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. They have a low ratio of USDA loans. Their top markets by origination volume include: Barre, Burlington, and Lebanon among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northfield Savings Bank 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. 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% 12/23/24
    30 Year Conventional Refi 5.79% 12/23/24
    30 Year Cash-out Refi 6.32% 12/23/24
    30 Year VA Purchase 6.14% 12/23/24
    30 Year USDA Purchase 6.27% 12/23/24
    15 Year Conventional Purchase 5.84% 12/23/24
    15 Year Conventional Refi 5.85% 12/23/24
    15 Year Cash-out Refi 5.85% 12/23/24
    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

    601

    Origination Dollar Volume (All Markets)

    $129,285,000

    Employee count

    165

    Awards

    Northfield Savings Bank 30 Year Conventional Loans silver
    Show all (1) 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) 323 $61,625,000 $190,789 $3,119 3.35%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 146 $42,200,000 $289,041 $2,725 3.47%
    Lebanon, NH-VT (FHA|USDA|VA) 96 $15,370,000 $160,104 $2,544 3.27%
    Outside of Metro Areas 36 $10,090,000 $280,278 $3,219 3.46%
    Northfield Savings Bank's top markets include Barre, Burlington, and Lebanon 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.

    Northfield Savings Bank
    Similarity Rank: 348
    Vermont Federal Credit Union
    Similarity Rank: 355
    ST. MARY'S BANK
    Similarity Rank: 392
    Northway Bank
    Similarity Rank: 530
    Bar Harbor Bank & Trust
    Similarity Rank: 546
    ONE Credit Union
    Similarity Rank: 609
    MSA MORTGAGE, LLC
    Similarity Rank: 638
    Meredith Village Savings Bank
    Similarity Rank: 689
    SALEM FIVE MORTGAGE COMPANY, LLC
    Similarity Rank: 756
    NORTHEAST CREDIT UNION
    Similarity Rank: 768

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 594 $127,550,000 $214,731 $2,918 3.37%
    VA 6 $1,570,000 $261,667 $4,977 3.27%
    USDA 1 $165,000 $165,000 $2,973 3.25%

    For 2020, Northfield Savings Bank's most frequently originated type of loan was Conventional, with 594 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 248 $56,300,000 $227,016 $3,381 3.41%
    Refi 178 $42,250,000 $237,360 $2,536 3.20%
    Cash Out Refi 121 $25,335,000 $209,380 $3,321 3.25%
    Home Improvement 28 $1,560,000 $55,714 $296 4.30%
    Other 26 $3,840,000 $147,692 $2,219 3.75%

    For 2020, Northfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 248 originations. The 2nd most popular reason was Refi, with 178 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 308 $67,030,000 $217,630 $3,349 3.33%
    15 Year 134 $26,010,000 $194,104 $2,768 2.92%
    20 Year 75 $20,395,000 $271,933 $2,802 3.69%
    10 Year 33 $4,055,000 $122,879 $120 4.30%
    Other 32 $5,470,000 $170,938 $623 3.71%
    30+ year 16 $5,630,000 $351,875 $4,804 3.79%
    5 Year 3 $695,000 $231,667 $0 4.28%

    For 2020, Northfield Savings Bank's most frequently cited loan duration was 30 Year, with 308 originations. The 2nd most popular length was 15 Year, with 134 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 403 $68,685,000 $170,434
    $1k-2k 88 $23,870,000 $271,250
    $2k-3k 37 $11,315,000 $305,811
    $3k-4k 14 $4,210,000 $300,714
    $4k-5k 9 $2,865,000 $318,333
    $5k+ 3 $825,000 $275,000

    Northfield Savings Bank's average total fees were $3,349, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 403 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 356 $78,650,000 $220,927
    2.5-3% 176 $39,140,000 $222,386
    4-5% 55 $10,335,000 $187,909
    5-6% 11 $735,000 $66,818
    <2.5% 3 $425,000 $141,667

    During 2020, Northfield Savings Bank's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 3-4%, with 356 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 239 $36,155,000 $151,276 $2,728 3.22%
    $200k-400k 211 $56,505,000 $267,796 $3,681 3.26%
    $100,000 or less 99 $5,475,000 $55,303 $1,001 3.92%
    $400k-600k 37 $17,225,000 $465,541 $4,757 3.35%
    $600k-1MM 12 $9,070,000 $755,833 $5,482 3.65%
    $1MM+ 3 $4,855,000 $1,618,333 $0 4.03%

    2020 saw Northfield Savings Bank place emphasis on $100k-200k loans with 239 originations, totaling $36,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 135 $26,915,000 $199,370 $3,036 3.32%
    $50k-75k 123 $18,765,000 $152,561 $2,685 3.32%
    $150k-250k 106 $26,710,000 $251,981 $3,208 3.34%
    $75k-100k 93 $16,125,000 $173,387 $2,794 3.34%
    $50k or less 52 $5,870,000 $112,885 $2,222 3.38%
    $250k+ 50 $18,140,000 $362,800 $3,907 3.25%

    Northfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 135 originations. The second most popular income band? $50k-75k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 159 $32,065,000 $201,667 $2,911 3.26%
    30-36% 110 $20,710,000 $188,273 $2,696 3.37%
    <20% 65 $13,595,000 $209,154 $2,705 3.13%
    42% 31 $5,425,000 $175,000 $2,569 3.50%
    44% 30 $5,970,000 $199,000 $3,259 3.15%
    41% 27 $4,525,000 $167,593 $2,983 3.43%
    40% 26 $6,200,000 $238,462 $3,559 3.47%
    43% 24 $5,560,000 $231,667 $3,117 3.32%
    37% 22 $5,510,000 $250,455 $3,894 3.41%
    38% 20 $3,850,000 $192,500 $3,161 3.38%
    39% 18 $3,130,000 $173,889 $2,822 3.24%
    36% 18 $4,270,000 $237,222 $3,277 3.38%
    45% 2 $780,000 $390,000 $3,899 3.19%
    46% 1 $15,000 $15,000 $0 4.50%
    >60% 1 $165,000 $165,000 $2,156 2.75%

    Northfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 159 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 410 $82,430,000 $201,049 $3,125 3.23%
    White 152 $30,520,000 $200,789 $2,410 3.59%
    Not applicable 36 $15,470,000 $429,722 $0 4.04%
    Black 2 $450,000 $225,000 $2,705 3.25%
    Asian 1 $415,000 $415,000 $3,113 3.13%

    Approval Rates

    Total approvals of all applications
    89.54%

    Northfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.56%

    Northfield Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 601 $129,285,000 $215,116

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $8,400,000 $700,000
    Single Family (1-4 Units):Manufactured 9 $1,495,000 $166,111
    Single Family (1-4 Units):Site-Built 580 $119,390,000 $205,845

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $7,695,000 $122,143 $1,923 3.46%
    40-60% 114 $25,190,000 $220,965 $2,734 3.16%
    60-80% 212 $52,560,000 $247,925 $3,502 3.35%
    80-100% 164 $38,560,000 $235,122 $3,430 3.28%
    Over 100% 5 $2,665,000 $533,000 $8,657 3.78%
    Under 20% 43 $2,615,000 $60,814 $186 4.22%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northfield Savings Bank 2 North Main Street Randolph, VT 5060 Full Service B&M $48,800
    Northfield Savings Bank 100 State Street, Suite 1 Montpelier, VT 5602 Full Service B&M $154,449
    Northfield Savings Bank 1120 Shelburne Road South Burlington, VT 5403 Full Service B&M $71,191
    Northfield Savings Bank 1143 Williston Road South Burlington, VT 5403 Full Service B&M $58,097
    Northfield Savings Bank 137 South Main Street Barre, VT 5641 Full Service B&M $12,024
    Northfield Savings Bank 160 College Street Burlington, VT 5402 Full Service B&M $48,268
    Northfield Savings Bank 1875 Vermont Route 107 Bethel, VT 5032 Full Service B&M $33,568
    Northfield Savings Bank 194 Mad River Green Waitsfield, VT 5673 Full Service B&M $88,935
    Northfield Savings Bank 289 North Main Street Barre, VT 5641 Full Service B&M $121,802
    Northfield Savings Bank 29 South Main Street Waterbury, VT 5676 Full Service B&M $70,015
    Northfield Savings Bank 33 South Main Street Northfield, VT 5663 Full Service B&M $110,485
    Northfield Savings Bank 60 Wright Avenue Williston, VT 5495 Full Service B&M $66,732
    Northfield Savings Bank 71 Pearl Street Essex Junction, VT 5452 Full Service B&M $51,196

    For 2020, Northfield Savings Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $40,623
    Net interest income $34,707
    Total noninterest income $4,685
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,244
    Trading account gains and fees $0
    Additional Noninterest Income $3,441
    Pre-tax net operating income $6,966
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,845
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,845
    Minority interest net income $0
    Net income $5,845
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,845

    Northfield Savings Bank's gross interest income from loans was $40,623,000.
    Northfield Savings Bank's net interest income from loans was $34,707,000.
    Northfield Savings Bank's fee based income from loans was $1,244,000.
    Northfield Savings Bank's net income from loans was $5,845,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,916
    Provision for credit losses $2,578
    Total noninterest expense $29,848
    Salaries and employee benefits $15,971
    Premises and equipment expense $4,653
    Additional noninterest expense $9,224
    Applicable income taxes $1,121
    Net charge-offs $37
    Cash dividends $0

    Northfield Savings Bank's interest expense for loans was $5,916,000.
    Northfield Savings Bank's payroll and benefits expense were $15,971,000.
    Northfield Savings Bank's property, plant and equipment expenses $4,653,000.

    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 $992,537
    Deposits held in domestic offices $992,537
    Deposits by Individuals, partnerships, and corporations $966,180
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,107
    Deposits by Commercial banks and other depository institutions in U.S. $249
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $415,269
    Demand deposits $344,843
    Nontransaction accounts $577,267
    Money market deposit accounts (MMDAs) $78,855
    Other savings deposits (excluding MMDAs) $196,499
    Total time deposits $301,913
    Total time and savings deposits $647,693
    Noninterest-bearing deposits $241,322
    Interest-bearing deposits $751,215
    Retail deposits $916,570
    IRAs and Keogh plan accounts $45,379
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,214,080
    Cash & Balances due from depository institutions $21,109
    Interest-bearing balances $10,544
    Total securities $215,372
    Federal funds sold & reverse repurchase $0
    Net loans and leases $912,109
    Loan and leases loss allowance $11,271
    Trading account assets $0
    Bank premises and fixed assets $19,264
    Other real estate owned $688
    Goodwill and other intangibles $23
    All other assets $45,515

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,214,080
    Total Liabilities $1,078,986
    Total deposits $992,537
    Interest-bearing deposits $751,215
    Deposits held in domestic offices $992,537
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $72,797
    Trading liabilities $0
    Other borrowed funds $3,846
    Subordinated debt $0
    All other liabilities $9,806

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $912,109
    Loan and leases loss allowance $11,271
    Total loans and leases (domestic) $923,380
    All real estate loans $783,880
    Real estate loans in domestic offices $783,880
    Construction and development loans $7,434
    Residential 1-4 family construction $4,737
    Other construction, all land development and other land $2,697
    Loans secured by nonfarm nonresidential properties $190,448
    Nonfarm nonresidential secured by owner-occupied properties $63,357
    Commercial real estate & other non-farm, non-residential $127,091
    Multifamily residential real estate $52,928
    1-4 family residential loans $532,686
    Farmland loans $384
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $130,079
    To non-U.S. addressees $0
    Loans to individuals $1,775
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $294
    Other loans to individuals $1,481
    All other loans & leases $7,646
    Loans to foreign governments and official institutions $0
    Other loans $366
    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 $439
    Non 1-4 family restructured loans & leases $150
    Total loans and leases (foreign) $0

    Northfield Savings Bank had $912,109,000 of loans outstanding in 2020. $783,880,000 of loans were in real estate loans. $7,434,000 of loans were in development loans. $52,928,000 of loans were in multifamily mortgage loans. $532,686,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $294,000 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 452 $91,260 $201,903
    Nonfarm, nonresidential loans - <$100k 97 $3,788 $39,052
    Nonfarm, nonresidential loans - $100-250k 169 $20,287 $120,041
    Nonfarm, nonresidential loans - $250k-1MM 186 $67,185 $361,210
    Commercial & Industrial, US addressed loans - <$1MM 1,242 $83,765 $67,444
    Commercial & Industrial, US addressed loans - <$100k 906 $21,837 $24,103
    Commercial & Industrial, US addressed loans - $100-250k 214 $25,101 $117,294
    Commercial & Industrial, US addressed loans - $250k-1MM 122 $36,827 $301,861
    Farmland loans - <$1MM 4 $384 $96,000
    Farmland loans - <$100k 1 $30 $30,000
    Farmland loans - $100-250k 3 $354 $118,000