Nesc Mortgage Rates, Fees & Info
METHUEN, MALEI: 549300P4KO88PZ6HZH66
Tax ID: 04-2257264
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Mortgage Data
Review & Overview
Nesc is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Nesc has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Concord, Lebanon, and Providence 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.
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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. | ||
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Originations
92Origination Dollar Volume (All Markets)
$17,320,000Awards
NESC - 2021
NESC is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 83 | $15,885,000 | $191,386 | $3,356 | 2.99% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 5 | $1,105,000 | $221,000 | $5,011 | 2.95% |
| Concord, NH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,108 | 2.25% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $400 | 4.49% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $468 | 4.99% |
| Laconia, NH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $258 | 5.75% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $17,320,000 | $188,261 | $3,378 | 3.04% |
For 2021, Nesc's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
For 2021, Nesc's most frequently cited loan purpose was Cash Out Refi, with 48 originations. The 2nd most popular reason was Other, with 23 originations.
Loan Duration/Length
For 2021, Nesc's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 15 Year, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 52 | $12,600,000 | $242,308 |
| 3-4% | 26 | $3,880,000 | $149,231 |
| 4-5% | 13 | $815,000 | $62,692 |
| 5-6% | 1 | $25,000 | $25,000 |
During 2021, Nesc's average interest rate for loans was 2.59%, while their most frequently originated rate bucket for loans was <2.5%, with 52 originations.
Loan Sizing
2021 saw Nesc place emphasis on $200k-400k loans with 40 originations, totaling $11,030,000 in origination value.
Applicant Income
Nesc lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $50k-75k, with 21 originations.
Applicant Debt to Income Ratio
Nesc lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 83 | $15,795,000 | $190,301 | $3,339 | 3.08% |
| Black | 9 | $1,525,000 | $169,444 | $3,738 | 2.69% |
Approval Rates
Total approvals of all applications93.27%
Nesc has an average approval rate.
Pick Rate
Approvals leading to origination95.65%
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 | 92 | $17,320,000 | $188,261 |