Neal Communities Funding Mortgage Rates, Fees & Info

PLANTATION, FL

LEI: 549300NZLFJGIDOXDW97

Tax ID: 47-3963992

2.3 stars - Updated: 9/18/23 - out of 5 stars, based on 18 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    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 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: North Port, Naples, Cape Coral, 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.

    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 6.80% 9/18/23
    30 Year Conventional Refi 6.27% 9/18/23
    30 Year FHA Purchase 6.90% 9/18/23
    30 Year VA Purchase 5.84% 9/18/23
    30 Year USDA Purchase 6.36% 9/18/23
    15 Year Conventional Purchase 6.29% 9/18/23
    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.

    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

    326

    Origination Dollar Volume (All Markets)

    $111,490,000

    Awards

    NEAL COMMUNITIES FUNDING 30 Year Conventional Loans bronze NEAL COMMUNITIES FUNDING FHA Loans silver NEAL COMMUNITIES FUNDING FHA Loans bronze
    Show all (3) awards

    Relative Rate

    Neal Communities Funding's average 30 year fixed mortgage rate was 5.16%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    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 $8,009.

    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) 281 $93,915,000 $334,217 $7,749 5.08%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 28 $10,310,000 $368,214 $7,775 5.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $7,015,000 $467,667 $7,773 4.69%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $250,000 $125,000 $3,718 5.19%
    Neal Communities Funding's top markets include North Port, Naples, Cape Coral, and Punta Gorda 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.

    Allied First Bank,sb
    Similarity Rank: 1134
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1274
    SAN ANTONIO CITIZENS
    Similarity Rank: 1280
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1410
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2028
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 2428
    Auto Club Trust, FSB
    Similarity Rank: 3024
    Brannen Bank
    Similarity Rank: 3736
    WATSON MORTGAGE CORP.
    Similarity Rank: 3933
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 4060

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 297 $99,915,000 $336,414 $7,151 5.11%
    FHA 15 $5,105,000 $340,333 $14,733 4.94%
    VA 13 $6,165,000 $474,231 $12,803 4.94%
    USDA 1 $305,000 $305,000 $8,127 2.75%

    For 2022, Neal Communities Funding's most frequently originated type of loan was Conventional, with 297 originations. Their 2nd most popular type was FHA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 326 $111,490,000 $341,994 $7,728 5.08%

    For 2022, Neal Communities Funding's most frequently cited loan purpose was Home Purchase, with 326 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 291 $102,715,000 $352,973 $8,009 5.16%
    15 Year 28 $7,240,000 $258,571 $5,347 4.51%
    20 Year 6 $1,460,000 $243,333 $6,032 4.19%
    10 Year 1 $75,000 $75,000 $2,697 5.00%

    For 2022, Neal Communities Funding's most frequently cited loan duration was 30 Year, with 291 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 92 $31,080,000 $337,826
    $5k+ 86 $34,930,000 $406,163
    $2k-3k 51 $16,455,000 $322,647
    $<1k 40 $9,230,000 $230,750
    $3k-4k 35 $12,455,000 $355,857
    $4k-5k 22 $7,340,000 $333,636

    Neal Communities Funding's average total fees were $8,009, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 110 $39,580,000 $359,818
    4-5% 77 $24,325,000 $315,909
    3-4% 68 $22,160,000 $325,882
    6-7% 57 $21,115,000 $370,439
    7-8% 7 $2,285,000 $326,429
    2.5-3% 5 $1,455,000 $291,000
    <2.5% 2 $570,000 $285,000

    During 2022, Neal Communities Funding's average interest rate for loans was 5.16%, while their most frequently originated rate bucket for loans was 5-6%, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 195 $59,615,000 $305,718 $7,231 4.98%
    $400k-600k 81 $38,545,000 $475,864 $9,990 5.34%
    $100k-200k 33 $4,845,000 $146,818 $4,073 4.89%
    $600k-1MM 12 $8,120,000 $676,667 $12,715 5.62%
    $100,000 or less 5 $365,000 $73,000 $2,616 5.25%

    2022 saw Neal Communities Funding place emphasis on $200k-400k loans with 195 originations, totaling $59,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 98 $38,640,000 $394,286 $7,759 5.28%
    $100k-150k 91 $31,005,000 $340,714 $7,974 4.95%
    $75k-100k 53 $15,915,000 $300,283 $8,292 5.14%
    $50k-75k 44 $9,580,000 $217,727 $5,890 4.81%
    $250k+ 33 $15,125,000 $458,333 $9,054 5.23%
    $50k or less 7 $1,225,000 $175,000 $5,134 4.84%

    Neal Communities Funding lent most frequently to those with incomes in the $150k-250k range, with 98 originations. The second most popular income band? $100k-150k, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 66 $22,370,000 $338,939 $7,434 5.07%
    20-30% 40 $12,800,000 $320,000 $6,539 5.09%
    49% 23 $6,545,000 $284,565 $7,192 5.24%
    42% 22 $7,690,000 $349,545 $7,857 4.56%
    45% 19 $6,005,000 $316,053 $7,484 5.11%
    39% 17 $6,125,000 $360,294 $6,332 4.82%
    50-60% 16 $5,310,000 $331,875 $12,537 5.10%
    47% 15 $5,765,000 $384,333 $8,829 5.52%
    44% 15 $5,365,000 $357,667 $7,397 5.33%
    48% 14 $4,830,000 $345,000 $7,218 5.58%
    38% 13 $4,235,000 $325,769 $7,162 4.87%
    46% 12 $4,360,000 $363,333 $8,036 5.30%
    <20% 11 $3,885,000 $353,182 $6,697 4.87%
    41% 10 $3,250,000 $325,000 $7,865 4.81%
    37% 9 $3,245,000 $360,556 $7,958 4.94%
    36% 9 $3,535,000 $392,778 $7,920 5.08%
    43% 7 $2,495,000 $356,429 $10,581 5.18%
    40% 7 $3,025,000 $432,143 $7,928 5.32%
    >60% 1 $655,000 $655,000 $19,617 4.75%

    Neal Communities Funding lent most frequently to those with DTI ratios of 30-36%, with 66 originations. The next most common DTI ratio? 20-30%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 275 $93,145,000 $338,709 $7,748 5.11%
    Not provided 30 $10,450,000 $348,333 $6,133 4.84%
    Asian 12 $4,650,000 $387,500 $8,434 5.20%
    Black 6 $2,100,000 $350,000 $11,561 4.33%
    Filipino 1 $525,000 $525,000 $13,678 6.25%
    Chinese 1 $355,000 $355,000 $10,220 6.75%
    Korean 1 $265,000 $265,000 $10,134 5.63%

    Approval Rates

    Total approvals of all applications
    94.25%

    Neal Communities Funding has an average approval rate.

    Pick Rate

    Approvals leading to origination
    45.09%

    Neal Communities Funding has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 326 $111,490,000 $341,994

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    326 $111,490,000 $341,994

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $6,920,000 $182,105 $4,325 5.08%
    40-60% 60 $17,020,000 $283,667 $6,307 5.21%
    60-80% 122 $48,080,000 $394,098 $8,555 5.21%
    80-100% 98 $38,460,000 $392,449 $9,155 4.87%
    Over 100% 1 $305,000 $305,000 $8,127 2.75%
    Under 20% 7 $705,000 $100,714 $3,944 5.21%