Greenfield Savings Bank Mortgage Rates, Fees & Info

Greenfield, MA

LEI: 549300L6YKIXOYQ57883

Tax ID: 81-0669576

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Mortgage Data

Bank Data

Review & Overview

Greenfield Savings Bank is a smaller bank specializing in Home Purchase loans. Greenfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Barnstable Town, Keene, Pittsfield, and Worcester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Greenfield 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.

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
30 Year Conventional Purchase 6.19% 3/28/24
30 Year Conventional Refi 6.41% 3/28/24
30 Year Cash-out Refi 6.57% 3/28/24
15 Year Conventional Purchase 5.30% 3/28/24
15 Year Conventional Refi 5.79% 3/28/24
15 Year Cash-out Refi 5.79% 3/28/24
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.

Greenfield Savings Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Greenfield 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

460

Origination Dollar Volume (All Markets)

$87,250,000

Employee count

152

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
SPRINGFIELD, MA (FHA|USDA|VA) 451 $85,105,000 $188,703 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
Outside of Metro Areas 2 $580,000 $290,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
Greenfield Savings Bank's top markets include Springfield, Barnstable Town, Keene, Pittsfield, and Worcester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Similar Lenders

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

    POLISH NATIONAL
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    MEMBERS MORTGAGE COMPANY, INC.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 460 $87,250,000 $189,674 $0 0.00%

    For 2018, Greenfield Savings Bank's most frequently originated type of loan was Conventional, with 460 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 261 $60,435,000 $231,552 $0 0.00%
    Cash Out Refi 81 $12,985,000 $160,309 $0 0.00%
    Home Improvement 55 $4,485,000 $81,545 $0 0.00%
    Refi 43 $8,025,000 $186,628 $0 0.00%
    Other 20 $1,320,000 $66,000 $0 0.00%

    For 2018, Greenfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 261 originations. The 2nd most popular reason was Cash Out Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 460 $87,250,000 $189,674 $0 0.00%

    For 2018, Greenfield Savings Bank's most frequently cited loan duration was Other, with 460 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 173 $26,405,000 $152,630 $0 0.00%
    $200k-400k 148 $40,220,000 $271,757 $0 0.00%
    $100,000 or less 113 $6,065,000 $53,673 $0 0.00%
    $400k-600k 19 $8,915,000 $469,211 $0 0.00%
    $600k-1MM 5 $3,255,000 $651,000 $0 0.00%
    $1MM+ 2 $2,390,000 $1,195,000 $0 0.00%

    2018 saw Greenfield Savings Bank place emphasis on $100k-200k loans with 173 originations, totaling $26,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 102 $20,860,000 $204,510 $0 0.00%
    $75k-100k 95 $15,885,000 $167,211 $0 0.00%
    $50k-75k 84 $11,500,000 $136,905 $0 0.00%
    $150k-250k 68 $14,030,000 $206,324 $0 0.00%
    $50k or less 50 $5,180,000 $103,600 $0 0.00%
    $250k+ 24 $9,060,000 $377,500 $0 0.00%

    Greenfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 102 originations. The second most popular income band? $75k-100k, with 95 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 460 $87,250,000 $189,674 $0 0.00%

    Greenfield Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 460 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 367 $67,815,000 $184,782 $0 0.00%
    Not provided 50 $8,590,000 $171,800 $0 0.00%
    Not applicable 27 $7,765,000 $287,593 $0 0.00%
    Asian 12 $2,440,000 $203,333 $0 0.00%
    Black 2 $380,000 $190,000 $0 0.00%
    Asian Indian 1 $185,000 $185,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.56%

    Greenfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.96%

    Greenfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 460 $87,250,000 $189,674

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,340,000 $585,000
    Single Family (1-4 Units):Site-Built 456 $84,910,000 $186,206

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Greenfield Savings Bank Conway Road And Main Street South Deerfield, MA 1373 Full Service B&M $83,382
    Greenfield Savings Bank Parsons Road And Route 116 Conway, MA 1341 Full Service B&M $24,956
    Greenfield Savings Bank 108 North Pleasant Street Amherst, MA 1002 Full Service B&M $1,425
    Greenfield Savings Bank 140 Russell Street Hadley, MA 1035 Full Service B&M $1,152
    Greenfield Savings Bank 207 Main Street Northampton, MA 1060 Full Service B&M $1,501
    Greenfield Savings Bank 282 Avenue A Turners Falls, MA 1376 Full Service B&M $91,108
    Greenfield Savings Bank 325a King Street Northampton, MA 1060 Full Service B&M $37,236
    Greenfield Savings Bank 400 Main Street Greenfield, MA 1301 Full Service B&M $335,292
    Greenfield Savings Bank 58 Bridge Street Shelburne Falls, MA 1370 Full Service B&M $50,479
    Greenfield Savings Bank 6 University Drive Amherst, MA 1002 Full Service B&M $61,496

    For 2018, Greenfield Savings Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,449
    Net interest income $26,969
    Total noninterest income $6,256
    Gross Fiduciary activities income $1,907
    Service charges on deposit accounts $1,427
    Trading account gains and fees $0
    Additional Noninterest Income $2,922
    Pre-tax net operating income $9,646
    Securities gains (or losses, -) $-24
    Income before extraordinary items $7,672
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,672
    Minority interest net income $0
    Net income $7,672
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,691

    Greenfield Savings Bank's gross interest income from loans was $32,449,000.
    Greenfield Savings Bank's net interest income from loans was $26,969,000.
    Greenfield Savings Bank's fee based income from loans was $1,427,000.
    Greenfield Savings Bank's net income from loans was $7,672,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,480
    Provision for credit losses $300
    Total noninterest expense $23,279
    Salaries and employee benefits $12,569
    Premises and equipment expense $3,378
    Additional noninterest expense $7,332
    Applicable income taxes $1,950
    Net charge-offs $50
    Cash dividends $0

    Greenfield Savings Bank's interest expense for loans was $5,480,000.
    Greenfield Savings Bank's payroll and benefits expense were $12,569,000.
    Greenfield Savings Bank's property, plant and equipment expenses $3,378,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    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 $710,201
    Deposits held in domestic offices $710,201
    Deposits by Individuals, partnerships, and corporations $694,699
    Deposits by U.S. Government $8
    Deposits by States and political subdivisions in the U.S. $15,494
    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 $58,286
    Demand deposits $19,881
    Nontransaction accounts $651,915
    Money market deposit accounts (MMDAs) $74,015
    Other savings deposits (excluding MMDAs) $306,949
    Total time deposits $270,952
    Total time and savings deposits $690,320
    Noninterest-bearing deposits $72,010
    Interest-bearing deposits $638,191
    Retail deposits $565,334
    IRAs and Keogh plan accounts $21,450
    Brokered deposits $83,872
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $856,280
    Cash & Balances due from depository institutions $12,100
    Interest-bearing balances $4,014
    Total securities $95,547
    Federal funds sold & reverse repurchase $289
    Net loans and leases $702,927
    Loan and leases loss allowance $5,556
    Trading account assets $0
    Bank premises and fixed assets $14,249
    Other real estate owned $52
    Goodwill and other intangibles $663
    All other assets $30,453

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $856,280
    Total Liabilities $759,209
    Total deposits $710,201
    Interest-bearing deposits $638,191
    Deposits held in domestic offices $710,201
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $34,849
    Subordinated debt $0
    All other liabilities $14,159

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $702,927
    Loan and leases loss allowance $5,556
    Total loans and leases (domestic) $708,483
    All real estate loans $674,993
    Real estate loans in domestic offices $674,993
    Construction and development loans $24,906
    Residential 1-4 family construction $8,328
    Other construction, all land development and other land $16,578
    Loans secured by nonfarm nonresidential properties $97,348
    Nonfarm nonresidential secured by owner-occupied properties $59,008
    Commercial real estate & other non-farm, non-residential $38,340
    Multifamily residential real estate $52,740
    1-4 family residential loans $499,925
    Farmland loans $74
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $29,654
    To non-U.S. addressees $0
    Loans to individuals $587
    Credit card loans $0
    Related Plans $587
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $3,249
    Loans to foreign governments and official institutions $0
    Other loans $3,249
    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

    Greenfield Savings Bank had $702,927,000 of loans outstanding in 2018. $674,993,000 of loans were in real estate loans. $24,906,000 of loans were in development loans. $52,740,000 of loans were in multifamily mortgage loans. $499,925,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 258 $56,939 $220,694
    Nonfarm, nonresidential loans - <$100k 60 $2,362 $39,367
    Nonfarm, nonresidential loans - $100-250k 85 $9,943 $116,976
    Nonfarm, nonresidential loans - $250k-1MM 113 $44,634 $394,991
    Commercial & Industrial, US addressed loans - <$1MM 521 $25,022 $48,027
    Commercial & Industrial, US addressed loans - <$100k 403 $9,621 $23,873
    Commercial & Industrial, US addressed loans - $100-250k 81 $6,942 $85,704
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $8,459 $228,622
    Farmland loans - <$1MM 1 $74 $74,000
    Farmland loans - <$100k 1 $74 $74,000