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™
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    • 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, 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 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

    551

    Origination Dollar Volume (All Markets)

    $158,205,000

    Employee count

    186

    Awards

    Northfield Savings Bank 30 Year Conventional Loans bronze Northfield Savings Bank 30 Year Conventional Loans gold Northfield Savings Bank 30 Year Conventional Loans bronze
    Show all (3) 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) 287 $62,465,000 $217,648 $3,216 3.08%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 122 $47,000,000 $385,246 $3,004 3.32%
    Outside of Metro Areas 39 $27,525,000 $705,769 $4,370 3.26%
    Lebanon, NH-VT (FHA|USDA|VA) 100 $20,470,000 $204,700 $2,999 3.16%
    Rutland, VT (FHA|USDA|VA) 3 $745,000 $248,333 $3,352 2.67%
    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.

    Community National Bank
    Similarity Rank: 130
    ST. MARY'S BANK
    Similarity Rank: 184
    Northfield Savings Bank
    Similarity Rank: 380
    Northway Bank
    Similarity Rank: 405
    Vermont Federal Credit Union
    Similarity Rank: 408
    Meredith Village Savings Bank
    Similarity Rank: 570
    ONE Credit Union
    Similarity Rank: 735
    Bar Harbor Bank & Trust
    Similarity Rank: 817
    Bangor Savings Bank
    Similarity Rank: 850
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 935

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 538 $155,810,000 $289,610 $3,163 3.16%
    USDA 11 $1,805,000 $164,091 $4,410 2.88%
    VA 2 $590,000 $295,000 $7,679 2.81%

    For 2021, Northfield Savings Bank's most frequently originated type of loan was Conventional, with 538 originations. Their 2nd most popular type was USDA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 229 $66,585,000 $290,764 $3,834 3.15%
    Refi 143 $53,605,000 $374,860 $2,677 3.06%
    Cash Out Refi 123 $27,545,000 $223,943 $3,311 2.92%
    Home Improvement 32 $7,610,000 $237,813 $1,294 3.86%
    Other 24 $2,860,000 $119,167 $1,477 4.04%

    For 2021, Northfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Refi, with 143 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 292 $73,100,000 $250,342 $3,676 3.02%
    15 Year 104 $19,550,000 $187,981 $2,825 2.65%
    20 Year 82 $29,560,000 $360,488 $1,886 3.77%
    Other 33 $22,845,000 $692,273 $514 3.66%
    10 Year 20 $2,190,000 $109,500 $183 4.14%
    30+ year 19 $9,125,000 $480,263 $5,539 3.46%
    5 Year 1 $1,835,000 $1,835,000 $0 3.50%

    For 2021, Northfield Savings Bank's most frequently cited loan duration was 30 Year, with 292 originations. The 2nd most popular length was 15 Year, with 104 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 311 $56,315,000 $181,077
    $1k-2k 111 $31,455,000 $283,378
    $2k-3k 38 $14,890,000 $391,842
    $3k-4k 10 $3,200,000 $320,000
    $4k-5k 5 $1,895,000 $379,000
    $5k+ 4 $1,470,000 $367,500

    Northfield Savings Bank's average total fees were $3,676, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 311 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 261 $66,145,000 $253,429
    3-4% 163 $70,605,000 $433,160
    <2.5% 84 $15,320,000 $182,381
    4-5% 30 $5,460,000 $182,000
    5-6% 13 $675,000 $51,923

    During 2021, Northfield Savings Bank's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 217 $59,755,000 $275,369 $3,722 3.01%
    $100k-200k 193 $29,505,000 $152,876 $2,908 3.01%
    $100,000 or less 72 $3,910,000 $54,306 $871 3.82%
    $400k-600k 37 $17,165,000 $463,919 $5,010 3.10%
    $600k-1MM 22 $16,360,000 $743,636 $6,588 3.44%
    $1MM+ 10 $31,510,000 $3,151,000 $5,908 3.74%

    2021 saw Northfield Savings Bank place emphasis on $200k-400k loans with 217 originations, totaling $59,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 120 $27,540,000 $229,500 $3,283 3.09%
    $50k-75k 103 $18,085,000 $175,583 $2,996 2.92%
    $75k-100k 89 $15,035,000 $168,933 $2,797 3.15%
    $150k-250k 85 $24,755,000 $291,235 $3,686 3.11%
    $50k or less 41 $5,185,000 $126,463 $2,427 3.16%
    $250k+ 40 $17,910,000 $447,750 $4,347 3.03%

    Northfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $50k-75k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 142 $31,410,000 $221,197 $3,277 3.02%
    30-36% 90 $21,700,000 $241,111 $3,264 3.20%
    <20% 60 $15,010,000 $250,167 $3,196 2.97%
    42% 40 $7,930,000 $198,250 $2,958 3.07%
    44% 27 $6,565,000 $243,148 $3,386 2.82%
    39% 23 $4,565,000 $198,478 $2,994 3.04%
    41% 21 $5,315,000 $253,095 $3,819 3.03%
    36% 18 $3,810,000 $211,667 $2,781 3.31%
    40% 17 $3,495,000 $205,588 $2,632 3.23%
    43% 15 $3,695,000 $246,333 $3,304 2.80%
    38% 10 $1,960,000 $196,000 $3,106 2.76%
    37% 9 $1,495,000 $166,111 $2,744 3.54%
    45% 3 $995,000 $331,667 $4,024 2.88%
    47% 1 $245,000 $245,000 $2,973 3.00%
    49% 1 $335,000 $335,000 $2,846 3.00%
    50-60% 1 $505,000 $505,000 $7,008 2.88%
    >60% 1 $195,000 $195,000 $3,337 2.88%

    Northfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 368 $83,150,000 $225,951 $3,357 3.01%
    Not applicable 65 $47,695,000 $733,769 $0 3.79%
    White 117 $27,145,000 $232,009 $2,731 3.27%
    Asian 1 $215,000 $215,000 $2,198 2.50%

    Approval Rates

    Total approvals of all applications
    89.60%

    Northfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.59%

    Northfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 551 $158,205,000 $287,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    551 $158,205,000 $287,123

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 62 $9,270,000 $149,516 $2,468 3.00%
    40-60% 106 $27,510,000 $259,528 $2,943 3.06%
    60-80% 207 $76,055,000 $367,415 $3,845 3.12%
    80-100% 128 $36,810,000 $287,578 $3,747 3.04%
    Over 100% 7 $6,625,000 $946,429 $5,051 3.43%
    Under 20% 41 $1,935,000 $47,195 $274 4.16%

    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 $205,343
    Northfield Savings Bank 1120 Shelburne Road South Burlington, VT 5403 Full Service B&M $71,711
    Northfield Savings Bank 1143 Williston Road South Burlington, VT 5403 Full Service B&M $64,285
    Northfield Savings Bank 137 South Main Street Barre, VT 5641 Full Service B&M $14,015
    Northfield Savings Bank 160 College Street Burlington, VT 5402 Full Service B&M $55,143
    Northfield Savings Bank 1875 Vermont Route 107 Bethel, VT 5032 Full Service B&M $34,351
    Northfield Savings Bank 2 North Main Street Randolph, VT 5060 Full Service B&M $60,436
    Northfield Savings Bank 200 Mad River Green Waitsfield, VT 5673 Full Service B&M $130,953
    Northfield Savings Bank 289 North Main Street Barre, VT 5641 Full Service B&M $139,637
    Northfield Savings Bank 29 South Main Street Waterbury, VT 5676 Full Service B&M $79,074
    Northfield Savings Bank 33 S Main St Northfield, VT 5663 Full Service B&M $122,491
    Northfield Savings Bank 60 Wright Avenue Williston, VT 5495 Full Service B&M $79,257
    Northfield Savings Bank 71 Pearl Street Essex Junction, VT 5452 Full Service B&M $49,900

    For 2021, Northfield Savings Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $42,673
    Net interest income $40,414
    Total noninterest income $5,565
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,517
    Trading account gains and fees $0
    Additional Noninterest Income $4,048
    Pre-tax net operating income $13,795
    Securities gains (or losses, -) $22
    Income before extraordinary items $11,342
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,342
    Minority interest net income $0
    Net income $11,342
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,323

    Northfield Savings Bank's gross interest income from loans was $42,673,000.
    Northfield Savings Bank's net interest income from loans was $40,414,000.
    Northfield Savings Bank's fee based income from loans was $1,517,000.
    Northfield Savings Bank's net income from loans was $11,342,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,259
    Provision for credit losses $-700
    Total noninterest expense $32,884
    Salaries and employee benefits $17,936
    Premises and equipment expense $4,017
    Additional noninterest expense $10,931
    Applicable income taxes $2,475
    Net charge-offs $-48
    Cash dividends $0

    Northfield Savings Bank's interest expense for loans was $2,259,000.
    Northfield Savings Bank's payroll and benefits expense were $17,936,000.
    Northfield Savings Bank's property, plant and equipment expenses $4,017,000.

    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 $1,169,112
    Deposits held in domestic offices $1,169,112
    Deposits by Individuals, partnerships, and corporations $1,104,294
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $64,818
    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 $536,715
    Demand deposits $452,642
    Nontransaction accounts $632,397
    Money market deposit accounts (MMDAs) $127,311
    Other savings deposits (excluding MMDAs) $251,534
    Total time deposits $253,552
    Total time and savings deposits $716,470
    Noninterest-bearing deposits $289,819
    Interest-bearing deposits $879,293
    Retail deposits $1,108,475
    IRAs and Keogh plan accounts $40,589
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,401,871
    Cash & Balances due from depository institutions $28,086
    Interest-bearing balances $18,747
    Total securities $390,514
    Federal funds sold & reverse repurchase $0
    Net loans and leases $908,186
    Loan and leases loss allowance $10,619
    Trading account assets $0
    Bank premises and fixed assets $17,768
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $57,317

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,401,871
    Total Liabilities $1,261,921
    Total deposits $1,169,112
    Interest-bearing deposits $879,293
    Deposits held in domestic offices $1,169,112
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $78,332
    Trading liabilities $0
    Other borrowed funds $3,792
    Subordinated debt $0
    All other liabilities $10,685

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $908,186
    Loan and leases loss allowance $10,619
    Total loans and leases (domestic) $918,805
    All real estate loans $828,344
    Real estate loans in domestic offices $828,344
    Construction and development loans $20,999
    Residential 1-4 family construction $6,976
    Other construction, all land development and other land $14,023
    Loans secured by nonfarm nonresidential properties $196,323
    Nonfarm nonresidential secured by owner-occupied properties $61,574
    Commercial real estate & other non-farm, non-residential $134,749
    Multifamily residential real estate $58,243
    1-4 family residential loans $552,312
    Farmland loans $467
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $81,373
    To non-U.S. addressees $0
    Loans to individuals $1,369
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $297
    Other loans to individuals $1,072
    All other loans & leases $7,719
    Loans to foreign governments and official institutions $0
    Other loans $222
    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 $253
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Northfield Savings Bank had $908,186,000 of loans outstanding in 2021. $828,344,000 of loans were in real estate loans. $20,999,000 of loans were in development loans. $58,243,000 of loans were in multifamily mortgage loans. $552,312,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $297,000 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 328 $75,721 $230,857
    Nonfarm, nonresidential loans - <$100k 56 $2,170 $38,750
    Nonfarm, nonresidential loans - $100-250k 104 $12,523 $120,413
    Nonfarm, nonresidential loans - $250k-1MM 168 $61,028 $363,262
    Commercial & Industrial, US addressed loans - <$1MM 452 $28,170 $62,323
    Commercial & Industrial, US addressed loans - <$100k 315 $6,126 $19,448
    Commercial & Industrial, US addressed loans - $100-250k 72 $6,705 $93,125
    Commercial & Industrial, US addressed loans - $250k-1MM 65 $15,339 $235,985
    Farmland loans - <$1MM 2 $467 $233,500
    Farmland loans - $250k-1MM 2 $467 $233,500