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

Jump to:

  • 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, Hudson, Gloversville, 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 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    455

    Origination Dollar Volume (All Markets)

    $139,715,000

    Employee count

    51

    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) 412 $130,780,000 $317,427 $4,625 3.49%
    GLENS FALLS, NY (FHA|USDA|VA) 25 $5,365,000 $214,600 $3,374 3.56%
    Hudson, NY (FHA|USDA|VA) 4 $1,630,000 $407,500 $4,645 3.22%
    Gloversville, NY (FHA|USDA|VA) 9 $1,185,000 $131,667 $4,473 3.45%
    Amsterdam, NY (FHA|USDA|VA) 4 $520,000 $130,000 $3,678 3.62%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $235,000 $235,000 $2,361 2.25%
    Saratoga National Bank And Trust Company's top markets include Albany, Glens Falls, Hudson, 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.

    FIRST NEW YORK
    Similarity Rank: 63
    Bank of Richmondville
    Similarity Rank: 141
    HUDSON RIVER COMMUNITY
    Similarity Rank: 243
    Saratoga National Bank and Trust Company
    Similarity Rank: 594
    CCFCU FUNDING, LLC
    Similarity Rank: 672
    TrustCo Bank
    Similarity Rank: 980
    Glens Falls National Bank and Trust Company
    Similarity Rank: 1080
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 1525
    NBT Bank
    Similarity Rank: 1568
    SEFCU SERVICES, LLC
    Similarity Rank: 1656

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 348 $128,460,000 $369,138 $4,535 3.44%
    HELOC 107 $11,255,000 $105,187 n/a 3.64%

    For 2021, Saratoga National Bank And Trust Company's most frequently originated type of loan was Conventional, with 348 originations. Their 2nd most popular type was HELOC, with 107 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 213 $85,895,000 $403,263 $4,517 3.44%
    Cash Out Refi 82 $25,910,000 $315,976 $4,774 3.47%
    Home Improvement 65 $4,955,000 $76,231 $168 3.87%
    Refi 55 $17,505,000 $318,273 $5,212 2.96%
    Other 40 $5,450,000 $136,250 $0 3.94%

    For 2021, Saratoga National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 213 originations. The 2nd most popular reason was Cash Out Refi, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 245 $61,865,000 $252,510 $4,223 3.36%
    30+ year 61 $36,145,000 $592,541 $6,023 3.43%
    15 Year 57 $16,395,000 $287,632 $4,483 2.91%
    20 Year 47 $10,845,000 $230,745 $3,864 3.94%
    Other 27 $8,185,000 $303,148 $6,204 4.65%
    10 Year 16 $6,220,000 $388,750 $1,577 4.39%
    5 Year 2 $60,000 $30,000 $0 4.74%

    For 2021, Saratoga National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 245 originations. The 2nd most popular length was 30+ year, with 61 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 135 $36,495,000 $270,333
    $1k-2k 99 $39,695,000 $400,960
    $2k-3k 43 $25,705,000 $597,791
    $3k-4k 22 $6,790,000 $308,636
    $4k-5k 18 $5,900,000 $327,778
    $5k+ 14 $5,940,000 $424,286

    Saratoga National Bank And Trust Company's average total fees were $4,223, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 135 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 201 $80,565,000 $400,821
    2.5-3% 161 $40,515,000 $251,646
    4-5% 48 $11,300,000 $235,417
    <2.5% 15 $4,785,000 $319,000
    5-6% 15 $1,455,000 $97,000
    6-7% 14 $980,000 $70,000
    7-8% 1 $115,000 $115,000

    During 2021, Saratoga National Bank And Trust Company's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 3-4%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 131 $37,675,000 $287,595 $4,485 3.32%
    $100k-200k 111 $15,935,000 $143,559 $3,456 3.68%
    $100,000 or less 86 $4,630,000 $53,837 $1,590 3.81%
    $400k-600k 78 $37,600,000 $482,051 $5,435 3.25%
    $600k-1MM 36 $26,340,000 $731,667 $5,669 3.35%
    $1MM+ 13 $17,535,000 $1,348,846 $9,098 3.37%

    2021 saw Saratoga National Bank And Trust Company place emphasis on $200k-400k loans with 131 originations, totaling $37,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 114 $38,620,000 $338,772 $5,004 3.42%
    $100k-150k 101 $26,745,000 $264,802 $4,220 3.50%
    $250k+ 95 $45,515,000 $479,105 $5,570 3.60%
    $50k-75k 58 $9,600,000 $165,517 $3,898 3.33%
    $75k-100k 44 $8,310,000 $188,864 $3,550 3.57%
    $50k or less 25 $2,685,000 $107,400 $2,890 3.20%

    Saratoga National Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 114 originations. The second most popular income band? $100k-150k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 102 $30,050,000 $294,608 $4,254 3.46%
    20-30% 95 $31,695,000 $333,632 $4,889 3.36%
    <20% 50 $12,440,000 $248,800 $4,675 3.42%
    39% 29 $5,665,000 $195,345 $3,827 3.34%
    42% 27 $9,975,000 $369,444 $4,587 3.40%
    41% 23 $8,495,000 $369,348 $4,723 3.53%
    37% 21 $5,855,000 $278,810 $5,114 3.25%
    38% 20 $6,110,000 $305,500 $4,065 3.70%
    40% 17 $5,925,000 $348,529 $3,853 3.57%
    36% 17 $3,045,000 $179,118 $4,919 3.81%
    44% 12 $3,240,000 $270,000 $4,174 4.18%
    43% 10 $2,910,000 $291,000 $4,214 3.60%
    45% 6 $2,610,000 $435,000 $6,085 3.83%
    50-60% 3 $1,365,000 $455,000 $5,005 3.41%
    47% 2 $890,000 $445,000 $5,064 3.50%
    48% 2 $740,000 $370,000 $3,393 3.25%
    46% 1 $465,000 $465,000 $7,771 3.13%

    Saratoga National Bank And Trust Company lent most frequently to those with DTI ratios of 30-36%, with 102 originations. The next most common DTI ratio? 20-30%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 367 $110,935,000 $302,275 $4,532 3.47%
    Not provided 60 $21,010,000 $350,167 $4,729 3.43%
    Not applicable 15 $5,125,000 $341,667 $0 4.12%
    Asian 7 $2,095,000 $299,286 $4,344 3.66%
    Black 2 $320,000 $160,000 $2,609 4.25%
    American Indian 2 $140,000 $70,000 $2,430 3.00%
    Asian Indian 1 $55,000 $55,000 $0 3.99%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    85.18%

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

    Pick Rate

    Approvals leading to origination
    82.86%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 455 $139,715,000 $307,066

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    455 $139,715,000 $307,066

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 68 $11,650,000 $171,324 $3,853 3.66%
    40-60% 51 $13,875,000 $272,059 $4,756 3.22%
    60-80% 169 $67,465,000 $399,201 $4,928 3.45%
    80-100% 105 $41,735,000 $397,476 $4,431 3.38%
    Over 100% 1 $725,000 $725,000 $5,626 3.38%
    Under 20% 61 $4,265,000 $69,918 $623 3.84%

    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 $79,769
    Saratoga National Bank and Trust 139 Broadway Saratoga Springs, NY 12866 Full Service B&M $325,287
    Saratoga National Bank and Trust 1963 Altamont Avenue Schenectady, NY 12303 Full Service B&M $12,923
    Saratoga National Bank and Trust 227 Ballard Road Wilton, NY 12831 Full Service Retail $19,398
    Saratoga National Bank and Trust 238 Main Street Corinth, NY 12822 Full Service B&M $51,740
    Saratoga National Bank and Trust 251 State St Schenectady, NY 12305 Full Service B&M $28,189
    Saratoga National Bank and Trust 3 Carpenter Lane Saratoga Springs, NY 12866 Full Service B&M $53,072
    Saratoga National Bank and Trust 386 Clifton Park Center Road Clifton Park, NY 12065 Full Service B&M $33,143
    Saratoga National Bank and Trust 4208 Route 50 Saratoga Springs, NY 12866 Full Service B&M $28,590
    Saratoga National Bank and Trust 501 New Karner Road Albany, NY 12205 Full Service B&M $63,919
    Saratoga National Bank and Trust 545 Troy Schenectady Road Latham, NY 12110 Full Service B&M $8,935
    Saratoga National Bank and Trust 91 West Avenue, 91 West Avenue Saratoga Springs, NY 12866 Full Service B&M $38,596

    For 2021, Saratoga National Bank And Trust Company had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,119
    Net interest income $25,936
    Total noninterest income $4,636
    Gross Fiduciary activities income $786
    Service charges on deposit accounts $394
    Trading account gains and fees $0
    Additional Noninterest Income $3,456
    Pre-tax net operating income $17,061
    Securities gains (or losses, -) $0
    Income before extraordinary items $12,950
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,950
    Minority interest net income $0
    Net income $12,950
    Sale, conversion, retirement of capital stock, net $29
    Net operating income $12,950

    Saratoga National Bank And Trust Company's gross interest income from loans was $27,119,000.
    Saratoga National Bank And Trust Company's net interest income from loans was $25,936,000.
    Saratoga National Bank And Trust Company's fee based income from loans was $394,000.
    Saratoga National Bank And Trust Company's net income from loans was $12,950,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,183
    Provision for credit losses $492
    Total noninterest expense $13,019
    Salaries and employee benefits $4,033
    Premises and equipment expense $1,860
    Additional noninterest expense $7,126
    Applicable income taxes $4,111
    Net charge-offs $173
    Cash dividends $0

    Saratoga National Bank And Trust Company's interest expense for loans was $1,183,000.
    Saratoga National Bank And Trust Company's payroll and benefits expense were $4,033,000.
    Saratoga National Bank And Trust Company's property, plant and equipment expenses $1,860,000.

    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 2.0%
    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 $746,289
    Deposits held in domestic offices $746,289
    Deposits by Individuals, partnerships, and corporations $639,043
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $105,880
    Deposits by Commercial banks and other depository institutions in U.S. $1,366
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $303,385
    Demand deposits $270,395
    Nontransaction accounts $442,904
    Money market deposit accounts (MMDAs) $313,570
    Other savings deposits (excluding MMDAs) $59,555
    Total time deposits $69,779
    Total time and savings deposits $475,894
    Noninterest-bearing deposits $172,822
    Interest-bearing deposits $573,467
    Retail deposits $697,785
    IRAs and Keogh plan accounts $9,543
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $857,146
    Cash & Balances due from depository institutions $41,679
    Interest-bearing balances $34,469
    Total securities $177,647
    Federal funds sold & reverse repurchase $0
    Net loans and leases $608,275
    Loan and leases loss allowance $7,784
    Trading account assets $0
    Bank premises and fixed assets $13,649
    Other real estate owned $0
    Goodwill and other intangibles $1,744
    All other assets $14,152

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $857,146
    Total Liabilities $773,241
    Total deposits $746,289
    Interest-bearing deposits $573,467
    Deposits held in domestic offices $746,289
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,360
    Subordinated debt $0
    All other liabilities $18,592

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $608,275
    Loan and leases loss allowance $7,784
    Total loans and leases (domestic) $616,059
    All real estate loans $410,692
    Real estate loans in domestic offices $410,692
    Construction and development loans $30,073
    Residential 1-4 family construction $2,296
    Other construction, all land development and other land $27,777
    Loans secured by nonfarm nonresidential properties $155,364
    Nonfarm nonresidential secured by owner-occupied properties $71,140
    Commercial real estate & other non-farm, non-residential $84,224
    Multifamily residential real estate $35,290
    1-4 family residential loans $189,965
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $31,994
    To non-U.S. addressees $0
    Loans to individuals $168,668
    Credit card loans $0
    Related Plans $23
    Consumer Auto Loans $167,398
    Other loans to individuals $1,247
    All other loans & leases $4,705
    Loans to foreign governments and official institutions $0
    Other loans $673
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Saratoga National Bank and Trust Company had $608,275,000 of loans outstanding in 2021. $410,692,000 of loans were in real estate loans. $30,073,000 of loans were in development loans. $35,290,000 of loans were in multifamily mortgage loans. $189,965,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $167,398,000 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 140 $46,594 $332,814
    Nonfarm, nonresidential loans - <$100k 6 $334 $55,667
    Nonfarm, nonresidential loans - $100-250k 38 $5,603 $147,447
    Nonfarm, nonresidential loans - $250k-1MM 96 $40,657 $423,510
    Commercial & Industrial, US addressed loans - <$1MM 587 $27,345 $46,584
    Commercial & Industrial, US addressed loans - <$100k 500 $12,658 $25,316
    Commercial & Industrial, US addressed loans - $100-250k 50 $5,099 $101,980
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $9,588 $259,135