Newtown Savings Bank Mortgage Rates, Fees & Info

Newtown, CT

LEI: 549300YFPHIE78XPP635

Tax ID: 06-0472240

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
  • Complaints
  • 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

    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.) Their top markets by origination volume include: Bridgeport, New Haven, Torrington, Hartford, and Providence among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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
    Home Equity Line of Credit (HELOC) 5.72% 4/21/24
    30 Year Conventional Purchase 5.57% 4/21/24
    30 Year Conventional Refi 5.92% 4/21/24
    30 Year Cash-out Refi 6.20% 4/21/24
    30 Year FHA Purchase 6.46% 4/21/24
    15 Year Conventional Purchase 5.60% 4/21/24
    15 Year Conventional Refi 5.74% 4/21/24
    15 Year Cash-out Refi 5.74% 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.

    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

    797

    Origination Dollar Volume (All Markets)

    $232,785,000

    Employee count

    246 Show all (9) 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
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 529 $163,705,000 $309,461 $3,818 4.32%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 179 $43,335,000 $242,095 $3,299 4.56%
    Torrington, CT (FHA|USDA|VA) 66 $19,070,000 $288,939 $3,510 4.31%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 13 $3,125,000 $240,385 $3,288 4.49%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $950,000 $475,000 $3,472 4.38%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 4 $950,000 $237,500 $3,323 3.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $595,000 $595,000 $4,296 4.25%
    Outside of Metro Areas 1 $505,000 $505,000 $3,163 3.13%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $405,000 $405,000 $4,106 5.13%
    Rutland, VT (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.88%
    Newtown Savings Bank's top markets include Bridgeport, New Haven, Torrington, Hartford, and Providence among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Newtown 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: 60
    Stafford Savings Bank
    Similarity Rank: 68
    Charter Oak Federal Credit Union
    Similarity Rank: 78
    PeoplesBank
    Similarity Rank: 104
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 144
    Union Savings Bank
    Similarity Rank: 152
    Sanborn Mortgage Corporation
    Similarity Rank: 160
    The Torrington Savings Bank
    Similarity Rank: 176
    The First National Bank of Long Island
    Similarity Rank: 236
    Chelsea Groton Bank
    Similarity Rank: 264

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 783 $229,025,000 $292,497 $3,566 4.38%
    FHA 14 $3,760,000 $268,571 $8,445 4.24%

    For 2018, Newtown Savings Bank's most frequently originated type of loan was Conventional, with 783 originations. Their 2nd most popular type was FHA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 562 $171,720,000 $305,552 $4,134 4.40%
    Refi 107 $30,425,000 $284,346 $2,817 4.19%
    Cash Out Refi 83 $24,405,000 $294,036 $2,874 4.26%
    Other 34 $4,130,000 $121,471 $1,440 4.78%
    Home Improvement 11 $2,105,000 $191,364 $1,891 4.45%

    For 2018, Newtown Savings Bank's most frequently cited loan purpose was Home Purchase, with 562 originations. The 2nd most popular reason was Refi, with 107 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 570 $168,880,000 $296,281 $3,945 4.34%
    15 Year 88 $16,450,000 $186,932 $2,748 4.18%
    30+ year 64 $31,330,000 $489,531 $4,119 4.44%
    20 Year 44 $9,770,000 $222,045 $2,223 5.01%
    10 Year 21 $2,035,000 $96,905 $1,326 4.52%
    Other 8 $4,210,000 $526,250 $3,812 4.52%
    5 Year 2 $110,000 $55,000 $387 4.38%

    For 2018, Newtown Savings Bank's most frequently cited loan duration was 30 Year, with 570 originations. The 2nd most popular length was 15 Year, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 570 $179,090,000 $314,193
    $1k-2k 98 $22,430,000 $228,878
    $2k-3k 17 $4,585,000 $269,706
    $3k-4k 13 $4,515,000 $347,308
    $5k+ 5 $2,035,000 $407,000
    $4k-5k 4 $1,800,000 $450,000

    Newtown Savings Bank's average total fees were $3,945, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 570 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 461 $137,835,000 $298,991
    3-4% 240 $75,960,000 $316,500
    5-6% 87 $17,075,000 $196,264
    2.5-3% 5 $1,785,000 $357,000
    6-7% 4 $130,000 $32,500

    During 2018, Newtown Savings Bank's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 4-5%, with 461 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 392 $112,650,000 $287,372 $3,807 4.28%
    $100k-200k 169 $25,565,000 $151,272 $3,073 4.48%
    $400k-600k 103 $48,695,000 $472,767 $4,511 4.22%
    $100,000 or less 88 $5,470,000 $62,159 $1,639 4.83%
    $600k-1MM 34 $25,070,000 $737,353 $5,187 4.18%
    $1MM+ 11 $15,335,000 $1,394,091 $5,886 4.34%

    2018 saw Newtown Savings Bank place emphasis on $200k-400k loans with 392 originations, totaling $112,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 223 $57,405,000 $257,422 $3,487 4.40%
    $150k-250k 173 $61,795,000 $357,197 $3,997 4.27%
    $75k-100k 132 $29,630,000 $224,470 $3,462 4.44%
    $50k-75k 126 $23,140,000 $183,651 $3,387 4.35%
    $250k+ 90 $49,520,000 $550,222 $4,577 4.27%
    $50k or less 38 $4,700,000 $123,684 $2,735 4.52%

    Newtown Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 223 originations. The second most popular income band? $150k-250k, with 173 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 191 $56,465,000 $295,628 $3,828 4.35%
    30-36% 149 $46,285,000 $310,638 $3,648 4.32%
    <20% 40 $10,850,000 $271,250 $3,741 4.36%
    42% 38 $9,970,000 $262,368 $3,000 4.47%
    40% 36 $9,510,000 $264,167 $3,292 4.64%
    39% 34 $11,400,000 $335,294 $3,778 4.26%
    38% 32 $7,530,000 $235,313 $3,258 4.39%
    41% 32 $9,140,000 $285,625 $4,165 4.66%
    36% 32 $7,800,000 $243,750 $3,287 4.30%
    37% 31 $9,765,000 $315,000 $3,282 4.39%
    43% 25 $7,265,000 $290,600 $4,352 4.24%
    44% 24 $8,080,000 $336,667 $3,945 4.19%
    47% 23 $5,415,000 $235,435 $3,913 4.21%
    49% 22 $5,740,000 $260,909 $3,464 4.20%
    45% 22 $5,730,000 $260,455 $3,418 4.29%
    46% 21 $4,645,000 $221,190 $3,231 4.62%
    48% 16 $4,750,000 $296,875 $3,226 4.28%
    50-60% 13 $5,525,000 $425,000 $5,207 4.29%
    >60% 1 $325,000 $325,000 $3,270 4.25%

    Newtown Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 191 originations. The next most common DTI ratio? 30-36%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 717 $208,905,000 $291,360 $3,646 4.36%
    Asian 29 $8,865,000 $305,690 $4,108 4.23%
    Not applicable 15 $6,595,000 $439,667 $0 5.15%
    Black 17 $4,675,000 $275,000 $4,434 4.45%
    Not provided 12 $2,420,000 $201,667 $3,213 4.23%
    Asian Indian 2 $570,000 $285,000 $3,222 3.88%
    Native Hawaiian or Islander 2 $430,000 $215,000 $3,391 5.44%
    American Indian 1 $145,000 $145,000 $0 4.25%
    Other Asian 1 $135,000 $135,000 $0 5.38%
    Filipino 1 $45,000 $45,000 $386 4.75%

    Approval Rates

    Total approvals of all applications
    93.52%

    Newtown Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.69%

    Newtown Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 797 $232,785,000 $292,077

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,600,000 $900,000
    Single Family (1-4 Units):Site-Built 793 $229,185,000 $289,010

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $9,790,000 $195,800 $2,597 4.31%
    40-60% 86 $20,980,000 $243,953 $3,142 4.17%
    60-80% 336 $106,340,000 $316,488 $3,727 4.36%
    80-100% 294 $93,900,000 $319,388 $4,232 4.38%
    Over 100% 1 $455,000 $455,000 $3,078 4.25%
    Under 20% 30 $1,320,000 $44,000 $610 5.18%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    NATIONS LENDING CORPORATION FHA mortgage Trouble during payment process 1 12.5%
    NATIONS LENDING CORPORATION Other type of mortgage Improper use of your report 1 12.5%
    NATIONS LENDING CORPORATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 12.5%
    NATIONS LENDING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    NATIONS LENDING CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    NATIONS LENDING CORPORATION FHA mortgage Closing on a mortgage 1 12.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Newtown Savings Bank 12 Berkshire Road Sandy Hook, CT 6482 Limited, Mobile/Seasonal Office $0
    Newtown Savings Bank 194a Leavenworth Road Shelton, CT 6484 Full Service B&M $35,787
    Newtown Savings Bank 211 Greenwood Avenue Bethel, CT 6801 Full Service B&M $58,082
    Newtown Savings Bank 228 South Main Street, Route 25, Sand Hill Plaza Newtown, CT 6470 Full Service B&M $50,227
    Newtown Savings Bank 238 Main Street Woodbury, CT 6798 Full Service B&M $45,981
    Newtown Savings Bank 280 Oxford Road Oxford, CT 6478 Full Service B&M $41,574
    Newtown Savings Bank 30 Main Street Danbury, CT 6810 Full Service B&M $37,572
    Newtown Savings Bank 32 Church Hill Road Newtown, CT 6470 Full Service B&M $322,418
    Newtown Savings Bank 39 Main Street Newtown, CT 6470 Limited, Mobile/Seasonal Office $0
    Newtown Savings Bank 39 Main Street Newtown, CT 6470 Full Service B&M $0
    Newtown Savings Bank 477 Main Street Monroe, CT 6468 Full Service B&M $29,434
    Newtown Savings Bank 535 Monroe Turnpike Monroe, CT 6468 Full Service B&M $64,450
    Newtown Savings Bank 66-68 Stony Hill Road Bethel, CT 6801 Full Service B&M $44,278
    Newtown Savings Bank 685 Main Street South Southbury, CT 6488 Full Service B&M $92,164
    Newtown Savings Bank 80 Heritage Road Southbury, CT 6488 Limited, Mobile/Seasonal Office $0
    Newtown Savings Bank 815 Bridgeport Avenue Shelton, CT 6484 Full Service B&M $36,235
    Newtown Savings Bank 926 White Plains Road Trumbull, CT 6611 Full Service B&M $62,948
    Newtown Savings Bank 99 Federal Road Brookfield, CT 6804 Full Service B&M $51,358

    For 2018, Newtown Savings Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $49,937
    Net interest income $40,492
    Total noninterest income $10,571
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,904
    Trading account gains and fees $0
    Additional Noninterest Income $7,667
    Pre-tax net operating income $10,420
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,893
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,893
    Minority interest net income $0
    Net income $8,893
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,893

    Newtown Savings Bank's gross interest income from loans was $49,937,000.
    Newtown Savings Bank's net interest income from loans was $40,492,000.
    Newtown Savings Bank's fee based income from loans was $2,904,000.
    Newtown Savings Bank's net income from loans was $8,893,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,445
    Provision for credit losses $1,500
    Total noninterest expense $39,143
    Salaries and employee benefits $21,062
    Premises and equipment expense $5,756
    Additional noninterest expense $12,325
    Applicable income taxes $1,527
    Net charge-offs $982
    Cash dividends $500

    Newtown Savings Bank's interest expense for loans was $9,445,000.
    Newtown Savings Bank's payroll and benefits expense were $21,062,000.
    Newtown Savings Bank's property, plant and equipment expenses $5,756,000.

    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 1.0%
    Personal loans 0.0%
    Credit card loans 0.6%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,026,870
    Deposits held in domestic offices $1,026,870
    Deposits by Individuals, partnerships, and corporations $994,453
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $31,569
    Deposits by Commercial banks and other depository institutions in U.S. $848
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $232,804
    Demand deposits $43,901
    Nontransaction accounts $794,066
    Money market deposit accounts (MMDAs) $137,242
    Other savings deposits (excluding MMDAs) $396,275
    Total time deposits $260,549
    Total time and savings deposits $982,969
    Noninterest-bearing deposits $197,382
    Interest-bearing deposits $829,488
    Retail deposits $991,045
    IRAs and Keogh plan accounts $37,721
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,318,237
    Cash & Balances due from depository institutions $45,655
    Interest-bearing balances $25,978
    Total securities $132,020
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,073,889
    Loan and leases loss allowance $9,311
    Trading account assets $0
    Bank premises and fixed assets $20,477
    Other real estate owned $374
    Goodwill and other intangibles $3,864
    All other assets $41,958

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,318,237
    Total Liabilities $1,218,335
    Total deposits $1,026,870
    Interest-bearing deposits $829,488
    Deposits held in domestic offices $1,026,870
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $18,875
    Trading liabilities $0
    Other borrowed funds $150,700
    Subordinated debt $0
    All other liabilities $21,890

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,073,889
    Loan and leases loss allowance $9,311
    Total loans and leases (domestic) $1,083,200
    All real estate loans $977,638
    Real estate loans in domestic offices $977,638
    Construction and development loans $62,892
    Residential 1-4 family construction $39,447
    Other construction, all land development and other land $23,445
    Loans secured by nonfarm nonresidential properties $204,960
    Nonfarm nonresidential secured by owner-occupied properties $86,593
    Commercial real estate & other non-farm, non-residential $118,367
    Multifamily residential real estate $21,868
    1-4 family residential loans $687,752
    Farmland loans $166
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $77,966
    To non-U.S. addressees $0
    Loans to individuals $27,346
    Credit card loans $1,391
    Related Plans $287
    Consumer Auto Loans $14,859
    Other loans to individuals $10,809
    All other loans & leases $249
    Loans to foreign governments and official institutions $0
    Other loans $249
    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 $11,399
    Non 1-4 family restructured loans & leases $6,499
    Total loans and leases (foreign) $0

    Newtown Savings Bank had $1,073,889,000 of loans outstanding in 2018. $977,638,000 of loans were in real estate loans. $62,892,000 of loans were in development loans. $21,868,000 of loans were in multifamily mortgage loans. $687,752,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,391,000 of loans were in credit card loans. $14,859,000 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 196 $63,086 $321,867
    Nonfarm, nonresidential loans - <$100k 13 $673 $51,769
    Nonfarm, nonresidential loans - $100-250k 55 $7,283 $132,418
    Nonfarm, nonresidential loans - $250k-1MM 128 $55,130 $430,703
    Commercial & Industrial, US addressed loans - <$1MM 622 $27,928 $44,900
    Commercial & Industrial, US addressed loans - <$100k 490 $6,731 $13,737
    Commercial & Industrial, US addressed loans - $100-250k 66 $6,147 $93,136
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $15,050 $228,030
    Farmland loans - <$1MM 1 $166 $166,000
    Farmland loans - $100-250k 1 $166 $166,000