North Country Mortgage Rates, Fees & Info

South Burlington, VT

LEI: 549300T2FOBK6WY4B349

Tax ID: 03-0184742

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

Jump to:

Mortgage Data

Review & Overview

North Country is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. North Country has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Barre, Lebanon, Cape Coral, and Charlotte among others. We have data for 8 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% 3/24/24
30 Year Conventional Purchase 6.97% 3/24/24
30 Year Conventional Refi 7.08% 3/24/24
30 Year Cash-out Refi 7.30% 3/24/24
30 Year FHA Purchase 6.27% 3/24/24
15 Year Conventional Purchase 8.50% 3/24/24
15 Year Conventional Refi 6.22% 3/24/24
15 Year Cash-out Refi 6.22% 3/24/24
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

608

Origination Dollar Volume (All Markets)

$58,620,000

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
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 175 $23,585,000 $134,771 $1,404 4.98%
Outside of Metro Areas 303 $20,925,000 $69,059 $947 5.03%
Barre, VT (FHA|USDA|VA) 99 $10,705,000 $108,131 $1,341 5.25%
Lebanon, NH-VT (FHA|USDA|VA) 26 $2,450,000 $94,231 $1,048 5.21%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $520,000 $260,000 $4,260 4.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $285,000 $285,000 $3,004 4.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $95,000 $95,000 $667 5.24%
Rutland, VT (FHA|USDA|VA) 1 $55,000 $55,000 $1,612 4.94%
North Country's top markets include Burlington, Barre, Lebanon, Cape Coral, and Charlotte among others.

Their top states include:
  • Vermont (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • New Hampshire (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.

    Bar Harbor Bank & Trust
    Similarity Rank: 80
    Northway Bank
    Similarity Rank: 99
    Vermont Federal Credit Union
    Similarity Rank: 120
    NORTHEAST CREDIT UNION
    Similarity Rank: 135
    MSA MORTGAGE, LLC
    Similarity Rank: 150
    Meredith Village Savings Bank
    Similarity Rank: 162
    Northfield Savings Bank
    Similarity Rank: 165
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 169
    VERMONT STATE EMPLOYEES
    Similarity Rank: 279
    Bank of New Hampshire
    Similarity Rank: 308

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 608 $58,620,000 $96,414 $1,155 5.06%

    For 2018, North Country's most frequently originated type of loan was Conventional, with 608 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 216 $15,140,000 $70,093 $545 5.02%
    Home Purchase 128 $19,970,000 $156,016 $2,857 5.18%
    Other 97 $3,145,000 $32,423 $300 5.05%
    Home Improvement 94 $4,380,000 $46,596 $344 4.88%
    Cash Out Refi 73 $15,985,000 $218,973 $3,133 5.19%

    For 2018, North Country's most frequently cited loan purpose was Refi, with 216 originations. The 2nd most popular reason was Home Purchase, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 250 $18,930,000 $75,720 $612 5.52%
    30 Year 126 $24,540,000 $194,762 $3,480 5.18%
    10 Year 124 $4,680,000 $37,742 $323 4.96%
    5 Year 72 $2,930,000 $40,694 $268 3.45%
    Other 22 $5,530,000 $251,364 $729 5.12%
    20 Year 13 $1,995,000 $153,462 $3,008 4.83%
    3 Year 1 $15,000 $15,000 $212 3.00%

    For 2018, North Country's most frequently cited loan duration was 15 Year, with 250 originations. The 2nd most popular length was 30 Year, with 126 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 497 $36,145,000 $72,726
    $1k-2k 34 $5,700,000 $167,647
    $2k-3k 22 $4,250,000 $193,182
    $3k-4k 4 $850,000 $212,500
    $4k-5k 3 $785,000 $261,667
    $5k+ 1 $325,000 $325,000

    North Country's average total fees were $3,480, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 497 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 302 $38,360,000 $127,020
    5-6% 124 $9,710,000 $78,306
    3-4% 55 $2,915,000 $53,000
    6-7% 49 $3,955,000 $80,714
    2.5-3% 32 $1,500,000 $46,875
    7-8% 29 $1,645,000 $56,724
    Over 8% 17 $535,000 $31,471

    During 2018, North Country's average interest rate for loans was 5.18%, while their most frequently originated rate bucket for loans was 4-5%, with 302 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 416 $18,270,000 $43,918 $518 5.11%
    $100k-200k 120 $16,630,000 $138,583 $2,369 5.04%
    $200k-400k 60 $16,410,000 $273,500 $3,507 4.81%
    $400k-600k 8 $3,950,000 $493,750 $3,925 4.64%
    $600k-1MM 3 $2,205,000 $735,000 $2,983 4.92%
    $1MM+ 1 $1,155,000 $1,155,000 $0 4.88%

    2018 saw North Country place emphasis on $100,000 or less loans with 416 originations, totaling $18,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 170 $10,570,000 $62,176 $1,201 5.30%
    $50k-75k 146 $12,560,000 $86,027 $1,063 5.12%
    $75k-100k 107 $9,955,000 $93,037 $1,139 4.87%
    $100k-150k 105 $10,225,000 $97,381 $1,101 5.01%
    $150k-250k 41 $6,265,000 $152,805 $1,524 4.74%
    $250k+ 9 $1,215,000 $135,000 $1,057 4.60%

    North Country lent most frequently to those with incomes in the $50k or less range, with 170 originations. The second most popular income band? $50k-75k, with 146 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 111 $8,015,000 $72,207 $1,009 4.87%
    30-36% 109 $8,425,000 $77,294 $1,029 5.20%
    <20% 59 $4,685,000 $79,407 $549 4.64%
    39% 30 $2,140,000 $71,333 $1,000 5.55%
    38% 27 $1,755,000 $65,000 $845 5.13%
    50-60% 26 $4,030,000 $155,000 $2,336 5.14%
    42% 23 $2,565,000 $111,522 $1,135 4.85%
    40% 23 $2,055,000 $89,348 $1,251 4.98%
    41% 22 $2,170,000 $98,636 $1,230 4.98%
    45% 21 $2,995,000 $142,619 $1,543 5.76%
    36% 20 $1,350,000 $67,500 $1,371 5.35%
    43% 20 $1,520,000 $76,000 $1,291 5.21%
    37% 19 $1,295,000 $68,158 $983 5.27%
    44% 17 $1,625,000 $95,588 $1,709 5.49%
    46% 15 $1,845,000 $123,000 $1,316 4.87%
    47% 12 $1,620,000 $135,000 $1,382 5.04%
    >60% 12 $1,960,000 $163,333 $1,997 4.89%
    49% 9 $995,000 $110,556 $1,568 4.91%
    48% 8 $290,000 $36,250 $447 5.18%

    North Country lent most frequently to those with DTI ratios of 20-30%, with 111 originations. The next most common DTI ratio? 30-36%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 552 $47,770,000 $86,540 $1,105 5.08%
    Not applicable 20 $6,400,000 $320,000 $0 4.62%
    Not provided 27 $3,225,000 $119,444 $2,090 5.11%
    Asian 6 $1,150,000 $191,667 $1,886 4.42%
    American Indian 2 $50,000 $25,000 $242 4.47%
    Black 1 $25,000 $25,000 $360 6.39%

    Approval Rates

    Total approvals of all applications
    77.07%

    North Country has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    41.12%

    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 608 $58,620,000 $96,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $3,655,000 $522,143
    Single Family (1-4 Units):Manufactured 85 $4,995,000 $58,765
    Single Family (1-4 Units):Site-Built 516 $49,970,000 $96,841

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 130 $7,350,000 $56,538 $433 4.97%
    40-60% 79 $8,415,000 $106,519 $1,295 5.17%
    60-80% 152 $24,220,000 $159,342 $1,975 5.26%
    80-100% 73 $12,865,000 $176,233 $2,824 4.99%
    Over 100% 2 $400,000 $200,000 $2,853 6.44%
    Under 20% 168 $4,940,000 $29,405 $298 4.89%