Northfield Savings Bank Mortgage Rates, Fees & Info

Northfield, VT

LEI: 549300D7AV8NGI6N3S98

Tax ID: 03-0145560

5 stars - Updated: 4/5/25 - out of 5 stars, based on 16 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Northfield Savings Bank is a smaller bank specializing in Home Purchase loans. Northfield Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rutland, Burlington, Barre, and Lebanon among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northfield Savings 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. Northfield Savings 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 6.62% 4/5/25
    30 Year Conventional Refi 6.58% 4/5/25
    30 Year Cash-out Refi 6.44% 4/5/25
    30 Year VA Purchase 6.72% 4/5/25
    30 Year USDA Purchase 6.84% 4/5/25
    15 Year Conventional Purchase 6.14% 4/5/25
    15 Year Conventional Refi 7.17% 4/5/25
    15 Year Cash-out Refi 7.17% 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.

    Northfield Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Northfield Savings 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

    257

    Origination Dollar Volume (All Markets)

    $206,395,000
    Show all (6) awards

    Relative Rate

    Northfield Savings Bank's average 30 year fixed mortgage rate was 6.42%.

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

    This yields a difference of -0.13%.

    Relative Fees (Closing Costs)

    Northfield Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,103.

    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
    Rutland, VT (FHA|USDA|VA) 8 $120,620,000 $15,077,500 $1,540 6.86%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 63 $35,185,000 $558,492 $3,658 6.58%
    Barre, VT (FHA|USDA|VA) 126 $34,640,000 $274,921 $3,299 6.67%
    Lebanon, NH-VT (FHA|USDA|VA) 38 $8,600,000 $226,316 $3,524 6.69%
    Outside of Metro Areas 22 $7,350,000 $334,091 $3,521 6.52%
    Northfield Savings Bank's top markets include Rutland, Burlington, Barre, and Lebanon among others.

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

    • Similar Lenders

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

    Vermont Federal Credit Union
    Similarity Rank: 54
    Northfield Savings Bank
    Similarity Rank: 105
    Meredith Village Savings Bank
    Similarity Rank: 279
    NORTHEAST CREDIT UNION
    Similarity Rank: 299
    MSA MORTGAGE, LLC
    Similarity Rank: 322
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 391
    Bar Harbor Bank & Trust
    Similarity Rank: 408
    Service Federal Credit Union
    Similarity Rank: 417
    NORTH COUNTRY
    Similarity Rank: 612
    Community Bank
    Similarity Rank: 689

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 254 $205,830,000 $810,354 $3,408 6.65%
    USDA 2 $440,000 $220,000 $3,966 6.56%
    VA 1 $125,000 $125,000 $3,060 6.25%

    For 2024, Northfield Savings Bank's most frequently originated type of loan was Conventional, with 254 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 168 $177,180,000 $1,054,643 $4,370 6.49%
    Home Improvement 37 $5,555,000 $150,135 $460 7.40%
    Refi 19 $17,855,000 $939,737 $2,259 6.59%
    Cash Out Refi 19 $4,225,000 $222,368 $2,869 6.33%
    Other 14 $1,580,000 $112,857 $1,048 6.99%

    For 2024, Northfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 168 originations. The 2nd most popular reason was Home Improvement, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 150 $49,530,000 $330,200 $4,103 6.42%
    20 Year 32 $17,960,000 $561,250 $1,856 7.17%
    10 Year 30 $124,090,000 $4,136,333 $144 6.97%
    Other 17 $6,095,000 $358,529 $120 6.55%
    15 Year 15 $3,265,000 $217,667 $1,824 7.13%
    30+ year 13 $5,455,000 $419,615 $6,028 6.74%

    For 2024, Northfield Savings Bank's most frequently cited loan duration was 30 Year, with 150 originations. The 2nd most popular length was 20 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $36,510,000 $240,197
    $1k-2k 28 $9,730,000 $347,500
    $2k-3k 24 $10,390,000 $432,917
    $4k-5k 5 $1,825,000 $365,000
    $3k-4k 4 $2,150,000 $537,500
    $5k+ 3 $1,405,000 $468,333

    Northfield Savings Bank's average total fees were $4,103, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 167 $186,485,000 $1,116,677
    7-8% 40 $5,390,000 $134,750
    5-6% 31 $11,855,000 $382,419
    Over 8% 15 $1,895,000 $126,333
    4-5% 4 $770,000 $192,500

    During 2024, Northfield Savings Bank's average interest rate for loans was 6.42%, while their most frequently originated rate bucket for loans was 6-7%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 108 $31,330,000 $290,093 $3,797 6.53%
    $100,000 or less 48 $2,640,000 $55,000 $744 7.13%
    $400k-600k 40 $19,540,000 $488,500 $5,120 6.45%
    $100k-200k 39 $6,205,000 $159,103 $3,001 6.66%
    $600k-1MM 16 $11,910,000 $744,375 $6,002 6.41%
    $1MM+ 6 $134,770,000 $22,461,667 $8,696 6.57%

    2024 saw Northfield Savings Bank place emphasis on $200k-400k loans with 108 originations, totaling $31,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $15,415,000 $223,406 $2,882 6.69%
    $150k-250k 53 $18,435,000 $347,830 $3,959 6.64%
    $250k+ 41 $20,505,000 $500,122 $4,664 6.55%
    $75k-100k 37 $5,805,000 $156,892 $2,577 6.76%
    $50k-75k 20 $2,800,000 $140,000 $2,887 6.53%
    $50k or less 4 $460,000 $115,000 $2,787 6.13%

    Northfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $150k-250k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 66 $19,380,000 $293,636 $3,337 6.63%
    30-36% 55 $15,935,000 $289,727 $3,368 6.67%
    44% 16 $5,670,000 $354,375 $4,093 6.53%
    <20% 15 $2,925,000 $195,000 $3,100 6.57%
    40% 9 $2,105,000 $233,889 $3,337 6.84%
    37% 9 $1,705,000 $189,444 $2,923 6.25%
    38% 9 $2,985,000 $331,667 $3,434 6.95%
    42% 9 $1,885,000 $209,444 $3,138 7.16%
    39% 8 $3,120,000 $390,000 $4,127 6.45%
    43% 7 $1,835,000 $262,143 $3,069 6.62%
    45% 6 $2,780,000 $463,333 $4,137 6.56%
    36% 5 $815,000 $163,000 $2,899 6.05%
    41% 5 $1,085,000 $217,000 $2,782 6.61%
    46% 1 $405,000 $405,000 $8,039 6.38%
    47% 1 $385,000 $385,000 $5,177 6.25%

    Northfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 30-36%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 31 $141,665,000 $4,569,839 $0 6.69%
    White 187 $51,635,000 $276,123 $3,340 6.65%
    Not provided 28 $8,140,000 $290,714 $3,401 6.65%
    Asian 6 $2,110,000 $351,667 $5,068 6.34%
    Asian Indian 2 $1,980,000 $990,000 $6,276 6.38%
    Black 1 $405,000 $405,000 $3,499 6.00%
    Filipino 1 $295,000 $295,000 $3,273 6.38%
    Chinese 1 $165,000 $165,000 $2,520 7.00%

    Approval Rates

    Total approvals of all applications
    90.80%

    Northfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.26%

    Northfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 257 $206,395,000 $803,093

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    257 $206,395,000 $803,093

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $6,075,000 $164,189 $1,825 6.88%
    40-60% 42 $10,620,000 $252,857 $3,092 6.55%
    60-80% 82 $40,980,000 $499,756 $4,802 6.51%
    80-100% 61 $24,455,000 $400,902 $4,353 6.50%
    Over 100% 5 $122,535,000 $24,507,000 $0 6.60%
    Under 20% 30 $1,730,000 $57,667 $312 7.16%