Is Northeast Home Loan LLC. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Northeast Home Loan LLC. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: higher than average (+$777)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Northeast Home Loan LLC. originated 730 mortgages, a national market share of 0.0%. It was most active in VT (4.5% market share), ME (0.3% market share), and NH (0.1% market share).

On average, Northeast Home Loan LLC.’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Northeast Home Loan LLC.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $4537, which was higher than those of comparable mortgages at $3760, with a difference of +$777. Overall, we estimate that Northeast Home Loan LLC. tends to be an average cost lender, with a cost-adjusted-rate difference of +0.00% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Northeast Home Loan LLC..

Northeast Home Loan LLC. originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Northeast Home Loan LLC. compared to other lenders

Conforming
Interest Rate Difference -0.04%
Loan related Closing Cost Difference +$865
Cost Adjusted Rate Difference +0.01%

Based on the table above, Northeast Home Loan LLC. is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Northeast Home Loan LLC. compared to other lenders

Conforming
Interest Rate Difference -0.04%
Loan Related Closing Cost Difference +$429
Cost Adjusted Rate Difference -0.02%

Based on the table above, Northeast Home Loan LLC. is similar to other lenders for Conforming mortgage refinance.

Other information about Northeast Home Loan LLC.:

Regulator: Federal Deposit Insurance Corporation (FDIC) 
Top holder: PASSUMPSIC BANCORP
Registered city and state: West Chesterfield, NH, 03466

Footnotes   [ + ]

1. The comparable mortgages control for Northeast Home Loan LLC.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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