Walden Savings Bank Mortgage Rates, Fees & Info

Montgomery, NY

LEI: 549300W2DSERWC01YR18

Tax ID: 14-1155630

5 stars - Updated: 10/29/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Walden Savings Bank is a smaller bank specializing in Home Purchase loans. Walden Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Poughkeepsie, Kingston, New York, and Gloversville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Walden 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. Walden 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 relatively high 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 6.42% 10/29/24
    30 Year Conventional Refi 5.98% 10/29/24
    30 Year Cash-out Refi 6.43% 10/29/24
    15 Year Conventional Purchase 6.10% 10/29/24
    15 Year Conventional Refi 5.45% 10/29/24
    15 Year Cash-out Refi 5.45% 10/29/24
    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.

    Walden Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Walden 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

    267

    Origination Dollar Volume (All Markets)

    $78,895,000
    Show all (8) awards

    Relative Rate

    Walden Savings Bank's average 30 year fixed mortgage rate was 6.06%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.42%.

    Relative Fees (Closing Costs)

    Walden Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,163.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 170 $52,270,000 $307,471 $2,673 6.39%
    KINGSTON, NY (FHA|USDA|VA) 51 $12,445,000 $244,020 $2,419 6.37%
    Outside of Metro Areas 32 $9,300,000 $290,625 $3,269 6.27%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $4,405,000 $338,846 $3,500 5.70%
    Gloversville, NY (FHA|USDA|VA) 1 $475,000 $475,000 $4,854 6.63%
    Walden Savings Bank's top markets include Poughkeepsie, Kingston, New York, and Gloversville among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

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

    Walden Savings Bank
    Similarity Rank: 40
    Municipal Credit Union
    Similarity Rank: 209
    MID-HUDSON VALLEY
    Similarity Rank: 224
    TEG Federal Credit Union
    Similarity Rank: 252
    Ulster Savings Bank
    Similarity Rank: 301
    HUDSON VALLEY CREDIT UNION
    Similarity Rank: 462
    TrustCo Bank
    Similarity Rank: 700
    NBT Bank
    Similarity Rank: 846
    ARK MORTGAGE, INC.
    Similarity Rank: 1908
    FM Home Loans, LLC
    Similarity Rank: 2982

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 267 $78,895,000 $295,487 $2,748 6.34%

    For 2023, Walden Savings Bank's most frequently originated type of loan was Conventional, with 267 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 161 $65,225,000 $405,124 $3,921 6.08%
    Home Improvement 47 $4,525,000 $96,277 $708 6.92%
    Cash Out Refi 26 $5,270,000 $202,692 $1,589 6.67%
    Other 23 $1,695,000 $73,696 $520 6.74%
    Refi 10 $2,180,000 $218,000 $1,917 5.96%

    For 2023, Walden Savings Bank's most frequently cited loan purpose was Home Purchase, with 161 originations. The 2nd most popular reason was Home Improvement, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 99 $31,795,000 $321,162 $3,163 6.06%
    30+ year 71 $30,545,000 $430,211 $5,067 5.94%
    20 Year 46 $11,900,000 $258,696 $480 7.22%
    10 Year 27 $1,585,000 $58,704 $244 6.67%
    15 Year 17 $1,185,000 $69,706 $779 6.70%
    5 Year 6 $1,250,000 $208,333 $178 6.35%
    Other 1 $635,000 $635,000 $4,960 6.25%

    For 2023, Walden Savings Bank's most frequently cited loan duration was 30 Year, with 99 originations. The 2nd most popular length was 30+ year, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 87 $23,765,000 $273,161
    $1k-2k 65 $28,625,000 $440,385
    $2k-3k 6 $2,140,000 $356,667
    $3k-4k 6 $3,480,000 $580,000
    $4k-5k 2 $600,000 $300,000

    Walden Savings Bank's average total fees were $3,163, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 138 $34,360,000 $248,986
    5-6% 66 $23,470,000 $355,606
    7-8% 34 $4,180,000 $122,941
    4-5% 21 $8,885,000 $423,095
    Over 8% 8 $8,000,000 $1,000,000

    During 2023, Walden Savings Bank's average interest rate for loans was 6.06%, while their most frequently originated rate bucket for loans was 6-7%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 98 $29,870,000 $304,796 $3,612 6.14%
    $100,000 or less 71 $3,875,000 $54,577 $305 6.84%
    $400k-600k 44 $20,930,000 $475,682 $4,573 5.83%
    $100k-200k 36 $5,070,000 $140,833 $1,863 6.59%
    $600k-1MM 15 $10,245,000 $683,000 $5,142 6.07%
    $1MM+ 3 $8,905,000 $2,968,333 $9,813 6.67%

    2023 saw Walden Savings Bank place emphasis on $200k-400k loans with 98 originations, totaling $29,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $19,995,000 $266,600 $2,858 6.34%
    $150k-250k 69 $21,645,000 $313,696 $3,094 6.29%
    $75k-100k 48 $8,160,000 $170,000 $1,947 6.40%
    $250k+ 29 $14,675,000 $506,034 $4,041 5.94%
    $50k-75k 29 $4,225,000 $145,690 $2,143 6.63%
    $50k or less 10 $610,000 $61,000 $1,330 6.22%

    Walden Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $150k-250k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $12,865,000 $273,723 $2,794 6.14%
    30-36% 42 $11,790,000 $280,714 $2,749 6.46%
    41% 19 $5,435,000 $286,053 $2,820 6.57%
    43% 16 $4,640,000 $290,000 $3,370 5.99%
    42% 16 $3,600,000 $225,000 $1,952 6.41%
    40% 14 $3,270,000 $233,571 $2,537 6.19%
    39% 14 $4,020,000 $287,143 $3,339 6.23%
    36% 13 $3,495,000 $268,846 $2,552 6.26%
    <20% 12 $2,420,000 $201,667 $2,267 6.10%
    45% 12 $3,510,000 $292,500 $2,941 6.20%
    37% 10 $2,300,000 $230,000 $2,637 6.28%
    47% 9 $2,305,000 $256,111 $2,430 6.19%
    46% 9 $2,485,000 $276,111 $3,716 6.67%
    44% 7 $1,415,000 $202,143 $1,550 6.68%
    48% 7 $1,415,000 $202,143 $2,745 6.77%
    38% 6 $2,960,000 $493,333 $4,294 6.25%
    50-60% 6 $1,100,000 $183,333 $1,686 6.83%
    49% 2 $560,000 $280,000 $2,802 5.88%

    Walden Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $54,240,000 $271,200 $2,715 6.34%
    Not provided 44 $10,720,000 $243,636 $2,624 6.40%
    Not applicable 6 $9,310,000 $1,551,667 $0 7.29%
    Asian 6 $1,590,000 $265,000 $4,328 5.60%
    Black 5 $1,025,000 $205,000 $2,416 6.10%
    Other Asian 3 $745,000 $248,333 $3,321 5.21%
    Asian Indian 1 $555,000 $555,000 $4,169 6.88%
    1 $365,000 $365,000 $2,967 6.00%
    Chinese 1 $345,000 $345,000 $3,181 6.88%

    Approval Rates

    Total approvals of all applications
    95.58%

    Walden Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    73.03%

    Walden Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 267 $78,895,000 $295,487

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    267 $78,895,000 $295,487

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $11,025,000 $408,333 $1,165 6.92%
    40-60% 30 $9,820,000 $327,333 $3,784 6.12%
    60-80% 68 $25,750,000 $378,676 $3,997 6.07%
    80-100% 72 $28,290,000 $392,917 $4,021 6.03%
    Under 20% 70 $4,010,000 $57,286 $392 6.79%