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 Cash Out Refi and 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 Norwich among others. We have data for 5 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

    1,185

    Origination Dollar Volume (All Markets)

    $382,175,000

    Employee count

    232

    Awards

    Newtown Savings Bank 30 Year Conventional Loans bronze Newtown Savings Bank FHA Loans bronze Newtown Savings Bank FHA Loans gold
    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) 772 $266,950,000 $345,790 $4,275 2.97%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 248 $69,510,000 $280,282 $3,766 3.00%
    Torrington, CT (FHA|USDA|VA) 133 $36,635,000 $275,451 $3,961 2.97%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 31 $8,875,000 $286,290 $4,219 2.98%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $205,000 $205,000 $3,574 2.63%
    Newtown Savings Bank's top markets include Bridgeport, New Haven, Torrington, Hartford, and Norwich among others.

    Their top states include:
  • Connecticut (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: 376
    Sanborn Mortgage Corporation
    Similarity Rank: 435
    BNB Bank
    Similarity Rank: 590
    Ridgewood Savings Bank
    Similarity Rank: 591
    Charter Oak Federal Credit Union
    Similarity Rank: 654
    Chelsea Groton Bank
    Similarity Rank: 784
    PeoplesBank
    Similarity Rank: 900
    SIKORSKY FINANCIAL
    Similarity Rank: 906
    Fairfield County Bank
    Similarity Rank: 960
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 972

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,171 $377,925,000 $322,737 $4,061 2.98%
    FHA 14 $4,250,000 $303,571 $9,811 2.70%

    For 2021, Newtown Savings Bank's most frequently originated type of loan was Conventional, with 1,171 originations. Their 2nd most popular type was FHA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 492 $146,930,000 $298,638 $3,517 2.97%
    Home Purchase 446 $154,230,000 $345,807 $5,172 3.03%
    Refi 223 $71,975,000 $322,758 $3,538 2.87%
    Other 15 $4,445,000 $296,333 $3,467 3.18%
    Home Improvement 9 $4,595,000 $510,556 $3,150 3.21%

    For 2021, Newtown Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 492 originations. The 2nd most popular reason was Home Purchase, with 446 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 765 $249,195,000 $325,745 $4,415 3.07%
    15 Year 224 $58,530,000 $261,295 $3,450 2.62%
    20 Year 81 $23,845,000 $294,383 $3,403 3.00%
    30+ year 62 $33,520,000 $540,645 $4,743 3.22%
    Other 27 $12,135,000 $449,444 $3,640 3.04%
    10 Year 26 $4,950,000 $190,385 $2,885 2.72%

    For 2021, Newtown Savings Bank's most frequently cited loan duration was 30 Year, with 765 originations. The 2nd most popular length was 15 Year, with 224 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 979 $305,455,000 $312,007
    $2k-3k 100 $39,590,000 $395,900
    $3k-4k 20 $8,350,000 $417,500
    $5k+ 15 $8,375,000 $558,333
    $4k-5k 8 $2,880,000 $360,000
    $<1k 7 $2,015,000 $287,857

    Newtown Savings Bank's average total fees were $4,415, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 979 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 631 $199,255,000 $315,777
    3-4% 416 $148,810,000 $357,716
    <2.5% 131 $32,205,000 $245,840
    4-5% 7 $1,905,000 $272,143

    During 2021, Newtown Savings Bank's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 631 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 648 $188,670,000 $291,157 $3,940 2.97%
    $400k-600k 231 $109,415,000 $473,658 $5,094 3.03%
    $100k-200k 223 $34,045,000 $152,668 $3,293 2.90%
    $600k-1MM 47 $34,345,000 $730,745 $5,918 3.13%
    $100,000 or less 27 $2,045,000 $75,741 $2,789 3.09%
    $1MM+ 9 $13,655,000 $1,517,222 $6,504 3.22%

    2021 saw Newtown Savings Bank place emphasis on $200k-400k loans with 648 originations, totaling $188,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 313 $96,295,000 $307,652 $4,113 3.00%
    $150k-250k 292 $108,220,000 $370,616 $4,287 2.98%
    $75k-100k 209 $53,485,000 $255,909 $3,953 2.95%
    $50k-75k 165 $35,185,000 $213,242 $3,802 2.96%
    $250k+ 152 $77,380,000 $509,079 $4,744 2.94%
    $50k or less 49 $6,845,000 $139,694 $3,418 2.97%

    Newtown Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 313 originations. The second most popular income band? $150k-250k, with 292 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 347 $112,785,000 $325,029 $4,026 2.97%
    30-36% 235 $74,355,000 $316,404 $4,145 3.02%
    <20% 146 $44,180,000 $302,603 $3,742 2.81%
    42% 47 $16,195,000 $344,574 $4,082 3.03%
    40% 45 $17,535,000 $389,667 $4,558 3.02%
    36% 42 $12,450,000 $296,429 $4,174 3.00%
    44% 39 $11,905,000 $305,256 $4,149 3.05%
    37% 38 $11,330,000 $298,158 $4,263 2.98%
    41% 38 $12,900,000 $339,474 $4,455 3.04%
    38% 37 $10,235,000 $276,622 $3,971 3.09%
    39% 37 $12,105,000 $327,162 $4,266 2.97%
    43% 30 $9,780,000 $326,000 $4,504 3.00%
    49% 24 $7,390,000 $307,917 $4,663 2.93%
    45% 20 $6,340,000 $317,000 $4,220 2.98%
    46% 20 $5,840,000 $292,000 $4,752 2.92%
    47% 16 $5,970,000 $373,125 $4,654 3.05%
    48% 16 $5,230,000 $326,875 $4,897 2.98%
    50-60% 2 $700,000 $350,000 $3,256 2.94%
    >60% 1 $185,000 $185,000 $2,828 2.50%

    Newtown Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 347 originations. The next most common DTI ratio? 30-36%, with 235 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,090 $351,500,000 $322,477 $4,115 2.97%
    Not provided 40 $11,480,000 $287,000 $4,448 3.01%
    Asian 35 $10,565,000 $301,857 $3,818 2.93%
    Not applicable 5 $4,765,000 $953,000 $0 4.02%
    Black 15 $3,865,000 $257,667 $5,363 2.88%

    Approval Rates

    Total approvals of all applications
    95.35%

    Newtown Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.40%

    Newtown Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,185 $382,175,000 $322,511

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,185 $382,175,000 $322,511

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $15,070,000 $198,289 $3,281 2.74%
    40-60% 240 $66,800,000 $278,333 $3,562 2.86%
    60-80% 596 $205,710,000 $345,151 $3,904 3.03%
    80-100% 264 $93,830,000 $355,417 $5,399 3.01%
    Under 20% 9 $765,000 $85,000 $2,588 3.19%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NATIONS LENDING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 23.5%
    NATIONS LENDING CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.9%
    NATIONS LENDING CORPORATION Other type of mortgage Closing on a mortgage 1 5.9%
    NATIONS LENDING CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 11.8%
    NATIONS LENDING CORPORATION FHA mortgage Improper use of your report 1 5.9%
    NATIONS LENDING CORPORATION FHA mortgage Closing on a mortgage 3 17.6%
    NATIONS LENDING CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 23.5%
    NATIONS LENDING CORPORATION Conventional home mortgage Trouble during payment process 1 5.9%

    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 14 Candlewood Hbr Brookfield, CT 6804 Full Service B&M $109,874
    Newtown Savings Bank 194a Leavenworth Road Shelton, CT 6484 Full Service B&M $68,625
    Newtown Savings Bank 211 Greenwood Ave Bethel, CT 6801 Full Service B&M $69,567
    Newtown Savings Bank 238 Main Street Woodbury, CT 6798 Full Service B&M $69,709
    Newtown Savings Bank 274 South Main Street Newtown, CT 6470 Full Service B&M $72,747
    Newtown Savings Bank 280 Oxford Road Oxford, CT 6478 Full Service B&M $56,864
    Newtown Savings Bank 30 Main Street Danbury, CT 6810 Full Service B&M $77,627
    Newtown Savings Bank 32 Church Hill Road Newtown, CT 6470 Full Service B&M $343,217
    Newtown Savings Bank 39 Main St Newtown, CT 6470 Full Service B&M $0
    Newtown Savings Bank 39 Main Street Newtown, CT 6470 Limited, Mobile/Seasonal Office $0
    Newtown Savings Bank 477 Main Street Monroe, CT 6468 Full Service B&M $37,445
    Newtown Savings Bank 535 Monroe Turnpike Monroe, CT 6468 Full Service B&M $104,015
    Newtown Savings Bank 66-68 Stony Hill Road Bethel, CT 6801 Full Service B&M $61,029
    Newtown Savings Bank 685 Main Street South Southbury, CT 6488 Full Service B&M $137,343
    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 $53,590
    Newtown Savings Bank 926 White Plains Road Trumbull, CT 6611 Full Service B&M $82,491

    For 2021, Newtown Savings Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,493
    Net interest income $39,169
    Total noninterest income $17,989
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,926
    Trading account gains and fees $0
    Additional Noninterest Income $16,063
    Pre-tax net operating income $11,875
    Securities gains (or losses, -) $-163
    Income before extraordinary items $9,459
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,459
    Minority interest net income $0
    Net income $9,459
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,591

    Newtown Savings Bank's gross interest income from loans was $43,493,000.
    Newtown Savings Bank's net interest income from loans was $39,169,000.
    Newtown Savings Bank's fee based income from loans was $1,926,000.
    Newtown Savings Bank's net income from loans was $9,459,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,324
    Provision for credit losses $-1,750
    Total noninterest expense $47,033
    Salaries and employee benefits $26,645
    Premises and equipment expense $4,467
    Additional noninterest expense $15,921
    Applicable income taxes $2,253
    Net charge-offs $233
    Cash dividends $0

    Newtown Savings Bank's interest expense for loans was $4,324,000.
    Newtown Savings Bank's payroll and benefits expense were $26,645,000.
    Newtown Savings Bank's property, plant and equipment expenses $4,467,000.

    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 1.0%
    Credit card loans 0.4%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 3.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,475,614
    Deposits held in domestic offices $1,475,614
    Deposits by Individuals, partnerships, and corporations $1,366,221
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $103,463
    Deposits by Commercial banks and other depository institutions in U.S. $5,930
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $467,361
    Demand deposits $257,994
    Nontransaction accounts $1,008,253
    Money market deposit accounts (MMDAs) $199,476
    Other savings deposits (excluding MMDAs) $637,489
    Total time deposits $171,288
    Total time and savings deposits $1,217,620
    Noninterest-bearing deposits $341,866
    Interest-bearing deposits $1,133,748
    Retail deposits $1,459,022
    IRAs and Keogh plan accounts $29,011
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,748,267
    Cash & Balances due from depository institutions $534,602
    Interest-bearing balances $526,096
    Total securities $246,155
    Federal funds sold & reverse repurchase $0
    Net loans and leases $894,265
    Loan and leases loss allowance $18,787
    Trading account assets $0
    Bank premises and fixed assets $20,443
    Other real estate owned $322
    Goodwill and other intangibles $8,074
    All other assets $44,406

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,748,267
    Total Liabilities $1,621,318
    Total deposits $1,475,614
    Interest-bearing deposits $1,133,748
    Deposits held in domestic offices $1,475,614
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $119,890
    Subordinated debt $0
    All other liabilities $25,814

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $894,265
    Loan and leases loss allowance $18,787
    Total loans and leases (domestic) $913,052
    All real estate loans $784,272
    Real estate loans in domestic offices $784,272
    Construction and development loans $68,102
    Residential 1-4 family construction $32,604
    Other construction, all land development and other land $35,498
    Loans secured by nonfarm nonresidential properties $216,287
    Nonfarm nonresidential secured by owner-occupied properties $88,554
    Commercial real estate & other non-farm, non-residential $127,733
    Multifamily residential real estate $19,171
    1-4 family residential loans $480,712
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $104,520
    To non-U.S. addressees $0
    Loans to individuals $15,840
    Credit card loans $1,186
    Related Plans $129
    Consumer Auto Loans $7,504
    Other loans to individuals $7,021
    All other loans & leases $8,420
    Loans to foreign governments and official institutions $0
    Other loans $152
    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 $9,390
    Non 1-4 family restructured loans & leases $6,092
    Total loans and leases (foreign) $0

    Newtown Savings Bank had $894,265,000 of loans outstanding in 2021. $784,272,000 of loans were in real estate loans. $68,102,000 of loans were in development loans. $19,171,000 of loans were in multifamily mortgage loans. $480,712,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,186,000 of loans were in credit card loans. $7,504,000 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 185 $58,283 $315,043
    Nonfarm, nonresidential loans - <$100k 9 $515 $57,222
    Nonfarm, nonresidential loans - $100-250k 49 $5,732 $116,980
    Nonfarm, nonresidential loans - $250k-1MM 127 $52,036 $409,732
    Commercial & Industrial, US addressed loans - <$1MM 679 $32,494 $47,856
    Commercial & Industrial, US addressed loans - <$100k 536 $7,810 $14,571
    Commercial & Industrial, US addressed loans - $100-250k 76 $7,057 $92,855
    Commercial & Industrial, US addressed loans - $250k-1MM 67 $17,627 $263,090