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 Refi and Home Purchase 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, Charlotte, Washington, Holland, and Springfield among others. We have data for 91 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.87% | 4/21/24 |
| 30 Year Cash-out Refi | 6.90% | 4/21/24 |
| 30 Year FHA Purchase | 7.55% | 4/21/24 |
| 30 Year FHA Refi | 7.43% | 4/21/24 |
| 30 Year VA Purchase | 6.59% | 4/21/24 |
| 30 Year VA Refi | 6.30% | 4/21/24 |
| 30 Year USDA Purchase | 7.10% | 4/21/24 |
| 15 Year Conventional Purchase | 6.18% | 4/21/24 |
| 15 Year Conventional Refi | 6.52% | 4/21/24 |
| 15 Year Cash-out Refi | 6.52% | 4/21/24 |
| 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. | ||
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
1,777Origination Dollar Volume (All Markets)
$390,195,000Awards
NORTHERN MORTGAGE SERVICES - 2020
NORTHERN MORTGAGE SERVICES is a 2020 , due to their low .
For 2020, 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) | 857 | $183,165,000 | $213,728 | $3,206 | 3.24% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 79 | $22,945,000 | $290,443 | $3,643 | 3.12% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 52 | $21,450,000 | $412,500 | $3,848 | 2.64% |
| Outside of Metro Areas | 117 | $19,985,000 | $170,812 | $3,078 | 3.26% |
| Holland, MI (FHA|USDA|VA) | 79 | $16,075,000 | $203,481 | $3,330 | 3.27% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 65 | $14,385,000 | $221,308 | $4,565 | 3.30% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 93 | $14,235,000 | $153,065 | $3,474 | 3.22% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 38 | $13,680,000 | $360,000 | $3,242 | 3.10% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 45 | $13,645,000 | $303,222 | $3,700 | 2.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 45 | $10,605,000 | $235,667 | $2,931 | 3.02% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 24 | $4,730,000 | $197,083 | $3,599 | 3.14% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 19 | $4,705,000 | $247,632 | $3,688 | 2.93% |
| MUSKEGON, MI (FHA|USDA|VA) | 25 | $4,605,000 | $184,200 | $3,553 | 3.15% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 19 | $4,155,000 | $218,684 | $3,447 | 3.38% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 21 | $4,075,000 | $194,048 | $5,812 | 3.30% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 16 | $3,810,000 | $238,125 | $6,247 | 3.32% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 19 | $3,445,000 | $181,316 | $3,859 | 3.10% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 21 | $3,265,000 | $155,476 | $3,093 | 3.45% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $1,565,000 | $223,571 | $3,516 | 2.68% |
| Traverse City, MI (FHA|USDA|VA) | 7 | $1,515,000 | $216,429 | $3,074 | 3.12% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 9 | $1,145,000 | $127,222 | $3,142 | 3.08% |
| ANN ARBOR, MI (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $2,678 | 3.09% |
| Big Rapids, MI (FHA|USDA|VA) | 5 | $1,075,000 | $215,000 | $2,772 | 3.42% |
| BANGOR, ME (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $3,129 | 3.18% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $880,000 | $146,667 | $4,526 | 2.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $2,936 | 2.90% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $2,676 | 3.28% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $4,435 | 3.29% |
| Greenville, OH (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $3,410 | 3.44% |
| Cadillac, MI (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $2,841 | 3.37% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $6,245 | 3.31% |
| LAWRENCE, KS (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,277 | 3.63% |
| FLINT, MI (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,613 | 3.25% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,351 | 2.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,780 | 2.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $1,978 | 2.75% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,341 | 3.17% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,221 | 3.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $2,723 | 6.38% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,905 | 3.33% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,288 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,778 | 4.06% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,157 | 2.38% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $485 | 3.50% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,184 | 3.13% |
| Urbana, OH (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,659 | 2.94% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,117 | 2.81% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,818 | 2.75% |
| Sandusky, OH (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,541 | 2.50% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,579 | 2.75% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,692 | 3.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,228 | 3.56% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,092 | 2.75% |
| Ludington, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,396 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,404 | 3.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,241 | 3.63% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,463 | 2.99% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $732 | 2.99% |
| LIMA, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,251 | 3.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,766 | 3.13% |
| Celina, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,802 | 3.50% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,538 | 2.38% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,111 | 2.88% |
| Garden City, KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,337 | 2.75% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,257 | 2.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,094 | 3.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,760 | 3.75% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,845 | 3.37% |
| Macomb, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,980 | 3.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,111 | 3.38% |
| Torrington, CT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,006 | 2.75% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,398 | 3.10% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,531 | 4.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,460 | 4.13% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,824 | 3.38% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,190 | 2.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,937 | 3.88% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,149 | 3.88% |
| Crossville, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,403 | 3.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,158 | 3.00% |
| Sidney, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,865 | 3.25% |
| Ashland, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,451 | 3.50% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,781 | 3.88% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,290 | 3.13% |
| Alma, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,273 | 3.63% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,277 | 3.63% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,121 | 3.13% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,825 | 2.75% |
| Alpena, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,795 | 3.63% |
| Wapakoneta, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,852 | 2.75% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,276 | 3.37% |
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: 42
Similarity Rank: 117
Similarity Rank: 162
Similarity Rank: 174
Similarity Rank: 176
Similarity Rank: 210
Similarity Rank: 222
Similarity Rank: 235
Similarity Rank: 248
Similarity Rank: 258
Product Mix
For 2020, Northern Mortgage Services's most frequently originated type of loan was Conventional, with 1,388 originations. Their 2nd most popular type was FHA, with 251 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 948 | $211,560,000 | $223,165 | $3,339 | 3.13% |
| Home Purchase | 829 | $178,635,000 | $215,483 | $3,512 | 3.27% |
For 2020, Northern Mortgage Services's most frequently cited loan purpose was Refi, with 948 originations. The 2nd most popular reason was Home Purchase, with 829 originations.
Loan Duration/Length
For 2020, Northern Mortgage Services's most frequently cited loan duration was 30 Year, with 1,423 originations. The 2nd most popular length was 15 Year, with 188 originations.
Origination Fees/Closing Costs
Northern Mortgage Services's average total fees were $3,549, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,083 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 837 | $169,945,000 | $203,041 |
| 2.5-3% | 713 | $168,005,000 | $235,631 |
| <2.5% | 134 | $35,150,000 | $262,313 |
| 4-5% | 92 | $16,910,000 | $183,804 |
| Over 8% | 1 | $185,000 | $185,000 |
During 2020, Northern Mortgage Services's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 837 originations.
Loan Sizing
2020 saw Northern Mortgage Services place emphasis on $100k-200k loans with 786 originations, totaling $120,720,000 in origination value.
Applicant Income
Northern Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 496 originations. The second most popular income band? $50k or less, with 383 originations.
Applicant Debt to Income Ratio
Northern Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 455 originations. The next most common DTI ratio? 30-36%, with 372 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.83%
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 origination76.36%
Northern Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,777 | $390,195,000 | $219,581 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 13 | $1,765,000 | $135,769 |
| Single Family (1-4 Units):Site-Built | 1,764 | $388,430,000 | $220,198 |