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 Worcester among others. We have data for 9 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% 11/21/24
    30 Year Conventional Purchase 5.57% 11/21/24
    30 Year Conventional Refi 5.92% 11/21/24
    30 Year Cash-out Refi 6.20% 11/21/24
    30 Year FHA Purchase 6.46% 11/21/24
    15 Year Conventional Purchase 5.60% 11/21/24
    15 Year Conventional Refi 5.74% 11/21/24
    15 Year Cash-out Refi 5.74% 11/21/24
    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

    806

    Origination Dollar Volume (All Markets)

    $245,530,000

    Employee count

    250

    Awards

    Newtown Savings Bank 30 Year Conventional Loans silver Newtown Savings Bank 30 Year Conventional Loans silver Newtown Savings Bank 30 Year Conventional Loans bronze
    Show all (3) 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) 493 $155,745,000 $315,913 $3,962 3.98%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 190 $59,000,000 $310,526 $3,512 4.18%
    Torrington, CT (FHA|USDA|VA) 92 $22,210,000 $241,413 $3,856 3.97%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 26 $7,040,000 $270,769 $3,611 4.06%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $435,000 $435,000 $3,574 3.75%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $405,000 $405,000 $3,318 2.88%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.88%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $225,000 $225,000 $2,472 3.75%
    Concord, NH (FHA|USDA|VA) 1 $195,000 $195,000 $2,909 4.50%
    Newtown Savings Bank's top markets include Bridgeport, New Haven, Torrington, Hartford, and Worcester among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (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: 104
    The Torrington Savings Bank
    Similarity Rank: 115
    Stafford Savings Bank
    Similarity Rank: 124
    Collinsville Bank
    Similarity Rank: 156
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 208
    Chelsea Groton Bank
    Similarity Rank: 210
    The Milford Bank
    Similarity Rank: 240
    SIKORSKY FINANCIAL
    Similarity Rank: 245
    Charter Oak Federal Credit Union
    Similarity Rank: 258
    Ridgewood Savings Bank
    Similarity Rank: 318

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 780 $237,960,000 $305,077 $3,643 4.02%
    FHA 26 $7,570,000 $291,154 $8,931 4.20%

    For 2019, Newtown Savings Bank's most frequently originated type of loan was Conventional, with 780 originations. Their 2nd most popular type was FHA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 493 $152,235,000 $308,793 $4,413 4.07%
    Cash Out Refi 162 $47,080,000 $290,617 $3,190 3.85%
    Refi 106 $40,980,000 $386,604 $3,172 3.78%
    Other 23 $2,875,000 $125,000 $1,613 4.75%
    Home Improvement 22 $2,360,000 $107,273 $1,312 4.98%

    For 2019, Newtown Savings Bank's most frequently cited loan purpose was Home Purchase, with 493 originations. The 2nd most popular reason was Cash Out Refi, with 162 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 552 $164,870,000 $298,678 $4,181 4.04%
    15 Year 112 $25,500,000 $227,679 $3,106 3.54%
    30+ year 55 $27,035,000 $491,545 $4,142 4.40%
    20 Year 54 $15,730,000 $291,296 $2,553 4.47%
    10 Year 24 $2,480,000 $103,333 $1,518 4.22%
    Other 5 $9,685,000 $1,937,000 $3,478 3.83%
    5 Year 4 $230,000 $57,500 $393 4.44%

    For 2019, Newtown Savings Bank's most frequently cited loan duration was 30 Year, with 552 originations. The 2nd most popular length was 15 Year, with 112 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 483 $147,625,000 $305,642
    $<1k 196 $56,200,000 $286,735
    $2k-3k 17 $5,895,000 $346,765
    $3k-4k 8 $2,460,000 $307,500
    $4k-5k 7 $2,335,000 $333,571
    $5k+ 4 $1,510,000 $377,500

    Newtown Savings Bank's average total fees were $4,181, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 483 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 438 $141,190,000 $322,352
    4-5% 277 $84,665,000 $305,650
    5-6% 50 $9,090,000 $181,800
    2.5-3% 36 $10,110,000 $280,833
    6-7% 5 $475,000 $95,000

    During 2019, Newtown Savings Bank's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 3-4%, with 438 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 414 $118,680,000 $286,667 $4,024 3.91%
    $100k-200k 157 $23,675,000 $150,796 $3,323 4.13%
    $400k-600k 120 $55,560,000 $463,000 $4,569 3.94%
    $100,000 or less 79 $5,225,000 $66,139 $1,579 4.58%
    $600k-1MM 25 $18,135,000 $725,400 $4,786 3.96%
    $1MM+ 11 $24,255,000 $2,205,000 $5,850 4.22%

    2019 saw Newtown Savings Bank place emphasis on $200k-400k loans with 414 originations, totaling $118,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 204 $67,190,000 $329,363 $3,785 3.95%
    $100k-150k 192 $53,180,000 $276,979 $3,973 4.03%
    $75k-100k 135 $31,445,000 $232,926 $3,865 4.02%
    $250k+ 110 $52,480,000 $477,091 $4,305 3.90%
    $50k-75k 106 $19,470,000 $183,679 $3,425 4.03%
    $50k or less 35 $4,165,000 $119,000 $3,248 4.25%

    Newtown Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 204 originations. The second most popular income band? $100k-150k, with 192 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 222 $67,200,000 $302,703 $3,707 3.90%
    30-36% 154 $43,390,000 $281,753 $3,808 4.05%
    <20% 62 $16,150,000 $260,484 $3,500 3.81%
    42% 38 $8,690,000 $228,684 $3,018 4.33%
    38% 30 $9,590,000 $319,667 $3,745 4.11%
    40% 29 $8,475,000 $292,241 $3,544 4.06%
    39% 28 $8,200,000 $292,857 $3,884 3.87%
    37% 28 $9,450,000 $337,500 $4,299 3.95%
    41% 26 $8,990,000 $345,769 $4,200 3.92%
    43% 26 $9,330,000 $358,846 $4,189 4.09%
    36% 25 $6,585,000 $263,400 $3,669 4.23%
    48% 24 $7,350,000 $306,250 $4,707 3.96%
    46% 19 $4,425,000 $232,895 $3,589 4.05%
    44% 17 $5,565,000 $327,353 $4,033 3.77%
    47% 16 $3,950,000 $246,875 $4,315 4.13%
    45% 15 $4,145,000 $276,333 $3,858 4.20%
    49% 15 $4,045,000 $269,667 $4,563 4.13%
    50-60% 8 $2,400,000 $300,000 $6,764 4.42%

    Newtown Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 222 originations. The next most common DTI ratio? 30-36%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 730 $211,330,000 $289,493 $3,803 4.00%
    Not applicable 24 $17,600,000 $733,333 $0 5.03%
    Asian 24 $8,400,000 $350,000 $4,113 3.97%
    Not provided 14 $4,460,000 $318,571 $4,446 4.00%
    Black 10 $2,730,000 $273,000 $4,410 4.10%
    Native Hawaiian or Islander 2 $550,000 $275,000 $4,985 3.50%
    Asian Indian 1 $375,000 $375,000 $4,414 3.00%
    Korean 1 $85,000 $85,000 $3,714 3.63%

    Approval Rates

    Total approvals of all applications
    92.83%

    Newtown Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.48%

    Newtown Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 806 $245,530,000 $304,628

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $14,210,000 $1,776,250
    Single Family (1-4 Units):Site-Built 798 $231,320,000 $289,875

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $7,325,000 $149,490 $2,554 4.03%
    40-60% 82 $22,140,000 $270,000 $3,448 3.85%
    60-80% 352 $122,550,000 $348,153 $3,715 4.02%
    80-100% 293 $91,265,000 $311,485 $4,565 4.00%
    Under 20% 30 $2,250,000 $75,000 $843 5.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    NATIONS LENDING CORPORATION Conventional home mortgage Struggling to pay mortgage 2 18.2%
    NATIONS LENDING CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    NATIONS LENDING CORPORATION FHA mortgage Closing on a mortgage 1 9.1%
    NATIONS LENDING CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 36.4%
    NATIONS LENDING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 27.3%

    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 $46,778
    Newtown Savings Bank 211 Greenwood Avenue Bethel, CT 6801 Full Service B&M $58,352
    Newtown Savings Bank 228 South Main Street, Route 25, Sand Hill Plaza Newtown, CT 6470 Full Service B&M $50,234
    Newtown Savings Bank 238 Main Street Woodbury, CT 6798 Full Service B&M $58,009
    Newtown Savings Bank 280 Oxford Road Oxford, CT 6478 Full Service B&M $40,499
    Newtown Savings Bank 30 Main Street Danbury, CT 6810 Full Service B&M $48,787
    Newtown Savings Bank 32 Church Hill Road Newtown, CT 6470 Full Service B&M $312,935
    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 $29,949
    Newtown Savings Bank 535 Monroe Turnpike Monroe, CT 6468 Full Service B&M $66,715
    Newtown Savings Bank 66-68 Stony Hill Road Bethel, CT 6801 Full Service B&M $43,801
    Newtown Savings Bank 685 Main Street South Southbury, CT 6488 Full Service B&M $124,151
    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 $37,603
    Newtown Savings Bank 926 White Plains Road Trumbull, CT 6611 Full Service B&M $61,955
    Newtown Savings Bank 99 Federal Road Brookfield, CT 6804 Full Service B&M $59,010

    For 2019, Newtown Savings Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $52,796
    Net interest income $40,738
    Total noninterest income $12,589
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,783
    Trading account gains and fees $0
    Additional Noninterest Income $9,806
    Pre-tax net operating income $9,015
    Securities gains (or losses, -) $99
    Income before extraordinary items $7,360
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,360
    Minority interest net income $0
    Net income $7,360
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,279

    Newtown Savings Bank's gross interest income from loans was $52,796,000.
    Newtown Savings Bank's net interest income from loans was $40,738,000.
    Newtown Savings Bank's fee based income from loans was $2,783,000.
    Newtown Savings Bank's net income from loans was $7,360,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,058
    Provision for credit losses $2,850
    Total noninterest expense $41,462
    Salaries and employee benefits $23,267
    Premises and equipment expense $5,842
    Additional noninterest expense $12,353
    Applicable income taxes $1,754
    Net charge-offs $2,005
    Cash dividends $0

    Newtown Savings Bank's interest expense for loans was $12,058,000.
    Newtown Savings Bank's payroll and benefits expense were $23,267,000.
    Newtown Savings Bank's property, plant and equipment expenses $5,842,000.

    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 1.0%
    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 1.7%
    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 $1,032,030
    Deposits held in domestic offices $1,032,030
    Deposits by Individuals, partnerships, and corporations $960,176
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $47,896
    Deposits by Commercial banks and other depository institutions in U.S. $23,958
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $271,158
    Demand deposits $137,679
    Nontransaction accounts $760,872
    Money market deposit accounts (MMDAs) $109,807
    Other savings deposits (excluding MMDAs) $399,964
    Total time deposits $251,101
    Total time and savings deposits $894,351
    Noninterest-bearing deposits $197,211
    Interest-bearing deposits $834,819
    Retail deposits $995,550
    IRAs and Keogh plan accounts $35,200
    Brokered deposits $10,861
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,334,086
    Cash & Balances due from depository institutions $43,293
    Interest-bearing balances $27,362
    Total securities $154,454
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,069,536
    Loan and leases loss allowance $10,156
    Trading account assets $0
    Bank premises and fixed assets $20,210
    Other real estate owned $267
    Goodwill and other intangibles $4,846
    All other assets $41,480

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,334,086
    Total Liabilities $1,223,869
    Total deposits $1,032,030
    Interest-bearing deposits $834,819
    Deposits held in domestic offices $1,032,030
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $169,390
    Subordinated debt $0
    All other liabilities $22,449

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,069,536
    Loan and leases loss allowance $10,156
    Total loans and leases (domestic) $1,079,692
    All real estate loans $976,037
    Real estate loans in domestic offices $976,037
    Construction and development loans $70,144
    Residential 1-4 family construction $36,766
    Other construction, all land development and other land $33,378
    Loans secured by nonfarm nonresidential properties $224,883
    Nonfarm nonresidential secured by owner-occupied properties $85,660
    Commercial real estate & other non-farm, non-residential $139,223
    Multifamily residential real estate $23,740
    1-4 family residential loans $657,109
    Farmland loans $161
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $77,158
    To non-U.S. addressees $0
    Loans to individuals $26,182
    Credit card loans $1,550
    Related Plans $265
    Consumer Auto Loans $14,596
    Other loans to individuals $9,771
    All other loans & leases $314
    Loans to foreign governments and official institutions $0
    Other loans $314
    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 $10,532
    Non 1-4 family restructured loans & leases $6,183
    Total loans and leases (foreign) $0

    Newtown Savings Bank had $1,069,536,000 of loans outstanding in 2019. $976,037,000 of loans were in real estate loans. $70,144,000 of loans were in development loans. $23,740,000 of loans were in multifamily mortgage loans. $657,109,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,550,000 of loans were in credit card loans. $14,596,000 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 208 $67,231 $323,226
    Nonfarm, nonresidential loans - <$100k 11 $666 $60,545
    Nonfarm, nonresidential loans - $100-250k 61 $7,974 $130,721
    Nonfarm, nonresidential loans - $250k-1MM 136 $58,591 $430,816
    Commercial & Industrial, US addressed loans - <$1MM 601 $27,327 $45,469
    Commercial & Industrial, US addressed loans - <$100k 476 $6,489 $13,632
    Commercial & Industrial, US addressed loans - $100-250k 63 $5,637 $89,476
    Commercial & Industrial, US addressed loans - $250k-1MM 62 $15,201 $245,177
    Farmland loans - <$1MM 1 $161 $161,000
    Farmland loans - $100-250k 1 $161 $161,000