North Country Mortgage Rates, Fees & Info

South Burlington, VT

LEI: 549300T2FOBK6WY4B349

Tax ID: 03-0184742

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

North Country is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. North Country has a high proportion of conventional loans. Their top markets include Burlington, Barre, Lebanon, Charlotte, and Washington among others. North Country has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. North Country is typically a low fee lendor.


Originations

595

Origination Dollar Volume (All Markets)

$123,455,000

Awards

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

Relative Rate

North Country's average 30 year fixed rate mortgage of loans were 3.35%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.2%.

Relative Fees

North Country's average total fees for a 30 year fixed rate mortgage are $3,180.

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
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 206 $53,270,000 $258,592 $2,674 3.32%
Outside of Metro Areas 241 $39,845,000 $165,332 $2,975 3.38%
Barre, VT (FHA|USDA|VA) 100 $20,070,000 $200,700 $2,934 3.18%
Lebanon, NH-VT (FHA|USDA|VA) 30 $5,740,000 $191,333 $3,369 3.31%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $945,000 $945,000 $3,428 2.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $685,000 $685,000 $4,304 2.38%
Rutland, VT (FHA|USDA|VA) 4 $630,000 $157,500 $2,069 4.06%
COLUMBIA, SC (FHA|USDA|VA) 2 $330,000 $165,000 $3,077 2.94%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $325,000 $325,000 $2,335 2.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $6,320 3.50%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,250 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $235,000 $235,000 $2,023 2.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $225,000 $225,000 $3,295 3.13%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $175,000 $175,000 $3,110 3.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $145,000 $145,000 $2,878 3.25%
OCALA, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,686 2.50%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $85,000 $85,000 $2,473 2.50%
Palatka, FL (FHA|USDA|VA) 1 $45,000 $45,000 $2,497 2.50%

North Country's top markets include Burlington, Barre, Lebanon, Charlotte, and Washington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 595 $123,455,000 $207,487 $2,891 3.32%

For the 2021 period, North Country's most frequently originated loan type of loans were Conventional, with 595 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 250 $56,770,000 $227,080 $2,763 3.18%
Home Purchase 177 $36,655,000 $207,090 $3,535 3.66%
Refi 163 $29,765,000 $182,607 $2,401 3.01%
Home Improvement 3 $165,000 $55,000 $0 6.59%
Other 2 $100,000 $50,000 $0 10.24%

For the 2021, North Country's most frequently cited loan purpose of loans were Cash Out Refi, with 250 originations. The 2nd most popular reason of loans were Home Purchase, with 177 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 318 $70,200,000 $220,755 $3,180 3.35%
15 Year 173 $28,665,000 $165,694 $2,512 3.21%
20 Year 67 $13,075,000 $195,149 $2,537 3.02%
10 Year 21 $7,995,000 $380,714 $1,167 4.37%
Other 11 $2,445,000 $222,273 $1,947 3.39%
5 Year 5 $1,075,000 $215,000 $403 4.08%

For the 2021, North Country's most frequently cited loan length of loans were 30 Year, with 318 originations. The 2nd most popular length of loans were 15 Year, with 173 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 412 $84,250,000 $204,490
$1k-2k 68 $10,110,000 $148,676
$2k-3k 30 $7,070,000 $235,667
$3k-4k 23 $6,195,000 $269,348
$5k+ 2 $1,280,000 $640,000

$3,180 of loans were North Country's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 412 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 212 $50,950,000 $240,330
2.5-3% 210 $45,040,000 $214,476
<2.5% 100 $17,400,000 $174,000
4-5% 52 $8,930,000 $171,731
Over 8% 10 $370,000 $37,000
6-7% 5 $455,000 $91,000
7-8% 3 $135,000 $45,000
5-6% 3 $175,000 $58,333

During 2021, North Country's average interest rate of loans were 3.35%, while their most frequently originated rate bucket of loans were 3-4%, with 212 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 249 $36,755,000 $147,610 $2,771 3.16%
$200k-400k 208 $56,640,000 $272,308 $3,126 3.12%
$100,000 or less 100 $6,680,000 $66,800 $2,331 4.16%
$400k-600k 23 $10,855,000 $471,957 $3,873 3.12%
$600k-1MM 13 $9,565,000 $735,769 $3,762 3.33%
$1MM+ 2 $2,960,000 $1,480,000 $0 3.63%

2021 saw North Country place emphasis on $100k-200k loans with 249 originations, totaling $36,755,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 132 $29,460,000 $223,182 $2,988 3.05%
$50k-75k 123 $19,135,000 $155,569 $2,898 3.57%
$75k-100k 100 $19,290,000 $192,900 $2,800 3.06%
$50k or less 99 $11,075,000 $111,869 $2,869 3.81%
$150k-250k 70 $19,610,000 $280,143 $3,207 3.15%
$250k+ 18 $10,000,000 $555,556 $3,566 2.79%

North Country lent most frequently to those with incomes in the $100k-150k range, with 132 originations. The second most popular income band? $50k-75k, with 123 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 132 $26,930,000 $204,015 $2,741 3.01%
30-36% 102 $21,400,000 $209,804 $2,841 3.23%
<20% 54 $12,010,000 $222,407 $2,487 3.00%
50-60% 28 $5,420,000 $193,571 $3,378 3.78%
41% 27 $5,235,000 $193,889 $3,227 3.57%
36% 24 $4,790,000 $199,583 $3,131 3.43%
37% 23 $4,905,000 $213,261 $2,766 3.24%
43% 23 $4,205,000 $182,826 $2,939 3.63%
42% 18 $2,810,000 $156,111 $2,718 3.99%
40% 17 $3,015,000 $177,353 $2,770 3.01%
44% 16 $2,060,000 $128,750 $2,900 3.90%
>60% 16 $3,240,000 $202,500 $3,413 3.35%
47% 15 $2,625,000 $175,000 $2,853 3.98%
38% 14 $2,810,000 $200,714 $3,037 3.55%
48% 13 $2,655,000 $204,231 $2,848 3.10%
46% 13 $3,375,000 $259,615 $3,608 3.12%
45% 12 $2,270,000 $189,167 $2,955 3.74%
49% 10 $2,970,000 $297,000 $3,226 3.31%
39% 8 $1,450,000 $181,250 $2,623 2.94%

North Country lent most frequently to those with DTI ratios of 20-30%, with 132 originations. The next most common DTI ratio? 30-36%, with 102 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 472 $94,900,000 $201,059 $2,894 3.27%
Not provided 81 $17,305,000 $213,642 $2,897 3.34%
Not applicable 28 $8,940,000 $319,286 $0 3.61%
Black 6 $1,140,000 $190,000 $2,969 3.21%
Asian 5 $975,000 $195,000 $2,473 5.11%
American Indian 3 $195,000 $65,000 $2,794 3.50%

Approval Rates

Total approvals of all applications
77.34%

North Country has a below average approval rate.

Pick Rate

Approvals leading to origination
29.06%

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 595 $123,455,000 $207,487

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
595 $123,455,000 $207,487

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 50 $5,850,000 $117,000 $2,208 3.04%
40-60% 125 $22,795,000 $182,360 $2,678 3.04%
60-80% 282 $64,610,000 $229,113 $2,967 3.34%
80-100% 125 $29,685,000 $237,480 $3,402 3.33%
Over 100% 1 $125,000 $125,000 $2,313 5.00%
Under 20% 12 $390,000 $32,500 $742 6.30%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
NORTHSTAR FUNDING INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%