Northeast Community Mortgage Rates, Fees & Info

Elizabethton, TN

LEI: 549300RP7VACH3GG5E95

Tax ID: 62-0676416

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
  • Complaints
  • 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

    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. Northeast Community 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
    Home Equity Line of Credit (HELOC) 5.99% 5/4/24
    30 Year Conventional Purchase 5.96% 5/4/24
    30 Year Conventional Refi 6.17% 5/4/24
    30 Year Cash-out Refi 5.57% 5/4/24
    15 Year Conventional Purchase 7.57% 5/4/24
    15 Year Conventional Refi 6.10% 5/4/24
    15 Year Cash-out Refi 6.10% 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.

    Northeast Community Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Northeast Community. 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

    92

    Origination Dollar Volume (All Markets)

    $11,130,000

    Awards

    NORTHEAST COMMUNITY 30 Year Conventional Loans gold NORTHEAST COMMUNITY 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
    JOHNSON CITY, TN (FHA|USDA|VA) 86 $10,060,000 $116,977 $1,646 3.65%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 3 $595,000 $198,333 $1,608 2.99%
    Outside of Metro Areas 3 $475,000 $158,333 $1,621 2.66%
    Northeast Community's top markets include Johnson City and Kingsport among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • 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.

    NORTHEAST COMMUNITY
    Similarity Rank: 39
    CONSUMER Credit Union
    Similarity Rank: 80
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 768
    First Community Bank
    Similarity Rank: 984
    Community First Bank, Inc.
    Similarity Rank: 996
    FIRST BANCORP
    Similarity Rank: 1760
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 3344
    BETTER MORTGAGE CORPORATION
    Similarity Rank: 3368
    Bank of Tennessee
    Similarity Rank: 3600
    STATE EMPLOYEES'
    Similarity Rank: 5796

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $11,000,000 $122,222 $1,643 3.58%
    HELOC 2 $130,000 $65,000 n/a 4.49%

    For 2021, Northeast Community's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 59 $7,345,000 $124,492 $1,666 3.62%
    Home Purchase 16 $2,280,000 $142,500 $1,583 3.18%
    Refi 14 $1,360,000 $97,143 $1,621 3.55%
    Home Improvement 2 $130,000 $65,000 $0 4.49%
    Other 1 $15,000 $15,000 $0 7.50%

    For 2021, Northeast Community's most frequently cited loan purpose was Cash Out Refi, with 59 originations. The 2nd most popular reason was Home Purchase, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 46 $4,100,000 $89,130 $1,635 3.93%
    30 Year 34 $5,630,000 $165,588 $1,745 3.03%
    Other 5 $575,000 $115,000 $965 4.43%
    10 Year 4 $340,000 $85,000 $1,544 3.62%
    20 Year 2 $200,000 $100,000 $1,552 4.49%
    30+ year 1 $285,000 $285,000 $1,200 2.49%

    For 2021, Northeast Community's most frequently cited loan duration was 15 Year, with 46 originations. The 2nd most popular length was 30 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 80 $9,910,000 $123,875

    Northeast Community's average total fees were $1,745, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 80 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 33 $3,345,000 $101,364
    <2.5% 23 $3,645,000 $158,478
    3-4% 15 $2,315,000 $154,333
    4-5% 10 $1,050,000 $105,000
    5-6% 3 $295,000 $98,333
    6-7% 3 $165,000 $55,000
    7-8% 2 $70,000 $35,000
    Over 8% 2 $120,000 $60,000

    During 2021, Northeast Community's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,520,000 $63,000 $1,748 4.24%
    $100k-200k 40 $5,340,000 $133,500 $1,582 3.11%
    $200k-400k 12 $3,270,000 $272,500 $1,508 3.03%

    2021 saw Northeast Community place emphasis on $100,000 or less loans with 40 originations, totaling $2,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 31 $2,845,000 $91,774 $1,641 3.51%
    $50k-75k 30 $3,540,000 $118,000 $1,731 3.92%
    $75k-100k 20 $2,800,000 $140,000 $1,591 3.42%
    $100k-150k 11 $1,945,000 $176,818 $1,510 3.29%

    Northeast Community lent most frequently to those with incomes in the $50k or less range, with 31 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $3,325,000 $123,148 $1,575 3.77%
    <20% 24 $2,510,000 $104,583 $1,697 3.31%
    30-36% 19 $2,765,000 $145,526 $1,504 3.79%
    50-60% 6 $580,000 $96,667 $2,122 3.49%
    41% 4 $360,000 $90,000 $1,411 4.12%
    38% 3 $335,000 $111,667 $1,546 2.99%
    40% 2 $460,000 $230,000 $1,612 3.24%
    37% 2 $200,000 $100,000 $1,583 4.49%
    42% 2 $220,000 $110,000 $2,250 2.74%
    43% 1 $85,000 $85,000 $2,474 3.49%
    36% 1 $165,000 $165,000 $1,575 2.99%

    Northeast Community lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $11,130,000 $120,978 $1,643 3.60%

    Approval Rates

    Total approvals of all applications
    100.00%

    Northeast Community 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 92 $11,130,000 $120,978

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    92 $11,130,000 $120,978

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $815,000 $74,091 $1,523 3.44%
    40-60% 20 $1,780,000 $89,000 $1,629 3.92%
    60-80% 29 $3,805,000 $131,207 $1,717 3.34%
    80-100% 27 $4,305,000 $159,444 $1,624 3.57%
    Over 100% 1 $245,000 $245,000 $1,598 2.49%
    Under 20% 4 $180,000 $45,000 $1,592 4.74%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
    NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%