Northpoint Mortgage Rates, Fees & Info

STURBRIDGE, MA

LEI: 549300JI0UWY4QIWDV89

Tax ID: 20-3492069

5 stars - out of 5 stars, based on 52 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

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


Originations

2,740

Origination Dollar Volume (All Markets)

$815,020,000
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Relative Rate

Northpoint Mortgage '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

Northpoint Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,797.

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 463 $168,285,000 $363,467 $4,162 2.91%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 414 $122,050,000 $294,807 $4,444 2.96%
WORCESTER, MA-CT (FHA|USDA|VA) 363 $107,895,000 $297,231 $4,003 2.87%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 285 $97,595,000 $342,439 $5,174 3.02%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 245 $58,655,000 $239,408 $4,477 2.85%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 171 $48,025,000 $280,848 $4,006 2.89%
SPRINGFIELD, MA (FHA|USDA|VA) 205 $47,985,000 $234,073 $4,891 2.90%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 164 $47,290,000 $288,354 $4,321 2.89%
Outside of Metro Areas 79 $20,945,000 $265,127 $4,410 3.01%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 44 $15,480,000 $351,818 $4,256 2.86%
Concord, NH (FHA|USDA|VA) 41 $11,135,000 $271,585 $3,534 2.84%
Augusta-Waterville, ME (FHA|USDA|VA) 41 $9,005,000 $219,634 $5,318 3.02%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 31 $7,415,000 $239,194 $4,202 2.90%
Laconia, NH (FHA|USDA|VA) 23 $6,405,000 $278,478 $4,048 2.83%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 29 $6,345,000 $218,793 $5,388 2.95%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 9 $4,245,000 $471,667 $6,823 3.04%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 12 $3,660,000 $305,000 $4,602 2.86%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $3,485,000 $268,077 $5,774 3.02%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 13 $3,255,000 $250,385 $4,137 2.96%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $3,205,000 $291,364 $4,289 2.90%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 10 $2,740,000 $274,000 $4,677 3.14%
Lebanon, NH-VT (FHA|USDA|VA) 9 $2,235,000 $248,333 $3,467 2.97%
Keene, NH (FHA|USDA|VA) 8 $2,130,000 $266,250 $3,686 3.09%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,875,000 $375,000 $7,288 2.70%
BANGOR, ME (FHA|USDA|VA) 7 $1,655,000 $236,429 $4,697 2.93%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 5 $1,455,000 $291,000 $5,304 3.03%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $1,345,000 $269,000 $4,812 3.05%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,310,000 $218,333 $5,061 3.29%
PITTSFIELD, MA (FHA|USDA|VA) 5 $1,125,000 $225,000 $4,579 2.80%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $995,000 $331,667 $4,089 2.79%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $990,000 $165,000 $4,274 2.85%
Vineyard Haven, MA (FHA|USDA|VA) 1 $985,000 $985,000 $3,923 3.50%
THE VILLAGES, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,136 2.88%
OCALA, FL (FHA|USDA|VA) 3 $535,000 $178,333 $3,444 3.21%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $525,000 $525,000 $5,574 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $420,000 $210,000 $4,766 2.81%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,383 2.88%
Palatka, FL (FHA|USDA|VA) 1 $385,000 $385,000 $3,754 2.38%
Lake City, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,570 2.50%
Berlin, NH (FHA|USDA|VA) 2 $280,000 $140,000 $3,684 3.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,153 2.88%
GAINESVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,749 2.88%

Northpoint Mortgage 's top markets include Boston, Portland, Worcester, Orlando, and Hartford among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,413 $718,145,000 $297,615 $3,913 2.92%
FHA 206 $58,350,000 $283,252 $9,252 2.98%
VA 85 $29,805,000 $350,647 $6,537 2.74%
USDA 36 $8,720,000 $242,222 $6,462 2.91%

For the 2021 period, Northpoint Mortgage 's most frequently originated loan type of loans were Conventional, with 2,413 originations. Their 2nd most popular type is FHA, with 206 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,292 $415,330,000 $321,463 $5,485 3.02%
Refi 1,022 $281,610,000 $275,548 $3,248 2.75%
Cash Out Refi 340 $95,380,000 $280,529 $4,004 3.04%
Home Improvement 86 $22,700,000 $263,953 $4,298 3.00%

For the 2021, Northpoint Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,292 originations. The 2nd most popular reason of loans were Refi, with 1,022 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,118 $661,140,000 $312,153 $4,797 3.02%
15 Year 314 $75,920,000 $241,783 $3,280 2.42%
20 Year 177 $46,345,000 $261,836 $3,081 2.78%
Other 92 $25,190,000 $273,804 $3,093 2.87%
10 Year 39 $6,425,000 $164,744 $3,022 2.36%

For the 2021, Northpoint Mortgage 's most frequently cited loan length of loans were 30 Year, with 2,118 originations. The 2nd most popular length of loans were 15 Year, with 314 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,217 $649,195,000 $292,826
$2k-3k 244 $72,270,000 $296,189
$3k-4k 152 $45,070,000 $296,513
$5k+ 86 $35,990,000 $418,488
$<1k 41 $12,495,000 $304,756

$4,797 of loans were Northpoint Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,217 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,355 $407,655,000 $300,852
3-4% 875 $268,165,000 $306,474
<2.5% 489 $132,715,000 $271,401
4-5% 20 $6,140,000 $307,000
7-8% 1 $345,000 $345,000

During 2021, Northpoint Mortgage 's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,355 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,587 $452,565,000 $285,170 $4,429 2.94%
$100k-200k 586 $93,780,000 $160,034 $3,532 2.87%
$400k-600k 458 $217,340,000 $474,541 $5,384 2.92%
$600k-1MM 59 $42,025,000 $712,288 $6,709 3.10%
$100,000 or less 46 $3,780,000 $82,174 $3,122 2.80%
$1MM+ 4 $5,530,000 $1,382,500 $8,224 3.09%

2021 saw Northpoint Mortgage place emphasis on $200k-400k loans with 1,587 originations, totaling $452,565,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 660 $208,620,000 $316,091 $4,291 2.94%
$75k-100k 604 $168,490,000 $278,957 $4,512 2.94%
$50k-75k 577 $137,025,000 $237,478 $4,632 2.95%
$150k-250k 474 $173,660,000 $366,371 $4,221 2.87%
$50k or less 254 $50,230,000 $197,756 $4,399 2.90%
$250k+ 170 $76,680,000 $451,059 $4,592 2.85%

Northpoint Mortgage lent most frequently to those with incomes in the $100k-150k range, with 660 originations. The second most popular income band? $75k-100k, with 604 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 593 $174,355,000 $294,022 $3,763 2.84%
30-36% 509 $153,085,000 $300,756 $4,208 2.92%
<20% 227 $62,385,000 $274,824 $3,708 2.79%
42% 118 $34,730,000 $294,322 $4,575 3.03%
41% 117 $36,155,000 $309,017 $4,587 3.01%
36% 114 $35,480,000 $311,228 $4,270 2.91%
38% 107 $29,625,000 $276,869 $4,411 2.89%
43% 104 $30,430,000 $292,596 $4,645 3.05%
44% 101 $29,665,000 $293,713 $4,411 2.99%
37% 99 $30,615,000 $309,242 $4,346 2.94%
40% 97 $29,885,000 $308,093 $4,460 2.96%
50-60% 96 $30,380,000 $316,458 $9,085 2.96%
39% 94 $29,920,000 $318,298 $4,805 3.08%
45% 94 $26,890,000 $286,064 $4,680 3.03%
47% 71 $21,685,000 $305,423 $4,964 2.95%
48% 59 $16,725,000 $283,475 $4,753 3.03%
49% 58 $17,850,000 $307,759 $5,853 3.00%
46% 55 $15,585,000 $283,364 $4,501 3.03%
>60% 1 $525,000 $525,000 $2,907 2.75%

Northpoint Mortgage lent most frequently to those with DTI ratios of 20-30%, with 593 originations. The next most common DTI ratio? 30-36%, with 509 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,361 $695,465,000 $294,564 $4,346 2.92%
Not provided 171 $52,485,000 $306,930 $4,453 2.95%
Asian 102 $34,700,000 $340,196 $4,420 2.85%
Black 96 $29,000,000 $302,083 $6,163 2.92%
American Indian 5 $1,455,000 $291,000 $6,400 3.10%
Native Hawaiian 3 $1,055,000 $351,667 $7,297 3.08%
Other Pacific Islander 1 $565,000 $565,000 $14,672 2.75%
Filipino 1 $295,000 $295,000 $4,035 3.25%

Approval Rates

Total approvals of all applications
94.48%

Northpoint Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
82.58%

Northpoint Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,740 $815,020,000 $297,453

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,740 $815,020,000 $297,453

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 143 $27,545,000 $192,622 $3,143 2.65%
40-60% 469 $121,015,000 $258,028 $3,260 2.75%
60-80% 1,095 $336,605,000 $307,402 $3,856 2.97%
80-100% 1,009 $324,285,000 $321,392 $5,699 2.99%
Over 100% 10 $3,710,000 $371,000 $13,220 2.94%
Under 20% 14 $1,860,000 $132,857 $3,840 2.66%