Fairfield County Bank Mortgage Rates, Fees & Info

Ridgefield, CT

LEI: U9WBLC3ZT2VBJSNY2Y81

Tax ID: 06-0510330

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

Jump to:

Mortgage Data

Bank Data

Review & Overview

Fairfield County Bank is a smaller bank specializing in Refi and Home Purchase loans. Fairfield County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New York, New Haven, Torrington, and Providence among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fairfield County 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. Fairfield County 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
30 Year Conventional Purchase 5.86% 3/27/24
30 Year Conventional Refi 6.14% 3/27/24
30 Year Cash-out Refi 6.63% 3/27/24
15 Year Conventional Purchase 5.48% 3/27/24
15 Year Conventional Refi 5.68% 3/27/24
15 Year Cash-out Refi 5.68% 3/27/24
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.

Fairfield County Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Fairfield County 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

610

Origination Dollar Volume (All Markets)

$272,420,000

Employee count

261

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) 540 $249,580,000 $462,185 $3,992 3.11%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 15 $6,705,000 $447,000 $5,005 3.10%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 26 $6,620,000 $254,615 $3,425 3.04%
Torrington, CT (FHA|USDA|VA) 9 $3,355,000 $372,778 $4,132 3.38%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $1,565,000 $521,667 $4,816 3.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 6 $1,220,000 $203,333 $3,130 3.02%
Lebanon, NH-VT (FHA|USDA|VA) 2 $750,000 $375,000 $4,456 2.60%
KINGSTON, NY (FHA|USDA|VA) 1 $435,000 $435,000 $3,797 3.00%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $430,000 $215,000 $2,819 3.50%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $385,000 $385,000 $3,381 3.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $375,000 $375,000 $2,843 3.50%
Bennington, VT (FHA|USDA|VA) 1 $375,000 $375,000 $5,400 3.38%
Outside of Metro Areas 1 $365,000 $365,000 $3,492 2.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,593 2.75%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $75,000 $75,000 $2,852 3.50%
Fairfield County Bank's top markets include Bridgeport, New York, New Haven, Torrington, and Providence among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Fairfield County Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    North Jersey Federal Credit Union
    Similarity Rank: 247
    Stafford Savings Bank
    Similarity Rank: 266
    N C P D Federal Credit Union
    Similarity Rank: 482
    Collinsville Bank
    Similarity Rank: 490
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Chelsea Groton Bank
    Similarity Rank: 760

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 610 $272,420,000 $446,590 $3,984 3.11%

    For 2020, Fairfield County Bank's most frequently originated type of loan was Conventional, with 610 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 326 $126,330,000 $387,515 $3,463 2.92%
    Home Purchase 242 $127,670,000 $527,562 $4,836 3.35%
    Cash Out Refi 32 $11,060,000 $345,625 $3,760 3.28%
    Other 7 $3,525,000 $503,571 $4,060 3.20%
    Home Improvement 3 $3,835,000 $1,278,333 $3,481 3.54%

    For 2020, Fairfield County Bank's most frequently cited loan purpose was Refi, with 326 originations. The 2nd most popular reason was Home Purchase, with 242 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 401 $161,285,000 $402,207 $4,144 3.19%
    15 Year 128 $48,490,000 $378,828 $3,524 2.65%
    Other 39 $33,355,000 $855,256 $4,217 3.73%
    20 Year 32 $11,670,000 $364,688 $3,822 3.15%
    10 Year 7 $1,835,000 $262,143 $3,378 3.00%
    30+ year 2 $14,610,000 $7,305,000 $0 3.88%
    1 Year 1 $1,175,000 $1,175,000 $0 5.75%

    For 2020, Fairfield County Bank's most frequently cited loan duration was 30 Year, with 401 originations. The 2nd most popular length was 15 Year, with 128 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 459 $191,435,000 $417,070
    $1k-2k 83 $29,345,000 $353,554
    $2k-3k 6 $2,540,000 $423,333
    $3k-4k 4 $1,550,000 $387,500
    $5k+ 3 $1,705,000 $568,333
    $4k-5k 2 $1,720,000 $860,000

    Fairfield County Bank's average total fees were $4,144, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 459 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 264 $105,250,000 $398,674
    3-4% 244 $112,050,000 $459,221
    <2.5% 75 $27,605,000 $368,067
    4-5% 19 $14,075,000 $740,789
    5-6% 7 $12,505,000 $1,786,429
    6-7% 1 $935,000 $935,000

    During 2020, Fairfield County Bank's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 264 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 251 $75,755,000 $301,813 $3,725 3.08%
    $400k-600k 168 $79,620,000 $473,929 $4,015 2.98%
    $100k-200k 75 $11,815,000 $157,533 $3,238 3.04%
    $600k-1MM 73 $53,895,000 $738,288 $4,920 3.20%
    $1MM+ 26 $50,000,000 $1,923,077 $7,260 4.01%
    $100,000 or less 17 $1,335,000 $78,529 $3,645 3.50%

    2020 saw Fairfield County Bank place emphasis on $200k-400k loans with 251 originations, totaling $75,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 189 $77,005,000 $407,434 $3,935 3.04%
    $250k+ 146 $86,780,000 $594,384 $4,567 3.04%
    $100k-150k 121 $38,135,000 $315,165 $3,635 3.00%
    $75k-100k 70 $19,990,000 $285,571 $3,802 3.07%
    $50k-75k 48 $10,360,000 $215,833 $3,809 3.14%
    $50k or less 15 $2,145,000 $143,000 $3,354 3.24%

    Fairfield County Bank lent most frequently to those with incomes in the $150k-250k range, with 189 originations. The second most popular income band? $250k+, with 146 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 190 $75,000,000 $394,737 $3,791 3.02%
    30-36% 110 $46,190,000 $419,909 $4,176 3.05%
    <20% 66 $28,470,000 $431,364 $3,941 2.92%
    40% 27 $12,865,000 $476,481 $4,973 3.09%
    38% 27 $10,745,000 $397,963 $4,135 3.20%
    36% 26 $9,150,000 $351,923 $4,166 3.11%
    37% 25 $9,615,000 $384,600 $4,104 3.01%
    39% 21 $9,315,000 $443,571 $3,721 3.13%
    43% 16 $5,900,000 $368,750 $4,135 2.97%
    41% 13 $5,065,000 $389,615 $3,925 3.21%
    45% 12 $3,540,000 $295,000 $3,872 3.23%
    42% 10 $4,510,000 $451,000 $4,000 3.14%
    47% 10 $2,980,000 $298,000 $3,975 3.07%
    48% 9 $2,695,000 $299,444 $3,179 3.22%
    49% 9 $2,215,000 $246,111 $3,286 3.10%
    44% 8 $2,820,000 $352,500 $3,882 3.01%
    46% 7 $2,395,000 $342,143 $3,899 3.07%
    50-60% 2 $370,000 $185,000 $4,354 3.69%
    >60% 1 $575,000 $575,000 $3,823 3.25%

    Fairfield County Bank lent most frequently to those with DTI ratios of 20-30%, with 190 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 436 $175,490,000 $402,500 $3,975 3.06%
    Not provided 102 $40,400,000 $396,078 $3,992 2.99%
    Not applicable 21 $38,005,000 $1,809,762 $0 4.88%
    Asian 38 $13,980,000 $367,895 $4,050 3.08%
    Asian Indian 4 $1,380,000 $345,000 $3,479 3.19%
    American Indian 3 $1,215,000 $405,000 $3,809 3.04%
    Black 3 $905,000 $301,667 $5,014 3.54%
    Other Asian 1 $445,000 $445,000 $5,316 2.88%
    Chinese 1 $335,000 $335,000 $3,234 2.63%
    Korean 1 $265,000 $265,000 $4,220 3.25%

    Approval Rates

    Total approvals of all applications
    93.03%

    Fairfield County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.08%

    Fairfield County Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 610 $272,420,000 $446,590

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $18,490,000 $4,622,500
    Single Family (1-4 Units):Site-Built 606 $253,930,000 $419,026

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $22,190,000 $443,800 $3,491 2.99%
    40-60% 131 $64,375,000 $491,412 $3,709 3.04%
    60-80% 306 $135,300,000 $442,157 $4,018 3.15%
    80-100% 113 $45,685,000 $404,292 $4,415 3.16%
    Under 20% 8 $1,690,000 $211,250 $3,802 2.72%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fairfield County Bank 1089 Madison Avenue Bridgeport, CT 6606 Full Service B&M $51,927
    Fairfield County Bank 114 Federal Road Danbury, CT 6811 Full Service B&M $56,574
    Fairfield County Bank 121 New Canaan Avenue Norwalk, CT 6850 Full Service B&M $49,741
    Fairfield County Bank 150 Danbury Road Ridgefield, CT 6877 Full Service B&M $264,378
    Fairfield County Bank 190 Old Ridgefield Road Wilton, CT 6897 Full Service B&M $51,426
    Fairfield County Bank 190 Weston Road Weston, CT 6883 Full Service B&M $39,547
    Fairfield County Bank 2 Mckinley Street Norwalk, CT 6853 Full Service B&M $99,760
    Fairfield County Bank 20 Compo Road South Westport, CT 6880 Full Service B&M $135,499
    Fairfield County Bank 2000 Post Road Suite 103 Fairfield, CT 6824 Full Service B&M $60,612
    Fairfield County Bank 255 Tunxis Hill Road Fairfield, CT 6825 Full Service B&M $95,121
    Fairfield County Bank 26 Chestnut Hill Road Norwalk, CT 6851 Full Service B&M $58,753
    Fairfield County Bank 374 Main St. Ridgefield, CT 6877 Full Service B&M $108,900
    Fairfield County Bank 69 Wall Street Norwalk, CT 6852 Full Service B&M $117,701
    Fairfield County Bank 714 Post Road Darien, CT 6820 Full Service B&M $68,275
    Fairfield County Bank 850 East Main Street Stamford, CT 6902 Full Service B&M $42,263
    Fairfield County Bank 941 Danbury Road Wilton, CT 6897 Full Service B&M $94,196

    For 2020, Fairfield County Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $61,047
    Net interest income $56,557
    Total noninterest income $19,095
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,494
    Trading account gains and fees $0
    Additional Noninterest Income $17,601
    Pre-tax net operating income $15,775
    Securities gains (or losses, -) $595
    Income before extraordinary items $12,824
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,824
    Minority interest net income $0
    Net income $12,824
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,353

    Fairfield County Bank's gross interest income from loans was $61,047,000.
    Fairfield County Bank's net interest income from loans was $56,557,000.
    Fairfield County Bank's fee based income from loans was $1,494,000.
    Fairfield County Bank's net income from loans was $12,824,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,490
    Provision for credit losses $4,383
    Total noninterest expense $55,494
    Salaries and employee benefits $36,143
    Premises and equipment expense $8,232
    Additional noninterest expense $11,119
    Applicable income taxes $3,546
    Net charge-offs $490
    Cash dividends $0

    Fairfield County Bank's interest expense for loans was $4,490,000.
    Fairfield County Bank's payroll and benefits expense were $36,143,000.
    Fairfield County Bank's property, plant and equipment expenses $8,232,000.

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

    Deposits

    Type Value (in 000's)
    Total deposits $1,371,729
    Deposits held in domestic offices $1,371,729
    Deposits by Individuals, partnerships, and corporations $1,304,074
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $67,405
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $155,784
    Demand deposits $61,812
    Nontransaction accounts $1,215,944
    Money market deposit accounts (MMDAs) $272,789
    Other savings deposits (excluding MMDAs) $828,652
    Total time deposits $114,503
    Total time and savings deposits $1,309,916
    Noninterest-bearing deposits $366,282
    Interest-bearing deposits $1,005,447
    Retail deposits $1,330,906
    IRAs and Keogh plan accounts $11,766
    Brokered deposits $1,195
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,717,248
    Cash & Balances due from depository institutions $83,530
    Interest-bearing balances $69,876
    Total securities $269,836
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,260,462
    Loan and leases loss allowance $15,424
    Trading account assets $0
    Bank premises and fixed assets $25,191
    Other real estate owned $0
    Goodwill and other intangibles $10,833
    All other assets $67,396

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,717,248
    Total Liabilities $1,487,708
    Total deposits $1,371,729
    Interest-bearing deposits $1,005,447
    Deposits held in domestic offices $1,371,729
    % insured (estimated) $62
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $77,033
    Subordinated debt $0
    All other liabilities $38,946

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,260,462
    Loan and leases loss allowance $15,424
    Total loans and leases (domestic) $1,275,886
    All real estate loans $991,819
    Real estate loans in domestic offices $991,819
    Construction and development loans $157,550
    Residential 1-4 family construction $43,116
    Other construction, all land development and other land $114,434
    Loans secured by nonfarm nonresidential properties $491,196
    Nonfarm nonresidential secured by owner-occupied properties $173,738
    Commercial real estate & other non-farm, non-residential $317,458
    Multifamily residential real estate $15,912
    1-4 family residential loans $327,161
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $279,615
    To non-U.S. addressees $0
    Loans to individuals $1,244
    Credit card loans $0
    Related Plans $113
    Consumer Auto Loans $0
    Other loans to individuals $1,131
    All other loans & leases $3,208
    Loans to foreign governments and official institutions $0
    Other loans $129
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $29,812
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $11,319
    Non 1-4 family restructured loans & leases $9,801
    Total loans and leases (foreign) $0

    Fairfield County Bank had $1,260,462,000 of loans outstanding in 2020. $991,819,000 of loans were in real estate loans. $157,550,000 of loans were in development loans. $15,912,000 of loans were in multifamily mortgage loans. $327,161,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 402 $115,488 $287,284
    Nonfarm, nonresidential loans - <$100k 39 $1,562 $40,051
    Nonfarm, nonresidential loans - $100-250k 106 $13,691 $129,160
    Nonfarm, nonresidential loans - $250k-1MM 257 $100,235 $390,019
    Commercial & Industrial, US addressed loans - <$1MM 2,315 $139,196 $60,128
    Commercial & Industrial, US addressed loans - <$100k 1,670 $29,409 $17,610
    Commercial & Industrial, US addressed loans - $100-250k 388 $40,976 $105,608
    Commercial & Industrial, US addressed loans - $250k-1MM 257 $68,811 $267,747