Northern Mortgage Services Rates, Fees & Info
GRAND RAPIDS, MILEI: 549300D36J5CQX0I4F44
Tax ID: 38-3305907
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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, Washington, Cleveland, Springfield, and Holland 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,829Origination Dollar Volume (All Markets)
$410,415,000Awards
NORTHERN MORTGAGE SERVICES - 2021
NORTHERN MORTGAGE SERVICES is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 762 | $170,670,000 | $223,976 | $3,387 | 3.09% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 66 | $30,860,000 | $467,576 | $6,006 | 2.79% |
| Outside of Metro Areas | 138 | $25,300,000 | $183,333 | $3,687 | 3.11% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 142 | $21,430,000 | $150,915 | $4,201 | 3.08% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 83 | $19,025,000 | $229,217 | $4,339 | 3.27% |
| Holland, MI (FHA|USDA|VA) | 89 | $18,635,000 | $209,382 | $3,410 | 3.03% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 106 | $17,520,000 | $165,283 | $3,561 | 3.08% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 58 | $17,090,000 | $294,655 | $3,552 | 2.95% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 32 | $11,360,000 | $355,000 | $3,862 | 2.94% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 29 | $8,385,000 | $289,138 | $5,438 | 3.09% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 25 | $7,205,000 | $288,200 | $4,045 | 3.01% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 27 | $6,085,000 | $225,370 | $3,564 | 3.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 21 | $4,115,000 | $195,952 | $3,907 | 3.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 20 | $3,960,000 | $198,000 | $4,788 | 3.30% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 12 | $3,670,000 | $305,833 | $6,565 | 3.49% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 13 | $2,795,000 | $215,000 | $5,655 | 3.23% |
| BANGOR, ME (FHA|USDA|VA) | 12 | $2,660,000 | $221,667 | $3,297 | 2.96% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 8 | $2,650,000 | $331,250 | $4,497 | 2.91% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 11 | $2,305,000 | $209,545 | $3,303 | 2.87% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $4,509 | 3.14% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 13 | $2,015,000 | $155,000 | $3,488 | 3.06% |
| Traverse City, MI (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $4,315 | 3.11% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 9 | $1,605,000 | $178,333 | $3,658 | 2.97% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 9 | $1,565,000 | $173,889 | $3,493 | 2.94% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $5,946 | 2.83% |
| AKRON, OH (FHA|USDA|VA) | 7 | $1,245,000 | $177,857 | $5,275 | 3.36% |
| BAY CITY, MI (FHA|USDA|VA) | 11 | $1,205,000 | $109,545 | $3,205 | 3.26% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 7 | $1,145,000 | $163,571 | $3,335 | 3.09% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $5,860 | 3.29% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $4,588 | 3.41% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $3,322 | 2.29% |
| Big Rapids, MI (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $3,231 | 3.50% |
| Cadillac, MI (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,542 | 3.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $3,689 | 3.03% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $4,014 | 2.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,720 | 3.25% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,029 | 2.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $9,763 | 3.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $5,604 | 2.81% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $2,788 | 3.13% |
| Greenville, OH (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $2,848 | 2.99% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $6,478 | 3.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,888 | 2.87% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,483 | 3.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $3,985 | 2.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,340 | 3.13% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $17,182 | 2.50% |
| Sandusky, OH (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,926 | 2.87% |
| FLINT, MI (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $2,784 | 2.75% |
| NILES, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,191 | 3.63% |
| Jasper, IN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,602 | 3.38% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,276 | 3.13% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,569 | 3.13% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 2.75% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,477 | 3.56% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,713 | 3.75% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,974 | 2.63% |
| Fremont, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,391 | 2.88% |
| MONROE, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,713 | 3.38% |
| Lake City, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,553 | 2.75% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,656 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,869 | 3.00% |
| Wapakoneta, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,968 | 3.25% |
| Wilmington, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,927 | 3.06% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,019 | 2.63% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,767 | 2.75% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,425 | 3.88% |
| Farmington, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,769 | 2.88% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,561 | 3.25% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,438 | 3.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,611 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,351 | 3.63% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,152 | 3.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,642 | 3.25% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,960 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,131 | 3.13% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,446 | 2.88% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,401 | 2.50% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,079 | 3.00% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,856 | 3.63% |
| Wooster, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,428 | 3.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,268 | 3.50% |
| Sidney, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,795 | 3.50% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,064 | 3.63% |
| Dodge City, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,075 | 2.88% |
| MANSFIELD, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $750 | 3.25% |
| Alma, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,964 | 2.88% |
| Alpena, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,771 | 2.75% |
| Norwalk, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,364 | 2.50% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,397 | 3.00% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,287 | 3.38% |
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.
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Product Mix
For 2021, Northern Mortgage Services's most frequently originated type of loan was Conventional, with 1,452 originations. Their 2nd most popular type was FHA, with 253 originations.
Loan Reason
For 2021, Northern Mortgage Services's most frequently cited loan purpose was Home Purchase, with 932 originations. The 2nd most popular reason was Refi, with 896 originations.
Loan Duration/Length
For 2021, Northern Mortgage Services's most frequently cited loan duration was 30 Year, with 1,494 originations. The 2nd most popular length was 15 Year, with 167 originations.
Origination Fees/Closing Costs
Northern Mortgage Services's average total fees were $3,991, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,109 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 915 | $204,765,000 | $223,787 |
| 2.5-3% | 747 | $166,425,000 | $222,791 |
| <2.5% | 149 | $36,145,000 | $242,584 |
| 4-5% | 18 | $3,080,000 | $171,111 |
During 2021, Northern Mortgage Services's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 915 originations.
Loan Sizing
2021 saw Northern Mortgage Services place emphasis on $100k-200k loans with 791 originations, totaling $120,085,000 in origination value.
Applicant Income
Northern Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 503 originations. The second most popular income band? $50k or less, with 454 originations.
Applicant Debt to Income Ratio
Northern Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 441 originations. The next most common DTI ratio? 30-36%, with 357 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.16%
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 origination81.14%
Northern Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,829 | $410,415,000 | $224,393 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Northern Trust Company, The | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |