Norwich Commercial Group Mortgage Rates, Fees & Info
AVON, CTLEI: 549300T5QSL6MC8M4D04
Tax ID: 22-2894356
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Mortgage Data
Review & Overview
Norwich Commercial Group is a smaller mortgage company specializing in Home Purchase 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: New York, Hartford, New Haven, Portland, and Norwich among others. We have data for 116 markets. (Some data included below & more in-depth data is available with an active subscription.)Norwich Commercial Group 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. Norwich Commercial Group is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.26% | 4/18/24 |
| 30 Year Conventional Refi | 6.57% | 4/18/24 |
| 30 Year FHA Purchase | 7.32% | 4/18/24 |
| 30 Year FHA Refi | 7.31% | 4/18/24 |
| 30 Year VA Purchase | 6.22% | 4/18/24 |
| 30 Year VA Refi | 6.50% | 4/18/24 |
| 30 Year USDA Purchase | 6.66% | 4/18/24 |
| 30 Year USDA Refi | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 4.68% | 4/18/24 |
| 15 Year Conventional Refi | 5.94% | 4/18/24 |
| 15 Year Cash-out Refi | 5.94% | 4/18/24 |
| 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. | ||
Norwich Commercial Group Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Norwich Commercial Group. 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
2,383Origination Dollar Volume (All Markets)
$717,325,000Awards
NORWICH COMMERCIAL GROUP - 2023
NORWICH COMMERCIAL GROUP is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Norwich Commercial Group's average 30 year fixed mortgage rate was
6.27%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.21%.
Relative Fees (Closing Costs)
Norwich Commercial Group's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,663.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 341 | $171,425,000 | $502,713 | $13,973 | 6.73% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 349 | $75,035,000 | $215,000 | $7,055 | 5.47% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 238 | $45,760,000 | $192,269 | $7,303 | 5.25% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 104 | $40,230,000 | $386,827 | $7,245 | 6.89% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 131 | $36,655,000 | $279,809 | $9,086 | 5.86% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 122 | $32,430,000 | $265,820 | $8,063 | 6.39% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 93 | $27,665,000 | $297,473 | $9,450 | 6.44% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 62 | $26,140,000 | $421,613 | $12,072 | 6.30% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 54 | $23,750,000 | $439,815 | $13,980 | 6.61% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 65 | $20,155,000 | $310,077 | $11,103 | 6.56% |
| PITTSBURGH, PA (FHA|USDA|VA) | 90 | $19,150,000 | $212,778 | $7,435 | 6.65% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 52 | $16,920,000 | $325,385 | $9,123 | 6.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 44 | $15,150,000 | $344,318 | $10,382 | 5.72% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 34 | $14,780,000 | $434,706 | $12,216 | 7.64% |
| Torrington, CT (FHA|USDA|VA) | 74 | $14,020,000 | $189,459 | $7,285 | 5.48% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 41 | $13,155,000 | $320,854 | $11,756 | 6.86% |
| Outside of Metro Areas | 40 | $11,390,000 | $284,750 | $11,946 | 7.02% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 33 | $6,315,000 | $191,364 | $6,133 | 5.40% |
| Indiana, PA (FHA|USDA|VA) | 42 | $6,150,000 | $146,429 | $7,426 | 6.92% |
| ALTOONA, PA (FHA|USDA|VA) | 39 | $5,755,000 | $147,564 | $7,593 | 6.72% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 11 | $5,655,000 | $514,091 | $8,210 | 6.49% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $5,610,000 | $350,625 | $8,749 | 6.61% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 15 | $4,765,000 | $317,667 | $8,301 | 7.08% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 9 | $4,715,000 | $523,889 | $16,175 | 6.61% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 13 | $4,115,000 | $316,538 | $9,822 | 6.79% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 14 | $3,910,000 | $279,286 | $11,706 | 6.79% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 12 | $3,740,000 | $311,667 | $13,067 | 6.70% |
| PITTSFIELD, MA (FHA|USDA|VA) | 14 | $3,150,000 | $225,000 | $7,436 | 5.89% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 9 | $2,655,000 | $295,000 | $12,280 | 7.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,545,000 | $282,778 | $8,254 | 5.57% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $2,370,000 | $296,250 | $9,254 | 5.72% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $2,305,000 | $461,000 | $8,052 | 6.70% |
| LOUISVILLE, KY (FHA|USDA|VA) | 8 | $2,190,000 | $273,750 | $6,530 | 7.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 12 | $1,830,000 | $152,500 | $8,253 | 5.96% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,755,000 | $585,000 | $14,087 | 6.25% |
| Lebanon, NH-VT (FHA|USDA|VA) | 7 | $1,665,000 | $237,857 | $7,398 | 7.27% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $14,801 | 7.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,580,000 | $395,000 | $16,044 | 6.97% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $13,763 | 6.25% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 13 | $1,355,000 | $104,231 | $6,068 | 6.82% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $8,781 | 5.21% |
| Berlin, NH (FHA|USDA|VA) | 5 | $1,225,000 | $245,000 | $7,322 | 6.30% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $6,911 | 6.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $9,827 | 6.56% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $11,399 | 6.44% |
| DuBois, PA (FHA|USDA|VA) | 7 | $1,055,000 | $150,714 | $7,038 | 6.82% |
| DOVER, DE (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $12,546 | 6.38% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $14,235 | 6.58% |
| KINGSTON, NY (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $0 | 8.08% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $7,119 | 6.81% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $8,572 | 6.38% |
| LaGrange, GA-AL (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $4,576 | 6.98% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $7,409 | 6.31% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $14,314 | 6.67% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $14,346 | 7.25% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $5,192 | 7.29% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $9,614 | 6.38% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $9,259 | 6.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 5 | $665,000 | $133,000 | $7,767 | 5.10% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $11,340 | 7.19% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $17,675 | 6.88% |
| Corning, NY (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $9,332 | 6.56% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $17,996 | 7.63% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $17,758 | 6.75% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $5,591 | 6.79% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $12,542 | 6.75% |
| Hudson, NY (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $10,304 | 6.63% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $29,019 | 5.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $11,480 | 6.94% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,472 | 6.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $5,718 | 8.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,417 | 5.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,933 | 6.44% |
| Orangeburg, SC (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $4,895 | 7.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,483 | 7.75% |
| Lewistown, PA (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $5,761 | 6.83% |
| MERCED, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,638 | 7.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $21,990 | 7.75% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,508 | 7.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,849 | 6.63% |
| Bennington, VT (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $7,664 | 6.31% |
| MADERA, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $10,866 | 6.25% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,010 | 6.75% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $14,874 | 6.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,134 | 7.69% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,638 | 7.63% |
| Cortland, NY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 7.63% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,149 | 7.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,112 | 6.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,554 | 8.63% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,337 | 6.13% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,819 | 6.25% |
| ELMIRA, NY (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $10,066 | 6.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,656 | 7.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,950 | 6.75% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,108 | 6.75% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $12,692 | 7.13% |
| Shelby, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,228 | 6.25% |
| Somerset, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $11,797 | 6.75% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,140 | 7.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,134 | 7.25% |
| Sanford, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,310 | 7.75% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,272 | 7.63% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,314 | 7.25% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,616 | 6.38% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $2,969 | 3.69% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,933 | 6.75% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,277 | 8.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $8,340 | 6.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,310 | 7.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,393 | 7.25% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,416 | 8.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $7,056 | 6.50% |
| New Castle, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,483 | 8.13% |
| AKRON, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,185 | 6.50% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,050 | 6.13% |
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Product Mix
For 2023, Norwich Commercial Group's most frequently originated type of loan was Conventional, with 1,598 originations. Their 2nd most popular type was FHA, with 635 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 2,167 | $641,645,000 | $296,098 | $9,359 | 6.13% |
| Refi | 216 | $75,680,000 | $350,370 | $10,960 | 7.17% |
For 2023, Norwich Commercial Group's most frequently cited loan purpose was Home Purchase, with 2,167 originations. The 2nd most popular reason was Refi, with 216 originations.
Loan Duration/Length
For 2023, Norwich Commercial Group's most frequently cited loan duration was 30 Year, with 2,275 originations. The 2nd most popular length was 15 Year, with 47 originations.
Origination Fees/Closing Costs
Norwich Commercial Group's average total fees were $9,663, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 637 originations.
Interest Rates
During 2023, Norwich Commercial Group's average interest rate for loans was 6.27%, while their most frequently originated rate bucket for loans was 6-7%, with 1,119 originations.
Loan Sizing
2023 saw Norwich Commercial Group place emphasis on $200k-400k loans with 1,061 originations, totaling $307,905,000 in origination value.
Applicant Income
Norwich Commercial Group lent most frequently to those with incomes in the $100k-150k range, with 574 originations. The second most popular income band? $75k-100k, with 573 originations.
Applicant Debt to Income Ratio
Norwich Commercial Group lent most frequently to those with DTI ratios of 30-36%, with 325 originations. The next most common DTI ratio? 20-30%, with 254 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.50%
Norwich Commercial Group has an average approval rate.
Pick Rate
Approvals leading to origination83.26%
Norwich Commercial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,383 | $717,325,000 | $301,018 |