Newtown Savings Bank Mortgage Rates, Fees & Info

Newtown, CT

LEI: 549300YFPHIE78XPP635

Tax ID: 06-0472240

5 stars - Updated: 4/5/25 - out of 5 stars, based on 28 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Newtown Savings Bank is a smaller bank specializing in Home Purchase loans. Newtown Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.)

    Newtown 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. Newtown 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
    Home Equity Line of Credit (HELOC) 6.95% 4/5/25
    30 Year Conventional Purchase 6.50% 4/5/25
    30 Year Conventional Refi 6.53% 4/5/25
    30 Year Cash-out Refi 6.58% 4/5/25
    30 Year FHA Purchase 6.77% 4/5/25
    15 Year Conventional Purchase 5.75% 4/5/25
    15 Year Conventional Refi 5.47% 4/5/25
    15 Year Cash-out Refi 5.47% 4/5/25
    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.

    Newtown Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Newtown 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

    762

    Origination Dollar Volume (All Markets)

    $305,300,000

    Awards

    Newtown Savings Bank 30 Year Conventional Loans gold Newtown Savings Bank 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Newtown Savings Bank's average 30 year fixed mortgage rate was 6.89%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.34%.

    Relative Fees (Closing Costs)

    Newtown Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,934.

    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 $8,356.

    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
    Outside of Metro Areas 762 $305,300,000 $400,656 $5,842 6.85%
    Newtown Savings Bank's top markets include

    Their top states include:
  • Connecticut (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 560 $280,210,000 $500,375 $5,773 6.34%
    HELOC 195 $22,315,000 $114,436 n/a 8.36%
    FHA 6 $2,360,000 $393,333 $12,403 5.73%
    VA 1 $415,000 $415,000 $3,298 5.25%

    For 2024, Newtown Savings Bank's most frequently originated type of loan was Conventional, with 560 originations. Their 2nd most popular type was HELOC, with 195 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 479 $213,785,000 $446,315 $6,103 6.34%
    Other 130 $15,310,000 $117,769 $2,998 8.28%
    Refi 91 $24,315,000 $267,198 $4,729 7.51%
    Cash Out Refi 39 $14,865,000 $381,154 $4,610 6.34%
    Home Improvement 23 $37,025,000 $1,609,783 $4,003 7.67%

    For 2024, Newtown Savings Bank's most frequently cited loan purpose was Home Purchase, with 479 originations. The 2nd most popular reason was Other, with 130 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 709 $247,415,000 $348,963 $5,934 6.89%
    30+ year 18 $11,770,000 $653,889 $5,735 6.57%
    15 Year 14 $5,350,000 $382,143 $4,996 5.70%
    20 Year 9 $20,435,000 $2,270,556 $4,528 6.18%
    Other 7 $19,725,000 $2,817,857 $3,851 6.41%
    10 Year 5 $605,000 $121,000 $2,025 8.13%

    For 2024, Newtown Savings Bank's most frequently cited loan duration was 30 Year, with 709 originations. The 2nd most popular length was 30+ year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 431 $186,325,000 $432,309
    $2k-3k 36 $17,020,000 $472,778
    $3k-4k 27 $14,335,000 $530,926
    $5k+ 25 $12,925,000 $517,000
    $4k-5k 16 $9,260,000 $578,750
    $<1k 9 $915,000 $101,667

    Newtown Savings Bank's average total fees were $5,934, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 431 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 362 $203,220,000 $561,381
    5-6% 175 $68,145,000 $389,400
    Over 8% 156 $18,110,000 $116,090
    7-8% 67 $14,535,000 $216,940
    4-5% 2 $1,290,000 $645,000

    During 2024, Newtown Savings Bank's average interest rate for loans was 6.89%, while their most frequently originated rate bucket for loans was 6-7%, with 362 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 257 $74,865,000 $291,304 $5,263 6.55%
    $400k-600k 152 $72,380,000 $476,184 $6,279 6.39%
    $100k-200k 125 $17,505,000 $140,040 $4,296 7.40%
    $600k-1MM 111 $84,085,000 $757,523 $7,089 6.41%
    $100,000 or less 99 $5,545,000 $56,010 $1,326 8.23%
    $1MM+ 18 $50,920,000 $2,828,889 $8,843 6.47%

    2024 saw Newtown Savings Bank place emphasis on $200k-400k loans with 257 originations, totaling $74,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 258 $93,350,000 $361,822 $5,973 6.91%
    $100k-150k 171 $47,585,000 $278,275 $5,729 6.87%
    $250k+ 169 $95,595,000 $565,651 $6,788 6.87%
    $75k-100k 92 $20,790,000 $225,978 $4,967 6.70%
    $50k-75k 56 $9,200,000 $164,286 $4,363 6.68%
    $50k or less 7 $625,000 $89,286 $3,530 7.57%

    Newtown Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 258 originations. The second most popular income band? $100k-150k, with 171 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 186 $65,760,000 $353,548 $5,835 6.86%
    20-30% 186 $69,790,000 $375,215 $5,919 6.85%
    <20% 51 $15,105,000 $296,176 $5,024 6.93%
    42% 42 $12,870,000 $306,429 $5,743 7.36%
    40% 41 $15,035,000 $366,707 $6,684 7.17%
    39% 37 $14,295,000 $386,351 $5,336 7.14%
    41% 30 $10,350,000 $345,000 $6,358 6.65%
    38% 30 $8,720,000 $290,667 $4,872 6.90%
    36% 28 $9,430,000 $336,786 $5,894 6.64%
    37% 28 $8,280,000 $295,714 $5,678 7.10%
    44% 21 $9,225,000 $439,286 $6,398 6.33%
    43% 20 $7,720,000 $386,000 $5,623 6.46%
    46% 14 $4,780,000 $341,429 $5,959 6.41%
    49% 13 $5,645,000 $434,231 $5,663 6.56%
    47% 10 $4,360,000 $436,000 $6,813 6.35%
    45% 9 $2,885,000 $320,556 $5,711 6.31%
    48% 7 $2,895,000 $413,571 $6,913 6.14%

    Newtown Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 186 originations. The next most common DTI ratio? 20-30%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 631 $211,825,000 $335,697 $5,678 6.91%
    Not applicable 8 $37,740,000 $4,717,500 $0 6.71%
    Asian 50 $25,830,000 $516,600 $6,590 6.38%
    Not provided 56 $23,890,000 $426,607 $6,802 6.82%
    Black 12 $3,750,000 $312,500 $5,427 6.30%
    Other Asian 2 $940,000 $470,000 $8,587 6.44%
    American Indian 2 $700,000 $350,000 $4,546 6.50%
    Asian Indian 1 $625,000 $625,000 $5,755 6.50%

    Approval Rates

    Total approvals of all applications
    91.38%

    Newtown Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.28%

    Newtown Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 762 $305,300,000 $400,656

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    762 $305,300,000 $400,656

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 104 $20,100,000 $193,269 $4,380 7.55%
    40-60% 87 $47,475,000 $545,690 $4,947 6.37%
    60-80% 216 $123,800,000 $573,148 $6,111 6.41%
    80-100% 226 $104,470,000 $462,257 $6,324 6.34%
    Under 20% 129 $9,455,000 $73,295 $1,245 8.27%