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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 4/18/24 |
| 30 Year Conventional Refi | 6.27% | 4/18/24 |
| 30 Year FHA Purchase | 6.90% | 4/18/24 |
| 30 Year VA Purchase | 5.84% | 4/18/24 |
| 30 Year USDA Purchase | 6.36% | 4/18/24 |
| 15 Year Conventional Purchase | 6.29% | 4/18/24 |
| 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
448Origination Dollar Volume (All Markets)
$148,900,000Awards
NEAL COMMUNITIES FUNDING - 2023
NEAL COMMUNITIES FUNDING is a 2023 , due to their low .
For 2023, 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
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% |
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 | 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
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
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
2023 saw Neal Communities Funding place emphasis on $200k-400k loans with 211 originations, totaling $61,605,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.13%
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 origination75.22%
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 |