Norwich Commercial Group Mortgage Rates, Fees & Info

AVON, CT

LEI: 549300T5QSL6MC8M4D04

Tax ID: 22-2894356

3.4 stars - out of 5 stars, based on 67 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Norwich Commercial Group is a small mortgage company specializing in Home Purchase and Refi loans. Norwich Commercial Group 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: Hartford, Portland, New Haven, Providence, and Baltimore among others. We have data for 139 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Norwich Commercial Group 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. Norwich Commercial Group 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 6.68% 10/3/22
    30 Year Conventional Refi 6.63% 10/3/22
    30 Year FHA Purchase 7.76% 10/3/22
    30 Year FHA Refi 7.50% 10/3/22
    30 Year VA Purchase 6.74% 10/3/22
    30 Year VA Refi 6.33% 10/3/22
    30 Year USDA Purchase 7.24% 10/3/22
    30 Year USDA Refi 6.80% 10/3/22
    15 Year Conventional Purchase 6.45% 10/3/22
    15 Year Conventional Refi 6.35% 10/3/22
    15 Year Cash-out Refi 6.35% 10/3/22
    15 Year FHA Refi 5.96% 10/3/22
    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

    4,535

    Origination Dollar Volume (All Markets)

    $1,137,615,000

    Awards

    NORWICH COMMERCIAL GROUP  30 Year Conventional Loans silver NORWICH COMMERCIAL GROUP  VA Loans silver NORWICH COMMERCIAL GROUP  30 Year Conventional Loans gold NORWICH COMMERCIAL GROUP  30 Year Conventional Loans gold
    Show all (4) awards

    Relative Rate

    Norwich Commercial Group 's average 30 year fixed mortgage rate was 3.23%.

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

    This yields a difference of 0.08%.

    Relative Fees (Closing Costs)

    Norwich Commercial Group 's average total fees/closing costs for a 30 year fixed rate mortgage were $6,118.

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1,138 $273,760,000 $240,562 $5,380 3.11%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 333 $97,085,000 $291,547 $4,649 3.26%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 392 $88,750,000 $226,403 $5,899 3.10%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 250 $71,070,000 $284,280 $6,000 3.17%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 230 $62,550,000 $271,957 $7,463 3.35%
    WORCESTER, MA-CT (FHA|USDA|VA) 224 $59,850,000 $267,188 $6,030 3.32%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 263 $59,355,000 $225,684 $5,379 3.05%
    SPRINGFIELD, MA (FHA|USDA|VA) 261 $59,225,000 $226,916 $5,308 3.03%
    Torrington, CT (FHA|USDA|VA) 246 $54,920,000 $223,252 $5,140 3.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 137 $49,125,000 $358,577 $9,169 3.38%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 129 $39,435,000 $305,698 $6,700 3.22%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 94 $37,130,000 $395,000 $6,904 3.29%
    SALISBURY, MD-DE (FHA|USDA|VA) 72 $17,700,000 $245,833 $5,200 3.09%
    Outside of Metro Areas 76 $14,680,000 $193,158 $5,160 3.16%
    ALTOONA, PA (FHA|USDA|VA) 98 $13,330,000 $136,020 $5,640 3.37%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 41 $10,175,000 $248,171 $6,713 3.24%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 18 $7,830,000 $435,000 $8,881 3.07%
    Indiana, PA (FHA|USDA|VA) 61 $7,785,000 $127,623 $6,611 3.64%
    PITTSBURGH, PA (FHA|USDA|VA) 38 $6,790,000 $178,684 $6,339 3.58%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 14 $5,980,000 $427,143 $7,734 2.95%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 16 $5,490,000 $343,125 $5,254 2.88%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 18 $5,000,000 $277,778 $9,338 3.08%
    Augusta-Waterville, ME (FHA|USDA|VA) 18 $4,300,000 $238,889 $5,593 3.28%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $4,185,000 $321,923 $5,741 2.96%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 14 $3,930,000 $280,714 $6,694 3.05%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 16 $3,590,000 $224,375 $4,325 3.01%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 15 $3,355,000 $223,667 $5,716 3.27%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 14 $3,300,000 $235,714 $4,013 2.86%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 14 $3,290,000 $235,000 $4,840 2.93%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $3,075,000 $341,667 $5,191 2.99%
    JOHNSTOWN, PA (FHA|USDA|VA) 24 $2,830,000 $117,917 $5,453 3.23%
    JACKSONVILLE, FL (FHA|USDA|VA) 12 $2,460,000 $205,000 $4,866 3.09%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $2,200,000 $366,667 $6,568 2.92%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $2,120,000 $265,000 $4,451 2.72%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $2,050,000 $341,667 $7,192 3.17%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $1,835,000 $262,143 $5,261 3.43%
    STOCKTON, CA (FHA|USDA|VA) 4 $1,630,000 $407,500 $7,849 2.97%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,580,000 $790,000 $7,283 3.19%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,550,000 $387,500 $5,630 3.56%
    RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,515,000 $303,000 $6,483 3.23%
    RICHMOND, VA (FHA|USDA|VA) 7 $1,475,000 $210,714 $4,943 3.02%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 8 $1,420,000 $177,500 $6,101 3.89%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,365,000 $273,000 $5,963 3.40%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 4 $1,320,000 $330,000 $5,230 3.66%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,185,000 $237,000 $2,960 3.28%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,175,000 $235,000 $4,463 3.20%
    Somerset, PA (FHA|USDA|VA) 7 $1,135,000 $162,143 $6,647 3.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 7 $1,035,000 $147,857 $4,291 3.05%
    Huntingdon, PA (FHA|USDA|VA) 7 $985,000 $140,714 $5,130 3.29%
    STATE COLLEGE, PA (FHA|USDA|VA) 4 $970,000 $242,500 $7,325 3.31%
    Lebanon, NH-VT (FHA|USDA|VA) 3 $915,000 $305,000 $6,086 3.96%
    FRESNO, CA (FHA|USDA|VA) 2 $890,000 $445,000 $5,131 2.81%
    Concord, NH (FHA|USDA|VA) 3 $775,000 $258,333 $6,483 3.33%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $710,000 $355,000 $7,871 2.94%
    WINCHESTER, VA-WV (FHA|USDA|VA) 4 $700,000 $175,000 $3,836 2.75%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $695,000 $139,000 $4,827 3.65%
    TALLAHASSEE, FL (FHA|USDA|VA) 3 $695,000 $231,667 $4,527 3.46%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $665,000 $221,667 $4,427 3.63%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $660,000 $330,000 $5,677 2.94%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $625,000 $208,333 $3,788 2.92%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $600,000 $300,000 $4,169 3.19%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $580,000 $290,000 $6,770 2.88%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $575,000 $191,667 $4,802 2.83%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $560,000 $280,000 $2,186 3.06%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $545,000 $545,000 $3,818 3.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $545,000 $545,000 $13,581 2.63%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $505,000 $168,333 $3,491 4.13%
    WILMINGTON, NC (FHA|USDA|VA) 3 $485,000 $161,667 $2,713 3.08%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $485,000 $161,667 $5,733 2.88%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $480,000 $240,000 $8,997 3.44%
    LANCASTER, PA (FHA|USDA|VA) 3 $475,000 $158,333 $5,056 3.13%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $450,000 $225,000 $11,505 3.25%
    OCALA, FL (FHA|USDA|VA) 3 $435,000 $145,000 $5,913 3.04%
    Clewiston, FL (FHA|USDA|VA) 2 $420,000 $210,000 $6,613 3.38%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $415,000 $415,000 $13,482 3.50%
    SAVANNAH, GA (FHA|USDA|VA) 1 $395,000 $395,000 $4,228 2.75%
    MODESTO, CA (FHA|USDA|VA) 2 $390,000 $195,000 $3,090 2.69%
    KINGSTON, NY (FHA|USDA|VA) 1 $385,000 $385,000 $4,747 3.50%
    Laconia, NH (FHA|USDA|VA) 2 $380,000 $190,000 $3,070 2.81%
    BANGOR, ME (FHA|USDA|VA) 2 $380,000 $190,000 $3,725 3.25%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $370,000 $185,000 $4,173 2.88%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $370,000 $185,000 $8,642 3.19%
    DuBois, PA (FHA|USDA|VA) 3 $365,000 $121,667 $6,063 3.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $355,000 $355,000 $13,596 5.13%
    COLUMBIA, SC (FHA|USDA|VA) 1 $345,000 $345,000 $16,874 3.13%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $345,000 $345,000 $2,782 2.75%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $340,000 $170,000 $2,858 2.50%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $335,000 $335,000 $4,393 3.13%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $320,000 $160,000 $4,512 3.13%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $295,000 $295,000 $4,542 2.38%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $275,000 $275,000 $9,236 5.00%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $275,000 $275,000 $6,684 2.63%
    Sturgis, MI (FHA|USDA|VA) 1 $265,000 $265,000 $5,215 3.25%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $265,000 $265,000 $8,361 5.25%
    Crescent City, CA (FHA|USDA|VA) 1 $265,000 $265,000 $5,361 2.63%
    ERIE, PA (FHA|USDA|VA) 1 $265,000 $265,000 $5,627 3.38%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $265,000 $265,000 $9,223 3.38%
    NEW BERN, NC (FHA|USDA|VA) 1 $265,000 $265,000 $3,666 3.38%
    Rutland, VT (FHA|USDA|VA) 1 $265,000 $265,000 $4,017 4.25%
    Ashland, OH (FHA|USDA|VA) 1 $255,000 $255,000 $3,644 3.38%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $255,000 $255,000 $9,857 3.25%
    Washington, NC (FHA|USDA|VA) 1 $255,000 $255,000 $9,008 3.75%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $245,000 $245,000 $3,436 3.25%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $245,000 $245,000 $4,271 3.25%
    Easton, MD (FHA|USDA|VA) 1 $245,000 $245,000 $7,041 3.63%
    AKRON, OH (FHA|USDA|VA) 1 $245,000 $245,000 $8,669 5.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.38%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,280 3.00%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $225,000 $225,000 $3,056 3.25%
    Keene, NH (FHA|USDA|VA) 1 $215,000 $215,000 $6,533 2.88%
    Jefferson, GA (FHA|USDA|VA) 1 $215,000 $215,000 $2,538 2.88%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,448 2.75%
    Douglas, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,610 3.50%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $195,000 $195,000 $5,980 3.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,397 2.75%
    Ukiah, CA (FHA|USDA|VA) 1 $185,000 $185,000 $2,369 2.75%
    Berlin, NH (FHA|USDA|VA) 1 $185,000 $185,000 $3,626 3.25%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $175,000 $175,000 $4,133 3.13%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $175,000 $175,000 $6,364 3.25%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $175,000 $175,000 $5,004 3.00%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,173 3.13%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $175,000 $175,000 $5,029 2.75%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $175,000 $175,000 $1,855 3.00%
    Rockingham, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,788 3.25%
    Richmond, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,434 2.75%
    MADERA, CA (FHA|USDA|VA) 1 $165,000 $165,000 $3,882 2.88%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,807 2.25%
    SUMTER, SC (FHA|USDA|VA) 1 $145,000 $145,000 $5,510 2.75%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,335 2.88%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $135,000 $135,000 $6,341 3.13%
    Big Stone Gap, VA (FHA|USDA|VA) 1 $135,000 $135,000 $6,877 4.50%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $125,000 $125,000 $4,781 3.50%
    Scottsburg, IN (FHA|USDA|VA) 1 $125,000 $125,000 $5,721 4.25%
    VISALIA, CA (FHA|USDA|VA) 1 $125,000 $125,000 $6,501 3.38%
    EL PASO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,655 3.13%
    Arcadia, FL (FHA|USDA|VA) 1 $95,000 $95,000 $5,367 3.63%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $85,000 $85,000 $4,228 4.25%
    Okeechobee, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,141 4.00%
    New Castle, PA (FHA|USDA|VA) 1 $75,000 $75,000 $4,606 3.75%

    Norwich Commercial Group 's top markets include Hartford, Portland, New Haven, Providence, and Baltimore among others.

    Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,423 $859,525,000 $251,103 $4,686 3.14%
    FHA 868 $215,890,000 $248,721 $9,646 3.33%
    VA 143 $45,205,000 $316,119 $7,780 3.10%
    USDA 101 $16,995,000 $168,267 $6,320 3.29%

    For 2021, Norwich Commercial Group 's most frequently originated type of loan was Conventional, with 3,423 originations. Their 2nd most popular type was FHA, with 868 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,754 $691,760,000 $251,184 $6,446 3.25%
    Refi 1,781 $445,855,000 $250,340 $4,779 3.07%

    For 2021, Norwich Commercial Group 's most frequently cited loan purpose was Home Purchase, with 2,754 originations. The 2nd most popular reason was Refi, with 1,781 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,856 $988,790,000 $256,429 $6,118 3.23%
    15 Year 411 $91,325,000 $222,202 $3,981 2.59%
    20 Year 151 $34,835,000 $230,695 $4,227 3.04%
    Other 74 $17,760,000 $240,000 $3,903 3.00%
    10 Year 39 $3,635,000 $93,205 $1,842 4.74%
    30+ year 4 $1,270,000 $317,500 $5,427 3.59%

    For 2021, Norwich Commercial Group 's most frequently cited loan duration was 30 Year, with 3,856 originations. The 2nd most popular length was 15 Year, with 411 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,430 $613,170,000 $252,333
    $2k-3k 828 $196,730,000 $237,597
    $3k-4k 390 $97,520,000 $250,051
    $5k+ 340 $116,610,000 $342,971
    $<1k 311 $50,435,000 $162,170
    $4k-5k 215 $60,095,000 $279,512

    Norwich Commercial Group 's average total fees were $6,118, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,430 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,329 $605,335,000 $259,912
    2.5-3% 1,494 $384,450,000 $257,329
    <2.5% 401 $81,855,000 $204,127
    4-5% 260 $59,910,000 $230,423
    5-6% 46 $6,010,000 $130,652
    7-8% 5 $55,000 $11,000

    During 2021, Norwich Commercial Group 's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 2,329 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,446 $674,930,000 $275,932 $6,091 3.19%
    $100k-200k 1,331 $210,585,000 $158,216 $4,782 3.18%
    $400k-600k 439 $205,965,000 $469,169 $7,728 3.16%
    $100,000 or less 277 $15,235,000 $55,000 $3,470 3.10%
    $600k-1MM 41 $29,895,000 $729,146 $10,866 3.09%
    $1MM+ 1 $1,005,000 $1,005,000 $13,693 3.13%

    2021 saw Norwich Commercial Group place emphasis on $200k-400k loans with 2,446 originations, totaling $674,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,272 $263,110,000 $206,847 $5,794 3.16%
    $100k-150k 923 $275,135,000 $298,088 $6,061 3.23%
    $75k-100k 922 $235,830,000 $255,781 $6,181 3.24%
    $50k or less 688 $114,480,000 $166,395 $5,384 3.14%
    $150k-250k 583 $195,605,000 $335,515 $5,291 3.09%
    $250k+ 144 $52,750,000 $366,319 $5,270 3.17%

    Norwich Commercial Group lent most frequently to those with incomes in the $50k-75k range, with 1,272 originations. The second most popular income band? $100k-150k, with 923 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 965 $234,555,000 $243,062 $4,894 3.09%
    30-36% 850 $207,750,000 $244,412 $5,394 3.18%
    <20% 274 $67,680,000 $247,007 $4,619 3.05%
    44% 230 $62,130,000 $270,130 $6,420 3.27%
    50-60% 222 $60,300,000 $271,622 $9,834 3.26%
    41% 191 $46,165,000 $241,702 $5,869 3.23%
    40% 189 $46,205,000 $244,471 $6,200 3.29%
    42% 187 $46,975,000 $251,203 $6,223 3.20%
    36% 172 $42,040,000 $244,419 $5,648 3.20%
    38% 166 $41,230,000 $248,373 $5,354 3.21%
    43% 156 $40,990,000 $262,756 $6,271 3.27%
    39% 156 $39,740,000 $254,744 $5,647 3.20%
    37% 147 $35,875,000 $244,048 $5,260 3.27%
    49% 138 $37,230,000 $269,783 $6,839 3.21%
    46% 123 $31,755,000 $258,171 $6,507 3.17%
    47% 107 $27,745,000 $259,299 $6,460 3.35%
    45% 97 $25,085,000 $258,608 $5,873 3.12%
    48% 90 $23,550,000 $261,667 $6,537 3.26%
    >60% 3 $915,000 $305,000 $5,804 4.04%

    Norwich Commercial Group lent most frequently to those with DTI ratios of 20-30%, with 965 originations. The next most common DTI ratio? 30-36%, with 850 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,472 $862,640,000 $248,456 $5,539 3.17%
    Not provided 578 $148,570,000 $257,042 $5,894 3.14%
    Black 353 $88,695,000 $251,261 $7,833 3.33%
    Asian 114 $33,310,000 $292,193 $6,253 3.18%
    American Indian 6 $2,020,000 $336,667 $6,127 3.04%
    Not applicable 5 $1,345,000 $269,000 $9,398 3.33%
    Native Hawaiian or Islander 6 $780,000 $130,000 $5,520 2.31%
    Other Asian 1 $255,000 $255,000 $6,327 2.75%

    Approval Rates

    Total approvals of all applications
    91.16%

    Norwich Commercial Group has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.14%

    Norwich Commercial Group has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,535 $1,137,615,000 $250,852

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,535 $1,137,615,000 $250,852

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 97 $17,065,000 $175,928 $3,825 2.86%
    40-60% 442 $102,430,000 $231,742 $4,067 2.92%
    60-80% 1,441 $371,445,000 $257,769 $4,830 3.19%
    80-100% 2,414 $632,080,000 $261,839 $6,739 3.26%
    Over 100% 38 $12,870,000 $338,684 $12,153 3.37%
    Under 20% 103 $1,725,000 $16,748 $385 2.48%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Norwich Commercial Group, Inc. Conventional home mortgage Trouble during payment process 1 25.0%
    Norwich Commercial Group, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
    Norwich Commercial Group, Inc. FHA mortgage Incorrect information on your report 1 25.0%