Neches Mortgage Rates, Fees & Info
Port Neches, TXLEI: 549300J6A8R0TUC01239
Tax ID: 74-1288128
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Mortgage Data
Review & Overview
Neches is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Neches 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: 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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 | 6.64% | 4/21/24 |
| 30 Year Conventional Refi | 6.49% | 4/21/24 |
| 15 Year Conventional Purchase | 6.24% | 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. | ||
Neches Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
410Origination Dollar Volume (All Markets)
$47,190,000Top 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 |
|---|---|---|---|---|---|
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 377 | $42,235,000 | $112,029 | $0 | 0.00% |
| Outside of Metro Areas | 22 | $3,100,000 | $140,909 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 10 | $1,400,000 | $140,000 | $0 | 0.00% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 406 | $46,700,000 | $115,025 | $0 | 0.00% |
| FHA | 2 | $300,000 | $150,000 | $0 | 0.00% |
| USDA | 2 | $190,000 | $95,000 | $0 | 0.00% |
For 2020, Neches's most frequently originated type of loan was Conventional, with 406 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2020, Neches's most frequently cited loan purpose was Cash Out Refi, with 296 originations. The 2nd most popular reason was Home Purchase, with 88 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 410 | $47,190,000 | $115,098 | $0 | 0.00% |
For 2020, Neches's most frequently cited loan duration was Other, with 410 originations.
Loan Sizing
2020 saw Neches place emphasis on $100,000 or less loans with 217 originations, totaling $13,575,000 in origination value.
Applicant Income
Neches lent most frequently to those with incomes in the $100k-150k range, with 124 originations. The second most popular income band? $50k-75k, with 73 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 410 | $47,190,000 | $115,098 | $0 | 0.00% |
Neches lent most frequently to those with DTI ratios of Exempt%, with 410 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.21%
Neches has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.78%
Neches has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 410 | $47,190,000 | $115,098 |