The Northern Trust Company Mortgage Rates, Fees & Info
Chicago, ILLEI: 6PTKHDJ8HDUF78PFWH30
Tax ID: 36-1561860
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.94% | 4/26/24 |
| 30 Year Conventional Refi | 5.81% | 4/26/24 |
| 15 Year Conventional Purchase | 5.64% | 4/26/24 |
| 15 Year Conventional Refi | 5.84% | 4/26/24 |
| 15 Year Cash-out Refi | 5.84% | 4/26/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
245Origination Dollar Volume (All Markets)
$777,675,000Awards
The Northern Trust Company - 2023
The Northern Trust Company is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
2023 saw The Northern Trust Company place emphasis on $1MM+ loans with 131 originations, totaling $712,735,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.76%
The Northern Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination85.71%
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 |