Neal Communities Funding Mortgage Rates, Fees & Info

PLANTATION, FL

LEI: 549300NZLFJGIDOXDW97

Tax ID: 47-3963992

5 stars - Updated: 11/3/24 - out of 5 stars, based on 21 reviews

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

Jump to:

Mortgage Data

Review & Overview

Neal Communities Funding is a smaller mortgage company specializing in Home Purchase loans. Neal Communities Funding has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: North Port, Naples, Punta Gorda, and Cape Coral among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Neal Communities Funding 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. Neal Communities Funding 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.80% 11/3/24
30 Year Conventional Refi 6.27% 11/3/24
30 Year FHA Purchase 6.90% 11/3/24
30 Year VA Purchase 5.84% 11/3/24
30 Year USDA Purchase 6.36% 11/3/24
15 Year Conventional Purchase 6.29% 11/3/24
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.

Neal Communities Funding Mortgage Calculator






Your Estimates

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

This is not an official calculator from Neal Communities Funding. 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

448

Origination Dollar Volume (All Markets)

$148,900,000
Show all (5) awards

Relative Rate

Neal Communities Funding's average 30 year fixed mortgage rate was 6.88%.

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

This yields a difference of 0.4%.

Relative Fees (Closing Costs)

Neal Communities Funding's average total fees/closing costs for a 30 year fixed rate mortgage were $6,240.

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
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 387 $129,355,000 $334,251 $6,258 6.85%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 28 $11,170,000 $398,929 $6,254 6.88%
PUNTA GORDA, FL (FHA|USDA|VA) 23 $4,975,000 $216,304 $4,130 6.93%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 10 $3,400,000 $340,000 $7,049 7.02%
Neal Communities Funding's top markets include North Port, Naples, Punta Gorda, and Cape Coral among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    THE MORTGAGE WAREHOUSE,LLC
    Similarity Rank: 825
    Brannen Bank
    Similarity Rank: 858
    READY MORTGAGE LENDERS, LLC
    Similarity Rank: 1014
    Busey Bank
    Similarity Rank: 1026
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1128
    PARK SQUARE HOME MORTGAGE, LLC
    Similarity Rank: 1270
    ACHIEVA CREDIT UNION
    Similarity Rank: 1281
    TrustCo Bank
    Similarity Rank: 1428
    Suncoast Credit Union
    Similarity Rank: 1767

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 388 $124,710,000 $321,418 $5,443 6.94%
    FHA 30 $10,440,000 $348,000 $11,761 6.08%
    VA 30 $13,750,000 $458,333 $9,923 6.63%

    For 2023, Neal Communities Funding's most frequently originated type of loan was Conventional, with 388 originations. Their 2nd most popular type was FHA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 448 $148,900,000 $332,366 $6,166 6.86%

    For 2023, Neal Communities Funding's most frequently cited loan purpose was Home Purchase, with 448 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 437 $146,135,000 $334,405 $6,240 6.88%
    15 Year 9 $2,145,000 $238,333 $3,275 6.29%
    20 Year 2 $620,000 $310,000 $3,062 6.50%

    For 2023, Neal Communities Funding's most frequently cited loan duration was 30 Year, with 437 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 273 $80,485,000 $294,817
    $5k+ 64 $27,870,000 $435,469
    $1k-2k 49 $16,355,000 $333,776
    $4k-5k 26 $10,270,000 $395,000
    $2k-3k 21 $8,645,000 $411,667
    $3k-4k 15 $5,275,000 $351,667

    Neal Communities Funding's average total fees were $6,240, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 273 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 220 $72,200,000 $328,182
    7-8% 153 $52,765,000 $344,869
    5-6% 54 $18,380,000 $340,370
    Over 8% 19 $5,085,000 $267,632
    4-5% 2 $470,000 $235,000

    During 2023, Neal Communities Funding's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 220 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 211 $61,605,000 $291,967 $5,772 6.78%
    $400k-600k 114 $53,380,000 $468,246 $8,613 6.86%
    $100k-200k 89 $12,335,000 $138,596 $2,559 7.00%
    $600k-1MM 31 $21,375,000 $689,516 $10,625 7.02%
    $100,000 or less 3 $205,000 $68,333 $1,874 7.58%

    2023 saw Neal Communities Funding place emphasis on $200k-400k loans with 211 originations, totaling $61,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 145 $47,435,000 $327,138 $6,000 6.89%
    $150k-250k 119 $46,695,000 $392,395 $7,130 6.91%
    $75k-100k 78 $19,590,000 $251,154 $5,615 6.68%
    $250k+ 58 $26,670,000 $459,828 $7,655 6.98%
    $50k-75k 45 $8,225,000 $182,778 $3,475 6.82%
    $50k or less 3 $285,000 $95,000 $1,876 6.96%

    Neal Communities Funding lent most frequently to those with incomes in the $100k-150k range, with 145 originations. The second most popular income band? $150k-250k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $19,405,000 $289,627 $5,546 6.83%
    30-36% 62 $17,810,000 $287,258 $5,017 6.89%
    48% 33 $12,325,000 $373,485 $6,610 6.85%
    46% 27 $9,065,000 $335,741 $5,623 7.10%
    45% 26 $9,220,000 $354,615 $7,073 6.99%
    50-60% 24 $9,140,000 $380,833 $10,877 6.53%
    <20% 24 $7,620,000 $317,500 $5,395 6.96%
    43% 23 $8,015,000 $348,478 $6,693 6.87%
    47% 23 $8,335,000 $362,391 $6,379 6.84%
    49% 22 $7,310,000 $332,273 $4,690 6.86%
    39% 18 $6,800,000 $377,778 $8,665 6.68%
    44% 18 $5,630,000 $312,778 $5,728 6.61%
    37% 16 $4,370,000 $273,125 $5,284 6.97%
    38% 16 $6,050,000 $378,125 $5,686 6.83%
    36% 14 $4,700,000 $335,714 $5,556 6.82%
    42% 13 $4,005,000 $308,077 $4,944 6.99%
    41% 12 $4,830,000 $402,500 $6,904 6.96%
    40% 8 $3,250,000 $406,250 $5,216 7.00%
    >60% 2 $1,020,000 $510,000 $15,202 7.25%

    Neal Communities Funding lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 393 $128,895,000 $327,977 $6,052 6.89%
    Not provided 34 $11,760,000 $345,882 $6,985 6.64%
    Asian 14 $5,350,000 $382,143 $6,488 6.71%
    Black 3 $1,545,000 $515,000 $7,711 6.38%
    American Indian 3 $1,055,000 $351,667 $8,843 7.25%
    Chinese 1 $295,000 $295,000 $5,885 7.50%

    Approval Rates

    Total approvals of all applications
    96.13%

    Neal Communities Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    75.22%

    Neal Communities Funding has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 448 $148,900,000 $332,366

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    448 $148,900,000 $332,366

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $17,775,000 $191,129 $3,346 7.00%
    40-60% 89 $25,435,000 $285,787 $5,445 6.81%
    60-80% 117 $48,715,000 $416,368 $6,840 6.85%
    80-100% 113 $50,915,000 $450,575 $8,820 6.70%
    Over 100% 5 $2,435,000 $487,000 $18,842 6.63%
    Under 20% 31 $3,625,000 $116,935 $2,434 7.29%