Neighborhood Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300I0JGZE27J13Z50
Tax ID: 75-0224670
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Mortgage Data
Review & Overview
Neighborhood is a smaller mortgage company specializing in Home Purchase loans. Neighborhood has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Athens, Kerrville, Gainesville, and Sherman among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Neighborhood has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Neighborhood 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.
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Originations
494Origination Dollar Volume (All Markets)
$64,350,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 490 | $63,520,000 | $129,633 | $108 | 5.27% |
| Athens, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 5.25% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 5.25% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against NEIGHBORHOOD 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 494 | $64,350,000 | $130,263 | $107 | 5.27% |
For 2020, Neighborhood's most frequently originated type of loan was Conventional, with 494 originations.
Loan Reason
For 2020, Neighborhood's most frequently cited loan purpose was Home Purchase, with 471 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.
Loan Duration/Length
For 2020, Neighborhood's most frequently cited loan duration was 15 Year, with 428 originations. The 2nd most popular length was 20 Year, with 48 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 483 | $62,255,000 | $128,892 |
| $1k-2k | 8 | $1,240,000 | $155,000 |
| $2k-3k | 3 | $855,000 | $285,000 |
Neighborhood's average total fees were $3,780, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 483 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 327 | $43,715,000 | $133,685 |
| 4-5% | 141 | $17,245,000 | $122,305 |
| 6-7% | 15 | $1,745,000 | $116,333 |
| 3-4% | 11 | $1,645,000 | $149,545 |
During 2020, Neighborhood's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 5-6%, with 327 originations.
Loan Sizing
2020 saw Neighborhood place emphasis on $100,000 or less loans with 232 originations, totaling $16,280,000 in origination value.
Applicant Income
Neighborhood lent most frequently to those with incomes in the $150k-250k range, with 239 originations. The second most popular income band? $250k+, with 173 originations.
Applicant Debt to Income Ratio
Neighborhood lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 108 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.21%
Neighborhood has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.18%
Neighborhood has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 494 | $64,350,000 | $130,263 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 494 | $64,350,000 | $130,263 |
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% |