Neches Mortgage Rates, Fees & Info

Port Neches, TX

LEI: 549300J6A8R0TUC01239

Tax ID: 74-1288128

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Cash Out Refi, 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 above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Neches 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.

    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% 11/21/24
    30 Year Conventional Refi 6.49% 11/21/24
    15 Year Conventional Purchase 6.24% 11/21/24
    15 Year Conventional Refi 5.68% 11/21/24
    15 Year Cash-out Refi 5.68% 11/21/24
    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






    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

    496

    Origination Dollar Volume (All Markets)

    $59,960,000

    Awards

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

    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) 468 $55,740,000 $119,103 $2,834 4.29%
    Outside of Metro Areas 16 $2,190,000 $136,875 $4,170 4.92%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 11 $1,965,000 $178,636 $5,296 3.82%
    Lufkin, TX (FHA|USDA|VA) 1 $65,000 $65,000 $4,404 3.75%
    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.

    EDUCATION FIRST
    Similarity Rank: 115
    NECHES
    Similarity Rank: 184
    MCT Credit Union
    Similarity Rank: 245
    MOBILOIL
    Similarity Rank: 450
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 1088
    Town Square Mortgage & Investments, Inc.
    Similarity Rank: 1530
    First Financial Bank
    Similarity Rank: 1540
    Bank of America
    Similarity Rank: 1670
    HOMETRUST MORTGAGE COMPANY
    Similarity Rank: 2736
    LHM FINANCIAL CORPORATION
    Similarity Rank: 5520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 496 $59,960,000 $120,887 $2,976 4.30%

    For 2021, Neches's most frequently originated type of loan was Conventional, with 496 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 214 $23,910,000 $111,729 $1,093 4.12%
    Other 142 $14,520,000 $102,254 $1,635 3.97%
    Home Purchase 106 $16,150,000 $152,358 $5,366 4.88%
    Refi 34 $5,380,000 $158,235 $4,538 5.03%

    For 2021, Neches's most frequently cited loan purpose was Cash Out Refi, with 214 originations. The 2nd most popular reason was Other, with 142 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 189 $19,685,000 $104,153 $2,273 4.74%
    30 Year 129 $23,595,000 $182,907 $3,637 4.46%
    10 Year 80 $5,520,000 $69,000 $1,242 3.58%
    20 Year 60 $8,060,000 $134,333 $2,313 4.00%
    Other 25 $2,625,000 $105,000 $2,460 3.86%
    5 Year 13 $475,000 $36,538 $0 3.10%

    For 2021, Neches's most frequently cited loan duration was 15 Year, with 189 originations. The 2nd most popular length was 30 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 335 $38,615,000 $115,269
    $1k-2k 30 $2,700,000 $90,000
    $2k-3k 30 $5,510,000 $183,667
    $3k-4k 8 $2,360,000 $295,000
    $4k-5k 3 $1,145,000 $381,667
    $5k+ 2 $1,000,000 $500,000

    Neches's average total fees were $3,637, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 335 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 248 $33,300,000 $134,274
    4-5% 95 $12,485,000 $131,421
    5-6% 85 $8,895,000 $104,647
    2.5-3% 41 $3,125,000 $76,220
    6-7% 22 $1,800,000 $81,818
    Over 8% 5 $355,000 $71,000

    During 2021, Neches's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 3-4%, with 248 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 240 $14,540,000 $60,583 $1,803 4.33%
    $100k-200k 195 $27,615,000 $141,615 $2,743 4.34%
    $200k-400k 53 $13,805,000 $260,472 $4,701 4.10%
    $400k-600k 7 $3,345,000 $477,857 $6,980 4.18%
    $600k-1MM 1 $655,000 $655,000 $5,170 3.25%

    2021 saw Neches place emphasis on $100,000 or less loans with 240 originations, totaling $14,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 125 $14,925,000 $119,400 $2,974 4.17%
    $75k-100k 103 $12,125,000 $117,718 $2,414 4.22%
    $150k-250k 91 $13,305,000 $146,209 $4,257 4.41%
    $50k-75k 81 $8,505,000 $105,000 $2,307 4.40%
    $50k or less 62 $4,720,000 $76,129 $2,543 4.04%
    $250k+ 32 $5,860,000 $183,125 $5,080 4.98%

    Neches lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $75k-100k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 126 $13,370,000 $106,111 $3,778 5.14%
    20-30% 102 $10,380,000 $101,765 $2,231 3.90%
    30-36% 92 $12,670,000 $137,717 $3,411 3.89%
    39% 27 $2,805,000 $103,889 $2,350 4.06%
    43% 24 $2,930,000 $122,083 $2,504 4.15%
    41% 16 $1,990,000 $124,375 $5,200 3.80%
    44% 16 $2,210,000 $138,125 $3,402 4.28%
    40% 15 $1,825,000 $121,667 $2,206 4.27%
    38% 14 $1,820,000 $130,000 $3,860 4.38%
    42% 12 $2,170,000 $180,833 $3,247 4.65%
    37% 12 $2,250,000 $187,500 $5,148 3.98%
    45% 9 $1,115,000 $123,889 $4,283 3.75%
    36% 9 $1,045,000 $116,111 $2,132 4.86%
    46% 7 $1,205,000 $172,143 $2,212 4.14%
    50-60% 4 $540,000 $135,000 $5,077 3.38%
    >60% 3 $355,000 $118,333 $800 3.67%
    49% 1 $155,000 $155,000 $0 4.50%
    48% 1 $175,000 $175,000 $0 3.50%
    47% 1 $75,000 $75,000 $3,189 3.50%

    Neches lent most frequently to those with DTI ratios of <20%, with 126 originations. The next most common DTI ratio? 20-30%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 416 $51,270,000 $123,245 $2,994 4.25%
    Black 56 $5,090,000 $90,893 $2,277 4.66%
    Not provided 12 $2,020,000 $168,333 $4,675 3.96%
    Asian 6 $970,000 $161,667 $7,292 5.04%
    American Indian 3 $355,000 $118,333 $825 4.92%
    Asian Indian 1 $165,000 $165,000 $800 3.50%
    Native Hawaiian or Islander 1 $55,000 $55,000 $0 4.25%
    1 $35,000 $35,000 $0 3.00%

    Approval Rates

    Total approvals of all applications
    90.05%

    Neches has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.34%

    Neches has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 496 $59,960,000 $120,887

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    496 $59,960,000 $120,887

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $3,755,000 $68,273 $1,966 4.15%
    40-60% 73 $7,305,000 $100,068 $1,849 4.16%
    60-80% 203 $27,365,000 $134,803 $2,206 4.37%
    80-100% 124 $19,960,000 $160,968 $4,524 4.50%
    Under 20% 41 $1,575,000 $38,415 $994 3.85%