Greenfield Savings Bank Mortgage Rates, Fees & Info

Greenfield, MA

LEI: 549300L6YKIXOYQ57883

Tax ID: 81-0669576

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

    Greenfield Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Greenfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Pittsfield, Boston, Barnstable Town, 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenfield 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 6.19% 4/19/24
    30 Year Conventional Refi 6.41% 4/19/24
    30 Year Cash-out Refi 6.57% 4/19/24
    15 Year Conventional Purchase 5.30% 4/19/24
    15 Year Conventional Refi 5.79% 4/19/24
    15 Year Cash-out Refi 5.79% 4/19/24
    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

    559

    Origination Dollar Volume (All Markets)

    $149,075,000

    Employee count

    155

    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) 548 $145,990,000 $266,405 $3,371 3.13%
    PITTSFIELD, MA (FHA|USDA|VA) 6 $1,360,000 $226,667 $5,210 1.44%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $685,000 $685,000 $5,273 2.75%
    Outside of Metro Areas 2 $510,000 $255,000 $5,347 2.94%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $375,000 $375,000 $3,126 3.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $155,000 $155,000 $4,864 2.88%
    Greenfield Savings Bank's top markets include Springfield, Pittsfield, Boston, Barnstable Town, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Vermont (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
    Similarity Rank: 192
    Freedom Credit Union
    Similarity Rank: 266
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 336
    ATHOL CREDIT UNION
    Similarity Rank: 368
    Florence Bank
    Similarity Rank: 400
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 464
    Greenfield Savings Bank
    Similarity Rank: 522
    PeoplesBank
    Similarity Rank: 525
    Westfield Bank
    Similarity Rank: 595
    Cornerstone Bank
    Similarity Rank: 646

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 559 $149,075,000 $266,682 $3,397 3.11%

    For 2021, Greenfield Savings Bank's most frequently originated type of loan was Conventional, with 559 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 246 $79,600,000 $323,577 $4,133 3.18%
    Cash Out Refi 162 $35,130,000 $216,852 $3,527 3.01%
    Refi 88 $21,100,000 $239,773 $2,873 3.09%
    Home Improvement 50 $11,920,000 $238,400 $752 3.09%
    Other 13 $1,325,000 $101,923 $1,211 3.27%

    For 2021, Greenfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Cash Out Refi, with 162 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 290 $75,580,000 $260,621 $4,123 3.05%
    15 Year 97 $16,785,000 $173,041 $2,698 2.63%
    20 Year 62 $11,260,000 $181,613 $2,807 3.25%
    Other 53 $38,895,000 $733,868 $4,315 4.23%
    10 Year 49 $5,355,000 $109,286 $1,267 2.89%
    1 Year 4 $1,090,000 $272,500 $0 4.25%
    5 Year 4 $110,000 $27,500 $88 3.34%

    For 2021, Greenfield Savings Bank's most frequently cited loan duration was 30 Year, with 290 originations. The 2nd most popular length was 15 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 267 $49,125,000 $183,989
    $1k-2k 135 $32,465,000 $240,481
    $2k-3k 49 $13,945,000 $284,592
    $3k-4k 21 $7,035,000 $335,000
    $4k-5k 11 $3,015,000 $274,091
    $5k+ 7 $2,485,000 $355,000

    Greenfield Savings Bank's average total fees were $4,123, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 267 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 260 $61,960,000 $238,308
    3-4% 191 $62,555,000 $327,513
    <2.5% 61 $10,765,000 $176,475
    4-5% 46 $13,760,000 $299,130
    5-6% 1 $35,000 $35,000

    During 2021, Greenfield Savings Bank's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 260 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 228 $62,020,000 $272,018 $4,121 3.06%
    $100k-200k 180 $28,160,000 $156,444 $3,322 3.11%
    $100,000 or less 90 $4,720,000 $52,444 $796 3.06%
    $400k-600k 40 $19,120,000 $478,000 $4,693 3.29%
    $600k-1MM 15 $10,505,000 $700,333 $6,620 3.48%
    $1MM+ 6 $24,550,000 $4,091,667 $0 3.87%

    2021 saw Greenfield Savings Bank place emphasis on $200k-400k loans with 228 originations, totaling $62,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 116 $19,880,000 $171,379 $3,133 3.02%
    $100k-150k 112 $26,610,000 $237,589 $3,486 3.06%
    $75k-100k 98 $19,250,000 $196,429 $3,274 3.01%
    $150k-250k 91 $26,915,000 $295,769 $4,010 3.06%
    $50k or less 57 $6,575,000 $115,351 $2,571 2.96%
    $250k+ 31 $10,325,000 $333,065 $4,101 3.06%

    Greenfield Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 116 originations. The second most popular income band? $100k-150k, with 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 141 $30,295,000 $214,858 $3,405 2.99%
    30-36% 111 $23,405,000 $210,856 $3,452 2.92%
    <20% 67 $13,515,000 $201,716 $3,342 2.87%
    41% 31 $7,115,000 $229,516 $3,492 3.03%
    38% 23 $5,505,000 $239,348 $3,459 3.09%
    40% 22 $4,680,000 $212,727 $2,861 3.13%
    42% 20 $5,160,000 $258,000 $3,710 3.01%
    39% 19 $4,795,000 $252,368 $3,859 3.01%
    37% 18 $3,320,000 $184,444 $2,828 3.00%
    43% 14 $3,000,000 $214,286 $2,887 3.19%
    36% 12 $2,830,000 $235,833 $3,507 2.97%
    44% 9 $2,195,000 $243,889 $3,650 2.64%
    45% 6 $1,370,000 $228,333 $2,922 2.92%
    48% 3 $545,000 $181,667 $5,264 2.13%
    47% 2 $680,000 $340,000 $4,483 3.06%

    Greenfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 141 originations. The next most common DTI ratio? 30-36%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 468 $102,330,000 $218,654 $3,369 3.04%
    Not applicable 36 $34,390,000 $955,278 $0 4.25%
    Not provided 36 $8,300,000 $230,556 $3,722 2.95%
    Asian 9 $2,345,000 $260,556 $3,891 3.14%
    Black 4 $650,000 $162,500 $2,300 2.53%
    American Indian 3 $435,000 $145,000 $3,050 2.79%
    Korean 1 $295,000 $295,000 $3,497 2.88%
    1 $225,000 $225,000 $4,727 2.88%
    Asian Indian 1 $105,000 $105,000 $4,638 2.88%

    Approval Rates

    Total approvals of all applications
    90.48%

    Greenfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.96%

    Greenfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 6 $210,000 $35,000
    NA 553 $148,865,000 $269,195

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    559 $149,075,000 $266,682

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 60 $7,110,000 $118,500 $1,897 3.04%
    40-60% 100 $22,710,000 $227,100 $3,199 2.94%
    60-80% 232 $76,410,000 $329,353 $4,150 3.21%
    80-100% 120 $32,510,000 $270,917 $4,236 3.12%
    Over 100% 1 $8,655,000 $8,655,000 $0 3.25%
    Under 20% 46 $1,680,000 $36,522 $111 3.09%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Greenfield Savings Bank 108 North Pleasant Street Amherst, MA 1002 Full Service B&M $10,856
    Greenfield Savings Bank 140 Russell Street, Route 9 Hadley, MA 1035 Full Service B&M $7,657
    Greenfield Savings Bank 207 Main Street Northampton, MA 1060 Full Service B&M $9,785
    Greenfield Savings Bank 282 Avenue A Turners Falls, MA 1376 Full Service B&M $121,969
    Greenfield Savings Bank 325a King Street Northampton, MA 1060 Full Service B&M $72,280
    Greenfield Savings Bank 400 Main St Greenfield, MA 1301 Full Service B&M $399,181
    Greenfield Savings Bank 58 Bridge Street Shelburne Falls, MA 1370 Full Service B&M $68,245
    Greenfield Savings Bank 6 University Drive Amherst, MA 1002 Full Service B&M $90,302
    Greenfield Savings Bank 61 North Main Street South Deerfield, MA 1373 Full Service B&M $127,239
    Greenfield Savings Bank Parsons Road And Route 116 Conway, MA 1341 Full Service B&M $31,076

    For 2021, Greenfield Savings Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,282
    Net interest income $32,002
    Total noninterest income $7,897
    Gross Fiduciary activities income $2,490
    Service charges on deposit accounts $1,078
    Trading account gains and fees $0
    Additional Noninterest Income $4,329
    Pre-tax net operating income $10,676
    Securities gains (or losses, -) $21
    Income before extraordinary items $8,503
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,503
    Minority interest net income $0
    Net income $8,503
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,486

    Greenfield Savings Bank's gross interest income from loans was $34,282,000.
    Greenfield Savings Bank's net interest income from loans was $32,002,000.
    Greenfield Savings Bank's fee based income from loans was $1,078,000.
    Greenfield Savings Bank's net income from loans was $8,503,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,280
    Provision for credit losses $600
    Total noninterest expense $28,623
    Salaries and employee benefits $15,241
    Premises and equipment expense $4,580
    Additional noninterest expense $8,802
    Applicable income taxes $2,194
    Net charge-offs $77
    Cash dividends $0

    Greenfield Savings Bank's interest expense for loans was $2,280,000.
    Greenfield Savings Bank's payroll and benefits expense were $15,241,000.
    Greenfield Savings Bank's property, plant and equipment expenses $4,580,000.

    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 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 $955,969
    Deposits held in domestic offices $955,969
    Deposits by Individuals, partnerships, and corporations $931,324
    Deposits by U.S. Government $83
    Deposits by States and political subdivisions in the U.S. $24,562
    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 $91,800
    Demand deposits $38,108
    Nontransaction accounts $864,169
    Money market deposit accounts (MMDAs) $82,984
    Other savings deposits (excluding MMDAs) $551,223
    Total time deposits $229,963
    Total time and savings deposits $917,861
    Noninterest-bearing deposits $176,209
    Interest-bearing deposits $779,760
    Retail deposits $851,568
    IRAs and Keogh plan accounts $20,153
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,094,979
    Cash & Balances due from depository institutions $147,779
    Interest-bearing balances $140,757
    Total securities $161,358
    Federal funds sold & reverse repurchase $123
    Net loans and leases $741,811
    Loan and leases loss allowance $7,432
    Trading account assets $0
    Bank premises and fixed assets $13,207
    Other real estate owned $0
    Goodwill and other intangibles $1,058
    All other assets $29,643

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,094,979
    Total Liabilities $971,467
    Total deposits $955,969
    Interest-bearing deposits $779,760
    Deposits held in domestic offices $955,969
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,505
    Subordinated debt $0
    All other liabilities $9,993

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $741,811
    Loan and leases loss allowance $7,432
    Total loans and leases (domestic) $749,243
    All real estate loans $712,697
    Real estate loans in domestic offices $712,697
    Construction and development loans $23,875
    Residential 1-4 family construction $12,055
    Other construction, all land development and other land $11,820
    Loans secured by nonfarm nonresidential properties $115,998
    Nonfarm nonresidential secured by owner-occupied properties $67,787
    Commercial real estate & other non-farm, non-residential $48,211
    Multifamily residential real estate $54,109
    1-4 family residential loans $518,649
    Farmland loans $66
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,814
    To non-U.S. addressees $0
    Loans to individuals $408
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $408
    All other loans & leases $324
    Loans to foreign governments and official institutions $0
    Other loans $324
    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 $741,811,000 of loans outstanding in 2021. $712,697,000 of loans were in real estate loans. $23,875,000 of loans were in development loans. $54,109,000 of loans were in multifamily mortgage loans. $518,649,000 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 284 $62,547 $220,236
    Nonfarm, nonresidential loans - <$100k 51 $1,593 $31,235
    Nonfarm, nonresidential loans - $100-250k 98 $11,432 $116,653
    Nonfarm, nonresidential loans - $250k-1MM 135 $49,522 $366,830
    Commercial & Industrial, US addressed loans - <$1MM 568 $27,086 $47,687
    Commercial & Industrial, US addressed loans - <$100k 430 $8,069 $18,765
    Commercial & Industrial, US addressed loans - $100-250k 100 $9,045 $90,450
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $9,972 $262,421
    Farmland loans - <$1MM 1 $66 $66,000
    Farmland loans - <$100k 1 $66 $66,000