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, Cash Out Refi, and Refi 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 7 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.

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    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

    1,409

    Origination Dollar Volume (All Markets)

    $439,975,000

    Employee count

    243

    Awards

    Newtown Savings Bank 30 Year Conventional Loans silver
    Show all (1) 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) 916 $308,310,000 $336,583 $4,019 3.15%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 318 $81,900,000 $257,547 $3,558 3.18%
    Torrington, CT (FHA|USDA|VA) 142 $40,050,000 $282,042 $3,815 3.24%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 30 $8,650,000 $288,333 $3,866 3.18%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $425,000 $425,000 $2,573 2.88%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $335,000 $335,000 $3,563 2.63%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $305,000 $305,000 $3,060 2.63%
    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)
  • Rhode Island (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.

    Stafford Savings Bank
    Similarity Rank: 266
    Collinsville Bank
    Similarity Rank: 490
    U S WIDE FINANCIAL LLC
    Similarity Rank: 608
    SILVERMINE VENTURES LLC
    Similarity Rank: 750
    Ridgewood Savings Bank
    Similarity Rank: 756
    Chelsea Groton Bank
    Similarity Rank: 760
    Charter Oak Federal Credit Union
    Similarity Rank: 924
    SIKORSKY FINANCIAL
    Similarity Rank: 1005
    POLISH NATIONAL
    Similarity Rank: 1017
    NUTMEG STATE FINANCIAL
    Similarity Rank: 1043

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,387 $433,045,000 $312,217 $3,796 3.16%
    FHA 22 $6,930,000 $315,000 $9,632 3.28%

    For 2020, Newtown Savings Bank's most frequently originated type of loan was Conventional, with 1,387 originations. Their 2nd most popular type was FHA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 501 $161,145,000 $321,647 $4,935 3.26%
    Cash Out Refi 499 $151,485,000 $303,577 $3,365 3.12%
    Refi 388 $124,940,000 $322,010 $3,346 3.04%
    Home Improvement 11 $1,295,000 $117,727 $2,423 3.88%
    Other 10 $1,110,000 $111,000 $1,817 4.54%

    For 2020, Newtown Savings Bank's most frequently cited loan purpose was Home Purchase, with 501 originations. The 2nd most popular reason was Cash Out Refi, with 499 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 877 $280,615,000 $319,971 $4,236 3.26%
    15 Year 310 $84,870,000 $273,774 $3,274 2.84%
    20 Year 124 $39,890,000 $321,694 $3,310 3.13%
    30+ year 44 $24,280,000 $551,818 $4,608 3.63%
    10 Year 36 $5,060,000 $140,556 $2,264 3.28%
    Other 18 $5,260,000 $292,222 $3,146 3.09%

    For 2020, Newtown Savings Bank's most frequently cited loan duration was 30 Year, with 877 originations. The 2nd most popular length was 15 Year, with 310 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,201 $373,325,000 $310,845
    $2k-3k 69 $23,375,000 $338,768
    $<1k 60 $15,480,000 $258,000
    $3k-4k 17 $6,245,000 $367,353
    $4k-5k 15 $5,165,000 $344,333
    $5k+ 15 $6,235,000 $415,667

    Newtown Savings Bank's average total fees were $4,236, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,201 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 750 $256,770,000 $342,360
    2.5-3% 595 $172,435,000 $289,807
    4-5% 32 $5,930,000 $185,313
    <2.5% 24 $4,300,000 $179,167
    5-6% 7 $485,000 $69,286
    6-7% 1 $55,000 $55,000

    During 2020, Newtown Savings Bank's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 750 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 801 $232,265,000 $289,969 $3,834 3.14%
    $100k-200k 266 $41,420,000 $155,714 $3,195 3.10%
    $400k-600k 234 $110,620,000 $472,735 $4,739 3.19%
    $600k-1MM 50 $36,790,000 $735,800 $5,412 3.24%
    $100,000 or less 47 $3,105,000 $66,064 $2,305 3.74%
    $1MM+ 11 $15,775,000 $1,434,091 $5,617 3.52%

    2020 saw Newtown Savings Bank place emphasis on $200k-400k loans with 801 originations, totaling $232,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 399 $139,995,000 $350,865 $3,932 3.16%
    $100k-150k 371 $109,165,000 $294,245 $3,854 3.15%
    $75k-100k 221 $54,755,000 $247,760 $3,839 3.15%
    $250k+ 182 $88,520,000 $486,374 $4,287 3.16%
    $50k-75k 176 $35,120,000 $199,545 $3,690 3.18%
    $50k or less 55 $7,545,000 $137,182 $3,411 3.20%

    Newtown Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 399 originations. The second most popular income band? $100k-150k, with 371 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 429 $135,325,000 $315,443 $3,795 3.13%
    30-36% 281 $87,105,000 $309,982 $3,786 3.18%
    <20% 191 $53,335,000 $279,241 $3,564 3.03%
    42% 55 $20,065,000 $364,818 $3,509 3.32%
    41% 51 $15,715,000 $308,137 $4,332 3.37%
    43% 49 $13,375,000 $272,959 $3,827 3.16%
    36% 46 $15,690,000 $341,087 $3,927 3.30%
    38% 43 $14,315,000 $332,907 $4,168 3.16%
    39% 43 $15,835,000 $368,256 $4,276 3.17%
    37% 42 $12,820,000 $305,238 $4,083 3.16%
    40% 40 $11,960,000 $299,000 $3,840 3.30%
    44% 39 $11,165,000 $286,282 $4,499 3.26%
    46% 24 $7,270,000 $302,917 $4,462 3.07%
    45% 17 $5,495,000 $323,235 $3,820 3.14%
    48% 16 $4,690,000 $293,125 $4,311 3.26%
    47% 16 $4,240,000 $265,000 $4,673 3.06%
    49% 12 $3,170,000 $264,167 $3,290 3.17%
    50-60% 9 $2,975,000 $330,556 $9,273 3.44%
    >60% 1 $555,000 $555,000 $4,547 3.38%

    Newtown Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 429 originations. The next most common DTI ratio? 30-36%, with 281 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,280 $394,510,000 $308,211 $3,881 3.16%
    Not provided 55 $17,485,000 $317,909 $3,727 3.13%
    Asian 50 $16,260,000 $325,200 $3,774 3.12%
    Black 14 $5,780,000 $412,857 $5,631 3.21%
    Not applicable 5 $4,875,000 $975,000 $0 4.33%
    Asian Indian 2 $490,000 $245,000 $2,969 3.13%
    Native Hawaiian or Islander 1 $245,000 $245,000 $3,775 3.38%
    1 $215,000 $215,000 $8,186 3.50%
    Other Asian 1 $115,000 $115,000 $4,132 2.88%

    Approval Rates

    Total approvals of all applications
    93.80%

    Newtown Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.83%

    Newtown Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,409 $439,975,000 $312,260

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $3,725,000 $3,725,000
    Single Family (1-4 Units):Site-Built 1,408 $436,250,000 $309,837

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $14,260,000 $187,632 $3,053 2.92%
    40-60% 247 $66,985,000 $271,194 $3,286 3.03%
    60-80% 659 $218,865,000 $332,117 $3,714 3.18%
    80-100% 405 $138,355,000 $341,617 $4,818 3.21%
    Under 20% 22 $1,510,000 $68,636 $1,383 4.32%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NATIONS LENDING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%
    NATIONS LENDING CORPORATION VA mortgage Closing on a mortgage 1 7.7%
    NATIONS LENDING CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 15.4%
    NATIONS LENDING CORPORATION FHA mortgage Closing on a mortgage 2 15.4%
    NATIONS LENDING CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 30.8%
    NATIONS LENDING CORPORATION Conventional home mortgage Closing on a mortgage 3 23.1%

    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 $49,394
    Newtown Savings Bank 211 Greenwood Ave Bethel, CT 6801 Full Service B&M $61,853
    Newtown Savings Bank 228 South Main Street, Route 25, Sand Hill Plaza Newtown, CT 6470 Full Service B&M $59,478
    Newtown Savings Bank 238 Main Street Woodbury, CT 6798 Full Service B&M $61,601
    Newtown Savings Bank 280 Oxford Road Oxford, CT 6478 Full Service B&M $44,247
    Newtown Savings Bank 30 Main Street Danbury, CT 6810 Full Service B&M $74,555
    Newtown Savings Bank 32 Church Hill Road Newtown, CT 6470 Full Service B&M $351,816
    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 $34,065
    Newtown Savings Bank 535 Monroe Turnpike Monroe, CT 6468 Full Service B&M $80,522
    Newtown Savings Bank 66-68 Stony Hill Road Bethel, CT 6801 Full Service B&M $52,629
    Newtown Savings Bank 685 Main Street South Southbury, CT 6488 Full Service B&M $128,673
    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 $47,118
    Newtown Savings Bank 926 White Plains Road Trumbull, CT 6611 Full Service B&M $69,378
    Newtown Savings Bank 99 Federal Road Brookfield, CT 6804 Full Service B&M $70,026

    For 2020, Newtown Savings Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,286
    Net interest income $42,225
    Total noninterest income $25,522
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,945
    Trading account gains and fees $0
    Additional Noninterest Income $23,577
    Pre-tax net operating income $10,866
    Securities gains (or losses, -) $86
    Income before extraordinary items $8,869
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,869
    Minority interest net income $0
    Net income $8,869
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,799

    Newtown Savings Bank's gross interest income from loans was $50,286,000.
    Newtown Savings Bank's net interest income from loans was $42,225,000.
    Newtown Savings Bank's fee based income from loans was $1,945,000.
    Newtown Savings Bank's net income from loans was $8,869,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,061
    Provision for credit losses $11,790
    Total noninterest expense $45,091
    Salaries and employee benefits $25,873
    Premises and equipment expense $6,014
    Additional noninterest expense $13,204
    Applicable income taxes $2,083
    Net charge-offs $1,176
    Cash dividends $0

    Newtown Savings Bank's interest expense for loans was $8,061,000.
    Newtown Savings Bank's payroll and benefits expense were $25,873,000.
    Newtown Savings Bank's property, plant and equipment expenses $6,014,000.

    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 0.0%
    Personal loans 1.0%
    Credit card loans 1.5%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,264,266
    Deposits held in domestic offices $1,264,266
    Deposits by Individuals, partnerships, and corporations $1,191,546
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $62,922
    Deposits by Commercial banks and other depository institutions in U.S. $9,798
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $402,634
    Demand deposits $211,463
    Nontransaction accounts $861,632
    Money market deposit accounts (MMDAs) $151,244
    Other savings deposits (excluding MMDAs) $523,149
    Total time deposits $187,239
    Total time and savings deposits $1,052,803
    Noninterest-bearing deposits $289,211
    Interest-bearing deposits $975,055
    Retail deposits $1,236,020
    IRAs and Keogh plan accounts $31,950
    Brokered deposits $14,446
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,573,156
    Cash & Balances due from depository institutions $294,970
    Interest-bearing balances $273,100
    Total securities $170,517
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,030,599
    Loan and leases loss allowance $20,770
    Trading account assets $0
    Bank premises and fixed assets $20,635
    Other real estate owned $391
    Goodwill and other intangibles $6,742
    All other assets $49,302

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,573,156
    Total Liabilities $1,454,468
    Total deposits $1,264,266
    Interest-bearing deposits $975,055
    Deposits held in domestic offices $1,264,266
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $162,890
    Subordinated debt $0
    All other liabilities $27,312

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,030,599
    Loan and leases loss allowance $20,770
    Total loans and leases (domestic) $1,051,369
    All real estate loans $891,626
    Real estate loans in domestic offices $891,626
    Construction and development loans $72,763
    Residential 1-4 family construction $32,090
    Other construction, all land development and other land $40,673
    Loans secured by nonfarm nonresidential properties $233,836
    Nonfarm nonresidential secured by owner-occupied properties $97,434
    Commercial real estate & other non-farm, non-residential $136,402
    Multifamily residential real estate $23,111
    1-4 family residential loans $561,760
    Farmland loans $156
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $138,491
    To non-U.S. addressees $0
    Loans to individuals $21,099
    Credit card loans $1,276
    Related Plans $134
    Consumer Auto Loans $11,181
    Other loans to individuals $8,508
    All other loans & leases $153
    Loans to foreign governments and official institutions $0
    Other loans $153
    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 $10,301
    Non 1-4 family restructured loans & leases $6,063
    Total loans and leases (foreign) $0

    Newtown Savings Bank had $1,030,599,000 of loans outstanding in 2020. $891,626,000 of loans were in real estate loans. $72,763,000 of loans were in development loans. $23,111,000 of loans were in multifamily mortgage loans. $561,760,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,276,000 of loans were in credit card loans. $11,181,000 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 201 $64,710 $321,940
    Nonfarm, nonresidential loans - <$100k 11 $649 $59,000
    Nonfarm, nonresidential loans - $100-250k 56 $6,956 $124,214
    Nonfarm, nonresidential loans - $250k-1MM 134 $57,105 $426,157
    Commercial & Industrial, US addressed loans - <$1MM 947 $56,274 $59,423
    Commercial & Industrial, US addressed loans - <$100k 739 $15,726 $21,280
    Commercial & Industrial, US addressed loans - $100-250k 118 $13,560 $114,915
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $26,988 $299,867
    Farmland loans - <$1MM 1 $156 $156,000
    Farmland loans - $100-250k 1 $156 $156,000