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: Hartford, New Haven, Portland, Baltimore, and Providence among others. We have data for 100 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.26% | 4/22/24 |
| 30 Year Conventional Refi | 6.57% | 4/22/24 |
| 30 Year FHA Purchase | 7.32% | 4/22/24 |
| 30 Year FHA Refi | 7.31% | 4/22/24 |
| 30 Year VA Purchase | 6.22% | 4/22/24 |
| 30 Year VA Refi | 6.50% | 4/22/24 |
| 30 Year USDA Purchase | 6.66% | 4/22/24 |
| 30 Year USDA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 4.68% | 4/22/24 |
| 15 Year Conventional Refi | 5.94% | 4/22/24 |
| 15 Year Cash-out Refi | 5.94% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,376Origination Dollar Volume (All Markets)
$507,530,000Awards
NORWICH COMMERCIAL GROUP - 2018
NORWICH COMMERCIAL GROUP is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 407 | $86,465,000 | $212,445 | $5,367 | 4.77% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 268 | $52,690,000 | $196,604 | $5,792 | 4.74% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 174 | $42,750,000 | $245,690 | $5,801 | 4.91% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 181 | $41,515,000 | $229,365 | $7,822 | 5.01% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 126 | $28,900,000 | $229,365 | $6,505 | 4.84% |
| Torrington, CT (FHA|USDA|VA) | 146 | $26,730,000 | $183,082 | $6,161 | 4.73% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 121 | $24,755,000 | $204,587 | $5,595 | 4.86% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 68 | $22,390,000 | $329,265 | $8,672 | 5.03% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 128 | $20,940,000 | $163,594 | $5,219 | 4.68% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 72 | $19,960,000 | $277,222 | $7,194 | 4.76% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 47 | $19,685,000 | $418,830 | $7,846 | 4.98% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 99 | $19,635,000 | $198,333 | $5,170 | 4.80% |
| Outside of Metro Areas | 67 | $13,405,000 | $200,075 | $6,339 | 4.96% |
| COLUMBIA, SC (FHA|USDA|VA) | 42 | $7,290,000 | $173,571 | $4,884 | 5.22% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 35 | $7,075,000 | $202,143 | $5,203 | 4.86% |
| ALTOONA, PA (FHA|USDA|VA) | 60 | $6,770,000 | $112,833 | $5,665 | 5.03% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 24 | $5,460,000 | $227,500 | $6,717 | 5.24% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 13 | $4,515,000 | $347,308 | $6,253 | 4.91% |
| PITTSBURGH, PA (FHA|USDA|VA) | 25 | $3,995,000 | $159,800 | $6,538 | 5.18% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 24 | $3,570,000 | $148,750 | $6,080 | 5.11% |
| Indiana, PA (FHA|USDA|VA) | 25 | $3,025,000 | $121,000 | $5,714 | 5.28% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 14 | $2,630,000 | $187,857 | $5,570 | 4.79% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 12 | $2,340,000 | $195,000 | $6,454 | 5.06% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 11 | $2,325,000 | $211,364 | $7,096 | 5.27% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $6,364 | 4.39% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 11 | $2,075,000 | $188,636 | $6,769 | 4.61% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 7 | $1,775,000 | $253,571 | $5,366 | 5.13% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,620,000 | $405,000 | $9,192 | 4.53% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 9 | $1,565,000 | $173,889 | $4,256 | 5.08% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 8 | $1,540,000 | $192,500 | $4,275 | 4.94% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $6,495 | 4.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $8,377 | 4.55% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 5 | $1,305,000 | $261,000 | $7,015 | 4.98% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 6 | $1,100,000 | $183,333 | $6,302 | 5.02% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $6,111 | 4.68% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $5,872 | 5.50% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $5,076 | 5.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $2,576 | 4.66% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $5,367 | 5.08% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $12,652 | 5.06% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,094 | 4.54% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $7,792 | 4.08% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,056 | 4.83% |
| Newberry, SC (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $5,727 | 4.88% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $5,258 | 5.06% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 7 | $615,000 | $87,857 | $4,046 | 4.95% |
| Huntingdon, PA (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $6,337 | 4.67% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $6,519 | 5.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,464 | 4.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,853 | 4.94% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,098 | 5.29% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $15,205 | 5.50% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $12,465 | 5.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,629 | 5.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,802 | 4.63% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,910 | 5.25% |
| Sonora, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,739 | 4.50% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,892 | 4.50% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,920 | 5.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,227 | 5.19% |
| New Castle, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $8,614 | 5.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,762 | 4.75% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,699 | 5.31% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,643 | 4.88% |
| Concord, NH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $520 | 5.25% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,267 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,398 | 3.50% |
| Keene, NH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,696 | 5.25% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,491 | 4.75% |
| BANGOR, ME (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,138 | 4.81% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $4,928 | 5.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $618 | 5.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,014 | 4.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,131 | 3.25% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,701 | 5.88% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,701 | 4.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,195 | 5.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,042 | 5.75% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $11,049 | 5.63% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,608 | 4.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,962 | 5.13% |
| Lake City, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,800 | 4.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,431 | 4.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,094 | 4.75% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,249 | 5.25% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,457 | 5.63% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,669 | 4.75% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,591 | 5.25% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,435 | 5.25% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,406 | 3.88% |
| DuBois, PA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $4,672 | 4.81% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,442 | 5.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $714 | 5.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,013 | 4.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,874 | 5.25% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,117 | 3.88% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,838 | 5.13% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,178 | 5.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,872 | 5.63% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,828 | 4.63% |
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Product Mix
For 2018, Norwich Commercial Group's most frequently originated type of loan was Conventional, with 1,415 originations. Their 2nd most popular type was FHA, with 714 originations.
Loan Reason
For 2018, Norwich Commercial Group's most frequently cited loan purpose was Home Purchase, with 2,045 originations. The 2nd most popular reason was Refi, with 330 originations.
Loan Duration/Length
For 2018, Norwich Commercial Group's most frequently cited loan duration was 30 Year, with 2,276 originations. The 2nd most popular length was 15 Year, with 65 originations.
Origination Fees/Closing Costs
Norwich Commercial Group's average total fees were $6,081, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,011 originations.
Interest Rates
During 2018, Norwich Commercial Group's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 1,348 originations.
Loan Sizing
2018 saw Norwich Commercial Group place emphasis on $200k-400k loans with 1,013 originations, totaling $276,545,000 in origination value.
Applicant Income
Norwich Commercial Group lent most frequently to those with incomes in the $50k-75k range, with 778 originations. The second most popular income band? $75k-100k, with 467 originations.
Applicant Debt to Income Ratio
Norwich Commercial Group lent most frequently to those with DTI ratios of 30-36%, with 390 originations. The next most common DTI ratio? 20-30%, with 320 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.24%
Norwich Commercial Group has an average approval rate.
Pick Rate
Approvals leading to origination81.36%
Norwich Commercial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,376 | $507,530,000 | $213,607 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 7 | $855,000 | $122,143 |
| Single Family (1-4 Units):Site-Built | 2,369 | $506,675,000 | $213,877 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Norwich Commercial Group, Inc. | FHA mortgage | Closing on a mortgage | 1 | 100.0% |