The Northern Trust Company Mortgage Rates, Fees & Info

Chicago, IL

LEI: 6PTKHDJ8HDUF78PFWH30

Tax ID: 36-1561860

5 stars - Updated: 10/13/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

The Northern Trust Company is a smaller mortgage company specializing in Home Purchase and Refi loans. The Northern Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Miami, San Jose, Los Angeles, and New York among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Northern Trust Company 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. The Northern Trust Company 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.

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 5.94% 10/13/24
30 Year Conventional Refi 5.81% 10/13/24
15 Year Conventional Purchase 5.64% 10/13/24
15 Year Conventional Refi 5.84% 10/13/24
15 Year Cash-out Refi 5.84% 10/13/24
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.

The Northern Trust Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Northern Trust Company. 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

245

Origination Dollar Volume (All Markets)

$777,675,000

Awards

The Northern Trust Company 30 Year Conventional Loans silver The Northern Trust Company 30 Year Conventional Loans gold The Northern Trust Company 30 Year Conventional Loans silver The Northern Trust Company 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

The Northern Trust Company's average 30 year fixed mortgage rate was 6.08%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.4%.

Relative Fees (Closing Costs)

The Northern Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $10,339.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 35 $141,155,000 $4,033,000 $5,065 6.17%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 33 $135,605,000 $4,109,242 $15,821 6.19%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $110,005,000 $110,005,000 $0 6.80%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 15 $48,295,000 $3,219,667 $16,331 6.03%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $36,310,000 $2,593,571 $9,492 6.12%
Key West, FL (FHA|USDA|VA) 5 $35,995,000 $7,199,000 $11,738 5.88%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $35,795,000 $11,931,667 $0 8.04%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 9 $28,405,000 $3,156,111 $13,829 5.88%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $22,100,000 $5,525,000 $31,865 5.94%
Heber, UT (FHA|USDA|VA) 2 $10,890,000 $5,445,000 $11,906 6.25%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 7 $10,345,000 $1,477,857 $12,215 5.80%
Glenwood Springs, CO (FHA|USDA|VA) 1 $9,425,000 $9,425,000 $16,187 5.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $9,085,000 $3,028,333 $15,327 5.92%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 9 $8,625,000 $958,333 $11,385 6.14%
Traverse City, MI (FHA|USDA|VA) 1 $8,435,000 $8,435,000 $0 6.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $7,965,000 $2,655,000 $10,317 5.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $6,925,000 $989,286 $5,190 6.29%
Outside of Metro Areas 6 $6,720,000 $1,120,000 $17,137 6.29%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $6,660,000 $1,110,000 $8,772 6.08%
Jackson, WY-ID (FHA|USDA|VA) 2 $6,020,000 $3,010,000 $11,875 6.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $5,490,000 $1,372,500 $5,651 6.00%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $4,860,000 $2,430,000 $8,250 5.81%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $4,840,000 $2,420,000 $12,140 5.94%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 3 $4,835,000 $1,611,667 $11,817 6.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $4,720,000 $1,180,000 $5,370 6.22%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $3,590,000 $1,795,000 $32,991 6.13%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $3,415,000 $3,415,000 $9,648 6.38%
NAPA, CA (FHA|USDA|VA) 1 $3,235,000 $3,235,000 $8,500 5.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $3,120,000 $1,560,000 $8,625 6.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $3,010,000 $1,505,000 $10,352 5.69%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $2,825,000 $941,667 $7,752 6.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $2,680,000 $670,000 $15,526 5.88%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $2,555,000 $2,555,000 $13,882 5.13%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $6,195 5.50%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $2,260,000 $1,130,000 $5,245 6.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $2,255,000 $751,667 $4,568 6.38%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $2,255,000 $2,255,000 $0 6.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $2,095,000 $2,095,000 $0 6.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $2,055,000 $2,055,000 $9,136 5.75%
MADISON, WI (FHA|USDA|VA) 1 $2,035,000 $2,035,000 $5,370 5.88%
Kalispell, MT (FHA|USDA|VA) 1 $1,825,000 $1,825,000 $0 6.00%
Hudson, NY (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $11,154 6.13%
Edwards, CO (FHA|USDA|VA) 2 $1,690,000 $845,000 $3,607 6.19%
Keene, NH (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 6.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,460,000 $730,000 $6,180 6.06%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $9,981 5.88%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $6,008 6.50%
NILES, MI (FHA|USDA|VA) 2 $1,160,000 $580,000 $4,430 5.94%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 6.13%
ASHEVILLE, NC (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $0 5.75%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 6.25%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $955,000 $955,000 $5,399 6.25%
SALINAS, CA (FHA|USDA|VA) 1 $945,000 $945,000 $5,537 5.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $905,000 $905,000 $3,922 6.13%
Laconia, NH (FHA|USDA|VA) 1 $875,000 $875,000 $0 6.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $820,000 $410,000 $4,086 6.50%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $805,000 $805,000 $5,979 5.50%
Steamboat Springs, CO (FHA|USDA|VA) 1 $755,000 $755,000 $4,469 5.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $745,000 $745,000 $7,457 6.25%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $705,000 $705,000 $2,489 5.63%
BOISE CITY, ID (FHA|USDA|VA) 2 $670,000 $335,000 $4,470 6.19%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $505,000 $505,000 $4,726 6.25%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $495,000 $495,000 $0 6.13%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $485,000 $485,000 $4,153 6.50%
GREELEY, CO (FHA|USDA|VA) 1 $465,000 $465,000 $3,228 5.50%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $465,000 $465,000 $4,793 5.88%
Georgetown, SC (FHA|USDA|VA) 1 $455,000 $455,000 $3,413 6.00%
Port Angeles, WA (FHA|USDA|VA) 1 $445,000 $445,000 $3,157 6.25%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $405,000 $405,000 $6,148 6.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $325,000 $325,000 $3,725 6.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $325,000 $325,000 $2,654 6.13%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $265,000 $265,000 $4,204 6.25%
COLUMBUS, OH (FHA|USDA|VA) 1 $255,000 $255,000 $4,279 6.00%
The Northern Trust Company's top markets include Chicago, Miami, San Jose, Los Angeles, and New York among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Northern Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    COASTHILLS
    Similarity Rank: 45
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $777,675,000 $3,174,184 $10,089 6.11%

    For 2023, The Northern Trust Company's most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 131 $443,365,000 $3,384,466 $12,272 6.19%
    Other 75 $140,075,000 $1,867,667 $6,554 6.02%
    Refi 38 $193,200,000 $5,084,211 $8,949 6.04%
    Home Improvement 1 $1,035,000 $1,035,000 $31,311 5.88%

    For 2023, The Northern Trust Company's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Other, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 197 $371,005,000 $1,883,274 $10,339 6.08%
    15 Year 26 $57,120,000 $2,196,923 $8,635 5.93%
    5 Year 8 $227,100,000 $28,387,500 $0 6.93%
    10 Year 6 $10,650,000 $1,775,000 $7,443 5.56%
    3 Year 4 $74,200,000 $18,550,000 $0 7.76%
    Other 4 $37,600,000 $9,400,000 $10,473 6.49%

    For 2023, The Northern Trust Company's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 173 $266,805,000 $1,542,225
    $5k+ 11 $47,625,000 $4,329,545
    $1k-2k 6 $4,600,000 $766,667
    $3k-4k 2 $1,830,000 $915,000

    The Northern Trust Company's average total fees were $10,339, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 122 $265,980,000 $2,180,164
    6-7% 116 $432,570,000 $3,729,052
    7-8% 4 $68,480,000 $17,120,000
    Over 8% 3 $10,645,000 $3,548,333

    During 2023, The Northern Trust Company's average interest rate for loans was 6.08%, while their most frequently originated rate bucket for loans was 5-6%, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 131 $712,735,000 $5,440,725 $14,920 6.10%
    $600k-1MM 49 $38,655,000 $788,878 $6,186 6.03%
    $400k-600k 37 $17,795,000 $480,946 $4,808 6.24%
    $200k-400k 26 $8,220,000 $316,154 $4,460 6.18%
    $100k-200k 2 $270,000 $135,000 $3,885 5.63%

    2023 saw The Northern Trust Company place emphasis on $1MM+ loans with 131 originations, totaling $712,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 111 $167,475,000 $1,508,784 $10,135 6.03%
    $150k-250k 18 $19,000,000 $1,055,556 $10,288 6.15%
    $100k-150k 10 $6,420,000 $642,000 $4,112 5.95%
    $50k-75k 6 $4,860,000 $810,000 $7,373 6.27%
    $75k-100k 5 $6,865,000 $1,373,000 $8,081 6.15%
    $50k or less 4 $3,000,000 $750,000 $6,569 5.91%

    The Northern Trust Company lent most frequently to those with incomes in the $250k+ range, with 111 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $88,590,000 $1,527,414 $10,234 6.03%
    30-36% 34 $46,130,000 $1,356,765 $5,905 6.15%
    <20% 31 $48,425,000 $1,562,097 $10,845 5.96%
    >60% 13 $32,525,000 $2,501,923 $18,350 6.08%
    37% 12 $17,430,000 $1,452,500 $7,260 6.14%
    38% 8 $9,160,000 $1,145,000 $9,319 5.94%
    36% 7 $5,125,000 $732,143 $5,891 5.95%
    50-60% 5 $9,995,000 $1,999,000 $24,758 6.25%
    39% 4 $4,970,000 $1,242,500 $7,035 5.88%
    42% 4 $7,560,000 $1,890,000 $12,998 5.84%
    44% 3 $6,825,000 $2,275,000 $10,987 6.04%
    43% 3 $2,045,000 $681,667 $4,883 6.21%
    40% 3 $4,765,000 $1,588,333 $9,219 5.96%
    45% 2 $1,810,000 $905,000 $5,979 5.88%
    49% 1 $1,445,000 $1,445,000 $9,615 5.75%
    41% 1 $875,000 $875,000 $7,236 6.13%

    The Northern Trust Company lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 57 $500,075,000 $8,773,246 $13,445 6.34%
    White 168 $233,910,000 $1,392,321 $9,987 6.04%
    Not provided 13 $33,885,000 $2,606,538 $11,130 6.02%
    Black 1 $6,005,000 $6,005,000 $31,865 5.88%
    Asian 6 $3,800,000 $633,333 $4,197 6.04%

    Approval Rates

    Total approvals of all applications
    92.76%

    The Northern Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.71%

    The Northern Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 245 $777,675,000 $3,174,184

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    245 $777,675,000 $3,174,184

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $34,550,000 $1,151,667 $6,186 5.93%
    40-60% 70 $339,580,000 $4,851,143 $10,491 6.23%
    60-80% 119 $381,015,000 $3,201,807 $12,204 6.06%
    80-100% 18 $11,730,000 $651,667 $5,439 6.30%
    Over 100% 1 $875,000 $875,000 $0 6.25%
    Under 20% 7 $9,925,000 $1,417,857 $8,172 6.03%