Neal Communities Funding Mortgage Rates, Fees & Info

PLANTATION, FL

LEI: 549300NZLFJGIDOXDW97

Tax ID: 47-3963992

4.3 stars - out of 5 stars, based on 23 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • 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.

    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 6.47% 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

    522

    Origination Dollar Volume (All Markets)

    $155,760,000

    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 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%
    Neal Communities Funding's top markets include North Port, Cape Coral, Naples, 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.

    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    Allied First Bank,sb
    Similarity Rank: 2133
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 2428
    Sanibel Captiva Community Bank
    Similarity Rank: 2448
    Brannen Bank
    Similarity Rank: 2802
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 3380
    TrustCo Bank
    Similarity Rank: 4088
    PARK SQUARE HOME MORTGAGE, LLC
    Similarity Rank: 4128

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 471 $143,455,000 $304,575 $5,739 3.06%
    15 Year 42 $10,490,000 $249,762 $4,793 2.59%
    10 Year 5 $615,000 $123,000 $2,984 2.73%
    20 Year 4 $1,200,000 $300,000 $5,187 2.97%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 351 $108,285,000 $308,504
    $2k-3k 82 $25,480,000 $310,732
    $<1k 39 $5,395,000 $138,333
    $3k-4k 21 $6,715,000 $319,762
    $5k+ 17 $5,935,000 $349,118
    $4k-5k 12 $3,950,000 $329,167

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 384 $113,640,000 $295,938 $5,782 3.00%
    $400k-600k 66 $30,620,000 $463,939 $6,662 3.02%
    $100k-200k 61 $9,405,000 $154,180 $3,957 3.10%
    $100,000 or less 9 $675,000 $75,000 $2,272 3.17%
    $600k-1MM 2 $1,420,000 $710,000 $9,055 3.06%

    2021 saw Neal Communities Funding place emphasis on $200k-400k loans with 384 originations, totaling $113,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 150 $45,690,000 $304,600 $5,774 3.02%
    $50k-75k 110 $27,200,000 $247,273 $5,491 3.01%
    $150k-250k 107 $36,675,000 $342,757 $5,647 3.02%
    $75k-100k 107 $30,905,000 $288,832 $5,545 3.01%
    $250k+ 34 $13,090,000 $385,000 $6,159 3.04%
    $50k or less 14 $2,200,000 $157,143 $4,497 3.09%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $32,890,000 $299,000 $5,305 2.97%
    30-36% 85 $26,135,000 $307,471 $5,650 3.05%
    <20% 43 $12,005,000 $279,186 $5,219 3.03%
    43% 27 $8,205,000 $303,889 $5,444 3.01%
    40% 24 $7,530,000 $313,750 $6,431 3.13%
    47% 23 $5,915,000 $257,174 $5,336 3.10%
    49% 21 $5,495,000 $261,667 $5,233 3.00%
    48% 20 $5,760,000 $288,000 $5,629 3.02%
    41% 20 $6,050,000 $302,500 $5,884 3.07%
    46% 19 $5,905,000 $310,789 $5,593 3.07%
    36% 19 $5,735,000 $301,842 $5,888 3.01%
    38% 19 $5,965,000 $313,947 $5,392 2.92%
    45% 18 $5,170,000 $287,222 $5,749 2.91%
    44% 17 $5,025,000 $295,588 $5,417 3.09%
    50-60% 16 $5,170,000 $323,125 $9,033 2.89%
    39% 16 $5,060,000 $316,250 $5,665 3.01%
    42% 15 $5,045,000 $336,333 $5,775 2.96%
    37% 10 $2,700,000 $270,000 $4,955 3.08%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 478 $142,320,000 $297,741 $5,588 3.02%
    Not provided 34 $10,490,000 $308,529 $6,068 3.02%
    Asian 5 $1,445,000 $289,000 $5,163 3.08%
    Black 3 $905,000 $301,667 $8,732 2.62%
    American Indian 1 $355,000 $355,000 $5,709 3.25%
    Filipino 1 $245,000 $245,000 $4,777 3.25%

    Approval Rates

    Total approvals of all applications
    98.77%

    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 origination
    83.91%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    522 $155,760,000 $298,391

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $5,225,000 $141,216 $3,382 3.15%
    40-60% 93 $21,125,000 $227,151 $4,992 3.00%
    60-80% 187 $61,365,000 $328,155 $5,746 2.98%
    80-100% 200 $67,690,000 $338,450 $6,331 3.03%
    Under 20% 5 $355,000 $71,000 $1,980 3.15%