Neches Mortgage Rates, Fees & Info

Port Neches, TX

LEI: 549300J6A8R0TUC01239

Tax ID: 74-1288128

5 stars - Updated: 7/20/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

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, College Station, Lufkin, and Nacogdoches among others. We have data for 6 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% 7/20/24
30 Year Conventional Refi 6.49% 7/20/24
15 Year Conventional Purchase 6.24% 7/20/24
15 Year Conventional Refi 5.68% 7/20/24
15 Year Cash-out Refi 5.68% 7/20/24
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.

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

492

Origination Dollar Volume (All Markets)

$58,780,000

Relative Rate

Neches's average 30 year fixed mortgage rate was 6.82%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.34%.

Relative Fees (Closing Costs)

Neches's average total fees/closing costs for a 30 year fixed rate mortgage were $6,611.

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 $9,089.

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 $51,645,000 $113,505 $6,160 6.66%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 19 $3,745,000 $197,105 $7,851 6.57%
Outside of Metro Areas 15 $2,915,000 $194,333 $8,941 6.64%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,977 6.25%
Lufkin, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,553 6.90%
Nacogdoches, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.00%
Neches's top markets include Beaumont, Houston, College Station, Lufkin, and Nacogdoches among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 492 $58,780,000 $119,472 $6,473 6.66%

    For 2023, Neches's most frequently originated type of loan was Conventional, with 492 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 297 $28,835,000 $97,088 $3,362 6.35%
    Home Purchase 128 $22,270,000 $173,984 $6,698 6.97%
    Cash Out Refi 62 $7,100,000 $114,516 $0 7.47%
    Refi 5 $575,000 $115,000 $3,416 6.73%

    For 2023, Neches's most frequently cited loan purpose was Other, with 297 originations. The 2nd most popular reason was Home Purchase, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 184 $16,520,000 $89,783 $5,588 6.83%
    30 Year 138 $27,950,000 $202,536 $6,611 6.82%
    20 Year 75 $7,635,000 $101,800 $7,182 6.81%
    10 Year 56 $3,170,000 $56,607 $0 5.76%
    Other 20 $2,660,000 $133,000 $4,382 7.31%
    5 Year 18 $820,000 $45,556 $0 5.10%
    3 Year 1 $25,000 $25,000 $0 6.00%

    For 2023, Neches's most frequently cited loan duration was 15 Year, with 184 originations. The 2nd most popular length was 30 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 305 $30,005,000 $98,377
    $3k-4k 25 $7,005,000 $280,200
    $2k-3k 21 $4,245,000 $202,143
    $1k-2k 14 $1,450,000 $103,571
    $4k-5k 6 $2,240,000 $373,333
    $5k+ 4 $2,060,000 $515,000

    Neches's average total fees were $6,611, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 305 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 174 $27,140,000 $155,977
    7-8% 142 $15,150,000 $106,690
    5-6% 139 $13,305,000 $95,719
    Over 8% 23 $2,125,000 $92,391
    4-5% 14 $1,060,000 $75,714

    During 2023, Neches's average interest rate for loans was 6.82%, while their most frequently originated rate bucket for loans was 6-7%, with 174 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 274 $16,410,000 $59,891 $3,986 6.63%
    $100k-200k 140 $19,050,000 $136,071 $5,131 6.76%
    $200k-400k 69 $18,775,000 $272,101 $6,969 6.57%
    $400k-600k 7 $3,215,000 $459,286 $10,095 6.71%
    $600k-1MM 2 $1,330,000 $665,000 $13,870 6.25%

    2023 saw Neches place emphasis on $100,000 or less loans with 274 originations, totaling $16,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 127 $15,985,000 $125,866 $6,604 6.74%
    $150k-250k 103 $15,445,000 $149,951 $6,782 6.72%
    $50k-75k 89 $8,295,000 $93,202 $4,731 6.35%
    $75k-100k 69 $7,345,000 $106,449 $5,664 6.70%
    $250k+ 53 $7,495,000 $141,415 $10,423 6.82%
    $50k or less 49 $3,465,000 $70,714 $4,752 6.62%

    Neches lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 153 $14,725,000 $96,242 $5,310 7.01%
    30-36% 87 $11,805,000 $135,690 $6,538 6.61%
    20-30% 79 $9,225,000 $116,772 $6,607 6.15%
    42% 25 $2,795,000 $111,800 $6,101 6.44%
    39% 21 $2,705,000 $128,810 $5,856 6.58%
    43% 20 $2,630,000 $131,500 $5,723 6.11%
    41% 19 $2,795,000 $147,105 $6,696 6.43%
    38% 17 $2,305,000 $135,588 $7,957 6.99%
    37% 14 $1,680,000 $120,000 $6,111 6.48%
    44% 13 $1,645,000 $126,538 $5,968 6.75%
    36% 11 $1,265,000 $115,000 $6,520 6.45%
    40% 10 $1,040,000 $104,000 $5,541 7.70%
    45% 6 $570,000 $95,000 $6,121 7.15%
    48% 5 $605,000 $121,000 $0 6.70%
    50-60% 4 $830,000 $207,500 $8,153 7.08%
    >60% 2 $660,000 $330,000 $0 6.38%
    47% 2 $170,000 $85,000 $0 6.00%
    49% 2 $590,000 $295,000 $12,103 6.25%
    46% 1 $55,000 $55,000 $0 6.75%

    Neches lent most frequently to those with DTI ratios of <20%, with 153 originations. The next most common DTI ratio? 30-36%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 399 $48,875,000 $122,494 $6,660 6.62%
    Black 49 $3,995,000 $81,531 $6,495 7.05%
    Not provided 25 $3,255,000 $130,200 $4,982 6.72%
    Asian 13 $2,075,000 $159,615 $6,355 6.43%
    American Indian 3 $225,000 $75,000 $4,425 6.50%
    Other Pacific Islander 1 $155,000 $155,000 $0 5.25%
    Asian Indian 1 $145,000 $145,000 $0 5.50%
    Other Asian 1 $55,000 $55,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    82.37%

    Neches has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.68%

    Neches has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 492 $58,780,000 $119,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    492 $58,780,000 $119,472

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 96 $7,260,000 $75,625 $4,138 6.38%
    40-60% 70 $7,540,000 $107,714 $4,026 6.68%
    60-80% 165 $22,155,000 $134,273 $6,743 6.96%
    80-100% 106 $19,690,000 $185,755 $6,656 6.72%
    Under 20% 55 $2,135,000 $38,818 $0 6.10%