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 Home Purchase and Refi 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 17 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% | 12/16/24 |
| 30 Year Conventional Refi | 6.87% | 12/16/24 |
| 30 Year Cash-out Refi | 6.93% | 12/16/24 |
| 30 Year FHA Purchase | 7.29% | 12/16/24 |
| 30 Year FHA Refi | 7.72% | 12/16/24 |
| 30 Year VA Purchase | 6.34% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.33% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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
310Origination Dollar Volume (All Markets)
$109,620,000Top 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) | 273 | $97,765,000 | $358,114 | $5,730 | 2.95% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $2,490,000 | $415,000 | $4,223 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 7 | $1,725,000 | $246,429 | $4,707 | 3.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $4,782 | 2.96% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $4,662 | 3.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $4,768 | 3.04% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $5,378 | 3.00% |
| READING, PA (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $5,538 | 3.04% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,874 | 2.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,976 | 3.19% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,714 | 2.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,931 | 3.25% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,334 | 3.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,767 | 3.25% |
| Outside of Metro Areas | 1 | $135,000 | $135,000 | $6,034 | 3.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,907 | 3.00% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,797 | 3.00% |
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 2021, Northeast Equitable Mortgage's most frequently originated type of loan was Conventional, with 289 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2021, Northeast Equitable Mortgage's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 91 originations.
Loan Duration/Length
For 2021, Northeast Equitable Mortgage's most frequently cited loan duration was 30 Year, with 264 originations. The 2nd most popular length was 15 Year, with 31 originations.
Origination Fees/Closing Costs
Northeast Equitable Mortgage's average total fees were $5,779, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 242 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 149 | $56,435,000 | $378,758 |
| 3-4% | 119 | $38,255,000 | $321,471 |
| <2.5% | 41 | $14,425,000 | $351,829 |
| 4-5% | 1 | $505,000 | $505,000 |
During 2021, Northeast Equitable Mortgage's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 149 originations.
Loan Sizing
2021 saw Northeast Equitable Mortgage place emphasis on $200k-400k loans with 166 originations, totaling $49,180,000 in origination value.
Applicant Income
Northeast Equitable Mortgage lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $150k-250k, with 90 originations.
Applicant Debt to Income Ratio
Northeast Equitable Mortgage lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.53%
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 origination72.58%
Northeast Equitable Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $65,000 | $65,000 |
| NA | 309 | $109,555,000 | $354,547 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Struggling to pay mortgage | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Trouble during payment process | 5 | 55.6% |
| NORTHWEST BANCSHARES INC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Other type of mortgage | Struggling to pay mortgage | 1 | 11.1% |