Neal Communities Funding Mortgage Rates, Fees & Info
PLANTATION, FLLEI: 549300NZLFJGIDOXDW97
Tax ID: 47-3963992
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Mortgage Data
Review & Overview
Neal Communities Funding is a smaller mortgage company specializing in loans. Neal Communities Funding 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.) Their top markets by origination volume include: North Port, Cape Coral, Naples, and Punta Gorda 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.47% | 3/19/23 |
| 30 Year FHA Purchase | 7.09% | 3/19/23 |
| 30 Year VA Purchase | 6.76% | 3/19/23 |
| 30 Year USDA Refi | 6.27% | 3/19/23 |
| 15 Year Conventional Purchase | 6.05% | 3/19/23 |
| 15 Year Conventional Refi | 5.68% | 3/19/23 |
| 15 Year Cash-out Refi | 5.68% | 3/19/23 |
| 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. | ||
Originations
522Origination Dollar Volume (All Markets)
$155,760,000Awards
NEAL COMMUNITIES FUNDING - 2021
NEAL COMMUNITIES FUNDING is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Neal Communities Funding's average 30 year fixed mortgage rate was
3.06%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Neal Communities Funding's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,739.
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 |
|---|---|---|---|---|---|
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 431 | $129,935,000 | $301,473 | $5,731 | 3.01% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 45 | $13,235,000 | $294,111 | $5,196 | 2.98% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 43 | $12,095,000 | $281,279 | $5,224 | 3.16% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,838 | 3.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 497 | $147,985,000 | $297,757 | $5,399 | 3.03% |
| FHA | 24 | $7,340,000 | $305,833 | $10,445 | 2.81% |
| VA | 1 | $435,000 | $435,000 | $5,833 | 3.63% |
For 2021, Neal Communities Funding's most frequently originated type of loan was Conventional, with 497 originations. Their 2nd most popular type was FHA, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 522 | $155,760,000 | $298,391 | $5,632 | 3.02% |
For 2021, Neal Communities Funding's most frequently cited loan purpose was Home Purchase, with 522 originations.
Loan Duration/Length
For 2021, Neal Communities Funding's most frequently cited loan duration was 30 Year, with 471 originations. The 2nd most popular length was 15 Year, with 42 originations.
Origination Fees/Closing Costs
Neal Communities Funding's average total fees were $5,739, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 351 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 251 | $76,885,000 | $306,315 |
| 3-4% | 228 | $66,070,000 | $289,781 |
| <2.5% | 38 | $11,270,000 | $296,579 |
| 4-5% | 5 | $1,535,000 | $307,000 |
During 2021, Neal Communities Funding's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 251 originations.
Loan Sizing
2021 saw Neal Communities Funding place emphasis on $200k-400k loans with 384 originations, totaling $113,640,000 in origination value.
Applicant Income
Neal Communities Funding lent most frequently to those with incomes in the $100k-150k range, with 150 originations. The second most popular income band? $50k-75k, with 110 originations.
Applicant Debt to Income Ratio
Neal Communities Funding lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.77%
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 origination83.91%
Neal Communities Funding has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 522 | $155,760,000 | $298,391 |