Northern Mortgage Services Rates, Fees & Info
GRAND RAPIDS, MILEI: 549300D36J5CQX0I4F44
Tax ID: 38-3305907
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Northern Mortgage Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Northern Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Grand Rapids, Springfield, Holland, Dayton, and Miami among others. We have data for 67 markets. (Some data included below & more in-depth data is available with an active subscription.)Northern Mortgage Services 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. Northern Mortgage Services 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 | 6.92% | 12/3/24 |
| 30 Year Conventional Refi | 6.87% | 12/3/24 |
| 30 Year Cash-out Refi | 6.90% | 12/3/24 |
| 30 Year FHA Purchase | 7.55% | 12/3/24 |
| 30 Year FHA Refi | 7.43% | 12/3/24 |
| 30 Year VA Purchase | 6.59% | 12/3/24 |
| 30 Year VA Refi | 6.30% | 12/3/24 |
| 30 Year USDA Purchase | 7.10% | 12/3/24 |
| 15 Year Conventional Purchase | 6.18% | 12/3/24 |
| 15 Year Conventional Refi | 6.52% | 12/3/24 |
| 15 Year Cash-out Refi | 6.52% | 12/3/24 |
| 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. | ||
Northern Mortgage Services Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Northern Mortgage Services. 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
1,055Origination Dollar Volume (All Markets)
$201,885,000Awards
NORTHERN MORTGAGE SERVICES - 2019
NORTHERN MORTGAGE SERVICES is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
Work for NORTHERN MORTGAGE SERVICES?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 518 | $102,620,000 | $198,108 | $3,334 | 4.30% |
| Outside of Metro Areas | 89 | $13,445,000 | $151,067 | $3,441 | 4.42% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 55 | $11,535,000 | $209,727 | $4,563 | 4.50% |
| Holland, MI (FHA|USDA|VA) | 54 | $10,900,000 | $201,852 | $3,721 | 4.14% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 66 | $8,320,000 | $126,061 | $2,495 | 4.53% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 22 | $5,580,000 | $253,636 | $5,389 | 3.85% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 20 | $5,270,000 | $263,500 | $3,520 | 3.71% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 20 | $4,910,000 | $245,500 | $3,962 | 4.18% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 9 | $3,295,000 | $366,111 | $5,101 | 4.36% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 15 | $3,265,000 | $217,667 | $3,325 | 4.07% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 17 | $3,175,000 | $186,765 | $5,341 | 4.48% |
| MUSKEGON, MI (FHA|USDA|VA) | 16 | $2,910,000 | $181,875 | $2,938 | 4.22% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $2,285,000 | $253,889 | $4,542 | 4.53% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 13 | $1,815,000 | $139,615 | $3,190 | 4.17% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 7 | $1,445,000 | $206,429 | $3,932 | 4.58% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 11 | $1,435,000 | $130,455 | $2,790 | 4.54% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 6 | $1,360,000 | $226,667 | $3,036 | 4.02% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $3,744 | 3.92% |
| Traverse City, MI (FHA|USDA|VA) | 7 | $1,245,000 | $177,857 | $3,585 | 4.45% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $5,598 | 4.19% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 8 | $1,200,000 | $150,000 | $3,245 | 4.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 6 | $1,000,000 | $166,667 | $4,181 | 4.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $2,887 | 4.53% |
| KNOXVILLE, TN (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $1,274 | 3.97% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $3,407 | 4.40% |
| Big Rapids, MI (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,256 | 4.79% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $5,338 | 4.75% |
| NILES, MI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,496 | 4.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $4,887 | 4.42% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,149 | 3.81% |
| Dayton, TN (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,904 | 4.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,397 | 4.69% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $3,848 | 4.13% |
| Greenville, OH (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,697 | 4.06% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,766 | 4.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,789 | 5.00% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,239 | 3.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $2,613 | 4.25% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,991 | 4.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,143 | 4.19% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,829 | 4.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,669 | 5.13% |
| Ludington, MI (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,917 | 4.38% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,312 | 3.63% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,100 | 3.75% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,727 | 4.63% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,151 | 3.99% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,817 | 4.63% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $699 | 4.75% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,425 | 4.50% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,801 | 3.63% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,575 | 4.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,775 | 4.99% |
| Bedford, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,529 | 4.13% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,048 | 4.13% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,380 | 4.00% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,603 | 3.65% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,278 | 4.63% |
| OCALA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,687 | 5.38% |
| Urbana, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,780 | 3.88% |
| FLINT, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,808 | 4.88% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,942 | 3.50% |
| Alpena, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,993 | 3.75% |
| Wapakoneta, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,900 | 4.00% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,770 | 3.88% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,590 | 4.13% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,977 | 3.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against NORTHERN MORTGAGE SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 28
Similarity Rank: 45
Similarity Rank: 96
Similarity Rank: 115
Similarity Rank: 124
Similarity Rank: 126
Similarity Rank: 132
Similarity Rank: 139
Similarity Rank: 152
Similarity Rank: 156
Product Mix
For 2019, Northern Mortgage Services's most frequently originated type of loan was Conventional, with 688 originations. Their 2nd most popular type was FHA, with 288 originations.
Loan Reason
For 2019, Northern Mortgage Services's most frequently cited loan purpose was Home Purchase, with 746 originations. The 2nd most popular reason was Refi, with 308 originations.
Loan Duration/Length
For 2019, Northern Mortgage Services's most frequently cited loan duration was 30 Year, with 921 originations. The 2nd most popular length was 15 Year, with 59 originations.
Origination Fees/Closing Costs
Northern Mortgage Services's average total fees were $3,573, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 443 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 576 | $108,420,000 | $188,229 |
| 3-4% | 378 | $76,560,000 | $202,540 |
| 5-6% | 97 | $15,935,000 | $164,278 |
| 2.5-3% | 2 | $440,000 | $220,000 |
During 2019, Northern Mortgage Services's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 4-5%, with 576 originations.
Loan Sizing
2019 saw Northern Mortgage Services place emphasis on $100k-200k loans with 563 originations, totaling $86,195,000 in origination value.
Applicant Income
Northern Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 339 originations. The second most popular income band? $50k or less, with 267 originations.
Applicant Debt to Income Ratio
Northern Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 224 originations. The next most common DTI ratio? 30-36%, with 188 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.26%
Northern Mortgage Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination77.73%
Northern Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,055 | $201,885,000 | $191,360 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 17 | $1,935,000 | $113,824 |
| Single Family (1-4 Units):Site-Built | 1,038 | $199,950,000 | $192,630 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Northern Trust Company, The | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
| Northern Trust Company, The | Other type of mortgage | Improper use of your report | 1 | 25.0% |
| Northern Trust Company, The | VA mortgage | Struggling to pay mortgage | 1 | 25.0% |