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, Springfield, and Norwich among others. We have data for 99 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 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% | 12/2/24 |
| 30 Year Conventional Refi | 6.57% | 12/2/24 |
| 30 Year FHA Purchase | 7.32% | 12/2/24 |
| 30 Year FHA Refi | 7.31% | 12/2/24 |
| 30 Year VA Purchase | 6.22% | 12/2/24 |
| 30 Year VA Refi | 6.50% | 12/2/24 |
| 30 Year USDA Purchase | 6.66% | 12/2/24 |
| 30 Year USDA Refi | 6.27% | 12/2/24 |
| 15 Year Conventional Purchase | 4.68% | 12/2/24 |
| 15 Year Conventional Refi | 5.94% | 12/2/24 |
| 15 Year Cash-out Refi | 5.94% | 12/2/24 |
| 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
2,489Origination Dollar Volume (All Markets)
$643,275,000Awards
NORWICH COMMERCIAL GROUP - 2022
NORWICH COMMERCIAL GROUP is a 2022 , due to their low .
For 2022, 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) | 538 | $126,320,000 | $234,796 | $6,929 | 4.61% |
| Outside of Metro Areas | 150 | $52,130,000 | $347,533 | $15,054 | 4.77% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 221 | $50,465,000 | $228,348 | $7,519 | 4.75% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 136 | $43,660,000 | $321,029 | $7,371 | 5.44% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 176 | $43,480,000 | $247,045 | $7,365 | 4.94% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 161 | $39,065,000 | $242,640 | $7,201 | 4.59% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 113 | $31,905,000 | $282,345 | $7,552 | 4.93% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 93 | $29,025,000 | $312,097 | $10,937 | 5.10% |
| Torrington, CT (FHA|USDA|VA) | 135 | $25,615,000 | $189,741 | $6,688 | 4.60% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 79 | $24,855,000 | $314,620 | $10,856 | 4.90% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 63 | $24,255,000 | $385,000 | $9,667 | 5.24% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 46 | $17,950,000 | $390,217 | $11,343 | 5.24% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 47 | $13,105,000 | $278,830 | $7,892 | 4.83% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 41 | $10,745,000 | $262,073 | $10,340 | 4.96% |
| PITTSBURGH, PA (FHA|USDA|VA) | 48 | $10,630,000 | $221,458 | $6,562 | 5.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 22 | $8,100,000 | $368,182 | $12,448 | 5.05% |
| ALTOONA, PA (FHA|USDA|VA) | 54 | $8,040,000 | $148,889 | $6,779 | 5.33% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 31 | $7,715,000 | $248,871 | $7,292 | 5.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 49 | $6,725,000 | $137,245 | $5,319 | 4.63% |
| Indiana, PA (FHA|USDA|VA) | 40 | $5,870,000 | $146,750 | $6,513 | 5.27% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 18 | $5,610,000 | $311,667 | $11,293 | 5.22% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 17 | $4,875,000 | $286,765 | $8,731 | 5.74% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 12 | $3,250,000 | $270,833 | $6,519 | 5.05% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 11 | $3,205,000 | $291,364 | $9,048 | 4.66% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 11 | $2,815,000 | $255,909 | $6,529 | 4.86% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 15 | $2,175,000 | $145,000 | $6,114 | 5.33% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,130,000 | $355,000 | $9,147 | 4.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 6 | $2,100,000 | $350,000 | $11,139 | 4.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $2,075,000 | $691,667 | $4,348 | 4.67% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 7 | $1,995,000 | $285,000 | $10,595 | 5.46% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $11,784 | 5.09% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $10,709 | 4.80% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $9,015 | 5.97% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $8,443 | 3.60% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $6,751 | 5.10% |
| DuBois, PA (FHA|USDA|VA) | 8 | $1,070,000 | $133,750 | $7,208 | 4.53% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $5,795 | 5.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $980,000 | $163,333 | $6,682 | 4.21% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $19,026 | 3.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $9,951 | 5.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $6,767 | 5.38% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $7,453 | 5.63% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $10,012 | 5.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $9,672 | 6.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $9,721 | 3.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $7,111 | 5.29% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $6,096 | 6.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $12,313 | 2.83% |
| Berlin, NH (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $5,834 | 5.19% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $4,928 | 3.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $7,347 | 5.43% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $5,278 | 3.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $10,215 | 5.63% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,460 | 6.25% |
| Keene, NH (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,300 | 5.06% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $6,195 | 4.38% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $14,993 | 5.75% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $15,349 | 5.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $2,932 | 3.92% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $5,927 | 3.17% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,406 | 4.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $14,989 | 5.50% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,319 | 4.75% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $22,003 | 5.75% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,306 | 6.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $3,066 | 7.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,862 | 3.50% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,107 | 4.25% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,710 | 3.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $7,969 | 5.63% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,161 | 5.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $11,795 | 3.75% |
| Somerset, PA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $6,448 | 5.25% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,251 | 2.31% |
| AKRON, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,220 | 3.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,907 | 5.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,096 | 4.63% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,929 | 4.88% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $14,045 | 5.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 2.88% |
| Concord, NH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,285 | 5.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,758 | 3.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,989 | 3.50% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $13,568 | 6.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,114 | 7.13% |
| Palatka, FL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,661 | 2.38% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,818 | 5.25% |
| Huntingdon, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $6,353 | 6.25% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,970 | 3.25% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,712 | 3.50% |
| ODESSA, TX (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $2,856 | 2.50% |
| Lewistown, PA (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $3,878 | 6.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $9,139 | 6.13% |
| READING, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $12,039 | 5.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,002 | 5.25% |
| Lock Haven, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $11,052 | 5.25% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,055 | 5.13% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,523 | 4.63% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.63% |
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Product Mix
For 2022, Norwich Commercial Group's most frequently originated type of loan was Conventional, with 1,647 originations. Their 2nd most popular type was FHA, with 662 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 2,137 | $550,435,000 | $257,574 | $8,348 | 4.94% |
| Refi | 352 | $92,840,000 | $263,750 | $7,543 | 4.49% |
For 2022, Norwich Commercial Group's most frequently cited loan purpose was Home Purchase, with 2,137 originations. The 2nd most popular reason was Refi, with 352 originations.
Loan Duration/Length
For 2022, Norwich Commercial Group's most frequently cited loan duration was 30 Year, with 2,332 originations. The 2nd most popular length was 15 Year, with 86 originations.
Origination Fees/Closing Costs
Norwich Commercial Group's average total fees were $8,499, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 806 originations.
Interest Rates
During 2022, Norwich Commercial Group's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 822 originations.
Loan Sizing
2022 saw Norwich Commercial Group place emphasis on $200k-400k loans with 1,317 originations, totaling $374,545,000 in origination value.
Applicant Income
Norwich Commercial Group lent most frequently to those with incomes in the $50k-75k range, with 736 originations. The second most popular income band? $75k-100k, with 587 originations.
Applicant Debt to Income Ratio
Norwich Commercial Group lent most frequently to those with DTI ratios of 30-36%, with 431 originations. The next most common DTI ratio? 20-30%, with 316 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.86%
Norwich Commercial Group has an average approval rate.
Pick Rate
Approvals leading to origination83.17%
Norwich Commercial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,489 | $643,275,000 | $258,447 |