Northeast Home Loan Mortgage Rates, Fees & Info

ST JOHNSBURY, VT

LEI: 549300DQMFK1KT7KEB48

Tax ID: 03-0365685

4.8 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Northeast Home Loan is a smaller mortgage company specializing in Home Purchase and Refi loans. Northeast Home Loan has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Burlington, Boston, Portland, Barre, and Rutland among others. Northeast Home Loan has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Northeast Home Loan is typically an average fee lendor.


Originations

1,382

Origination Dollar Volume (All Markets)

$455,140,000

Awards

NORTHEAST HOME LOAN  30 Year Conventional Loans silver NORTHEAST HOME LOAN  30 Year Conventional Loans bronze NORTHEAST HOME LOAN  30 Year Conventional Loans bronze NORTHEAST HOME LOAN  30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Northeast Home Loan 's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Northeast Home Loan 's average total fees for a 30 year fixed rate mortgage are $5,322.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 504 $169,370,000 $336,052 $5,059 2.89%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 253 $124,605,000 $492,510 $7,347 3.06%
Outside of Metro Areas 253 $60,895,000 $240,692 $4,010 2.91%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 69 $22,595,000 $327,464 $6,455 3.00%
Barre, VT (FHA|USDA|VA) 70 $21,730,000 $310,429 $4,676 2.90%
Rutland, VT (FHA|USDA|VA) 67 $14,505,000 $216,493 $3,567 2.91%
Lebanon, NH-VT (FHA|USDA|VA) 56 $13,390,000 $239,107 $4,127 2.94%
Bennington, VT (FHA|USDA|VA) 28 $9,450,000 $337,500 $5,317 3.06%
Berlin, NH (FHA|USDA|VA) 27 $3,495,000 $129,444 $2,677 2.88%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 7 $3,345,000 $477,857 $6,424 2.84%
WORCESTER, MA-CT (FHA|USDA|VA) 8 $2,510,000 $313,750 $6,855 3.03%
BANGOR, ME (FHA|USDA|VA) 12 $1,930,000 $160,833 $3,775 3.27%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,010,000 $252,500 $5,729 2.59%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $910,000 $455,000 $4,036 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $820,000 $410,000 $4,594 2.75%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $750,000 $187,500 $2,409 2.69%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $730,000 $365,000 $7,024 2.81%
Concord, NH (FHA|USDA|VA) 2 $710,000 $355,000 $3,408 3.69%
Keene, NH (FHA|USDA|VA) 3 $475,000 $158,333 $2,789 3.08%
Vineyard Haven, MA (FHA|USDA|VA) 1 $465,000 $465,000 $3,138 2.75%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 3 $415,000 $138,333 $3,183 2.92%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $255,000 $255,000 $3,551 3.38%
Laconia, NH (FHA|USDA|VA) 1 $195,000 $195,000 $5,546 4.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,465 2.75%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $195,000 $195,000 $2,032 2.75%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $195,000 $195,000 $6,626 3.25%

Northeast Home Loan 's top markets include Burlington, Boston, Portland, Barre, and Rutland among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,370 $451,300,000 $329,416 $5,071 2.95%
VA 8 $3,010,000 $376,250 $12,193 2.44%
USDA 4 $830,000 $207,500 $5,495 2.81%

For the 2021 period, Northeast Home Loan 's most frequently originated loan type of loans were Conventional, with 1,370 originations. Their 2nd most popular type is VA, with 8 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 767 $263,235,000 $343,201 $5,332 2.98%
Refi 371 $119,375,000 $321,765 $4,894 2.83%
Cash Out Refi 231 $68,865,000 $298,117 $4,756 3.01%
Other 11 $2,825,000 $256,818 $4,269 2.97%
Home Improvement 2 $840,000 $420,000 $7,047 3.19%

For the 2021, Northeast Home Loan 's most frequently cited loan purpose of loans were Home Purchase, with 767 originations. The 2nd most popular reason of loans were Refi, with 371 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,155 $402,925,000 $348,853 $5,322 3.02%
15 Year 151 $32,775,000 $217,053 $3,966 2.44%
20 Year 47 $11,025,000 $234,574 $4,177 2.80%
Other 23 $7,315,000 $318,043 $5,330 2.91%
10 Year 6 $1,100,000 $183,333 $2,741 2.31%

For the 2021, Northeast Home Loan 's most frequently cited loan length of loans were 30 Year, with 1,155 originations. The 2nd most popular length of loans were 15 Year, with 151 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 681 $193,305,000 $283,855
$5k+ 230 $122,860,000 $534,174
$3k-4k 203 $62,395,000 $307,365
$1k-2k 106 $25,400,000 $239,623
$2k-3k 90 $22,680,000 $252,000

$5,322 of loans were Northeast Home Loan 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 681 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 831 $269,915,000 $324,807
3-4% 395 $149,415,000 $378,266
<2.5% 150 $34,660,000 $231,067
4-5% 4 $780,000 $195,000
5-6% 1 $315,000 $315,000
6-7% 1 $55,000 $55,000

During 2021, Northeast Home Loan 's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 831 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 636 $182,660,000 $287,201 $4,574 2.93%
$400k-600k 302 $145,930,000 $483,212 $6,445 2.93%
$100k-200k 295 $45,735,000 $155,034 $3,332 2.89%
$600k-1MM 91 $66,675,000 $732,692 $10,885 3.16%
$100,000 or less 49 $3,725,000 $76,020 $2,754 3.03%
$1MM+ 9 $10,415,000 $1,157,222 $23,225 3.50%

2021 saw Northeast Home Loan place emphasis on $200k-400k loans with 636 originations, totaling $182,660,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 348 $116,430,000 $334,569 $4,966 2.93%
$150k-250k 326 $133,320,000 $408,957 $6,333 2.96%
$50k-75k 231 $49,925,000 $216,126 $3,901 2.90%
$75k-100k 230 $65,740,000 $285,826 $4,652 2.92%
$250k+ 146 $74,020,000 $506,986 $7,058 3.04%
$50k or less 101 $15,705,000 $155,495 $3,190 2.95%

Northeast Home Loan lent most frequently to those with incomes in the $100k-150k range, with 348 originations. The second most popular income band? $150k-250k, with 326 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 339 $112,065,000 $330,575 $5,184 2.89%
30-36% 231 $72,185,000 $312,489 $4,926 2.93%
<20% 127 $39,435,000 $310,512 $4,391 2.84%
40% 60 $22,400,000 $373,333 $5,577 3.04%
37% 60 $19,380,000 $323,000 $5,111 2.90%
41% 56 $20,620,000 $368,214 $5,570 3.09%
43% 54 $18,380,000 $340,370 $5,271 3.02%
39% 53 $17,345,000 $327,264 $4,582 2.93%
42% 52 $17,800,000 $342,308 $5,089 2.98%
45% 52 $16,650,000 $320,192 $6,126 2.93%
36% 49 $19,155,000 $390,918 $5,756 2.94%
44% 49 $13,625,000 $278,061 $4,361 2.96%
38% 49 $14,645,000 $298,878 $4,442 2.94%
49% 34 $11,200,000 $329,412 $5,442 3.17%
48% 31 $11,585,000 $373,710 $6,325 3.07%
46% 30 $8,910,000 $297,000 $5,569 3.00%
47% 27 $11,085,000 $410,556 $6,574 2.95%
50-60% 23 $7,765,000 $337,609 $4,964 2.98%
>60% 6 $910,000 $151,667 $2,654 2.96%

Northeast Home Loan lent most frequently to those with DTI ratios of 20-30%, with 339 originations. The next most common DTI ratio? 30-36%, with 231 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 860 $278,250,000 $323,547 $5,118 2.95%
Not provided 489 $164,225,000 $335,838 $5,074 2.91%
Asian 24 $8,860,000 $369,167 $6,269 3.06%
Black 5 $1,965,000 $393,000 $4,936 3.10%
American Indian 4 $1,840,000 $460,000 $3,748 3.31%

Approval Rates

Total approvals of all applications
95.86%

Northeast Home Loan has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
92.65%

Northeast Home Loan has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,382 $455,140,000 $329,334

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,382 $455,140,000 $329,334

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 83 $21,945,000 $264,398 $4,422 2.72%
40-60% 264 $73,170,000 $277,159 $4,298 2.82%
60-80% 571 $201,065,000 $352,128 $5,389 3.01%
80-100% 458 $157,160,000 $343,144 $5,290 2.98%
Over 100% 3 $1,355,000 $451,667 $17,975 2.42%
Under 20% 3 $445,000 $148,333 $2,622 2.75%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%