North Country Mortgage Rates, Fees & Info

South Burlington, VT

LEI: 549300T2FOBK6WY4B349

Tax ID: 03-0184742

5 stars - Updated: 7/11/24 - out of 5 stars, based on 24 reviews

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

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Mortgage Data

Review & Overview

North Country is a smaller mortgage company specializing in Home Improvement, Refi, and Home Purchase loans. North Country has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Barre, Lebanon, Grand Junction, and Myrtle Beach among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

North Country has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. North Country 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 relatively high 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
Home Equity Line of Credit (HELOC) 5.12% 7/11/24
30 Year Conventional Purchase 6.97% 7/11/24
30 Year Conventional Refi 7.08% 7/11/24
30 Year Cash-out Refi 7.30% 7/11/24
30 Year FHA Purchase 6.27% 7/11/24
15 Year Conventional Purchase 8.50% 7/11/24
15 Year Conventional Refi 6.22% 7/11/24
15 Year Cash-out Refi 6.22% 7/11/24
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.

North Country Mortgage Calculator






Your Estimates

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

This is not an official calculator from North Country. 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

583

Origination Dollar Volume (All Markets)

$61,455,000

Awards

NORTH COUNTRY 30 Year Conventional Loans gold NORTH COUNTRY 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

North Country's average 30 year fixed mortgage rate was 7.27%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.79%.

Relative Fees (Closing Costs)

North Country's average total fees/closing costs for a 30 year fixed rate mortgage were $3,796.

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 $9,089.

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
Outside of Metro Areas 257 $21,995,000 $85,584 $3,035 7.44%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 166 $21,950,000 $132,229 $3,750 7.40%
Barre, VT (FHA|USDA|VA) 111 $11,385,000 $102,568 $3,128 7.48%
Lebanon, NH-VT (FHA|USDA|VA) 31 $3,605,000 $116,290 $4,212 6.85%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $555,000 $555,000 $2,605 6.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $360,000 $180,000 $2,002 8.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $320,000 $160,000 $2,846 7.88%
Berlin, NH (FHA|USDA|VA) 3 $245,000 $81,667 $5,278 7.39%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.99%
Rutland, VT (FHA|USDA|VA) 2 $230,000 $115,000 $0 7.07%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $185,000 $185,000 $1,780 6.75%
RICHMOND, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.00%
ALBANY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.75%
Bennington, VT (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.09%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.74%
Crossville, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.49%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.79%
North Country's top markets include Burlington, Barre, Lebanon, Grand Junction, and Myrtle Beach among others.

Their top states include:
  • Vermont (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    Northfield Savings Bank
    Similarity Rank: 45
    Vermont Federal Credit Union
    Similarity Rank: 102
    Northway Bank
    Similarity Rank: 126
    Bar Harbor Bank & Trust
    Similarity Rank: 247
    NORTHEAST CREDIT UNION
    Similarity Rank: 276
    Meredith Village Savings Bank
    Similarity Rank: 310
    Bank of New Hampshire
    Similarity Rank: 348
    NORTH COUNTRY
    Similarity Rank: 561
    Community Bank
    Similarity Rank: 570
    Mascoma Bank
    Similarity Rank: 608

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 464 $37,400,000 $80,603 n/a 7.40%
    Conventional 119 $24,055,000 $202,143 $3,282 7.40%

    For 2023, North Country's most frequently originated type of loan was HELOC, with 464 originations. Their 2nd most popular type was Conventional, with 119 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 202 $12,540,000 $62,079 $1,804 7.42%
    Refi 141 $15,275,000 $108,333 $1,458 7.42%
    Other 110 $7,680,000 $69,818 $2,829 7.46%
    Home Purchase 106 $21,570,000 $203,491 $3,649 7.21%
    Cash Out Refi 24 $4,390,000 $182,917 $3,043 7.72%

    For 2023, North Country's most frequently cited loan purpose was Home Improvement, with 202 originations. The 2nd most popular reason was Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 467 $38,735,000 $82,944 $0 7.38%
    30 Year 66 $15,960,000 $241,818 $3,796 7.27%
    15 Year 31 $3,185,000 $102,742 $1,625 8.15%
    5 Year 10 $2,530,000 $253,000 $0 6.63%
    10 Year 7 $795,000 $113,571 $1,747 7.62%
    20 Year 2 $250,000 $125,000 $2,247 7.38%

    For 2023, North Country's most frequently cited loan duration was Other, with 467 originations. The 2nd most popular length was 30 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 64 $13,080,000 $204,375
    $1k-2k 12 $2,220,000 $185,000
    $2k-3k 7 $1,545,000 $220,714
    $3k-4k 2 $410,000 $205,000
    $4k-5k 2 $680,000 $340,000

    North Country's average total fees were $3,796, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 211 $24,195,000 $114,668
    6-7% 179 $21,795,000 $121,760
    Over 8% 128 $9,680,000 $75,625
    5-6% 60 $5,060,000 $84,333
    4-5% 4 $610,000 $152,500
    <2.5% 1 $115,000 $115,000

    During 2023, North Country's average interest rate for loans was 7.27%, while their most frequently originated rate bucket for loans was 7-8%, with 211 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 371 $18,465,000 $49,771 $1,695 7.53%
    $100k-200k 139 $19,135,000 $137,662 $3,592 7.21%
    $200k-400k 61 $16,905,000 $277,131 $3,770 7.13%
    $400k-600k 8 $3,890,000 $486,250 $4,457 7.28%
    $600k-1MM 3 $2,005,000 $668,333 $4,631 6.73%
    $1MM+ 1 $1,055,000 $1,055,000 $0 6.15%

    2023 saw North Country place emphasis on $100,000 or less loans with 371 originations, totaling $18,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 138 $14,920,000 $108,116 $2,865 7.46%
    $50k-75k 121 $10,045,000 $83,017 $3,245 7.57%
    $75k-100k 107 $10,855,000 $101,449 $3,902 7.26%
    $50k or less 93 $5,185,000 $55,753 $2,585 7.58%
    $150k-250k 70 $11,580,000 $165,429 $4,167 7.13%
    $250k+ 21 $3,285,000 $156,429 $3,586 7.11%

    North Country lent most frequently to those with incomes in the $100k-150k range, with 138 originations. The second most popular income band? $50k-75k, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 90 $8,820,000 $98,000 $3,519 7.18%
    30-36% 83 $8,415,000 $101,386 $3,173 7.58%
    50-60% 48 $5,890,000 $122,708 $4,219 7.59%
    <20% 48 $4,170,000 $86,875 $3,490 7.09%
    >60% 35 $5,775,000 $165,000 $4,016 7.38%
    49% 28 $2,060,000 $73,571 $1,885 7.79%
    45% 21 $1,785,000 $85,000 $2,972 7.32%
    37% 21 $2,035,000 $96,905 $3,067 7.45%
    46% 20 $2,020,000 $101,000 $2,788 7.49%
    48% 20 $1,580,000 $79,000 $4,677 7.41%
    43% 19 $2,235,000 $117,632 $5,246 7.38%
    41% 19 $2,025,000 $106,579 $2,696 7.34%
    42% 18 $2,380,000 $132,222 $3,523 7.22%
    36% 16 $1,310,000 $81,875 $2,054 7.37%
    39% 16 $1,400,000 $87,500 $4,015 7.39%
    44% 16 $1,260,000 $78,750 $2,468 7.96%
    40% 15 $1,285,000 $85,667 $3,896 7.78%
    47% 14 $1,300,000 $92,857 $3,377 7.52%
    38% 14 $1,210,000 $86,429 $2,560 6.99%

    North Country lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 485 $49,205,000 $101,454 $3,298 7.40%
    Not provided 67 $6,425,000 $95,896 $3,000 7.50%
    Not applicable 22 $4,500,000 $204,545 $0 7.15%
    Asian 2 $660,000 $330,000 $5,952 7.75%
    American Indian 4 $390,000 $97,500 $2,525 7.51%
    Native Hawaiian or Islander 1 $175,000 $175,000 $0 7.00%
    Black 2 $100,000 $50,000 $0 7.15%

    Approval Rates

    Total approvals of all applications
    82.25%

    North Country has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    51.97%

    North Country has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 583 $61,455,000 $105,412

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    583 $61,455,000 $105,412

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 158 $14,640,000 $92,658 $1,969 7.47%
    40-60% 70 $8,300,000 $118,571 $2,847 7.40%
    60-80% 110 $20,360,000 $185,091 $3,847 7.19%
    80-100% 50 $9,590,000 $191,800 $3,450 7.38%
    Under 20% 195 $8,565,000 $43,923 $1,145 7.47%