Northern Bank & Trust Company Mortgage Rates, Fees & Info
Woburn, MALEI: 549300EE39SNC5DXTC46
Tax ID: 04-2265819
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Mortgage Data
Review & Overview
Northern Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Northern Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Key West, Worcester, Laconia, and Concord among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Northern Bank & Trust Company 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 Bank & Trust Company 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 | 6.54% | 3/23/23 |
30 Year Conventional Refi | 6.36% | 3/23/23 |
30 Year Cash-out Refi | 6.43% | 3/23/23 |
15 Year Conventional Purchase | 5.70% | 3/23/23 |
15 Year Conventional Refi | 5.46% | 3/23/23 |
15 Year Cash-out Refi | 5.46% | 3/23/23 |
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. |
Originations
213Origination Dollar Volume (All Markets)
$197,495,000Relative Rate
Northern Bank & Trust Company's average 30 year fixed mortgage rate was
4.49%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.27%.
Relative Fees (Closing Costs)
Northern Bank & Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,395.
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 $4,750.
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 |
---|---|---|---|---|---|
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 188 | $184,690,000 | $982,394 | $4,272 | 4.59% |
Outside of Metro Areas | 4 | $3,100,000 | $775,000 | $3,173 | 4.56% |
Key West, FL (FHA|USDA|VA) | 1 | $2,155,000 | $2,155,000 | $7,418 | 5.00% |
WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $1,720,000 | $430,000 | $3,252 | 4.56% |
Laconia, NH (FHA|USDA|VA) | 3 | $1,665,000 | $555,000 | $3,664 | 4.88% |
Concord, NH (FHA|USDA|VA) | 2 | $1,230,000 | $615,000 | $4,329 | 4.63% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $3,091 | 4.97% |
Keene, NH (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $10,241 | 4.00% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,265 | 5.00% |
BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $1,963 | 3.50% |
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,446 | 4.94% |
SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,247 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Northern Bank & Trust Company 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 | 213 | $197,495,000 | $927,207 | $4,209 | 4.61% |
For 2022, Northern Bank & Trust Company's most frequently originated type of loan was Conventional, with 213 originations.
Loan Reason
For 2022, Northern Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Loan Duration/Length
For 2022, Northern Bank & Trust Company's most frequently cited loan duration was 30 Year, with 166 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
Northern Bank & Trust Company's average total fees were $4,395, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 127 originations.
Interest Rates
During 2022, Northern Bank & Trust Company's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 74 originations.
Loan Sizing
2022 saw Northern Bank & Trust Company place emphasis on $200k-400k loans with 60 originations, totaling $17,310,000 in origination value.
Applicant Income
Northern Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 48 originations. The second most popular income band? $250k+, with 40 originations.
Applicant Debt to Income Ratio
Northern Bank & Trust Company lent most frequently to those with DTI ratios of 30-36%, with 43 originations. The next most common DTI ratio? 20-30%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.18%
Northern Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination89.67%
Northern Bank & Trust Company has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 213 | $197,495,000 | $927,207 |