Northfield Savings Bank Mortgage Rates, Fees & Info

Northfield, VT

LEI: 549300D7AV8NGI6N3S98

Tax ID: 03-0145560

5 stars - Updated: 12/30/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 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. Their top markets by origination volume include: Burlington, Barre, Lebanon, and Rutland 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 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 relatively high 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 6.27% 12/30/24
    30 Year Conventional Refi 5.79% 12/30/24
    30 Year Cash-out Refi 6.32% 12/30/24
    30 Year VA Purchase 6.14% 12/30/24
    30 Year USDA Purchase 6.27% 12/30/24
    15 Year Conventional Purchase 5.84% 12/30/24
    15 Year Conventional Refi 5.85% 12/30/24
    15 Year Cash-out Refi 5.85% 12/30/24
    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.

    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

    227

    Origination Dollar Volume (All Markets)

    $58,685,000
    Show all (5) awards

    Relative Rate

    Northfield Savings Bank's average 30 year fixed mortgage rate was 6.25%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.23%.

    Relative Fees (Closing Costs)

    Northfield Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,906.

    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 $9,089.

    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
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 67 $24,595,000 $367,090 $3,173 6.33%
    Barre, VT (FHA|USDA|VA) 106 $23,760,000 $224,151 $3,029 6.58%
    Lebanon, NH-VT (FHA|USDA|VA) 36 $4,930,000 $136,944 $1,516 6.56%
    Outside of Metro Areas 15 $4,575,000 $305,000 $3,622 6.54%
    Rutland, VT (FHA|USDA|VA) 3 $825,000 $275,000 $2,459 6.07%
    Northfield Savings Bank's top markets include Burlington, Barre, Lebanon, and Rutland 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.

    Northfield Savings Bank
    Similarity Rank: 45
    Vermont Federal Credit Union
    Similarity Rank: 102
    Northway Bank
    Similarity Rank: 126
    Bar Harbor Bank & Trust
    Similarity Rank: 247
    NORTHEAST CREDIT UNION
    Similarity Rank: 276
    Meredith Village Savings Bank
    Similarity Rank: 310
    Bank of New Hampshire
    Similarity Rank: 348
    NORTH COUNTRY
    Similarity Rank: 561
    Community Bank
    Similarity Rank: 570
    Mascoma Bank
    Similarity Rank: 608

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 227 $58,685,000 $258,524 $2,843 6.50%

    For 2023, Northfield Savings Bank's most frequently originated type of loan was Conventional, with 227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 135 $46,355,000 $343,370 $4,159 6.38%
    Home Improvement 38 $2,820,000 $74,211 $0 6.80%
    Cash Out Refi 22 $5,270,000 $239,545 $2,549 6.51%
    Other 17 $1,405,000 $82,647 $302 6.56%
    Refi 15 $2,835,000 $189,000 $1,541 6.66%

    For 2023, Northfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Home Improvement, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 113 $38,395,000 $339,779 $3,906 6.25%
    20 Year 40 $7,730,000 $193,250 $652 7.13%
    10 Year 24 $1,560,000 $65,000 $0 6.57%
    15 Year 18 $2,230,000 $123,889 $1,319 6.77%
    30+ year 15 $6,665,000 $444,333 $6,287 6.59%
    Other 15 $1,545,000 $103,000 $958 6.14%
    5 Year 2 $560,000 $280,000 $0 6.14%

    For 2023, Northfield Savings Bank's most frequently cited loan duration was 30 Year, with 113 originations. The 2nd most popular length was 20 Year, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $32,915,000 $223,912
    $2k-3k 21 $9,455,000 $450,238
    $1k-2k 20 $5,650,000 $282,500
    $5k+ 3 $1,655,000 $551,667
    $3k-4k 2 $580,000 $290,000
    $4k-5k 1 $335,000 $335,000

    Northfield Savings Bank's average total fees were $3,906, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 125 $33,285,000 $266,280
    7-8% 52 $7,660,000 $147,308
    5-6% 36 $12,300,000 $341,667
    4-5% 14 $5,440,000 $388,571

    During 2023, Northfield Savings Bank's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 83 $23,955,000 $288,614 $3,913 6.39%
    $100,000 or less 56 $2,770,000 $49,464 $354 6.73%
    $100k-200k 47 $6,775,000 $144,149 $1,842 6.75%
    $400k-600k 27 $12,945,000 $479,444 $4,519 6.14%
    $600k-1MM 12 $9,170,000 $764,167 $6,301 5.92%
    $1MM+ 2 $3,070,000 $1,535,000 $9,730 6.50%

    2023 saw Northfield Savings Bank place emphasis on $200k-400k loans with 83 originations, totaling $23,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $13,400,000 $231,034 $2,505 6.54%
    $150k-250k 47 $13,355,000 $284,149 $3,152 6.46%
    $50k-75k 35 $4,605,000 $131,571 $2,302 6.42%
    $250k+ 31 $16,455,000 $530,806 $5,118 6.37%
    $75k-100k 29 $4,475,000 $154,310 $1,693 6.45%
    $50k or less 7 $685,000 $97,857 $2,151 7.11%

    Northfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 49 $10,185,000 $207,857 $2,533 6.61%
    20-30% 47 $13,535,000 $287,979 $2,807 6.36%
    <20% 18 $4,220,000 $234,444 $2,559 6.51%
    44% 13 $3,565,000 $274,231 $3,433 6.26%
    38% 11 $2,295,000 $208,636 $2,565 6.55%
    43% 10 $3,560,000 $356,000 $3,510 6.05%
    39% 10 $2,260,000 $226,000 $2,282 6.78%
    36% 9 $2,025,000 $225,000 $3,011 6.46%
    40% 8 $1,970,000 $246,250 $2,855 6.57%
    42% 8 $3,070,000 $383,750 $4,201 6.33%
    41% 7 $2,195,000 $313,571 $3,701 6.36%
    37% 7 $1,655,000 $236,429 $1,660 6.49%
    45% 2 $720,000 $360,000 $4,380 6.44%
    50-60% 1 $325,000 $325,000 $5,881 6.75%
    >60% 1 $265,000 $265,000 $2,355 5.50%

    Northfield Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 49 originations. The next most common DTI ratio? 20-30%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 187 $48,475,000 $259,225 $2,892 6.46%
    Not applicable 17 $4,825,000 $283,824 $0 6.73%
    Not provided 19 $4,255,000 $223,947 $2,440 6.65%
    Asian 2 $640,000 $320,000 $3,068 5.83%
    Black 2 $490,000 $245,000 $2,303 6.75%

    Approval Rates

    Total approvals of all applications
    83.04%

    Northfield Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.08%

    Northfield Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 227 $58,685,000 $258,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    227 $58,685,000 $258,524

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $3,915,000 $118,636 $1,198 6.76%
    40-60% 36 $10,000,000 $277,778 $3,437 6.51%
    60-80% 66 $24,350,000 $368,939 $3,861 6.41%
    80-100% 52 $18,680,000 $359,231 $4,636 6.30%
    Under 20% 40 $1,740,000 $43,500 $131 6.66%