Northpoint Mortgage Rates, Fees & Info

STURBRIDGE, MA

LEI: 549300JI0UWY4QIWDV89

Tax ID: 20-3492069

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Boston, Portland, Worcester, Orlando, and Hartford among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northpoint Mortgage 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. Northpoint Mortgage 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.

    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 6.84% 11/26/22
    30 Year Conventional Refi 6.70% 11/26/22
    30 Year Cash-out Refi 6.92% 11/26/22
    30 Year FHA Purchase 7.70% 11/26/22
    30 Year FHA Refi 7.35% 11/26/22
    30 Year VA Purchase 6.61% 11/26/22
    30 Year VA Refi 6.43% 11/26/22
    30 Year USDA Purchase 7.14% 11/26/22
    30 Year USDA Refi 6.89% 11/26/22
    15 Year Conventional Purchase 6.10% 11/26/22
    15 Year Conventional Refi 6.07% 11/26/22
    15 Year Cash-out Refi 6.07% 11/26/22
    15 Year VA Refi 6.14% 11/26/22
    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

    2,740

    Origination Dollar Volume (All Markets)

    $815,020,000
    Show all (7) awards

    Relative Rate

    Northpoint Mortgage's average 30 year fixed mortgage rate was 3.02%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.13%.

    Relative Fees (Closing Costs)

    Northpoint Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $4,797.

    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) 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.

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

    We use machine learning to identify the top lenders compared against NORTHPOINT MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MAINE FAMILY
    Similarity Rank: 12
    SOMERSET
    Similarity Rank: 87
    INFINITY Federal Credit Union
    Similarity Rank: 136
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    CASCO
    Similarity Rank: 226
    Freedom Credit Union
    Similarity Rank: 266
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 336
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 380
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Northpoint Mortgage's most frequently originated type of loan was Conventional, with 2,413 originations. Their 2nd most popular type was FHA, with 206 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Northpoint Mortgage's most frequently cited loan purpose was Home Purchase, with 1,292 originations. The 2nd most popular reason was 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 2021, Northpoint Mortgage's most frequently cited loan duration was 30 Year, with 2,118 originations. The 2nd most popular length was 15 Year, with 314 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,217 $649,195,000 $292,826
    $2k-3k 244 $72,270,000 $296,189
    $3k-4k 108 $29,800,000 $275,926
    $5k+ 86 $35,990,000 $418,488
    $4k-5k 44 $15,270,000 $347,045
    $<1k 41 $12,495,000 $304,756

    Northpoint Mortgage's average total fees were $4,797, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    96.00%

    Northpoint Mortgage 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
    85.44%

    Northpoint Mortgage has an 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%