First Commerce Bank Mortgage Rates, Fees & Info
Lakewood, NJLEI: 254900433OUXXNWBRL57
Tax ID: 20-3528237
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Commerce Bank is a smaller bank specializing in Home Purchase loans. First Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Philadelphia, and Trenton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)First Commerce Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
21Origination Dollar Volume (All Markets)
$31,645,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 17 | $19,845,000 | $1,167,353 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $9,375,000 | $9,375,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $1,650,000 | $825,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $31,645,000 | $1,506,905 | $0 | 0.00% |
For 2023, First Commerce Bank's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $31,360,000 | $1,568,000 | $0 | 0.00% |
| Refi | 1 | $285,000 | $285,000 | $0 | 0.00% |
For 2023, First Commerce Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 21 | $31,645,000 | $1,506,905 | $0 | 0.00% |
For 2023, First Commerce Bank's most frequently cited loan duration was Other, with 21 originations.
Loan Sizing
2023 saw First Commerce Bank place emphasis on $1MM+ loans with 6 originations, totaling $24,260,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 1 | $255,000 | $255,000 | $0 | 0.00% |
First Commerce Bank lent most frequently to those with incomes in the $250k+ range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 21 | $31,645,000 | $1,506,905 | $0 | 0.00% |
First Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 21 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 20 | $31,390,000 | $1,569,500 | $0 | 0.00% |
| White | 1 | $255,000 | $255,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.43%
First Commerce Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination71.43%
First Commerce Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 21 | $31,645,000 | $1,506,905 |