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, Other, 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
138Origination Dollar Volume (All Markets)
$17,500,000Awards
NORTHEAST COMMUNITY - 2022
NORTHEAST COMMUNITY is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| JOHNSON CITY, TN (FHA|USDA|VA) | 128 | $14,850,000 | $116,016 | $2,366 | 4.71% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 4 | $1,660,000 | $415,000 | $2,388 | 4.23% |
| Outside of Metro Areas | 6 | $990,000 | $165,000 | $1,738 | 3.75% |
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 | 93 | $13,135,000 | $141,237 | $2,332 | 4.66% |
| HELOC | 45 | $4,365,000 | $97,000 | n/a | 4.64% |
For 2022, Northeast Community's most frequently originated type of loan was Conventional, with 93 originations. Their 2nd most popular type was HELOC, with 45 originations.
Loan Reason
For 2022, Northeast Community's most frequently cited loan purpose was Cash Out Refi, with 55 originations. The 2nd most popular reason was Other, with 37 originations.
Loan Duration/Length
For 2022, Northeast Community's most frequently cited loan duration was 15 Year, with 70 originations. The 2nd most popular length was 30 Year, with 38 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 49 | $8,755,000 | $178,673 |
| $1k-2k | 1 | $75,000 | $75,000 |
| $2k-3k | 1 | $195,000 | $195,000 |
Northeast Community's average total fees were $2,916, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.
Interest Rates
During 2022, Northeast Community's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 3-4%, with 56 originations.
Loan Sizing
2022 saw Northeast Community place emphasis on $100,000 or less loans with 78 originations, totaling $4,040,000 in origination value.
Applicant Income
Northeast Community lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $50k or less, with 35 originations.
Applicant Debt to Income Ratio
Northeast Community lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? <20%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $45,000 | $45,000 |
| NA | 137 | $17,455,000 | $127,409 |