Neighborhood Loans Mortgage Rates, Fees & Info
Des Plaines, ILLEI: 254900O723MCLR701H50
Tax ID: 20-2408098
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Mortgage Data
Review & Overview
Neighborhood Loans is a small mortgage company specializing in Home Purchase and Refi loans. Neighborhood Loans 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: Chicago, Grand Rapids, Phoenix, Hobbs, and Prescott Valley among others. We have data for 105 markets. (Some data included below & more in-depth data is available with an active subscription.)Neighborhood Loans 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. Neighborhood Loans is typically a low 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.85% | 12/17/24 |
| 30 Year Conventional Refi | 6.79% | 12/17/24 |
| 30 Year Cash-out Refi | 7.03% | 12/17/24 |
| 30 Year FHA Purchase | 7.70% | 12/17/24 |
| 30 Year FHA Refi | 7.28% | 12/17/24 |
| 30 Year VA Purchase | 6.59% | 12/17/24 |
| 30 Year VA Refi | 6.50% | 12/17/24 |
| 30 Year USDA Purchase | 7.03% | 12/17/24 |
| 30 Year USDA Refi | 6.84% | 12/17/24 |
| 15 Year Conventional Purchase | 6.34% | 12/17/24 |
| 15 Year Conventional Refi | 6.26% | 12/17/24 |
| 15 Year Cash-out Refi | 6.26% | 12/17/24 |
| 15 Year FHA Purchase | 7.26% | 12/17/24 |
| 15 Year VA Refi | 5.68% | 12/17/24 |
| 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. | ||
Neighborhood Loans Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
9,006Origination Dollar Volume (All Markets)
$2,015,220,000Awards
Neighborhood Loans - 2020
Neighborhood Loans is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4,814 | $1,117,020,000 | $232,036 | $4,806 | 3.21% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2,222 | $459,840,000 | $206,949 | $3,128 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 715 | $181,165,000 | $253,378 | $4,746 | 3.10% |
| Outside of Metro Areas | 257 | $43,135,000 | $167,840 | $3,340 | 3.28% |
| Hobbs, NM (FHA|USDA|VA) | 116 | $24,810,000 | $213,879 | $6,298 | 3.44% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 80 | $20,920,000 | $261,500 | $3,822 | 3.09% |
| Holland, MI (FHA|USDA|VA) | 97 | $20,195,000 | $208,196 | $3,791 | 3.21% |
| MUSKEGON, MI (FHA|USDA|VA) | 73 | $11,835,000 | $162,123 | $3,369 | 3.34% |
| Big Rapids, MI (FHA|USDA|VA) | 66 | $10,910,000 | $165,303 | $2,909 | 3.40% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 22 | $10,280,000 | $467,273 | $4,312 | 3.03% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 72 | $10,260,000 | $142,500 | $3,354 | 3.21% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 41 | $7,985,000 | $194,756 | $2,940 | 3.38% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 45 | $6,995,000 | $155,444 | $3,058 | 3.37% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 29 | $4,955,000 | $170,862 | $3,094 | 3.34% |
| Traverse City, MI (FHA|USDA|VA) | 18 | $4,420,000 | $245,556 | $3,426 | 3.23% |
| ROCKFORD, IL (FHA|USDA|VA) | 23 | $3,885,000 | $168,913 | $3,867 | 3.36% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 11 | $3,625,000 | $329,545 | $4,956 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 6 | $3,460,000 | $576,667 | $7,122 | 3.19% |
| SALINAS, CA (FHA|USDA|VA) | 8 | $2,800,000 | $350,000 | $3,214 | 3.19% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 11 | $2,795,000 | $254,091 | $4,599 | 3.43% |
| Ludington, MI (FHA|USDA|VA) | 13 | $2,565,000 | $197,308 | $3,294 | 3.13% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $2,335,000 | $333,571 | $4,142 | 3.29% |
| PEORIA, IL (FHA|USDA|VA) | 11 | $2,195,000 | $199,545 | $3,364 | 3.06% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $2,170,000 | $542,500 | $5,789 | 3.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,960,000 | $326,667 | $6,221 | 3.25% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 9 | $1,885,000 | $209,444 | $2,483 | 3.14% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,810,000 | $301,667 | $2,788 | 3.08% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 6 | $1,800,000 | $300,000 | $4,067 | 3.04% |
| KANKAKEE, IL (FHA|USDA|VA) | 11 | $1,655,000 | $150,455 | $3,640 | 3.28% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $6,299 | 2.73% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $1,610,000 | $805,000 | $4,133 | 2.94% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $4,703 | 3.08% |
| Whitewater, WI (FHA|USDA|VA) | 5 | $1,435,000 | $287,000 | $3,036 | 2.93% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $1,435,000 | $205,000 | $4,901 | 3.27% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $3,998 | 3.16% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $6,477 | 2.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $3,111 | 2.96% |
| Show Low, AZ (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $5,217 | 2.90% |
| NILES, MI (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $3,901 | 3.27% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 6 | $1,220,000 | $203,333 | $3,120 | 3.21% |
| Cadillac, MI (FHA|USDA|VA) | 9 | $1,205,000 | $133,889 | $2,327 | 3.15% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,170,000 | $585,000 | $6,798 | 3.13% |
| YUMA, AZ (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $4,598 | 2.96% |
| Payson, AZ (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $5,006 | 2.67% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $2,662 | 3.28% |
| JACKSON, MI (FHA|USDA|VA) | 6 | $930,000 | $155,000 | $4,155 | 2.96% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $4,257 | 3.09% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $6,840 | 2.44% |
| RACINE, WI (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $2,767 | 2.96% |
| TUCSON, AZ (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $4,366 | 2.83% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $5,452 | 3.13% |
| Mount Pleasant, MI (FHA|USDA|VA) | 6 | $820,000 | $136,667 | $2,977 | 3.38% |
| Sturgis, MI (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $2,438 | 2.88% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,819 | 3.13% |
| Ottawa, IL (FHA|USDA|VA) | 6 | $750,000 | $125,000 | $4,596 | 3.19% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,853 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $3,757 | 3.08% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,769 | 2.94% |
| Coldwater, MI (FHA|USDA|VA) | 6 | $640,000 | $106,667 | $2,915 | 3.50% |
| MERCED, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $6,689 | 3.38% |
| MIDLAND, MI (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $2,582 | 3.58% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $4,626 | 3.21% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,339 | 2.69% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $2,784 | 2.91% |
| Alma, MI (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $4,665 | 4.28% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $3,472 | 3.13% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $8,010 | 3.13% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,749 | 3.50% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $4,108 | 3.04% |
| FLINT, MI (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,314 | 3.06% |
| Sterling, IL (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,124 | 2.81% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,579 | 3.44% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,712 | 3.56% |
| Rochelle, IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,284 | 2.94% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $2,682 | 2.88% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,212 | 3.13% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,452 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,341 | 3.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,260 | 2.75% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,226 | 3.81% |
| OCALA, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,654 | 2.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,422 | 3.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,073 | 3.00% |
| MONROE, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,486 | 3.38% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,668 | 2.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,212 | 3.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,842 | 3.00% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,506 | 3.13% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,076 | 3.38% |
| Mount Vernon, IL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,683 | 2.63% |
| Roswell, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,604 | 3.38% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,043 | 3.13% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,256 | 2.75% |
| Dixon, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,145 | 2.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,314 | 3.13% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,568 | 3.63% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,644 | 3.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,662 | 2.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.88% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,100 | 3.63% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,945 | 2.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,687 | 2.88% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,920 | 3.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,103 | 2.63% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,940 | 3.50% |
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Product Mix
For 2020, Neighborhood Loans's most frequently originated type of loan was Conventional, with 7,251 originations. Their 2nd most popular type was FHA, with 1,446 originations.
Loan Reason
For 2020, Neighborhood Loans's most frequently cited loan purpose was Home Purchase, with 4,837 originations. The 2nd most popular reason was Refi, with 3,281 originations.
Loan Duration/Length
For 2020, Neighborhood Loans's most frequently cited loan duration was 30 Year, with 7,375 originations. The 2nd most popular length was 15 Year, with 781 originations.
Origination Fees/Closing Costs
Neighborhood Loans's average total fees were $4,665, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 6,946 originations.
Interest Rates
During 2020, Neighborhood Loans's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 4,197 originations.
Loan Sizing
2020 saw Neighborhood Loans place emphasis on $200k-400k loans with 4,272 originations, totaling $1,160,630,000 in origination value.
Applicant Income
Neighborhood Loans lent most frequently to those with incomes in the $50k-75k range, with 2,517 originations. The second most popular income band? $50k or less, with 1,843 originations.
Applicant Debt to Income Ratio
Neighborhood Loans lent most frequently to those with DTI ratios of 20-30%, with 1,877 originations. The next most common DTI ratio? 30-36%, with 1,669 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.62%
Neighborhood Loans has a below average approval rate.
Pick Rate
Approvals leading to origination89.61%
Neighborhood Loans has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9,006 | $2,015,220,000 | $223,764 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 75 | $11,095,000 | $147,933 |
| Single Family (1-4 Units):Site-Built | 8,931 | $2,004,125,000 | $224,401 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Neighborhoods United, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |