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

Jump to:

  • 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)

    • 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, Pittsfield, Boston, and Worcester among others. We have data for 5 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% 12/4/24
    30 Year Conventional Refi 6.41% 12/4/24
    30 Year Cash-out Refi 6.57% 12/4/24
    15 Year Conventional Purchase 5.30% 12/4/24
    15 Year Conventional Refi 5.79% 12/4/24
    15 Year Cash-out Refi 5.79% 12/4/24
    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

    417

    Origination Dollar Volume (All Markets)

    $109,465,000

    Awards

    Greenfield Savings Bank 30 Year Conventional Loans silver Greenfield Savings Bank 30 Year Conventional Loans silver
    Show all (2) 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
    SPRINGFIELD, MA (FHA|USDA|VA) 412 $106,790,000 $259,199 $3,007 4.14%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $0 4.50%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $640,000 $320,000 $5,367 2.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $445,000 $445,000 $4,073 3.63%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $345,000 $345,000 $3,199 3.75%
    Greenfield Savings Bank's top markets include Springfield, Barnstable Town, Pittsfield, Boston, and Worcester among others.

    Their top states include:
  • Massachusetts (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.

    Freedom Credit Union
    Similarity Rank: 78
    ARRHA Credit Union
    Similarity Rank: 105
    POLISH NATIONAL
    Similarity Rank: 130
    LUSO
    Similarity Rank: 144
    Florence Bank
    Similarity Rank: 150
    Adams Community Bank
    Similarity Rank: 156
    Greenfield Savings Bank
    Similarity Rank: 160
    Country Bank for Savings
    Similarity Rank: 180
    Easthampton Savings Bank
    Similarity Rank: 210
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 417 $109,465,000 $262,506 $3,024 4.13%

    For 2022, Greenfield Savings Bank's most frequently originated type of loan was Conventional, with 417 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 226 $67,920,000 $300,531 $4,191 4.28%
    Cash Out Refi 72 $14,560,000 $202,222 $2,649 3.98%
    Home Improvement 55 $3,915,000 $71,182 $395 3.71%
    Refi 39 $20,725,000 $531,410 $2,846 3.87%
    Other 25 $2,345,000 $93,800 $873 4.44%

    For 2022, Greenfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 226 originations. The 2nd most popular reason was Cash Out Refi, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 221 $59,225,000 $267,986 $4,298 3.98%
    Other 57 $33,255,000 $583,421 $3,280 4.83%
    15 Year 49 $6,445,000 $131,531 $1,446 3.74%
    20 Year 48 $6,260,000 $130,417 $875 4.42%
    10 Year 31 $2,605,000 $84,032 $522 3.94%
    5 Year 8 $290,000 $36,250 $105 4.09%
    1 Year 3 $1,385,000 $461,667 $0 5.83%

    For 2022, Greenfield Savings Bank's most frequently cited loan duration was 30 Year, with 221 originations. The 2nd most popular length was Other, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 229 $38,155,000 $166,616
    $1k-2k 85 $23,545,000 $277,000
    $2k-3k 17 $5,175,000 $304,412
    $3k-4k 12 $3,470,000 $289,167
    $5k+ 6 $3,080,000 $513,333
    $4k-5k 2 $550,000 $275,000

    Greenfield Savings Bank's average total fees were $4,298, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 229 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 166 $37,140,000 $223,735
    4-5% 145 $47,915,000 $330,448
    5-6% 65 $17,835,000 $274,385
    2.5-3% 19 $3,775,000 $198,684
    <2.5% 19 $1,865,000 $98,158
    6-7% 2 $580,000 $290,000
    7-8% 1 $355,000 $355,000

    During 2022, Greenfield Savings Bank's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 3-4%, with 166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 177 $50,165,000 $283,418 $4,042 4.23%
    $100k-200k 106 $16,410,000 $154,811 $2,763 4.03%
    $100,000 or less 83 $4,095,000 $49,337 $315 3.86%
    $400k-600k 35 $16,655,000 $475,857 $5,218 4.25%
    $600k-1MM 10 $6,800,000 $680,000 $7,181 4.96%
    $1MM+ 6 $15,340,000 $2,556,667 $12,016 4.57%

    2022 saw Greenfield Savings Bank place emphasis on $200k-400k loans with 177 originations, totaling $50,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 93 $15,235,000 $163,817 $2,653 3.91%
    $75k-100k 73 $15,605,000 $213,767 $3,110 4.19%
    $100k-150k 72 $16,610,000 $230,694 $3,184 4.17%
    $150k-250k 64 $17,630,000 $275,469 $3,575 4.12%
    $50k or less 33 $3,775,000 $114,394 $2,226 3.50%
    $250k+ 30 $10,600,000 $353,333 $3,602 4.34%

    Greenfield Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $75k-100k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $19,735,000 $207,737 $3,036 3.92%
    30-36% 76 $15,370,000 $202,237 $2,586 3.94%
    <20% 39 $8,115,000 $208,077 $3,059 4.05%
    40% 26 $6,230,000 $239,615 $3,458 4.24%
    42% 24 $4,870,000 $202,917 $3,010 3.99%
    41% 19 $4,125,000 $217,105 $3,435 4.34%
    37% 17 $3,225,000 $189,706 $3,185 4.05%
    38% 16 $3,200,000 $200,000 $3,301 3.93%
    39% 14 $2,860,000 $204,286 $3,217 4.03%
    36% 11 $2,755,000 $250,455 $3,352 4.40%
    43% 7 $1,615,000 $230,714 $3,022 4.03%
    >60% 3 $95,000 $31,667 $226 0.00%
    45% 3 $745,000 $248,333 $3,728 4.08%
    50-60% 2 $440,000 $220,000 $52 4.06%
    44% 2 $450,000 $225,000 $4,839 3.63%
    46% 1 $275,000 $275,000 $3,614 3.63%

    Greenfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 331 $72,095,000 $217,810 $3,039 4.05%
    Not applicable 42 $28,250,000 $672,619 $0 4.90%
    Not provided 32 $5,810,000 $181,563 $2,447 3.94%
    Black 4 $920,000 $230,000 $4,113 3.81%
    Asian 3 $855,000 $285,000 $4,194 4.37%
    American Indian 2 $810,000 $405,000 $3,927 3.75%
    Other Asian 2 $510,000 $255,000 $4,409 4.69%
    Asian Indian 1 $215,000 $215,000 $4,357 3.88%

    Approval Rates

    Total approvals of all applications
    93.22%

    Greenfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.45%

    Greenfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 5 $165,000 $33,000
    NA 412 $109,300,000 $265,291

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    417 $109,465,000 $262,506

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $10,700,000 $198,148 $1,503 4.06%
    40-60% 72 $17,650,000 $245,139 $3,075 3.87%
    60-80% 141 $50,375,000 $357,270 $4,321 4.33%
    80-100% 86 $27,460,000 $319,302 $4,431 4.20%
    Under 20% 64 $3,280,000 $51,250 $143 3.92%