Northfield Savings Bank Mortgage Rates, Fees & Info

Northfield, VT

LEI: 549300D7AV8NGI6N3S98

Tax ID: 03-0145560

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

    Northfield Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Northfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Barre, Burlington, Lebanon, and Rutland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northfield Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Northfield Savings Bank 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.27% 4/21/24
    30 Year Conventional Refi 5.79% 4/21/24
    30 Year Cash-out Refi 6.32% 4/21/24
    30 Year VA Purchase 6.14% 4/21/24
    30 Year USDA Purchase 6.27% 4/21/24
    15 Year Conventional Purchase 5.84% 4/21/24
    15 Year Conventional Refi 5.85% 4/21/24
    15 Year Cash-out Refi 5.85% 4/21/24
    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.

    Northfield Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Northfield Savings Bank. 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

    508

    Origination Dollar Volume (All Markets)

    $98,290,000

    Employee count

    165 Show all (5) 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
    Barre, VT (FHA|USDA|VA) 273 $45,505,000 $166,685 $2,337 4.05%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 115 $33,065,000 $287,522 $2,091 4.08%
    Lebanon, NH-VT (FHA|USDA|VA) 88 $13,430,000 $152,614 $2,524 4.12%
    Outside of Metro Areas 29 $5,685,000 $196,034 $2,367 4.12%
    Rutland, VT (FHA|USDA|VA) 3 $605,000 $201,667 $3,156 4.49%
    Northfield Savings Bank's top markets include Barre, Burlington, Lebanon, and Rutland among others.

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

    • Similar Lenders

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

    Vermont Federal Credit Union
    Similarity Rank: 165
    MSA MORTGAGE, LLC
    Similarity Rank: 168
    Northfield Savings Bank
    Similarity Rank: 215
    Bar Harbor Bank & Trust
    Similarity Rank: 231
    Meredith Village Savings Bank
    Similarity Rank: 232
    NORTHEAST CREDIT UNION
    Similarity Rank: 308
    Northway Bank
    Similarity Rank: 350
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 416
    Bank of New Hampshire
    Similarity Rank: 442
    NORTH COUNTRY
    Similarity Rank: 550

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 506 $97,880,000 $193,439 $2,326 4.08%
    VA 2 $410,000 $205,000 $2,383 4.00%

    For 2019, Northfield Savings Bank's most frequently originated type of loan was Conventional, with 506 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 262 $57,950,000 $221,183 $2,978 4.00%
    Refi 92 $19,870,000 $215,978 $2,072 4.01%
    Home Improvement 57 $8,555,000 $150,088 $106 4.36%
    Cash Out Refi 56 $8,870,000 $158,393 $2,704 3.94%
    Other 41 $3,045,000 $74,268 $846 4.52%

    For 2019, Northfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 262 originations. The 2nd most popular reason was Refi, with 92 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 247 $55,485,000 $224,636 $3,061 3.95%
    15 Year 107 $16,905,000 $157,991 $1,847 4.01%
    20 Year 64 $14,270,000 $222,969 $1,505 4.48%
    Other 37 $2,875,000 $77,703 $335 3.87%
    10 Year 34 $4,820,000 $141,765 $212 4.51%
    30+ year 17 $3,835,000 $225,588 $3,684 4.48%
    3 Year 1 $5,000 $5,000 $0 3.63%
    5 Year 1 $95,000 $95,000 $0 5.15%

    For 2019, Northfield Savings Bank's most frequently cited loan duration was 30 Year, with 247 originations. The 2nd most popular length was 15 Year, with 107 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 373 $56,685,000 $151,971
    $1k-2k 61 $14,545,000 $238,443
    $2k-3k 17 $5,175,000 $304,412
    $3k-4k 5 $1,185,000 $237,000
    $5k+ 3 $925,000 $308,333
    $4k-5k 1 $365,000 $365,000

    Northfield Savings Bank's average total fees were $3,061, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 373 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 255 $48,805,000 $191,392
    4-5% 196 $41,700,000 $212,755
    5-6% 35 $3,715,000 $106,143
    2.5-3% 21 $4,005,000 $190,714
    7-8% 1 $65,000 $65,000

    During 2019, Northfield Savings Bank's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 255 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 176 $26,610,000 $151,193 $2,499 3.94%
    $200k-400k 166 $45,140,000 $271,928 $3,484 3.92%
    $100,000 or less 144 $7,370,000 $51,181 $607 4.42%
    $400k-600k 11 $5,155,000 $468,636 $4,482 3.97%
    $1MM+ 6 $10,320,000 $1,720,000 $0 4.40%
    $600k-1MM 5 $3,695,000 $739,000 $4,368 4.18%

    2019 saw Northfield Savings Bank place emphasis on $100k-200k loans with 176 originations, totaling $26,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 109 $15,775,000 $144,725 $2,233 3.99%
    $100k-150k 100 $18,680,000 $186,800 $2,428 3.97%
    $75k-100k 92 $14,970,000 $162,717 $2,241 3.94%
    $50k or less 66 $7,000,000 $106,061 $1,878 4.15%
    $150k-250k 65 $14,625,000 $225,000 $2,641 4.13%
    $250k+ 26 $7,840,000 $301,538 $3,248 3.97%

    Northfield Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 109 originations. The second most popular income band? $100k-150k, with 100 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $20,370,000 $169,750 $2,215 4.00%
    30-36% 97 $16,905,000 $174,278 $2,261 4.16%
    <20% 42 $6,370,000 $151,667 $2,268 3.82%
    44% 36 $6,410,000 $178,056 $2,815 3.81%
    41% 25 $3,755,000 $150,200 $1,871 4.16%
    36% 22 $3,620,000 $164,545 $1,856 4.07%
    38% 22 $3,550,000 $161,364 $2,169 4.03%
    43% 19 $4,125,000 $217,105 $3,659 3.82%
    39% 19 $3,835,000 $201,842 $2,592 4.12%
    42% 18 $2,880,000 $160,000 $1,885 3.88%
    40% 17 $2,915,000 $171,471 $1,960 4.02%
    37% 16 $2,750,000 $171,875 $2,829 4.27%
    45% 6 $1,180,000 $196,667 $3,254 3.90%
    46% 1 $215,000 $215,000 $2,170 3.88%

    Northfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 408 $69,730,000 $170,907 $2,327 4.03%
    Not applicable 43 $18,775,000 $436,628 $0 4.59%
    Not provided 51 $8,875,000 $174,020 $2,328 4.07%
    Black 2 $530,000 $265,000 $3,309 4.13%
    American Indian 4 $380,000 $95,000 $1,705 4.06%

    Approval Rates

    Total approvals of all applications
    91.98%

    Northfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.18%

    Northfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 508 $98,290,000 $193,484

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $130,000 $65,000
    Multifamily:Site-Built 20 $9,610,000 $480,500
    Single Family (1-4 Units):Manufactured 8 $760,000 $95,000
    Single Family (1-4 Units):Site-Built 478 $87,790,000 $183,661

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $8,550,000 $133,594 $1,200 4.21%
    40-60% 61 $11,195,000 $183,525 $2,505 3.94%
    60-80% 144 $35,240,000 $244,722 $3,136 4.00%
    80-100% 163 $38,585,000 $236,718 $2,995 3.98%
    Over 100% 2 $2,030,000 $1,015,000 $4,878 4.67%
    Under 20% 74 $2,690,000 $36,351 $57 4.43%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northfield Savings Bank 100 State Street, Suite 1 Montpelier, VT 5602 Full Service B&M $131,567
    Northfield Savings Bank 1120 Shelburne Road South Burlington, VT 5403 Full Service B&M $61,864
    Northfield Savings Bank 1143 Williston Road South Burlington, VT 5403 Full Service B&M $43,653
    Northfield Savings Bank 137 South Main Street Barre, VT 5641 Full Service B&M $9,940
    Northfield Savings Bank 160 College Street Burlington, VT 5402 Full Service B&M $52,299
    Northfield Savings Bank 1875 Vermont Route 107 Bethel, VT 5032 Full Service B&M $28,906
    Northfield Savings Bank 194 Mad River Green Waitsfield, VT 5673 Full Service B&M $73,240
    Northfield Savings Bank 2 North Main Street Randolph, VT 5060 Full Service B&M $42,721
    Northfield Savings Bank 289 North Main Street Barre, VT 5641 Full Service B&M $108,745
    Northfield Savings Bank 29 South Main Street Waterbury, VT 5676 Full Service B&M $59,168
    Northfield Savings Bank 33 South Main Street Northfield, VT 5663 Full Service B&M $98,202
    Northfield Savings Bank 60 Wright Avenue Williston, VT 5495 Full Service B&M $51,186
    Northfield Savings Bank 71 Pearl Street Essex Junction, VT 5452 Full Service B&M $48,688

    For 2019, Northfield Savings Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,511
    Net interest income $30,204
    Total noninterest income $5,194
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,720
    Trading account gains and fees $0
    Additional Noninterest Income $3,474
    Pre-tax net operating income $7,734
    Securities gains (or losses, -) $-64
    Income before extraordinary items $6,608
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,608
    Minority interest net income $0
    Net income $6,608
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,663

    Northfield Savings Bank's gross interest income from loans was $39,511,000.
    Northfield Savings Bank's net interest income from loans was $30,204,000.
    Northfield Savings Bank's fee based income from loans was $1,720,000.
    Northfield Savings Bank's net income from loans was $6,608,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,307
    Provision for credit losses $420
    Total noninterest expense $27,244
    Salaries and employee benefits $14,448
    Premises and equipment expense $3,916
    Additional noninterest expense $8,880
    Applicable income taxes $1,062
    Net charge-offs $157
    Cash dividends $75

    Northfield Savings Bank's interest expense for loans was $9,307,000.
    Northfield Savings Bank's payroll and benefits expense were $14,448,000.
    Northfield Savings Bank's property, plant and equipment expenses $3,916,000.

    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 5.0%
    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 $824,816
    Deposits held in domestic offices $824,816
    Deposits by Individuals, partnerships, and corporations $800,457
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $24,359
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $58,452
    Demand deposits $49,025
    Nontransaction accounts $766,364
    Money market deposit accounts (MMDAs) $62,998
    Other savings deposits (excluding MMDAs) $382,700
    Total time deposits $320,666
    Total time and savings deposits $775,791
    Noninterest-bearing deposits $170,477
    Interest-bearing deposits $654,339
    Retail deposits $757,033
    IRAs and Keogh plan accounts $45,800
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,059,033
    Cash & Balances due from depository institutions $10,541
    Interest-bearing balances $5
    Total securities $146,276
    Federal funds sold & reverse repurchase $0
    Net loans and leases $837,595
    Loan and leases loss allowance $8,731
    Trading account assets $0
    Bank premises and fixed assets $18,390
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $46,231

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,059,032
    Total Liabilities $933,145
    Total deposits $824,816
    Interest-bearing deposits $654,339
    Deposits held in domestic offices $824,816
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $39,218
    Trading liabilities $0
    Other borrowed funds $60,425
    Subordinated debt $0
    All other liabilities $8,686

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $837,595
    Loan and leases loss allowance $8,731
    Total loans and leases (domestic) $846,326
    All real estate loans $756,745
    Real estate loans in domestic offices $756,745
    Construction and development loans $13,584
    Residential 1-4 family construction $1,371
    Other construction, all land development and other land $12,213
    Loans secured by nonfarm nonresidential properties $186,116
    Nonfarm nonresidential secured by owner-occupied properties $64,527
    Commercial real estate & other non-farm, non-residential $121,589
    Multifamily residential real estate $49,907
    1-4 family residential loans $506,716
    Farmland loans $422
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $80,432
    To non-U.S. addressees $0
    Loans to individuals $2,118
    Credit card loans $0
    Related Plans $31
    Consumer Auto Loans $393
    Other loans to individuals $1,694
    All other loans & leases $7,031
    Loans to foreign governments and official institutions $0
    Other loans $1,489
    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

    Northfield Savings Bank had $837,595,000 of loans outstanding in 2019. $756,745,000 of loans were in real estate loans. $13,584,000 of loans were in development loans. $49,907,000 of loans were in multifamily mortgage loans. $506,716,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $393,000 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 460 $96,065 $208,837
    Nonfarm, nonresidential loans - <$100k 98 $4,157 $42,418
    Nonfarm, nonresidential loans - $100-250k 176 $22,366 $127,080
    Nonfarm, nonresidential loans - $250k-1MM 186 $69,542 $373,882
    Commercial & Industrial, US addressed loans - <$1MM 433 $30,818 $71,173
    Commercial & Industrial, US addressed loans - <$100k 264 $6,263 $23,723
    Commercial & Industrial, US addressed loans - $100-250k 96 $8,527 $88,823
    Commercial & Industrial, US addressed loans - $250k-1MM 73 $16,028 $219,562
    Farmland loans - <$1MM 4 $422 $105,500
    Farmland loans - <$100k 1 $32 $32,000
    Farmland loans - $100-250k 3 $390 $130,000