Walden Savings Bank Mortgage Rates, Fees & Info

Montgomery, NY

LEI: 549300W2DSERWC01YR18

Tax ID: 14-1155630

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

    Walden Savings Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Walden Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Poughkeepsie, Kingston, New York, Miami, and Torrington among others. We have data for 10 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.42% 4/21/24
    30 Year Conventional Refi 5.98% 4/21/24
    30 Year Cash-out Refi 6.43% 4/21/24
    15 Year Conventional Purchase 6.10% 4/21/24
    15 Year Conventional Refi 5.45% 4/21/24
    15 Year Cash-out Refi 5.45% 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.

    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

    422

    Origination Dollar Volume (All Markets)

    $117,760,000

    Employee count

    145

    Awards

    Walden Savings Bank 30 Year Conventional Loans gold Walden Savings Bank 30 Year Conventional Loans gold Walden Savings Bank 30 Year Conventional Loans bronze Walden Savings Bank 30 Year Conventional Loans silver
    Show all (4) 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
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 292 $83,200,000 $284,932 $2,487 3.26%
    KINGSTON, NY (FHA|USDA|VA) 75 $18,365,000 $244,867 $2,396 3.33%
    Outside of Metro Areas 33 $8,105,000 $245,606 $2,777 3.33%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $6,010,000 $429,286 $3,998 3.29%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $595,000 $595,000 $5,756 5.00%
    Torrington, CT (FHA|USDA|VA) 1 $505,000 $505,000 $4,690 4.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $315,000 $315,000 $2,796 2.13%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $255,000 $255,000 $2,239 5.49%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $225,000 $75,000 $0 3.08%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $185,000 $185,000 $2,603 3.38%
    Walden Savings Bank's top markets include Poughkeepsie, Kingston, New York, Miami, and Torrington among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (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.

    ACADEMY MORTGAGE CORP.
    Similarity Rank: 492
    TEG Federal Credit Union
    Similarity Rank: 580
    MID-HUDSON VALLEY
    Similarity Rank: 640
    CCFCU FUNDING, LLC
    Similarity Rank: 672
    Municipal Credit Union
    Similarity Rank: 730
    Ulster Savings Bank
    Similarity Rank: 970
    Walden Savings Bank
    Similarity Rank: 1030
    ARK MORTGAGE, INC.
    Similarity Rank: 1216
    TrustCo Bank
    Similarity Rank: 1232
    Popular Bank
    Similarity Rank: 1530

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 422 $117,760,000 $279,052 $2,561 3.29%

    For 2021, Walden Savings Bank's most frequently originated type of loan was Conventional, with 422 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 175 $56,515,000 $322,943 $3,321 3.33%
    Refi 110 $28,710,000 $261,000 $2,195 2.89%
    Cash Out Refi 105 $29,095,000 $277,095 $2,228 3.21%
    Home Improvement 16 $1,850,000 $115,625 $773 4.70%
    Other 16 $1,590,000 $99,375 $782 4.63%

    For 2021, Walden Savings Bank's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Refi, with 110 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 205 $57,125,000 $278,659 $2,480 3.30%
    15 Year 82 $16,470,000 $200,854 $1,912 2.85%
    30+ year 74 $28,850,000 $389,865 $4,233 3.40%
    20 Year 39 $11,595,000 $297,308 $1,652 3.71%
    10 Year 9 $755,000 $83,889 $947 3.85%
    Other 8 $2,810,000 $351,250 $2,373 2.97%
    5 Year 5 $155,000 $31,000 $206 4.65%

    For 2021, Walden Savings Bank's most frequently cited loan duration was 30 Year, with 205 originations. The 2nd most popular length was 15 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 356 $100,460,000 $282,191
    $1k-2k 18 $6,640,000 $368,889
    $2k-3k 2 $630,000 $315,000
    $3k-4k 1 $425,000 $425,000
    $5k+ 1 $615,000 $615,000

    Walden Savings Bank's average total fees were $2,480, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 356 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 200 $64,840,000 $324,200
    2.5-3% 121 $31,905,000 $263,678
    <2.5% 51 $10,715,000 $210,098
    4-5% 36 $8,330,000 $231,389
    5-6% 12 $1,800,000 $150,000
    6-7% 2 $170,000 $85,000

    During 2021, Walden Savings Bank's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 3-4%, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 195 $56,825,000 $291,410 $2,624 3.16%
    $100k-200k 104 $15,720,000 $151,154 $2,032 3.14%
    $400k-600k 55 $26,405,000 $480,091 $4,009 3.35%
    $100,000 or less 47 $2,715,000 $57,766 $1,077 3.97%
    $600k-1MM 19 $12,845,000 $676,053 $4,066 3.42%
    $1MM+ 2 $3,250,000 $1,625,000 $0 4.00%

    2021 saw Walden Savings Bank place emphasis on $200k-400k loans with 195 originations, totaling $56,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 114 $31,040,000 $272,281 $2,459 3.34%
    $150k-250k 94 $32,770,000 $348,617 $2,989 3.21%
    $75k-100k 86 $18,470,000 $214,767 $2,415 3.24%
    $50k-75k 54 $9,320,000 $172,593 $2,127 3.22%
    $250k+ 37 $17,095,000 $462,027 $3,471 3.32%
    $50k or less 28 $3,100,000 $110,714 $1,788 3.40%

    Walden Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $150k-250k, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 99 $25,685,000 $259,444 $2,530 3.16%
    30-36% 81 $22,305,000 $275,370 $2,437 3.20%
    <20% 31 $7,965,000 $256,935 $2,301 2.99%
    42% 24 $7,640,000 $318,333 $3,384 3.27%
    45% 22 $5,340,000 $242,727 $2,477 3.29%
    36% 19 $4,845,000 $255,000 $2,228 3.30%
    40% 19 $4,085,000 $215,000 $2,201 3.26%
    38% 15 $4,425,000 $295,000 $2,724 3.43%
    44% 14 $4,550,000 $325,000 $2,693 3.38%
    41% 13 $3,945,000 $303,462 $2,797 3.32%
    48% 13 $4,005,000 $308,077 $2,910 3.68%
    39% 13 $3,175,000 $244,231 $2,667 3.75%
    37% 12 $2,910,000 $242,500 $2,132 3.35%
    49% 11 $2,895,000 $263,182 $2,572 3.34%
    43% 9 $2,315,000 $257,222 $2,687 3.29%
    47% 8 $2,060,000 $257,500 $2,311 3.55%
    46% 6 $1,650,000 $275,000 $2,968 3.42%
    50-60% 5 $1,945,000 $389,000 $3,225 4.33%
    >60% 2 $380,000 $190,000 $3,825 3.50%

    Walden Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 99 originations. The next most common DTI ratio? 30-36%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 302 $83,850,000 $277,649 $2,546 3.25%
    Not provided 89 $23,105,000 $259,607 $2,597 3.40%
    Black 12 $3,980,000 $331,667 $2,979 3.41%
    Not applicable 5 $3,435,000 $687,000 $0 3.85%
    Asian 8 $1,670,000 $208,750 $2,191 3.08%
    American Indian 5 $955,000 $191,000 $2,442 2.98%
    Asian Indian 1 $765,000 $765,000 $3,121 2.50%

    Approval Rates

    Total approvals of all applications
    91.02%

    Walden Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.11%

    Walden Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 422 $117,760,000 $279,052

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    422 $117,760,000 $279,052

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $4,520,000 $141,250 $1,974 3.26%
    40-60% 92 $22,610,000 $245,761 $2,243 3.02%
    60-80% 158 $49,100,000 $310,759 $2,830 3.26%
    80-100% 112 $39,550,000 $353,125 $3,100 3.23%
    Under 20% 26 $1,090,000 $41,923 $442 4.58%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Walden Savings Bank 127 East Main Street Washingtonville, NY 10992 Full Service B&M $88,414
    Walden Savings Bank 15 Scotts Corners Drive Montgomery, NY 12549 Full Service B&M $83,102
    Walden Savings Bank 2 Bank Street Walden, NY 12586 Full Service B&M $83,279
    Walden Savings Bank 21 Union Street Montgomery, NY 12549 Full Service B&M $52,997
    Walden Savings Bank 2108 Route 302 Circleville, NY 10919 Full Service B&M $57,651
    Walden Savings Bank 213 Quassaick Avenue New Windsor, NY 12553 Full Service B&M $48,053
    Walden Savings Bank 2356 State Route 44/55 Gardiner, NY 12525 Full Service B&M $36,582
    Walden Savings Bank 321 Hudson Street Cornwall On The Hudson, NY 12520 Full Service B&M $72,235
    Walden Savings Bank 50 Boniface Drive Pine Bush, NY 12566 Full Service B&M $127,234
    Walden Savings Bank 5239 Route 9w North Newburgh, NY 12550 Full Service B&M $30,425
    Walden Savings Bank 95 N Main St Florida, NY 10921 Full Service B&M $47,717

    For 2021, Walden Savings Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,589
    Net interest income $20,816
    Total noninterest income $6,256
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $840
    Trading account gains and fees $0
    Additional Noninterest Income $5,416
    Pre-tax net operating income $6,272
    Securities gains (or losses, -) $329
    Income before extraordinary items $5,281
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,281
    Minority interest net income $0
    Net income $5,281
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,017

    Walden Savings Bank's gross interest income from loans was $21,589,000.
    Walden Savings Bank's net interest income from loans was $20,816,000.
    Walden Savings Bank's fee based income from loans was $840,000.
    Walden Savings Bank's net income from loans was $5,281,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $773
    Provision for credit losses $-222
    Total noninterest expense $21,022
    Salaries and employee benefits $12,179
    Premises and equipment expense $2,894
    Additional noninterest expense $5,949
    Applicable income taxes $1,320
    Net charge-offs $-211
    Cash dividends $0

    Walden Savings Bank's interest expense for loans was $773,000.
    Walden Savings Bank's payroll and benefits expense were $12,179,000.
    Walden Savings Bank's property, plant and equipment expenses $2,894,000.

    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 0.0%
    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 $746,757
    Deposits held in domestic offices $746,757
    Deposits by Individuals, partnerships, and corporations $746,757
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $54,164
    Demand deposits $22,737
    Nontransaction accounts $692,593
    Money market deposit accounts (MMDAs) $34,143
    Other savings deposits (excluding MMDAs) $609,034
    Total time deposits $49,416
    Total time and savings deposits $724,020
    Noninterest-bearing deposits $171,139
    Interest-bearing deposits $575,618
    Retail deposits $740,247
    IRAs and Keogh plan accounts $9,129
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $821,151
    Cash & Balances due from depository institutions $66,851
    Interest-bearing balances $56,960
    Total securities $252,383
    Federal funds sold & reverse repurchase $0
    Net loans and leases $460,016
    Loan and leases loss allowance $5,560
    Trading account assets $0
    Bank premises and fixed assets $11,686
    Other real estate owned $98
    Goodwill and other intangibles $1,388
    All other assets $28,729

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $821,151
    Total Liabilities $752,959
    Total deposits $746,757
    Interest-bearing deposits $575,618
    Deposits held in domestic offices $746,757
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,202

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $460,016
    Loan and leases loss allowance $5,560
    Total loans and leases (domestic) $465,576
    All real estate loans $412,094
    Real estate loans in domestic offices $412,094
    Construction and development loans $36,591
    Residential 1-4 family construction $16,335
    Other construction, all land development and other land $20,256
    Loans secured by nonfarm nonresidential properties $133,024
    Nonfarm nonresidential secured by owner-occupied properties $77,535
    Commercial real estate & other non-farm, non-residential $55,489
    Multifamily residential real estate $19,500
    1-4 family residential loans $221,480
    Farmland loans $1,499
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $50,022
    To non-U.S. addressees $0
    Loans to individuals $2,934
    Credit card loans $0
    Related Plans $94
    Consumer Auto Loans $2,172
    Other loans to individuals $668
    All other loans & leases $526
    Loans to foreign governments and official institutions $0
    Other loans $526
    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 $9,687
    Non 1-4 family restructured loans & leases $1,297
    Total loans and leases (foreign) $0

    Walden Savings Bank had $460,016,000 of loans outstanding in 2021. $412,094,000 of loans were in real estate loans. $36,591,000 of loans were in development loans. $19,500,000 of loans were in multifamily mortgage loans. $221,480,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,172,000 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 189 $56,747 $300,249
    Nonfarm, nonresidential loans - <$100k 6 $424 $70,667
    Nonfarm, nonresidential loans - $100-250k 54 $6,813 $126,167
    Nonfarm, nonresidential loans - $250k-1MM 129 $49,510 $383,798
    Commercial & Industrial, US addressed loans - <$1MM 792 $36,698 $46,336
    Commercial & Industrial, US addressed loans - <$100k 606 $11,034 $18,208
    Commercial & Industrial, US addressed loans - $100-250k 103 $8,414 $81,689
    Commercial & Industrial, US addressed loans - $250k-1MM 83 $17,250 $207,831
    Farmland loans - <$1MM 2 $605 $302,500
    Farmland loans - $250k-1MM 2 $605 $302,500