Northwest Community Bank Mortgage Rates, Fees & Info

Winsted, CT

LEI: 254900W4EKVR6GZ0KS84

Tax ID: 06-0448680

5 stars - Updated: 4/5/25 - out of 5 stars, based on 14 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Northwest Community Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Northwest Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsfield, Bennington, Barre, Worcester, and Springfield among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northwest Community 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. Northwest Community 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
    30 Year Conventional Purchase 6.63% 4/5/25
    30 Year Cash-out Refi 6.73% 4/5/25
    15 Year Conventional Purchase 6.48% 4/5/25
    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.

    Northwest Community Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Northwest Community 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

    210

    Origination Dollar Volume (All Markets)

    $72,390,000

    Awards

    Northwest Community Bank 30 Year Conventional Loans gold Northwest Community Bank 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Northwest Community Bank's average 30 year fixed mortgage rate was 6.48%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.07%.

    Relative Fees (Closing Costs)

    Northwest Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,237.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    Outside of Metro Areas 205 $70,205,000 $342,463 $2,813 6.56%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $7,632 6.50%
    Bennington, VT (FHA|USDA|VA) 1 $505,000 $505,000 $6,320 6.13%
    Barre, VT (FHA|USDA|VA) 1 $255,000 $255,000 $2,324 6.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.13%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
    Northwest Community Bank's top markets include Pittsfield, Bennington, Barre, Worcester, and Springfield among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $72,390,000 $344,714 $2,844 6.56%

    For 2024, Northwest Community Bank's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 105 $41,435,000 $394,619 $4,575 6.50%
    Cash Out Refi 49 $25,305,000 $516,429 $2,239 6.69%
    Home Improvement 29 $2,955,000 $101,897 $475 6.60%
    Other 24 $1,820,000 $75,833 $269 6.49%
    Refi 3 $875,000 $291,667 $0 6.78%

    For 2024, Northwest Community Bank's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 94 $32,930,000 $350,319 $4,237 6.48%
    20 Year 58 $18,530,000 $319,483 $552 6.81%
    10 Year 20 $1,080,000 $54,000 $178 6.36%
    30+ year 18 $13,080,000 $726,667 $5,689 6.46%
    15 Year 15 $1,675,000 $111,667 $473 6.51%
    5 Year 3 $55,000 $18,333 $0 6.33%
    Other 2 $5,040,000 $2,520,000 $0 6.75%

    For 2024, Northwest Community Bank's most frequently cited loan duration was 30 Year, with 94 originations. The 2nd most popular length was 20 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 157 $45,905,000 $292,389
    $1k-2k 7 $3,175,000 $453,571
    $2k-3k 1 $265,000 $265,000

    Northwest Community Bank's average total fees were $4,237, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 174 $59,600,000 $342,529
    7-8% 23 $7,675,000 $333,696
    5-6% 12 $3,930,000 $327,500
    4-5% 1 $1,185,000 $1,185,000

    During 2024, Northwest Community Bank's average interest rate for loans was 6.48%, while their most frequently originated rate bucket for loans was 6-7%, with 174 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 64 $17,800,000 $278,125 $3,680 6.51%
    $100,000 or less 46 $2,470,000 $53,696 $268 6.56%
    $100k-200k 42 $6,060,000 $144,286 $1,330 6.72%
    $400k-600k 27 $12,725,000 $471,296 $4,792 6.54%
    $600k-1MM 18 $13,090,000 $727,222 $5,637 6.56%
    $1MM+ 13 $20,245,000 $1,557,308 $7,205 6.32%

    2024 saw Northwest Community Bank place emphasis on $200k-400k loans with 64 originations, totaling $17,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $11,695,000 $238,673 $2,712 6.61%
    $150k-250k 39 $9,825,000 $251,923 $2,609 6.50%
    $250k+ 38 $23,860,000 $627,895 $4,950 6.47%
    $75k-100k 27 $4,115,000 $152,407 $2,107 6.48%
    $50k-75k 19 $2,005,000 $105,526 $1,527 6.38%
    $50k or less 5 $255,000 $51,000 $706 6.53%

    Northwest Community Bank lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $150k-250k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $10,800,000 $257,143 $2,850 6.48%
    20-30% 37 $8,005,000 $216,351 $2,439 6.54%
    42% 18 $3,330,000 $185,000 $1,737 6.59%
    <20% 14 $6,300,000 $450,000 $3,500 6.43%
    38% 13 $3,885,000 $298,846 $2,679 6.56%
    40% 10 $1,520,000 $152,000 $2,038 6.43%
    41% 10 $4,490,000 $449,000 $4,151 6.54%
    36% 7 $2,725,000 $389,286 $2,571 6.45%
    39% 7 $1,865,000 $266,429 $3,066 6.63%
    37% 5 $1,175,000 $235,000 $2,074 6.55%
    48% 5 $3,315,000 $663,000 $5,075 6.45%
    50-60% 3 $2,155,000 $718,333 $5,803 6.46%
    43% 3 $705,000 $235,000 $3,638 6.54%
    46% 2 $560,000 $280,000 $4,406 6.50%
    44% 2 $580,000 $290,000 $1,976 6.50%
    47% 1 $385,000 $385,000 $4,342 6.38%
    45% 1 $595,000 $595,000 $4,676 6.38%
    49% 1 $615,000 $615,000 $5,632 6.38%

    Northwest Community Bank lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 125 $32,825,000 $262,600 $2,513 6.49%
    Not applicable 29 $19,385,000 $668,448 $0 6.88%
    Not provided 47 $16,875,000 $359,043 $3,660 6.60%
    Asian 4 $1,750,000 $437,500 $3,341 5.91%
    Black 3 $795,000 $265,000 $4,086 6.79%
    American Indian 2 $760,000 $380,000 $4,138 6.50%

    Approval Rates

    Total approvals of all applications
    95.91%

    Northwest Community 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
    86.19%

    Northwest Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 210 $72,390,000 $344,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    210 $72,390,000 $344,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $5,480,000 $171,250 $1,454 6.59%
    40-60% 22 $4,410,000 $200,455 $2,555 6.55%
    60-80% 81 $38,435,000 $474,506 $3,934 6.69%
    80-100% 41 $22,445,000 $547,439 $5,074 6.31%
    Under 20% 34 $1,620,000 $47,647 $93 6.53%