $3,329 4.14%

    For 2019, Saratoga National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Home Improvement, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 230 $60,060,000 $261,130 $3,490 3.91%
    30+ year 28 $14,980,000 $535,000 $5,509 4.25%
    20 Year 25 $5,405,000 $216,200 $2,794 4.81%
    Other 25 $2,395,000 $95,800 $5,025 6.26%
    15 Year 23 $9,615,000 $418,043 $2,456 4.38%
    10 Year 8 $1,980,000 $247,500 $131 4.47%
    5 Year 5 $175,000 $35,000 $205 4.99%

    For 2019, Saratoga National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 230 originations. The 2nd most popular length was 30+ year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 139 $40,385,000 $290,540
    $1k-2k 64 $25,530,000 $398,906
    $2k-3k 14 $5,820,000 $415,714
    $3k-4k 4 $2,270,000 $567,500
    $4k-5k 3 $1,485,000 $495,000

    Saratoga National Bank And Trust Company's average total fees were $3,490, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 182 $50,470,000 $277,308
    4-5% 108 $39,060,000 $361,667
    6-7% 32 $2,520,000 $78,750
    5-6% 18 $1,570,000 $87,222
    7-8% 2 $310,000 $155,000
    2.5-3% 1 $465,000 $465,000

    During 2019, Saratoga National Bank And Trust Company's average interest rate for loans was 3.91%, while their most frequently originated rate bucket for loans was 3-4%, with 182 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 97 $5,595,000 $57,680 $1,014 4.59%
    $200k-400k 95 $26,025,000 $273,947 $3,714 4.01%
    $100k-200k 78 $11,670,000 $149,615 $2,946 4.24%
    $400k-600k 43 $21,415,000 $498,023 $4,174 4.04%
    $600k-1MM 26 $19,600,000 $753,846 $5,598 4.08%
    $1MM+ 5 $10,305,000 $2,061,000 $5,870 4.11%

    2019 saw Saratoga National Bank And Trust Company place emphasis on $100,000 or less loans with 97 originations, totaling $5,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 84 $25,230,000 $300,357 $3,806 4.34%
    $250k+ 81 $33,975,000 $419,444 $4,106 4.17%
    $100k-150k 61 $13,025,000 $213,525 $3,374 4.35%
    $50k-75k 52 $7,290,000 $140,192 $2,822 4.04%
    $75k-100k 35 $5,175,000 $147,857 $3,140 4.11%
    $50k or less 15 $1,755,000 $117,000 $2,524 4.08%

    Saratoga National Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 84 originations. The second most popular income band? $250k+, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $21,915,000 $257,824 $3,411 4.11%
    30-36% 76 $21,170,000 $278,553 $3,635 4.19%
    <20% 34 $7,970,000 $234,412 $3,383 4.03%
    39% 34 $8,680,000 $255,294 $3,091 4.61%
    38% 19 $5,155,000 $271,316 $3,594 4.87%
    42% 15 $4,975,000 $331,667 $3,773 4.12%
    37% 14 $1,910,000 $136,429 $2,536 4.36%
    36% 14 $4,160,000 $297,143 $4,064 4.19%
    41% 9 $2,015,000 $223,889 $3,183 3.99%
    43% 7 $2,305,000 $329,286 $2,677 4.11%
    44% 5 $1,885,000 $377,000 $4,058 4.20%
    40% 5 $1,025,000 $205,000 $3,512 3.75%
    45% 5 $1,385,000 $277,000 $4,056 3.73%
    50-60% 5 $865,000 $173,000 $6,777 3.53%
    47% 2 $790,000 $395,000 $3,624 5.25%
    48% 1 $505,000 $505,000 $4,000 3.75%

    Saratoga National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 283 $72,655,000 $256,731 $3,443 4.23%
    Not provided 37 $12,185,000 $329,324 $4,260 3.94%
    Not applicable 13 $7,685,000 $591,154 $0 4.80%
    Asian 7 $1,785,000 $255,000 $2,942 4.18%
    Black 4 $300,000 $75,000 $1,073 5.90%

    Approval Rates

    Total approvals of all applications
    87.13%

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

    Pick Rate

    Approvals leading to origination
    77.03%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 344 $94,610,000 $275,029

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $6,510,000 $1,085,000
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 337 $88,025,000 $261,202

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $7,620,000 $152,400 $2,189 4.75%
    40-60% 36 $8,070,000 $224,167 $3,675 3.78%
    60-80% 106 $40,080,000 $378,113 $3,816 4.17%
    80-100% 90 $33,410,000 $371,222 $3,933 4.11%
    Over 100% 1 $795,000 $795,000 $7,353 3.75%
    Under 20% 61 $4,635,000 $75,984 $696 4.40%

    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 $22,478
    Saratoga National Bank and Trust 139 Broadway Saratoga Springs, NY 12866 Full Service B&M $235,765
    Saratoga National Bank and Trust 1963 Altamont Avenue Schenectady, NY 12303 Full Service B&M $3,283
    Saratoga National Bank and Trust 227 Ballard Road Wilton, NY 12831 Full Service Retail $28,659
    Saratoga National Bank and Trust 238 Main Street Corinth, NY 12822 Full Service B&M $40,952
    Saratoga National Bank and Trust 251 State St Schenectady, NY 12305 Full Service B&M $14,465
    Saratoga National Bank and Trust 3 Carpenter Lane Saratoga Springs, NY 12866 Full Service B&M $35,724
    Saratoga National Bank and Trust 386 Clifton Park Center Road Clifton Park, NY 12065 Full Service B&M $21,013
    Saratoga National Bank and Trust 4208 Route 50 Saratoga Springs, NY 12866 Full Service B&M $18,496
    Saratoga National Bank and Trust 501 New Karner Road Albany, NY 12205 Full Service B&M $40,258
    Saratoga National Bank and Trust 91 West Avenue, 91 West Avenue Saratoga Springs, NY 12866 Full Service B&M $28,475

    For 2019, Saratoga National Bank And Trust Company had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,585
    Net interest income $18,025
    Total noninterest income $3,206
    Gross Fiduciary activities income $686
    Service charges on deposit accounts $464
    Trading account gains and fees $0
    Additional Noninterest Income $2,056
    Pre-tax net operating income $10,630
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,206
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,206
    Minority interest net income $0
    Net income $8,206
    Sale, conversion, retirement of capital stock, net $37
    Net operating income $8,206

    Saratoga National Bank And Trust Company's gross interest income from loans was $22,585,000.
    Saratoga National Bank And Trust Company's net interest income from loans was $18,025,000.
    Saratoga National Bank And Trust Company's fee based income from loans was $464,000.
    Saratoga National Bank And Trust Company's net income from loans was $8,206,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,560
    Provision for credit losses $701
    Total noninterest expense $9,900
    Salaries and employee benefits $3,580
    Premises and equipment expense $1,511
    Additional noninterest expense $4,809
    Applicable income taxes $2,424
    Net charge-offs $207
    Cash dividends $0

    Saratoga National Bank And Trust Company's interest expense for loans was $4,560,000.
    Saratoga National Bank And Trust Company's payroll and benefits expense were $3,580,000.
    Saratoga National Bank And Trust Company's property, plant and equipment expenses $1,511,000.

    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 $548,811
    Deposits held in domestic offices $548,811
    Deposits by Individuals, partnerships, and corporations $439,136
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $107,958
    Deposits by Commercial banks and other depository institutions in U.S. $1,717
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $176,515
    Demand deposits $116,872
    Nontransaction accounts $372,296
    Money market deposit accounts (MMDAs) $231,398
    Other savings deposits (excluding MMDAs) $33,437
    Total time deposits $107,461
    Total time and savings deposits $431,939
    Noninterest-bearing deposits $92,069
    Interest-bearing deposits $456,742
    Retail deposits $476,278
    IRAs and Keogh plan accounts $9,385
    Brokered deposits $1
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $642,968
    Cash & Balances due from depository institutions $16,588
    Interest-bearing balances $9,389
    Total securities $76,953
    Federal funds sold & reverse repurchase $28,750
    Net loans and leases $498,344
    Loan and leases loss allowance $4,296
    Trading account assets $0
    Bank premises and fixed assets $11,462
    Other real estate owned $0
    Goodwill and other intangibles $1,446
    All other assets $9,425

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $642,968
    Total Liabilities $581,031
    Total deposits $548,811
    Interest-bearing deposits $456,742
    Deposits held in domestic offices $548,811
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $23,395
    Subordinated debt $0
    All other liabilities $8,825

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $498,344
    Loan and leases loss allowance $4,296
    Total loans and leases (domestic) $502,640
    All real estate loans $347,666
    Real estate loans in domestic offices $347,666
    Construction and development loans $12,351
    Residential 1-4 family construction $2,152
    Other construction, all land development and other land $10,199
    Loans secured by nonfarm nonresidential properties $107,301
    Nonfarm nonresidential secured by owner-occupied properties $59,081
    Commercial real estate & other non-farm, non-residential $48,220
    Multifamily residential real estate $26,288
    1-4 family residential loans $201,726
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $26,960
    To non-U.S. addressees $0
    Loans to individuals $122,194
    Credit card loans $0
    Related Plans $43
    Consumer Auto Loans $120,467
    Other loans to individuals $1,684
    All other loans & leases $5,820
    Loans to foreign governments and official institutions $0
    Other loans $1,055
    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 $16
    Non 1-4 family restructured loans & leases $16
    Total loans and leases (foreign) $0

    Saratoga National Bank and Trust Company had $498,344,000 of loans outstanding in 2019. $347,666,000 of loans were in real estate loans. $12,351,000 of loans were in development loans. $26,288,000 of loans were in multifamily mortgage loans. $201,726,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $120,467,000 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 120 $35,143 $292,858
    Nonfarm, nonresidential loans - <$100k 9 $409 $45,444
    Nonfarm, nonresidential loans - $100-250k 30 $4,005 $133,500
    Nonfarm, nonresidential loans - $250k-1MM 81 $30,729 $379,370
    Commercial & Industrial, US addressed loans - <$1MM 518 $22,047 $42,562
    Commercial & Industrial, US addressed loans - <$100k 436 $9,968 $22,862
    Commercial & Industrial, US addressed loans - $100-250k 44 $4,367 $99,250
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $7,712 $202,947