Northeast Equitable Mortgage Rates, Fees & Info
Blue Bell, PALEI: 549300GJ4HU1Z8P2M254
Tax ID: 45-4767165
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Mortgage Data
Review & Overview
Northeast Equitable Mortgage is a smaller mortgage company specializing in Refi and Home Purchase loans. Northeast Equitable Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, New York, Allentown, Trenton, and Ocean City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Northeast Equitable Mortgage 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. Northeast Equitable Mortgage is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 4/21/24 |
| 30 Year Conventional Refi | 6.87% | 4/21/24 |
| 30 Year Cash-out Refi | 6.93% | 4/21/24 |
| 30 Year FHA Purchase | 7.29% | 4/21/24 |
| 30 Year FHA Refi | 7.72% | 4/21/24 |
| 30 Year VA Purchase | 6.34% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.33% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 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. | ||
Northeast Equitable Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
469Origination Dollar Volume (All Markets)
$157,755,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 410 | $140,300,000 | $342,195 | $5,311 | 3.05% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 18 | $6,430,000 | $357,222 | $4,410 | 3.01% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 14 | $3,170,000 | $226,429 | $4,491 | 3.03% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 9 | $2,755,000 | $306,111 | $5,314 | 3.03% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $4,389 | 2.92% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $4,733 | 3.09% |
| READING, PA (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $6,543 | 3.54% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,632 | 2.63% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,930 | 3.04% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,404 | 2.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,276 | 3.13% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,249 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,832 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Northeast Equitable Mortgage 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
For 2020, Northeast Equitable Mortgage's most frequently originated type of loan was Conventional, with 426 originations. Their 2nd most popular type was FHA, with 20 originations.
Loan Reason
For 2020, Northeast Equitable Mortgage's most frequently cited loan purpose was Refi, with 213 originations. The 2nd most popular reason was Home Purchase, with 207 originations.
Loan Duration/Length
For 2020, Northeast Equitable Mortgage's most frequently cited loan duration was 30 Year, with 390 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
Northeast Equitable Mortgage's average total fees were $5,414, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 393 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 228 | $77,310,000 | $339,079 |
| 3-4% | 192 | $63,730,000 | $331,927 |
| <2.5% | 44 | $15,440,000 | $350,909 |
| 4-5% | 5 | $1,275,000 | $255,000 |
During 2020, Northeast Equitable Mortgage's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 228 originations.
Loan Sizing
2020 saw Northeast Equitable Mortgage place emphasis on $200k-400k loans with 294 originations, totaling $89,490,000 in origination value.
Applicant Income
Northeast Equitable Mortgage lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $150k-250k, with 135 originations.
Applicant Debt to Income Ratio
Northeast Equitable Mortgage lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 91 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.84%
Northeast Equitable Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination75.91%
Northeast Equitable Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 469 | $157,755,000 | $336,365 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 469 | $157,755,000 | $336,365 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |