Nesc Mortgage Rates, Fees & Info

METHUEN, MA

LEI: 549300P4KO88PZ6HZH66

Tax ID: 04-2257264

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Nesc is a smaller mortgage company specializing in Other and Cash Out Refi loans. Nesc has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Laconia, Worcester, and Concord among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Nesc has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Nesc is typically a low 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 6.27% 5/4/24
    30 Year Conventional Refi 6.27% 5/4/24
    30 Year Cash-out Refi 6.27% 5/4/24
    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.

    Nesc Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Nesc. 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

    125

    Origination Dollar Volume (All Markets)

    $13,765,000

    Awards

    NESC 30 Year Conventional Loans gold NESC 30 Year Conventional Loans gold
    Show all (2) awards

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 119 $13,415,000 $112,731 $2,235 4.11%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $130,000 $65,000 $312 3.99%
    Laconia, NH (FHA|USDA|VA) 1 $85,000 $85,000 $5,527 4.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.99%
    Concord, NH (FHA|USDA|VA) 1 $35,000 $35,000 $3,619 5.25%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $25,000 $25,000 $413 3.49%
    Nesc's top markets include Boston, Manchester, Laconia, Worcester, and Concord among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

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

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $10,880,000 $123,636 $2,246 4.14%
    HELOC 37 $2,885,000 $77,973 n/a 4.10%

    For 2018, Nesc's most frequently originated type of loan was Conventional, with 88 originations. Their 2nd most popular type was HELOC, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 64 $3,850,000 $60,156 $477 4.28%
    Refi 24 $2,300,000 $95,833 $2,028 4.13%
    Cash Out Refi 24 $5,030,000 $209,583 $3,180 3.84%
    Home Purchase 13 $2,585,000 $198,846 $5,912 3.92%

    For 2018, Nesc's most frequently cited loan purpose was Other, with 64 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 42 $3,810,000 $90,714 $3,510 4.09%
    30 Year 32 $6,960,000 $217,500 $4,508 3.84%
    15 Year 22 $1,680,000 $76,364 $1,026 4.57%
    10 Year 21 $1,045,000 $49,762 $471 4.30%
    5 Year 7 $245,000 $35,000 $414 3.63%
    Other 1 $25,000 $25,000 $488 5.00%

    For 2018, Nesc's most frequently cited loan duration was 20 Year, with 42 originations. The 2nd most popular length was 30 Year, with 32 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 70 $9,090,000 $129,857
    4-5% 38 $3,520,000 $92,632
    5-6% 11 $855,000 $77,727
    2.5-3% 6 $300,000 $50,000

    During 2018, Nesc's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $3,430,000 $46,351 $674 4.33%
    $100k-200k 27 $3,635,000 $134,630 $2,759 3.87%
    $200k-400k 22 $5,810,000 $264,091 $5,080 3.84%
    $400k-600k 2 $890,000 $445,000 $6,086 3.50%

    2018 saw Nesc place emphasis on $100,000 or less loans with 74 originations, totaling $3,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 39 $4,495,000 $115,256 $3,010 4.10%
    $100k-150k 27 $3,375,000 $125,000 $2,232 4.09%
    $75k-100k 26 $3,000,000 $115,385 $1,599 4.20%
    $50k or less 23 $1,975,000 $85,870 $2,246 4.08%
    $150k-250k 8 $710,000 $88,750 $457 4.12%
    $250k+ 2 $210,000 $105,000 $958 4.74%

    Nesc lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 24 $2,550,000 $106,250 $2,283 4.44%
    30-36% 17 $2,235,000 $131,471 $2,728 3.86%
    20-30% 13 $1,155,000 $88,846 $1,441 4.24%
    49% 8 $450,000 $56,250 $1,019 4.05%
    <20% 8 $670,000 $83,750 $886 4.18%
    41% 8 $1,030,000 $128,750 $1,728 3.90%
    46% 7 $555,000 $79,286 $1,908 4.53%
    43% 7 $925,000 $132,143 $2,888 3.96%
    47% 6 $920,000 $153,333 $2,273 3.95%
    44% 5 $525,000 $105,000 $2,086 4.19%
    >60% 4 $700,000 $175,000 $4,762 4.13%
    40% 4 $230,000 $57,500 $1,413 3.87%
    42% 4 $650,000 $162,500 $4,048 3.94%
    45% 3 $155,000 $51,667 $433 3.66%
    38% 3 $405,000 $135,000 $2,713 3.99%
    39% 1 $35,000 $35,000 $3,619 5.25%
    37% 1 $315,000 $315,000 $3,726 4.25%
    36% 1 $235,000 $235,000 $3,133 3.25%

    Nesc lent most frequently to those with DTI ratios of 50-60%, with 24 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $10,850,000 $108,500 $2,168 4.14%
    Black 15 $1,665,000 $111,000 $2,834 3.94%
    Not provided 7 $755,000 $107,857 $2,279 4.06%
    Asian Indian 1 $345,000 $345,000 $6,017 3.50%
    Asian 1 $95,000 $95,000 $408 5.49%
    Other Asian 1 $55,000 $55,000 $508 5.49%

    Approval Rates

    Total approvals of all applications
    92.09%

    Nesc has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.60%

    Nesc has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 125 $13,765,000 $110,120

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 125 $13,765,000 $110,120

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,005,000 $95,476 $1,249 4.34%
    40-60% 16 $2,730,000 $170,625 $4,057 3.89%
    60-80% 18 $4,390,000 $243,889 $4,558 3.74%
    80-100% 7 $1,945,000 $277,857 $4,954 4.18%
    Under 20% 63 $2,695,000 $42,778 $468 4.22%