Northeast Home Loan Mortgage Rates, Fees & Info
ST JOHNSBURY, VTLEI: 549300DQMFK1KT7KEB48
Tax ID: 03-0365685
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Mortgage Data
Review & Overview
Northeast Home Loan is a smaller mortgage company specializing in Refi and Home Purchase loans. Northeast Home Loan has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Burlington, Boston, Portland, Barre, and Lebanon among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Northeast Home Loan has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Northeast Home Loan is typically an average 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 | 6.67% | 4/18/24 |
| 30 Year Conventional Refi | 6.57% | 4/18/24 |
| 30 Year Cash-out Refi | 6.60% | 4/18/24 |
| 30 Year VA Purchase | 6.66% | 4/18/24 |
| 30 Year USDA Purchase | 5.98% | 4/18/24 |
| 15 Year Conventional Purchase | 6.30% | 4/18/24 |
| 15 Year Conventional Refi | 5.96% | 4/18/24 |
| 15 Year Cash-out Refi | 5.96% | 4/18/24 |
| 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. | ||
Northeast Home Loan Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,118Origination Dollar Volume (All Markets)
$624,820,000Awards
NORTHEAST HOME LOAN - 2020
NORTHEAST HOME LOAN is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 868 | $258,050,000 | $297,293 | $4,564 | 3.05% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 356 | $157,560,000 | $442,584 | $6,407 | 3.29% |
| Outside of Metro Areas | 358 | $73,850,000 | $206,285 | $3,582 | 3.06% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 203 | $54,395,000 | $267,956 | $5,462 | 3.13% |
| Barre, VT (FHA|USDA|VA) | 61 | $17,225,000 | $282,377 | $4,569 | 3.09% |
| Lebanon, NH-VT (FHA|USDA|VA) | 78 | $15,590,000 | $199,872 | $3,755 | 3.20% |
| Rutland, VT (FHA|USDA|VA) | 51 | $10,025,000 | $196,569 | $3,599 | 3.19% |
| Bennington, VT (FHA|USDA|VA) | 29 | $7,835,000 | $270,172 | $4,776 | 3.17% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 15 | $5,145,000 | $343,000 | $4,593 | 3.21% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 10 | $3,900,000 | $390,000 | $6,302 | 3.48% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 12 | $3,850,000 | $320,833 | $5,473 | 3.23% |
| Berlin, NH (FHA|USDA|VA) | 26 | $3,690,000 | $141,923 | $2,675 | 2.88% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 9 | $2,375,000 | $263,889 | $3,701 | 3.29% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $2,010,000 | $335,000 | $4,759 | 3.02% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $2,779 | 3.15% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $2,826 | 3.28% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $2,476 | 3.44% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $4,908 | 3.17% |
| BANGOR, ME (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $2,670 | 3.41% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $3,948 | 2.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $2,999 | 3.04% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $5,320 | 2.96% |
| Laconia, NH (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,968 | 2.94% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,651 | 2.94% |
| Concord, NH (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,391 | 3.75% |
| Keene, NH (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,950 | 3.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,405 | 2.38% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,139 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against NORTHEAST HOME LOAN 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,091 | $617,735,000 | $295,426 | $4,663 | 3.12% |
| VA | 16 | $4,870,000 | $304,375 | $6,009 | 3.11% |
| USDA | 11 | $2,215,000 | $201,364 | $7,045 | 3.27% |
For 2020, Northeast Home Loan's most frequently originated type of loan was Conventional, with 2,091 originations. Their 2nd most popular type was VA, with 16 originations.
Loan Reason
For 2020, Northeast Home Loan's most frequently cited loan purpose was Refi, with 945 originations. The 2nd most popular reason was Home Purchase, with 784 originations.
Loan Duration/Length
For 2020, Northeast Home Loan's most frequently cited loan duration was 30 Year, with 1,588 originations. The 2nd most popular length was 15 Year, with 316 originations.
Origination Fees/Closing Costs
Northeast Home Loan's average total fees were $4,880, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 943 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 992 | $288,100,000 | $290,423 |
| 3-4% | 951 | $294,365,000 | $309,532 |
| <2.5% | 142 | $30,280,000 | $213,239 |
| 4-5% | 26 | $9,100,000 | $350,000 |
| 5-6% | 7 | $2,975,000 | $425,000 |
During 2020, Northeast Home Loan's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 2.5-3%, with 992 originations.
Loan Sizing
2020 saw Northeast Home Loan place emphasis on $200k-400k loans with 1,127 originations, totaling $325,865,000 in origination value.
Applicant Income
Northeast Home Loan lent most frequently to those with incomes in the $100k-150k range, with 556 originations. The second most popular income band? $150k-250k, with 478 originations.
Applicant Debt to Income Ratio
Northeast Home Loan lent most frequently to those with DTI ratios of 20-30%, with 510 originations. The next most common DTI ratio? 30-36%, with 437 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.75%
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 origination92.97%
Northeast Home Loan has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,118 | $624,820,000 | $295,005 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 7 | $775,000 | $110,714 |
| Single Family (1-4 Units):Site-Built | 2,111 | $624,045,000 | $295,616 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |