Northern Bank & Trust Company Mortgage Rates, Fees & Info

Woburn, MA

LEI: 549300EE39SNC5DXTC46

Tax ID: 04-2265819

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.54% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    30 Year Cash-out Refi 6.43% 12/16/24
    15 Year Conventional Purchase 5.70% 12/16/24
    15 Year Conventional Refi 5.46% 12/16/24
    15 Year Cash-out Refi 5.46% 12/16/24
    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.

    Northern Bank & Trust Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Northern Bank & Trust Company. 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

    213

    Origination Dollar Volume (All Markets)

    $197,495,000

    Awards

    Northern Bank & Trust Company 30 Year Conventional Loans bronze
    Show all (1) awards

    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%
    Northern Bank & Trust Company's top markets include Boston, Key West, Worcester, Laconia, and Concord among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 8
    Rhode Island Credit Union
    Similarity Rank: 15
    SOMERSET
    Similarity Rank: 21
    Triangle Credit Union
    Similarity Rank: 30
    Charter Oak Federal Credit Union
    Similarity Rank: 42
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Direct Federal Credit Union
    Similarity Rank: 115
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 129
    IC Federal Credit Union
    Similarity Rank: 144

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 117 $120,485,000 $1,029,786 $5,102 4.82%
    Cash Out Refi 44 $24,390,000 $554,318 $3,250 4.04%
    Refi 41 $46,995,000 $1,146,220 $2,822 4.35%
    Home Improvement 7 $3,695,000 $527,857 $2,383 5.68%
    Other 4 $1,930,000 $482,500 $3,021 5.25%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 166 $98,310,000 $592,229 $4,395 4.49%
    15 Year 15 $6,165,000 $411,000 $2,902 3.67%
    1 Year 11 $22,045,000 $2,004,091 $0 6.50%
    Other 9 $24,585,000 $2,731,667 $0 6.42%
    20 Year 5 $2,405,000 $481,000 $2,518 3.05%
    5 Year 3 $13,205,000 $4,401,667 $0 5.58%
    10 Year 3 $3,695,000 $1,231,667 $2,832 4.21%
    3 Year 1 $27,085,000 $27,085,000 $0 6.78%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 127 $63,395,000 $499,173
    $5k+ 9 $9,485,000 $1,053,889
    $1k-2k 8 $2,530,000 $316,250
    $3k-4k 4 $1,270,000 $317,500
    $4k-5k 4 $1,960,000 $490,000
    $2k-3k 3 $1,235,000 $411,667

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 74 $50,380,000 $680,811
    5-6% 51 $54,665,000 $1,071,863
    3-4% 47 $28,265,000 $601,383
    2.5-3% 21 $9,135,000 $435,000
    6-7% 10 $34,870,000 $3,487,000
    7-8% 5 $18,355,000 $3,671,000
    <2.5% 3 $805,000 $268,333
    Over 8% 2 $1,020,000 $510,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 60 $17,310,000 $288,500 $3,173 4.40%
    $400k-600k 53 $25,265,000 $476,698 $3,503 4.38%
    $1MM+ 41 $122,305,000 $2,983,049 $10,588 5.22%
    $600k-1MM 41 $29,885,000 $728,902 $5,135 4.59%
    $100k-200k 18 $2,730,000 $151,667 $2,518 4.61%

    2022 saw Northern Bank & Trust Company place emphasis on $200k-400k loans with 60 originations, totaling $17,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 48 $24,240,000 $505,000 $4,178 4.25%
    $250k+ 40 $39,060,000 $976,500 $6,951 4.41%
    $100k-150k 37 $14,515,000 $392,297 $3,338 4.41%
    $50k-75k 22 $6,300,000 $286,364 $3,582 4.40%
    $75k-100k 17 $5,365,000 $315,588 $3,062 4.44%
    $50k or less 5 $1,165,000 $233,000 $2,803 4.23%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 43 $26,375,000 $613,372 $3,751 4.74%
    20-30% 31 $14,405,000 $464,677 $3,897 4.27%
    44% 22 $12,420,000 $564,545 $3,735 4.39%
    43% 16 $10,890,000 $680,625 $4,718 4.50%
    <20% 14 $8,600,000 $614,286 $4,655 3.49%
    42% 9 $4,905,000 $545,000 $5,127 4.69%
    40% 9 $4,195,000 $466,111 $3,871 4.65%
    41% 9 $5,325,000 $591,667 $4,735 4.38%
    39% 6 $5,410,000 $901,667 $3,284 4.38%
    36% 6 $2,090,000 $348,333 $2,813 4.25%
    >60% 5 $3,925,000 $785,000 $10,397 4.20%
    38% 4 $3,010,000 $752,500 $2,450 4.09%
    37% 4 $2,000,000 $500,000 $3,199 4.09%
    45% 3 $1,425,000 $475,000 $4,610 3.96%
    48% 2 $870,000 $435,000 $3,861 3.56%
    50-60% 1 $405,000 $405,000 $3,312 4.75%
    46% 1 $305,000 $305,000 $2,534 5.13%
    47% 1 $335,000 $335,000 $2,615 5.63%
    49% 1 $245,000 $245,000 $2,575 2.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $96,660,000 $589,390 $4,136 4.43%
    Not applicable 23 $87,675,000 $3,811,957 $0 6.19%
    Asian 15 $7,495,000 $499,667 $5,163 4.53%
    Not provided 9 $4,485,000 $498,333 $3,960 3.96%
    Asian Indian 1 $695,000 $695,000 $4,218 4.63%
    Black 1 $485,000 $485,000 $3,576 4.88%

    Approval Rates

    Total approvals of all applications
    94.18%

    Northern Bank & Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.67%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    213 $197,495,000 $927,207

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $19,120,000 $796,667 $3,264 4.21%
    40-60% 42 $23,890,000 $568,810 $3,847 4.31%
    60-80% 92 $61,620,000 $669,783 $4,449 4.49%
    80-100% 36 $48,120,000 $1,336,667 $4,402 4.75%
    Over 100% 16 $44,250,000 $2,765,625 $15,376 6.23%
    Under 20% 3 $495,000 $165,000 $2,572 4.92%