Neches Mortgage Rates, Fees & Info

Port Neches, TX

LEI: 549300J6A8R0TUC01239

Tax ID: 74-1288128

3.9 stars - Updated: 9/25/23 - out of 5 stars, based on 22 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Neches is a smaller mortgage company specializing in Other and Home Purchase loans. Neches has a high proportion of conventional loans. Their top markets by origination volume include: Beaumont, Houston, and Lufkin among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Neches has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Neches 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 relatively high 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 6.64% 9/25/23
    30 Year Conventional Refi 6.49% 9/25/23
    15 Year Conventional Purchase 6.24% 9/25/23
    15 Year Conventional Refi 5.68% 9/25/23
    15 Year Cash-out Refi 5.68% 9/25/23
    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.

    Neches Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Neches. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    493

    Origination Dollar Volume (All Markets)

    $62,885,000

    Awards

    NECHES 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Neches's average 30 year fixed mortgage rate was 5.27%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.51%.

    Relative Fees (Closing Costs)

    Neches's average total fees/closing costs for a 30 year fixed rate mortgage were $6,020.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 455 $55,955,000 $122,978 $5,724 5.13%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 19 $3,595,000 $189,211 $7,470 5.16%
    Outside of Metro Areas 18 $3,020,000 $167,778 $6,127 4.90%
    Lufkin, TX (FHA|USDA|VA) 1 $315,000 $315,000 $0 5.00%
    Neches's top markets include Beaumont, Houston, and Lufkin among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against NECHES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NECHES
    Similarity Rank: 184
    EDUCATION FIRST
    Similarity Rank: 184
    MCT Credit Union
    Similarity Rank: 280
    MOBILOIL
    Similarity Rank: 450
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 731
    First Financial Bank
    Similarity Rank: 1360
    Bank of America
    Similarity Rank: 1600
    Town Square Mortgage & Investments, Inc.
    Similarity Rank: 2040
    HOMETRUST MORTGAGE COMPANY
    Similarity Rank: 2112
    LHM FINANCIAL CORPORATION
    Similarity Rank: 4160

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 493 $62,885,000 $127,556 $5,893 5.12%

    For 2022, Neches's most frequently originated type of loan was Conventional, with 493 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 337 $38,945,000 $115,564 $3,432 4.79%
    Home Purchase 93 $17,225,000 $185,215 $6,031 5.72%
    Cash Out Refi 58 $5,910,000 $101,897 $0 6.16%
    Refi 5 $805,000 $161,000 $2,296 4.80%

    For 2022, Neches's most frequently cited loan purpose was Other, with 337 originations. The 2nd most popular reason was Home Purchase, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 199 $20,255,000 $101,784 $5,984 5.37%
    30 Year 150 $28,510,000 $190,067 $6,020 5.27%
    20 Year 80 $10,020,000 $125,250 $4,942 4.98%
    10 Year 42 $2,800,000 $66,667 $0 4.18%
    Other 12 $800,000 $66,667 $3,432 4.13%
    5 Year 10 $500,000 $50,000 $0 4.38%

    For 2022, Neches's most frequently cited loan duration was 15 Year, with 199 originations. The 2nd most popular length was 30 Year, with 150 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 343 $39,835,000 $116,137
    $1k-2k 22 $2,120,000 $96,364
    $2k-3k 20 $3,540,000 $177,000
    $3k-4k 17 $4,695,000 $276,176
    $4k-5k 4 $1,480,000 $370,000
    $5k+ 4 $2,170,000 $542,500

    Neches's average total fees were $6,020, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 343 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 134 $17,940,000 $133,881
    4-5% 128 $17,560,000 $137,188
    3-4% 119 $15,405,000 $129,454
    6-7% 73 $8,525,000 $116,781
    7-8% 16 $1,630,000 $101,875
    2.5-3% 13 $935,000 $71,923
    Over 8% 10 $890,000 $89,000

    During 2022, Neches's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 5-6%, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 228 $14,150,000 $62,061 $4,100 5.24%
    $100k-200k 176 $23,770,000 $135,057 $5,039 5.01%
    $200k-400k 79 $19,955,000 $252,595 $6,735 4.99%
    $400k-600k 9 $4,375,000 $486,111 $10,909 5.47%
    $600k-1MM 1 $635,000 $635,000 $12,224 6.00%

    2022 saw Neches place emphasis on $100,000 or less loans with 228 originations, totaling $14,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 120 $15,980,000 $133,167 $6,230 5.14%
    $75k-100k 106 $12,110,000 $114,245 $5,499 4.94%
    $50k-75k 99 $10,375,000 $104,798 $4,894 4.99%
    $150k-250k 92 $15,670,000 $170,326 $7,068 5.43%
    $50k or less 57 $4,865,000 $85,351 $4,349 5.04%
    $250k+ 19 $3,885,000 $204,474 $10,626 5.54%

    Neches lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $75k-100k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 128 $13,920,000 $108,750 $5,605 5.72%
    20-30% 113 $13,275,000 $117,478 $5,133 4.70%
    30-36% 79 $10,455,000 $132,342 $6,500 4.78%
    43% 25 $3,685,000 $147,400 $5,382 5.05%
    37% 20 $3,050,000 $152,500 $4,881 4.99%
    42% 18 $2,530,000 $140,556 $7,270 4.64%
    36% 17 $2,355,000 $138,529 $5,508 4.90%
    39% 15 $2,115,000 $141,000 $4,673 4.35%
    41% 15 $2,335,000 $155,667 $6,541 5.51%
    44% 15 $2,795,000 $186,333 $8,276 5.28%
    40% 12 $1,620,000 $135,000 $5,777 5.85%
    38% 12 $1,230,000 $102,500 $0 5.42%
    45% 6 $570,000 $95,000 $5,630 5.00%
    48% 5 $525,000 $105,000 $3,839 5.85%
    46% 4 $600,000 $150,000 $6,931 6.25%
    50-60% 4 $980,000 $245,000 $11,607 5.94%
    47% 3 $225,000 $75,000 $0 3.83%
    49% 1 $235,000 $235,000 $0 6.25%
    >60% 1 $385,000 $385,000 $0 3.75%

    Neches lent most frequently to those with DTI ratios of <20%, with 128 originations. The next most common DTI ratio? 20-30%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $54,085,000 $132,887 $5,931 5.01%
    Black 51 $5,355,000 $105,000 $6,426 5.84%
    Asian 12 $1,610,000 $134,167 $4,707 5.54%
    Not provided 18 $1,400,000 $77,778 $5,076 5.63%
    Other Pacific Islander 1 $145,000 $145,000 $0 3.75%
    Other Asian 1 $105,000 $105,000 $4,605 4.25%
    American Indian 2 $100,000 $50,000 $0 5.00%
    Asian Indian 1 $85,000 $85,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    85.74%

    Neches has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.70%

    Neches has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 493 $62,885,000 $127,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    493 $62,885,000 $127,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 69 $5,085,000 $73,696 $3,942 4.89%
    40-60% 77 $7,465,000 $96,948 $5,651 4.86%
    60-80% 184 $27,850,000 $151,359 $5,373 5.10%
    80-100% 127 $21,145,000 $166,496 $6,075 5.43%
    Under 20% 36 $1,340,000 $37,222 $0 5.16%