Northeast Community Mortgage Rates, Fees & Info
Elizabethton, TNLEI: 549300RP7VACH3GG5E95
Tax ID: 62-0676416
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Mortgage Data
Review & Overview
Northeast Community is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Northeast Community has a high proportion of conventional loans. Their top two markets are Johnson City and Kingsport .Northeast Community 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. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.99% | 12/16/24 |
| 30 Year Conventional Purchase | 5.96% | 12/16/24 |
| 30 Year Conventional Refi | 6.17% | 12/16/24 |
| 30 Year Cash-out Refi | 5.57% | 12/16/24 |
| 15 Year Conventional Purchase | 7.57% | 12/16/24 |
| 15 Year Conventional Refi | 6.10% | 12/16/24 |
| 15 Year Cash-out Refi | 6.10% | 12/16/24 |
| 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. | ||
Northeast Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
48Origination Dollar Volume (All Markets)
$4,370,000Top 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 |
|---|---|---|---|---|---|
| JOHNSON CITY, TN (FHA|USDA|VA) | 38 | $3,550,000 | $93,421 | $0 | 5.95% |
| Outside of Metro Areas | 9 | $755,000 | $83,889 | $0 | 6.49% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against NORTHEAST COMMUNITY 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 | 48 | $4,370,000 | $91,042 | $0 | 6.05% |
For 2018, Northeast Community's most frequently originated type of loan was Conventional, with 48 originations.
Loan Reason
For 2018, Northeast Community's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
For 2018, Northeast Community's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 15 Year, with 16 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $45,000 | $45,000 |
Northeast Community's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
During 2018, Northeast Community's average interest rate for loans was 5.58%, while their most frequently originated rate bucket for loans was 4-5%, with 15 originations.
Loan Sizing
2018 saw Northeast Community place emphasis on $100,000 or less loans with 33 originations, totaling $1,895,000 in origination value.
Applicant Income
Northeast Community lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Northeast Community lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 47 | $4,215,000 | $89,681 | $0 | 6.06% |
| Asian | 1 | $155,000 | $155,000 | $0 | 6.00% |
Approval Rates
Total approvals of all applications90.48%
Northeast Community has an average approval rate.
Pick Rate
Approvals leading to origination93.75%
Northeast Community has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 48 | $4,370,000 | $91,042 |