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, Amsterdam, and Poughkeepsie 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 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% 11/17/24
    30 Year Conventional Purchase 6.46% 11/17/24
    30 Year Conventional Refi 7.17% 11/17/24
    30 Year Cash-out Refi 6.57% 11/17/24
    15 Year Conventional Purchase 5.84% 11/17/24
    15 Year Conventional Refi 6.20% 11/17/24
    15 Year Cash-out Refi 6.20% 11/17/24
    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

    441

    Origination Dollar Volume (All Markets)

    $150,185,000

    Employee count

    58

    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) 406 $140,770,000 $346,724 $4,180 3.46%
    GLENS FALLS, NY (FHA|USDA|VA) 23 $5,785,000 $251,522 $3,847 3.79%
    Outside of Metro Areas 4 $1,640,000 $410,000 $4,146 3.56%
    Gloversville, NY (FHA|USDA|VA) 4 $1,480,000 $370,000 $5,162 3.59%
    Amsterdam, NY (FHA|USDA|VA) 3 $275,000 $91,667 $2,584 3.58%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $235,000 $235,000 $3,530 3.88%
    Saratoga National Bank And Trust Company's top markets include Albany, Glens Falls, Gloversville, Amsterdam, and Poughkeepsie 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.

    FIRST NEW YORK
    Similarity Rank: 56
    Bank of Richmondville
    Similarity Rank: 180
    HUDSON RIVER COMMUNITY
    Similarity Rank: 284
    Saratoga National Bank and Trust Company
    Similarity Rank: 348
    Glens Falls National Bank and Trust Company
    Similarity Rank: 792
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 832
    CCFCU FUNDING, LLC
    Similarity Rank: 840
    TrustCo Bank
    Similarity Rank: 1275
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 1525
    Berkshire Bank
    Similarity Rank: 1935

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 384 $143,730,000 $374,297 $4,161 3.50%
    HELOC 57 $6,455,000 $113,246 n/a 3.35%

    For 2020, Saratoga National Bank And Trust Company's most frequently originated type of loan was Conventional, with 384 originations. Their 2nd most popular type was HELOC, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 236 $95,970,000 $406,653 $3,979 3.53%
    Cash Out Refi 90 $29,220,000 $324,667 $4,789 3.42%
    Refi 65 $20,095,000 $309,154 $4,335 3.24%
    Home Improvement 31 $2,525,000 $81,452 $0 3.79%
    Other 19 $2,375,000 $125,000 $0 3.39%

    For 2020, Saratoga National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 236 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 273 $82,415,000 $301,886 $4,291 3.42%
    15 Year 69 $17,955,000 $260,217 $3,569 3.10%
    20 Year 33 $6,875,000 $208,333 $4,008 3.86%
    30+ year 29 $15,705,000 $541,552 $5,587 3.57%
    10 Year 26 $7,490,000 $288,077 $1,135 4.17%
    Other 10 $19,730,000 $1,973,000 $5,186 4.36%
    5 Year 1 $15,000 $15,000 $0 3.00%

    For 2020, Saratoga National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 273 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 171 $46,725,000 $273,246
    $1k-2k 106 $36,870,000 $347,830
    $2k-3k 44 $19,290,000 $438,409
    $3k-4k 23 $9,035,000 $392,826
    $4k-5k 11 $3,985,000 $362,273
    $5k+ 7 $2,655,000 $379,286

    Saratoga National Bank And Trust Company's average total fees were $4,291, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 171 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 280 $108,840,000 $388,714
    2.5-3% 101 $25,575,000 $253,218
    4-5% 49 $14,155,000 $288,878
    6-7% 5 $265,000 $53,000
    <2.5% 3 $1,115,000 $371,667
    5-6% 3 $235,000 $78,333

    During 2020, Saratoga National Bank And Trust Company's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 3-4%, with 280 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 154 $43,120,000 $280,000 $4,310 3.41%
    $100k-200k 107 $16,095,000 $150,421 $3,069 3.46%
    $400k-600k 80 $39,640,000 $495,500 $5,283 3.32%
    $100,000 or less 61 $3,685,000 $60,410 $1,793 3.81%
    $600k-1MM 29 $21,055,000 $726,034 $5,407 3.58%
    $1MM+ 10 $26,590,000 $2,659,000 $6,664 3.68%

    2020 saw Saratoga National Bank And Trust Company place emphasis on $200k-400k loans with 154 originations, totaling $43,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 110 $36,360,000 $330,545 $4,645 3.39%
    $250k+ 94 $44,350,000 $471,809 $4,823 3.44%
    $100k-150k 78 $21,540,000 $276,154 $4,214 3.48%
    $50k-75k 60 $10,150,000 $169,167 $3,048 3.45%
    $75k-100k 49 $9,575,000 $195,408 $4,029 3.45%
    $50k or less 28 $3,040,000 $108,571 $2,697 3.61%

    Saratoga National Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 110 originations. The second most popular income band? $250k+, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 127 $38,175,000 $300,591 $4,223 3.40%
    30-36% 95 $28,345,000 $298,368 $4,358 3.45%
    <20% 51 $15,845,000 $310,686 $4,081 3.17%
    39% 23 $6,475,000 $281,522 $4,005 3.68%
    42% 20 $6,240,000 $312,000 $4,076 3.61%
    37% 19 $6,365,000 $335,000 $4,415 3.57%
    40% 19 $5,155,000 $271,316 $3,535 3.57%
    41% 17 $5,115,000 $300,882 $4,197 3.90%
    38% 13 $3,925,000 $301,923 $4,611 3.35%
    36% 8 $3,050,000 $381,250 $3,770 3.12%
    44% 8 $1,210,000 $151,250 $2,746 4.14%
    43% 7 $1,195,000 $170,714 $3,169 3.37%
    45% 6 $1,370,000 $228,333 $3,614 3.33%
    48% 2 $1,100,000 $550,000 $6,193 3.44%
    50-60% 2 $570,000 $285,000 $5,026 3.38%
    46% 1 $745,000 $745,000 $4,394 3.75%
    47% 1 $135,000 $135,000 $4,589 2.88%

    Saratoga National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? 30-36%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 343 $98,665,000 $287,653 $4,137 3.46%
    Not provided 70 $25,200,000 $360,000 $4,390 3.40%
    Not applicable 21 $24,915,000 $1,186,429 $0 4.04%
    Asian 4 $880,000 $220,000 $3,291 3.25%
    Black 3 $525,000 $175,000 $2,477 3.29%

    Approval Rates

    Total approvals of all applications
    85.20%

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

    Pick Rate

    Approvals leading to origination
    77.78%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 441 $150,185,000 $340,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $23,325,000 $1,794,231
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 427 $126,775,000 $296,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $4,590,000 $143,438 $3,361 3.37%
    40-60% 45 $13,365,000 $297,000 $4,078 3.11%
    60-80% 185 $80,355,000 $434,351 $4,583 3.50%
    80-100% 139 $48,315,000 $347,590 $4,015 3.51%
    Under 20% 40 $3,560,000 $89,000 $470 3.78%

    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 $82,017
    Saratoga National Bank and Trust 139 Broadway Saratoga Springs, NY 12866 Full Service B&M $288,302
    Saratoga National Bank and Trust 1963 Altamont Avenue Schenectady, NY 12303 Full Service B&M $8,843
    Saratoga National Bank and Trust 227 Ballard Road Wilton, NY 12831 Full Service Retail $21,903
    Saratoga National Bank and Trust 238 Main Street Corinth, NY 12822 Full Service B&M $49,309
    Saratoga National Bank and Trust 251 State St Schenectady, NY 12305 Full Service B&M $22,629
    Saratoga National Bank and Trust 3 Carpenter Lane Saratoga Springs, NY 12866 Full Service B&M $51,093
    Saratoga National Bank and Trust 386 Clifton Park Center Road Clifton Park, NY 12065 Full Service B&M $29,114
    Saratoga National Bank and Trust 4208 Route 50 Saratoga Springs, NY 12866 Full Service B&M $22,976
    Saratoga National Bank and Trust 501 New Karner Road Albany, NY 12205 Full Service B&M $60,845
    Saratoga National Bank and Trust 91 West Avenue, 91 West Avenue Saratoga Springs, NY 12866 Full Service B&M $36,293

    For 2020, Saratoga National Bank And Trust Company had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,397
    Net interest income $22,054
    Total noninterest income $4,844
    Gross Fiduciary activities income $635
    Service charges on deposit accounts $354
    Trading account gains and fees $0
    Additional Noninterest Income $3,855
    Pre-tax net operating income $12,831
    Securities gains (or losses, -) $-2
    Income before extraordinary items $9,874
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,874
    Minority interest net income $0
    Net income $9,874
    Sale, conversion, retirement of capital stock, net $29
    Net operating income $9,875

    Saratoga National Bank And Trust Company's gross interest income from loans was $25,397,000.
    Saratoga National Bank And Trust Company's net interest income from loans was $22,054,000.
    Saratoga National Bank And Trust Company's fee based income from loans was $354,000.
    Saratoga National Bank And Trust Company's net income from loans was $9,874,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,343
    Provision for credit losses $2,763
    Total noninterest expense $11,304
    Salaries and employee benefits $3,863
    Premises and equipment expense $1,686
    Additional noninterest expense $5,755
    Applicable income taxes $2,955
    Net charge-offs $209
    Cash dividends $0

    Saratoga National Bank And Trust Company's interest expense for loans was $3,343,000.
    Saratoga National Bank And Trust Company's payroll and benefits expense were $3,863,000.
    Saratoga National Bank And Trust Company's property, plant and equipment expenses $1,686,000.

    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 $721,995
    Deposits held in domestic offices $721,995
    Deposits by Individuals, partnerships, and corporations $609,175
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $111,826
    Deposits by Commercial banks and other depository institutions in U.S. $994
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $274,817
    Demand deposits $195,733
    Nontransaction accounts $447,178
    Money market deposit accounts (MMDAs) $281,928
    Other savings deposits (excluding MMDAs) $48,892
    Total time deposits $116,358
    Total time and savings deposits $526,262
    Noninterest-bearing deposits $160,523
    Interest-bearing deposits $561,472
    Retail deposits $629,708
    IRAs and Keogh plan accounts $9,285
    Brokered deposits $1,253
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $815,782
    Cash & Balances due from depository institutions $81,437
    Interest-bearing balances $62,631
    Total securities $104,948
    Federal funds sold & reverse repurchase $0
    Net loans and leases $602,034
    Loan and leases loss allowance $6,850
    Trading account assets $0
    Bank premises and fixed assets $12,630
    Other real estate owned $0
    Goodwill and other intangibles $1,645
    All other assets $13,088

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $815,782
    Total Liabilities $743,169
    Total deposits $721,995
    Interest-bearing deposits $561,472
    Deposits held in domestic offices $721,995
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,382
    Subordinated debt $0
    All other liabilities $12,792

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $602,034
    Loan and leases loss allowance $6,850
    Total loans and leases (domestic) $608,884
    All real estate loans $397,883
    Real estate loans in domestic offices $397,883
    Construction and development loans $24,098
    Residential 1-4 family construction $5,022
    Other construction, all land development and other land $19,076
    Loans secured by nonfarm nonresidential properties $130,395
    Nonfarm nonresidential secured by owner-occupied properties $57,990
    Commercial real estate & other non-farm, non-residential $72,405
    Multifamily residential real estate $35,356
    1-4 family residential loans $208,034
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $55,806
    To non-U.S. addressees $0
    Loans to individuals $150,212
    Credit card loans $0
    Related Plans $24
    Consumer Auto Loans $148,830
    Other loans to individuals $1,358
    All other loans & leases $4,983
    Loans to foreign governments and official institutions $0
    Other loans $575
    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 $11
    Non 1-4 family restructured loans & leases $11
    Total loans and leases (foreign) $0

    Saratoga National Bank and Trust Company had $602,034,000 of loans outstanding in 2020. $397,883,000 of loans were in real estate loans. $24,098,000 of loans were in development loans. $35,356,000 of loans were in multifamily mortgage loans. $208,034,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $148,830,000 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 127 $41,360 $325,669
    Nonfarm, nonresidential loans - <$100k 8 $426 $53,250
    Nonfarm, nonresidential loans - $100-250k 30 $4,370 $145,667
    Nonfarm, nonresidential loans - $250k-1MM 89 $36,564 $410,831
    Commercial & Industrial, US addressed loans - <$1MM 894 $45,681 $51,097
    Commercial & Industrial, US addressed loans - <$100k 741 $19,374 $26,146
    Commercial & Industrial, US addressed loans - $100-250k 101 $11,875 $117,574
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $14,432 $277,538