Northern Home Loans, LLC Mortgage Lending & HMDA Data, 2024
In 2024, Northern Home Loans, LLC of Woburn, MA reported 244 mortgage applications totaling $140.1 million, up 36% from 2023. The average application was for $574,303, and applicants reported an average income of $297,713. 61% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (126), Boston, MA (22) and Rockingham County-Strafford County, NH (9) (applications in parentheses).
| Mortgage Company & Address | Northern Home Loans, LLC Woburn, MA 01801 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 |
| Total Number of Mortgage Applications | 244 |
| Total Mortgage Loan Application Amount | $140,130,000 |
| Average Mortgage Loan Application Amount | $574,303 |
| Highest Mortgage Loan Application Amount | $18,705,000 |
| Average Applicant Income | $297,713 |
| Highest Applicant Income | $4,303,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Northern Home Loans, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Middlesex, Massachusetts | 113 | $ 40,065,000 | $ 354,557 | $ 246,000 |
| Essex, Massachusetts | 13 | $ 4,325,000 | $ 332,692 | $ 171,000 |
| Suffolk, Massachusetts | 12 | $ 30,200,000 | $ 2,516,666 | $ 890,000 |
| Hillsborough, New Hampshire | 8 | $ 4,430,000 | $ 553,750 | $ 238,000 |
| Rockingham, New Hampshire | 8 | $ 2,640,000 | $ 330,000 | $ 167,000 |
| Norfolk, Massachusetts | 7 | $ 3,935,000 | $ 562,142 | $ 228,000 |
| Barnstable, Massachusetts | 4 | $ 2,620,000 | $ 655,000 | $ 489,000 |
| Plymouth, Massachusetts | 3 | $ 845,000 | $ 281,666 | $ 156,000 |
| Worcester, Massachusetts | 3 | $ 1,715,000 | $ 571,666 | $ 282,000 |
| Dukes, Massachusetts | 2 | $ 1,910,000 | $ 955,000 | $ 535,000 |
| Hampden, Massachusetts | 2 | $ 510,000 | $ 255,000 | $ 291,000 |
| Grafton, New Hampshire | 2 | $ 640,000 | $ 320,000 | $ 159,000 |
| Western Connecticut Planning Region, Connecticut | 1 | $ 715,000 | $ 715,000 | $ 250,000 |
| Indian River, Florida | 1 | $ 435,000 | $ 435,000 | $ 0 |
| Miami-Dade, Florida | 1 | $ 6,165,000 | $ 6,165,000 | $ 4,303,000 |
| Pinellas, Florida | 1 | $ 345,000 | $ 345,000 | $ 270,000 |
| Bristol, Massachusetts | 1 | $ 255,000 | $ 255,000 | $ 473,000 |
| Nantucket, Massachusetts | 1 | $ 2,505,000 | $ 2,505,000 | $ 890,000 |
| Carroll, New Hampshire | 1 | $ 505,000 | $ 505,000 | $ 699,000 |
| Merrimack, New Hampshire | 1 | $ 515,000 | $ 515,000 | $ 121,000 |
| Strafford, New Hampshire | 1 | $ 1,695,000 | $ 1,695,000 | $ 1,417,000 |
Mortgage Loan Application Detail Totals for Northern Home Loans, LLC in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 142 | $111,380,000 | $784,000 | $18,705,000 | $351,000 | $4,303,000 |
| Other Purpose | 34 | $6,350,000 | $186,000 | $945,000 | $246,000 | $2,101,000 |
| Cash-out Refinancing | 30 | $12,660,000 | $422,000 | $1,505,000 | $185,000 | $579,000 |
| Home Improvement | 29 | $5,885,000 | $202,000 | $1,505,000 | $222,000 | $768,000 |
| Refinancing | 9 | $3,855,000 | $428,000 | $1,265,000 | $272,000 | $1,225,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 184 | $113,830,000 | $618,000 | $18,705,000 | $336,000 | $4,303,000 |
| Asian | 30 | $11,580,000 | $386,000 | $1,265,000 | $192,000 | $1,225,000 |
| Not Provided | 13 | $5,615,000 | $431,000 | $1,005,000 | $162,000 | $380,000 |
| Hispanic | 9 | $3,475,000 | $386,000 | $765,000 | $149,000 | $232,000 |
| Black or African American | 7 | $5,075,000 | $725,000 | $1,045,000 | $262,000 | $445,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $555,000 | $555,000 | $555,000 | $147,000 | $147,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 244 | $140,130,000 | $574,000 | $18,705,000 | $298,000 | $4,303,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 149 | $91,255,000 | $612,000 | $18,705,000 | $344,000 | $4,303,000 |
| Preapproval Approved but not Accepted | 56 | $32,330,000 | $577,000 | $1,365,000 | $236,000 | $936,000 |
| Application Denied By Financial Institution | 21 | $10,945,000 | $521,000 | $3,565,000 | $240,000 | $1,139,000 |
| Application Withdrawn By Applicant | 8 | $2,590,000 | $323,000 | $555,000 | $150,000 | $270,000 |
| File Closed For Incompleteness | 4 | $970,000 | $242,000 | $505,000 | $280,000 | $620,000 |
| Application Approved But Not Accepted | 4 | $1,210,000 | $302,000 | $965,000 | $192,000 | $380,000 |
| Preapproval Denied by Financial Institution | 2 | $830,000 | $415,000 | $525,000 | $150,000 | $172,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 221 | $128,355,000 | $580,000 | $18,705,000 | $305,000 | $4,303,000 |
| Other | 8 | $2,650,000 | $331,000 | $675,000 | $162,000 | $299,000 |
| Credit History | 6 | $2,480,000 | $413,000 | $1,505,000 | $210,000 | $579,000 |
| Debt-To-Income Ratio | 6 | $2,510,000 | $418,000 | $1,005,000 | $102,000 | $157,000 |
| Collateral | 2 | $570,000 | $285,000 | $505,000 | $451,000 | $699,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $3,565,000 | $3,565,000 | $3,565,000 | $1,139,000 | $1,139,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Northern Home Loans, LLC's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Northern Home Loans, LLC's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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